PRZOOM - /newswire/ -
Mountain View, CA, United States, 2011/03/28 - The pharmaceutical industry's process analytical technology (PAT) initiative and global green environment initiatives supported by regulations are poised to drive the demand for process analytical instruments in the next couple of years.
New analysis from Frost & Sullivan (testandmeasurement.frost.com), World Process Analytical Instrumentation Market, finds that the markets earned revenues of $2,654.8 million in 2009 and estimates this to reach $3,038.4 million in 2014. The following product segments are covered in the research: process gas chromatographs, process spectrophotometers, process gas analyzers and process liquid analyzers.
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"Presently, the focus in all process industries has shifted to improving process throughput and efficiency," notes Frost & Sullivan Industry Analyst Sivakumar Narayanaswamy. "Process plant engineers achieve enhanced throughput and accuracy in processes with process analytical instruments. This is likely to drive the demand for process analytical instruments in the next couple of years."
Since the beginning of the economic recession, many end-user segments started to emphasize the need to boost process throughput and efficiency by reducing delays in reporting. Existing process analytical instruments provide more comprehensive, precise and accurate information faster than laboratory instruments.
The competition in the total process analytical instrumentation market is intense, with large conglomerates competing with niche market participants. Multinational participants account for more than half the share in this market.
Consolidation in this market is set to further augment competition among key participants in this mature market. This will restrain the potential for revenue growth in the total market with declining prices affecting market revenues.
"Strategies to approach this highly competitive market should include investments in research and development," advises Narayanaswamy. "This would result in new product innovations that could offer greater accuracy and reliability, besides being price competitive."
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World Process Analytical Instrumentation Market / M593