October 11, 2023 11:30 ET | Source: Emergen Research Emergen Research
Vancouver, Oct. 11, 2023 (GLOBE NEWSWIRE) -- The global process analyzer market size was USD 8.37 Billion in 2022 and is expected to register a steady revenue CAGR of 4.8% during the forecast period, according to latest analysis by Emergen Research. Rising public health awareness and increasing government initiatives to protect sustainable methods and application in drug safety are key factors drive market revenue growth. According to the United Nations (UN), countries with higher incomes treat, on an average, 70% of their wastewater production. Oxygen Concentration Analyzer
This ratio drops to 38% in middle-income countries while it drops to 28% in lower-income countries. The need for process analyzers in the wastewater treatment process is rising as a result of recent government initiatives aimed at enhancing public health and lifestyle. For instance, the U.S. Department of Energy (DOE) is collaborating with water resource recovery facilities under the Sustainable Wastewater Infrastructure of Future (SWIFt) Initiative to hasten the transition to sustainable infrastructure.
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Process equipment operators are always in need of qualified professionals. For the correct use of analytical equipment, personnel with competence, appropriate experience, and process analytical tool expertise are required. Selecting the best operational strategies (unique to a given activity) is a crucial component. In the pharmaceutical industry, a lack of knowledge about the appropriate method of selection increases expenses both directly and indirectly and lengthens the time it takes to launch new drugs. As a result, the method development, approval, operation, and diagnosis roles in the process analyzer industry demand highly qualified employees. Such factors are limiting demand for process analyzer, which could restrain market revenue growth.
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Major Companies and Competitive Landscape
The global process analyzer market is moderately fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective process analyzer solutions. Some major players included in the global process analyzer market report are:
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Some Key Highlights From the Report
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Emergen Research has segmented the global process analyzer market on the basis of type, technology, industry vertical, and region:
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