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Market research analysts at Technavio predict that the global process analytical instrument market will grow at a CAGR of around 4% by 2021. This market research analysis identifies the growing chemical industry in APAC as one of the primary growth factors for this market. Process analytical instrumentsare widely used in chemical processes like pumping fluids from high-pressure reactors at high temperatures. Asia is one of the largest specialty chemical market and China's chemical market is among the largest chemical markets in the world and houses several chemical companies. Singapore has several research institutes which encourages companies to set up laboratories to develop innovative solutions on sustainable chemistry.
Numerous oil and gas fields are scattered and present in remote locations and tough conditions. This rises the need for a single command centre for controlling and monitoring information, influencing the growth of smart oil and gas fields that help in the integration and real-time information sharing, monitoring, and control of various oil and gas fields. This increasing number of smart oil and gas fieldswill be a major trend driving the market’s growth since companies use various instruments to analyze the process and monitor the substance content to convert their existing fields to smart fields.
The market is highly competitive and fragmented due to the presence of several large vendors who face stiff competition from the regional vendors offering high quality equipment with good aftersales services. The key vendors are adopting growth strategies for expanding their product portfolio by integrating optimized technology, investing highly in R&D to develop innovative products, and for increasing their market penetration.
The leading vendors in the market are -
The other prominent vendors in the market are Emerson, Galvanic Applied Sciences, GE, Hach, JEOL, Nova Analytical Systems, Shimadzu Corporation, Thermo Fisher Scientific, Varian, and Waters Corporation.
The growing number of pharmaceutical and biotechnology industries, the rising population, and the increased awareness about health safety has increased the need for the development of the pharmaceutical infrastructure across the globe. With the increased research activities for the development of drugs and medicines and the indirect or direct government investment in chromatography instruments, the chromatograph segment will account for the major shares of this market throughout the forecast period.
Market research analyst predict that North America will be the major revenue contributor to this market throughout the forecast period. Increased R&D investments in the pharmaceutical and healthcare sectors, research laboratories, educational institutions, and food testing laboratories due to the high government funding and huge budget will be a major factor contributing to the growth of the market in this region.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
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