New Delhi, Sept. 15, 2022 (GLOBE NEWSWIRE) — Rising demand for the process analytics technology market in the drug manufacturing industry is driving the development of new innovative and reliable technologies. The main drivers of this trend are rising costs of manufactured drugs and increased scrutiny from regulatory agencies. The PAT plays an important role in ensuring the quality and safety of pharmaceutical products. It is used to determine the purity, potency, identity and structure of drugs.
PAT also helps identify potential problems with drug manufacturing processes, such as contamination or foreign bodies. In a recent study of the global process analytics technology market, it was found that process analytics technology can identify contaminations present at levels as low as 0.1 parts per million. It could save a lot of time and money during production.
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Top 5 Players Hold Around 30% Global Process Analytics Market Share
According to Astute Analytica, Agilent Technologies, Inc. (USA), Thermo Fisher Scientific, Inc. (USA), Danaher Corporation (USA), PerkinElmer, Inc. (USA) and Bruker Corporation (USA) States), ABB Ltd and Shimadzu Corporation are among the players in the global process analytical technology market. In this case, the top 5 players held around 30% global market share in 2021.
These companies focus on the development of innovative technologies that primarily improve the quality assurance and diagnostic processes of the pharmaceutical industry. Some of the key products offered by these companies include biochemical analysis tools, flow cytometry instruments, and mass spectrometers.
Thermo Fisher is a leading supplier to the global process analytics technology market. It offers a range of solutions including liquid chromatography-mass spectrometry (LC-MS), gas chromatography-tandem mass spectrometry (GC-MS/MS), optical detection and nuclear magnetic resonance ( NMR). The company is known for offering absolute confirmation of product quality and helping manufacturers avoid costly recalls.
According to Astute Analytica, one of the main ways gamers advance their technology is through acquiring new patents. Many big names in the industry have obtained patents on various processes and technologies, which gives them a competitive edge. For smaller companies in the process analytics technology market, this can be a major challenge, as it requires a significant investment in research and development to stay ahead of the game. However, some startups have been able to innovate faster by relying on patents from other industries.
Other methods players use to improve their products include acquisitions and partnerships. Some large companies have been willing to pay large sums of money for smaller companies with promising technology, while others have formed partnerships with other companies to collaborate on projects. For example, in March 2022, Danhar acquired the biopharmaceutical business of GE Healthcare. Additionally, in March 2022, Thermo Fisher acquired Max Analytical Technologies. This type of teamwork can be essential for innovation because it allows different parts of the business to share expertise and move forward faster.
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AI will revolutionize process analytics technology in pharmaceutical manufacturing
Process analytics technologies (PAT) play an important role in the pharmaceutical manufacturing process by providing data that supports decision making, quality control, product development, and manufacturing implementation. In recent years, Astute Analytica has observed that artificial intelligence (AI) is increasingly being used in PAT to improve the accuracy, speed and efficiency of data analysis.
There are various types of AI including rule-based AI, pattern recognition AI, natural language processing AI, and machine learning AI in the analytics technology market. process. Some common applications of these types of AI in PAT include smart sensor fusion, traceability analysis, predictive maintenance planning and execution, synthetic biology research, and efficiency prediction.
Some of the most popular applications of AI in PAT include machine learning for inspection (MLI), process identification (PI), and process optimization (PO). MLI is a technique used to identify problems in a production process using data flow. PI uses regression analysis to identify the cause of failures, then develops corrective action plans. PO helps manufacturers optimize their processes by identifying bottlenecks and mapping the changes needed to improve overall plant performance.
AI is also used to create predictive models for new products. Predictive modeling is a method used to develop models capable of predicting future events or behaviors. This allows manufacturers in the process analytical technology market to test different product formulations before finalizing them for production. AI is also used to measure the performance of human observers during inspection tasks.
Key Trends in the Global Process Analytics Technology Market
As the pharmaceutical industry moves from discovery to development and ultimately commercialization of new drugs, researchers and manufacturers are under constant pressure to shorten the time it takes to deliver a product to patients. This pressure has led drugmakers and researchers to explore new ways to improve drug processing time. In this article, we take a look at some of the top trends in pharmaceutical process analytics technology.
- Focus on robust automation: As the pace of drug development increases, so does the need for fast and accurate results. This requires the use of robust automation in drug processing laboratories. The use of robotics, manufacturing automation, and data analytics helps accelerate and improve sample processing, assay generation, and MAID operations, which is expected to drive growth of the process analytics technology market.
- On-demand lab transformation: For many companies, transforming their discovery labs into production lines is not an option due to space constraints or regulatory limitations. Instead, they turn to services that provide dedicated lab space on demand – often referred to as Lab-on-Demand (LOD). LOD solutions allow companies to outsource all or part of their R&D pipeline, including chemical synthesis, purification, characterization, and sample testing, among others.
- Precision medicine: as technologies improve, it becomes possible to offer more targeted treatments to patients. This precision medicine approach is based on the use of analytical data on the medication process to identify patient profiles and predict how they will react to various treatments. By understanding how a drug affects different populations, manufacturers can develop better drugs.
Key Players of the Global Process Analytics Technology Market
- ABB limited
- Agilent Technologies Inc.
- Agilent Technologies Inc.
- Bruker Corporation
- Carl Zeiss AG
- Danaher Company
- Emerson Electric Co.
- Mettler-Toledo International Inc.
- Perkin Elmer Inc.
- Sartorius AG
- Shimadzu Company
- Statgraphics Technologies Inc.
- Thermo Fisher Scientific Inc.
- Other top players
Scope of the Global Process Analytics Technology Market
|Market size value in 2021||US$2,638.9 million|
|Market outlook for 2030||US$7828.0 million|
|Expected CAGR Growth||13.2%|
|Profiled companies||ABB Limited, Agilent Technologies Inc., Agilent Technologies Inc., Bruker Corporation, Carl Zeiss AG, Danaher Corporation, Emerson Electric Co., Mettler-Toledo International Inc., PerkinElmer Inc., Sartorius AG, Shimadzu Corporation, Statgraphics Technologies Inc, Thermo Fisher Scientific Inc., other important players|
|Segments Covered||By offer, by measure, by technique, by applications, by end user, by region|
|Geographical areas covered||North America, Europe, Asia-Pacific, South America, Middle East and Africa|
|Personalization options||Get your personalized report according to your preferences. Ask for customization|
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About Astute Analytica
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