Process Analyzer Market Size

Process Analyzer Market Size

Process Analyzer Market size was valued at over USD 6.9 billion in 2022 and is anticipated to grow at a CAGR of over 5% between 2023 and 2032.

The process analyzer is an automatic device which is used for the continuous or periodic measurement of physical or chemical parameters in any industrial process. It helps to analyze the chemical composition, viscosity, boiling and freezing point, pressure and other physical properties as the product goes through processing. It uses different test methods such as critical quality attributes (CQAs) and critical process parameters (CPPs) to test a sample and identify product contamination. Moreover, there is a rise in demand for process analyzers, as the demand for personalized medicines, and drug development, is increasing in the market. Pharmaceutical companies are using process analyzers for high-throughput screening, artificial intelligence technology and computational biology for drug development processes. For instance, on June 24, 2022, Process Insights, a company in the portfolio of Union Park Capital, declared the acquisition of the Process Analyzer business's assets from Schneider Electric. The Schneider Electric’s process analyzer will help to deliver premium solutions to global companies which are serving diverse industries and process applications including biotechnology, pharmaceuticals, chemical, metals, energy, and other markets.

Process analyzers are carefully designed instruments which can monitor the parameters precisely within different industrial processes. For correct setting of the analyzers, calibration experts and other technology experts are required, who can install and integrate them seamlessly into existing control systems. Moreover, process analyzers also require periodic calibration and regular maintenance for the continuous operations and hence require specialized skilled employees. However, such challenges and complexities are involved during the installation and operation of process analyzers.