Oct 1, 2019
The global process analytical technology market is projected to reach USD 3.30 Billion by 2021 from USD 1.77 Billion in 2016, growing at a CAGR of 13.3% during the forecast period.
Growth in the market is primarily driven by factors such as government regulations on drug safety, need for manufacturing process efficiency leading to quality improvement, and technological advancements in analytical devices. Other factors supporting market growth include an increase in R&D spending by pharma and biopharma companies and increasing government investments in emerging countries.