LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global process analytical instrument market is projected to grow at a CAGR of nearly 4% over the forecast period.
This research report titled ‘Global Process Analytical Instrument Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
| The major demand for process analytical instruments will come from APAC countries, such as China, India, Indonesia, Thailand, and Brazil during the forecast period. Technavio analysts expect the rise of industrialization to boost the market in the region. The increase in investment toward water treatment management is also expected to contribute to the sales of process analytical instruments. |
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Based on the product, the report categorizes the global process analytical instrument market into the following segments:
- Chromatographs
- Spectrophotometers
- Liquid analyzers
- Gas analyzers
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The top three revenue-generating product segments in the global process analytical instrument market are discussed below:
Chromatographs
“Chromatographs dominated the global process analytical instrument market in 2016, holding a dominant 41% of the overall shares. The growing number of global pharmaceutical and biotechnology industries and the increasing government funds are expected to drive the demand for advanced chromatographs,” says Anju Ajaykumar, a lead analyst at Technavio for tools and components research.
The rising population, along with increased awareness about health safety has increased the need for the development of pharmaceutical infrastructure across the globe. The BRICS nations have witnessed a rapid increase in the demand for medical devices and diagnostic equipment during the last five years. The second largest market share is held by APAC, mainly because of the outsourcing of drug development and discovery services to the region.
Spectrophotometers
The global process analytical instrument market by spectrophotometers is expected to grow to USD 1.107 billion by 2021. The growth in the market will be driven by the widespread use of spectrophotometers in microbiology, biochemistry, and medical health to ensure if a drug is safe for consumption.
They are also used for detecting bacterial growth by measuring the optical density of cultures. In addition, these are used in non-pharma industries like wine production, aerospace manufacturing, and others. Growth in these industries will lead to an increase in the demand for spectrophotometers, which will drive the market growth.
Liquid analyzers
“The need to measure several parameters, such as oxygen analysis or dissolved oxygen, turbidity, conductivity or resistivity, and pH or ORP of liquid across the water, chemical, oil and gas, power, and pharmaceuticals industries have contributed to the increased demand for liquid analytical instruments,” says Anju.
Water treatment equipment is used for the treatment of seawater, groundwater, municipal drinking water, and wastewater. These instruments measure pH/ORP, turbidity, oxygen analysis/dissolved oxygen, conductivity/resistivity, chlorine, and total organic carbon in water. The measurement helps in conducting or adopting an effective and efficient water treatment process.
The top vendors highlighted by Technavio’s research analysts in this report are:
- ABB
- Agilent Technologies
- PerkinElmer
- Siemens
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