The process analytical technology market will grow at a rate double digit rate to reach USD 13,626.5 million by 2030.
This is due to the fact that PAT has been included in the procedures used for producing pharmaceuticals, antibiotics, and vaccines, because of the increased necessity for quality-based products across biotech and pharma industries.
The spectroscopy category dominated the industry with a share of 52.2%, in 2022, and it will grow the fastest in the years to come as well.
APAC process analytical technology market will grow at a rate of 19.6% in the future.
This is due to the existence of more than a few USFDA-approved pharma companies, the fast growth in the biotech sector accompanied by the growing usage of analytical technologies, high research and development expenditure, an increase in the incidence of several diseases that leading to an increase in the consumption of pharma and biologic drugs, and the surge in healthcare spending in the region.
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Also, market of the European region will grow at a rate of 18.2% by the end of this decade.
Even though it is moving toward a state of maturity, the existence of big guns of analytical technology, the growing emphasis on quality, the increasing biotech sector, and the increasing research and development spending by pharma companies are a number of important factors, which are powering the requirement for PAT products in whole of Europe.
It is due to the fact that, there is a of the growing adherence to quality and design principles, the demand for process analytical technology will continue to grow even more in the years to come, all over the world.
