Emerging regions such as Asia-Pacific and Latin America to grow rapidly by 2025, finds Frost & Sullivan
SANTA CLARA, Calif., Dec. 12, 2019 /PRNewswire/ -- The total analytical instrumentation market in pharmaceuticals, biopharmaceuticals, and nutraceuticals generated revenues of $3.05 billion in 2018 and is expected to grow at a CAGR of 7.0% to touch $4.91 billion in 2025. Pharmaceuticals were the largest segment in 2018, with a share of 63.4%, while biopharmaceuticals and nutraceuticals held 20.7% and 15.9%, respectively. Biological drugs are expected to capture 52% of the top 100 products sales by 2022.
"There is high pressure on drug manufacturers to lower prices. Hence, they will have to create a flexible pricing strategy to maximize their profits and negotiate with payers," said Janani Balasundar, Research Analyst for Measurement & Instrumentation at Frost & Sullivan. "Process analyzers that can be plugged in as part of the manufacturing process will help reduce operating costs for manufacturers."
Frost & Sullivan's recent analysis, Global Analytical Instrumentation Market in Pharmaceuticals, Biopharmaceuticals, and Nutraceuticals, Forecast to 2025, analyzes the products and services offered. It studies the key applications of drug discovery and development testing, biopharmaceutical analytical testing, quality control testing, cancer research, and process analytical technology analysis. It covers the regions of North America, Europe, Asia-Pacific, and Rest-of-the-World (ROW).
For further information on this analysis, please visit: http://frost.ly/3vy
"Developing countries in Asia-Pacific, including Vietnam, China, and Sri Lanka, are expected to experience strong growth," noted Balasundar. "The Latin American pharmaceuticals market also is expanding significantly and will continue doing so throughout the forecast period. North America and Europe are strong focus regions for biosimilars; In the biosimilars segment, Europe held the highest share of 47.7% in 2018, and North America will achieve a CAGR of 32.7% in the forecast period."
Furthermore, there is likely to be high demand for mass spectrometer for characterization analysis in biosimilar analysis. Analytical equipment manufacturers can leverage additional growth opportunities by:
- Offering sample preparation equipment, liquid chromatographs for compositional testing, and chromatography data system software for compliance management.
- Ensuring personalization and customization of solutions so they may address market needs instead of merely providing a product.
- Developing advanced techniques, including two-dimensional chromatograph systems.
- Presenting powerful software for biosimilars analysis to simplify human interpretation during analysis.
- Working with regulatory authorities to tighten the regulatory requirements for biosimilars in emerging countries.
Global Analytical Instrumentation Market in Pharmaceuticals, Biopharmaceuticals, and Nutraceuticals, Forecast to 2025 is part of Frost & Sullivan's global Test & Measurement Growth Partnership Service program.
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Global Analytical Instrumentation Market in Pharmaceuticals, Biopharmaceuticals, and Nutraceuticals, Forecast to 2025
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SOURCE Frost & Sullivan