In 2021, the process analytical instruments (PAI) market and PAI worldwide enterprise (which also includes the value of analyzer-related services) reached $4.7 billion and $7.5 billion, respectively. Over the next few years, demand from many end-user markets is expected to increase 5%–7% per year driven by solid growth from the pharmaceutical industry.
Combustion and emissions/environmental monitoring applications are expected to post robust growth. Geographically, the Western Europe and China will undergo the fastest growth over the coming years, while demand from Latin America and Eastern Europe will be somewhat anemic for the forecast period. The conflict between Russia and Ukraine has cast uncertainty across global markets. It has exacerbated supply chain disruptions and affected numerous sectors, including the agriculture, automobile, energy, and semiconductor industries. TDA’s PAI report includes predictions based on these recent events for energy independence, the Russian economy, and the relationship between Russia and China.