[LONDON, 29-07-2022], Organic standards are expected to grow at a 6% rate, while inorganic standards will fall from 1.8% to 1.1% by 2030
The growth trend for Organic Standards is expected to continue above 6% with more than a 75% share of the market, while Inorganic Standards are trending at less than 2% growth and falling from 33% to 23% market share by 2030.
Historically, the three major regions in the Analytical Standards Market – North America (CAGR 5.3%), Asia Pacific (CAGR 4.7%), and Western Europe (CAGR 4.3%) – have shown steady growth between 2011 and 2021, with North America leading the trend. South America witnessed the strongest bounce-back from COVID (2019-2020) in 2020-2021, with 6.3% growth, but commands less than 4% of the global market.
Growth in the historic period was encouraged by growth in the pharmaceutical and biotechnology industries; increased adoption of analytical techniques in pesticide monitoring; stringent regulatory scenarios in the pharmaceutical industry; and increased investment by manufacturers to develop products for new or improved applications.
The high future growth in organic standards is coming from the Asia-Pacific region, which will see its market share rise from 27% in 2020-2021 to 29% by 2030, putting the region in second place, behind North America. The North American market share is expected to remain stable at 33%, and likewise, the Western European market will remain in third place with a 23% share of the market.
However, market inhibitions and restraints such as patent expiry, skilled labor shortages, and capital investment barriers to entry could put a check on growth in the forecast period.
The analytical standards market consists of sales of analytical standards and related products by entities (organizations, sole traders, and partnerships) that manufacture analytical standards. An analytical standard is a high-grade compound at a defined concentration to be used as a calibration standard for a specified experiment. Analytical standards are introduced in all fields, such as veterinary, life sciences, food and beverage, forensics, environmental and pharmaceutical industries.
The market contains two segments – Organic and Inorganic Standards. Organic Standards account for 68% of the market and are expected to rise to a 77% market share by 2030:
Organic Standards are manufactured based on organic chemistry and used for validation of methods, quality control studies, and/or calibration of analytical devices, including proteins, peptides, cells, and organisms. They are mostly used in environmental analysis laboratories, food analysis laboratories, research and development laboratories, and criminal investigation laboratories.
Inorganic Standards are Certified Reference Materials are produced and calibrated under CPAchem’s quality system: ISO 9001, and accredited according to ISO/IEC 17025-testing and ISO 17034-reference material producer. They are used in industrial and manufacturing QC, chemical production, power production, pharmaceutical and environmental labs.
The major competitors in the analytical market are:
- Merck KGaA
- Agilent Technologies, Inc.
- Waters Corporation
- PerkinElmer, Inc.
- Thermo Fisher Scientific Inc
as per the data on the Global Market Model.
The Analytical Standards Market Report is one of a series of new reports from The Business Research Company that provides analytical standards market overviews, analyzes and forecasts analytical standards market size, share, analytical standards market players, analytical standards market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.
Related reports on this topic include:
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