A new report titled “Analytical Standards Market, Size, Share & Analysis, By Category (Organic, Inorganic), Technique (GC, MS, LC, IR, NMR, Gravimetry), By Method (Bioanalytical, Dissolution, Material Testing), By Application (Food, Environmental, Pharmaceutical, Forensics) And Region Forecast To 2028” research report has been recently published by Reports and Data
The global analytical standards market size is expected to reach USD 2.32 billion by 2028 at a CAGR of 6.6% over the forecast period
Market revenue growth is driven by key factors, such as use of mass spectrometry, chromatography, and other analytical techniques, by end user industries, such as food laboratories, environmental protection agencies, drug manufacturers, and others, to check for adulteration and make sure products meet required safety and quality standards.
Analytical standards market drivers include stringent regulatory norms for quality control in pharmaceutical and food and beverages industries and increasing public-private investments for R&D
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Analytical standards are used to confirm the existence of specific components in mixtures, improve the accuracy of quantitative analysis, perform a test or calibration of an analyzer, and various other purposes. Analytical standards for chromatography, electrophoresis, microscopy, spectroscopy, titration, and physical properties are available with applications in trace analysis, petrochemicals, environmental, clinical, food and beverage, accredited reference materials, GMO standards, cosmetics, forensics, and veterinary medicine.
In 2020, the global pharmaceutical market was valued at USD 1.2 trillion. Analytical testing is critical in the pharmaceutical industry because it helps to understand the effect on dosage form selection and design, physical and chemical stability of drug molecules, and drug molecule stability evaluation. Life science and healthcare sectors as well as biopharmaceuticals industries are rapidly expanding, driving revenue growth of the analytical standards market. The biopharmaceutical industry’s widespread use of life science reagents and analytical standards for creation of biomarkers, drug discovery, biologic drug processing, and therapeutic drug monitoring is expected to boost demand for analytical standards during the forecast period.
The costs of establishing analytical standards vary significantly from project to project, reflecting not only on raw material prices, but also on risk profiles, R&D intensities, purity, protection, documentation, and analytical specification specifications. This increases competition by putting pressure on major producers to lower their prices. The dominance of local players who deliver a broad range of analytical standards at lower prices has a negative effect on the market share of major players in any area, which is expected to limit the market growth to a certain extent.
Top Companies in the Market Include:
Merck KGaA, Agilent Technologies, Waters Corporation, LGC Standards, and PerkinElmer, Inc., Restek Corporation, SPEX CertiPrep, AccuStandard, Inc., Thermo Fisher Scientific, Inc., Mallinckrodt, US Pharmacopeial Convention, Cayman Chemical Company, RICCA Chemical Company, GFS Chemicals, Inc., and Chiron AS.
Increasing focus on development of vaccines to combat COVID-19 pandemic and focus on preventive medicine to mitigate future epidemics and pandemics, rising number of product approvals for drugs and therapeutics, and rapid digital transformation in the pharmaceutical and healthcare industry are some key factors expected to drive revenue growth over the forecast period. With the social distancing norms in place and growing focus on telemedicine, digital technologies were adopted at an accelerated rate allowing healthcare professionals to efficiently manage health of the patients. One of the most crucial drivers of the pharma & healthcare industry is the rapid integration of artificial intelligence in key areas such as R&D, patient care, commercialization, and drug discovery and development. It has also led to a reduction in healthcare expenditure and improved efficiency of the systems which is expected to further contribute to revenue growth of the market going ahead.
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Furthermore, to offer a better understanding of the competitive landscape, an extensive SWOT analysis and Porter’s Five Forces analysis are included in the report. Along with this, feasibility analysis and investment return analysis are also covered. The report is segmented on the basis of product types offered in the market, application spectrum, and key regions of the Analytical Standards market.
Key Highlights in the Report:
- Among various technique segments, the chromatography segment is expected to account for largest market share during the forecast period. Large share of this segment can be attributed to presence of a large number of developed and emerging suppliers that offer a broad range of chromatographic standards across the world.
- The environmental analytical standards segment is expected to dominate other application segments in the analytical standards market during the forecast period.
- Among the various methodology segments, raw materials segment accounted forlargest share of the analytical standards market in 2020.
- Based on categories of analytical standards, organic standards are projected to register significantly higher demand as compared to the inorganic ones, since organic standards are widely used in the laboratory tests for detecting harmful chemicals.
- In 2020, North America accounted for highest analytical standards market share. Food testing labs, drug testing laboratories, environmental pollution monitoring laboratories, and forensic laboratories are well established in the region, especially in Canada and the U.S., which is driving market growth.
- Asia Pacific analytical standards market will be driven by the expanding pharmaceutical industry in the region.
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Segments Covered in the Report:
For the purpose of this report, Reports and Data has segmented the global analytical standards market report on the basis of technique, product, methodology, category and region:
Technique Outlook (Revenue, USD Million, 2018–2028)
- Chromatography
- Ion Chromatography
- Gas Chromatography
- Liquid Chromatography
- Thin Layer Chromatography
- Other chromatography
- Spectroscopy
- Atomic Absorption Spectroscopy
- Mass Spectroscopy
- IR Spectroscopy
- Nuclear Magnetic Resonance Spectrometry
- X-Ray Fluorescence/Diffraction Spectrometry
- UV/Vis Spectroscopy
- Other Spectrometry
- Titrimetry
- Physical Property Testing
- Viscosity Testing
- Sieve Calibration & Particle Size Testing
- Colour Reference testing
- Others
Product Outlook (Revenue, USD Million, 2018–2028)
- Food & Beverages Standards
- Flavor & Fragrance Standards
- Carbohydrate Standards
- Peptide/Amino Acid Standards
- Food Additive Standards
- Fatty Acid/Lipid/Fame Standards
- GMO (Geneticall Modified Organisms) Standards
- Mycotoxin Standards
- Forensic Standards
- Drugs of Abuse Standards
- Doping Standards
- Veterinary Drug Standards
- Antibiotic Standards
- Hormone Standards
- Petrochemistry Standards
- Gasoline, Diesel, and Petroleum Standards
- Biofuel Standards
- Environmental
- Pesticide Standards
- Volatiles/Semivolatiles Standards
- Flame Retardant Standards
- Aroclor/PCB, and Dioxin Standards
- Alkyl Phenol Standards
- Solid Waste Standards
- Pharmaceutical and Life Science Standards
- Cosmetic Standards
- Herbal Drug/Phytopharmaceutical Standards
- Pharmaceutical Secondary Standards
- Pharmaceutical Impurity Reference Standards
- Pharmacopoeia Standards
- Fluorescent Microparticle Standards
Methodology Outlook (Revenue, USD Million, 2018–2028)
- Bioanalytical Testing
- Stability Testing
- Raw material Testing
- Dissolution Testing
- Other Methodologies
Category Outlook (Revenue, USD Million, 2018–2028)
- Organic Analytical Standards
- Inorganic Analytical Standards
Key Regions Studied in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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