Articles
Increasing R&D Investments Fueling Process Analytical Technology Market Expansion
by Pramod Kumar Digital Marketing ProfessionalThe global process analytical technology market reached a revenue of $1,744.5 million in 2016, and it is predicted to attain a value of $4 billion by 2023. According to the forecast of the market research company, P&S Intelligence, the market will progress at a CAGR of 12.9% from 2017 to 2023. The market is being driven by the increasing research and development (R&D) expenditure in the domain of process analytical technology, especially in the developing countries, and increasing compliance toward quality by design (QbD) principles.
Access Report Summary on Process Analytical Technology Market Segmentation Analysis
In addition, the R&D investments being made in the developing countries such as the BRICS nations, have surged massively over the last few years, as per the observations of the Organization for Economic Co-operation and Development (OECD). Moreover, the United States Food and Drug Administration (USFDA) released a Process Validation policy in January 2011 that reported the need among companies to rapidly improve the overall process lifecycle by making various adaptations in order to correct the root causes of several manufacturing problems.
Hence, it can be safely said that the market will register sharp growth in the coming years, mainly because of the rising requirement for the process analytical technology in the pharmaceutical industry and the surging investments being made by various organizations in this domain.
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About Pramod Kumar 
Digital Marketing Professional
89 connections, 2 recommendations, 268 honor points.Joined APSense since, July 17th, 2017, From Ave, United States.
Created on Sep 7th 2021 05:41. Viewed 144 times.
