Overview and Scope
An analytical standard is a high-grade compound and 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.
Sizing and Forecast
The analytical standards market size has grown strongly in recent years. It will grow from $1.57 billion in 2023 to $1.69 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to emerging markets growth, the stringent regulatory scenario in the pharmaceutical industry, the increasing strict quality regulations for drug manufacturers, the expansion of pharmaceutical and biotechnology industries worldwide and the increased adoption of analytical techniques in pesticide monitoring.
The analytical standards market size is expected to see strong growth in the next few years. It will grow to $2.21 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to the government support, the improving healthcare infrastructure/expenditure, the rising public concerns related to optimal food safety and quality, the greater regulatory emphasis on effective pollution monitoring and control and patent expiry for major pharmaceutical drugs. Major trends in the forecast period include the government support, the improving healthcare infrastructure/expenditure, the rising public concerns related to optimal food safety and quality, the greater regulatory emphasis on effective pollution monitoring and control and patent expiry for major pharmaceutical drugs.
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Segmentation & Regional Insights
The analytical standards market covered in this report is segmented –
1) By Type: Organic Standards, Inorganic Standards
2) By Technique: Chromatography, Spectroscopy, Titrimetry, Physical Property Testing
3) By Application: Bioanalytical Testing, Stability Testing, Raw Material Testing, Dissolution Testing, Microbiology Testing, Physical Properties Testing, Toxicity Testing, Contamination Testing, QA/QC Testing, Proficiency Testing, Other Applications.
4) By End User: Food And Beverages Standards, Forensic Standards, Veterinary Drug Standards, Petrochemistry Standards, Environmental, Pharmaceutical And Life Science Standards, Other End Users.
North America was the largest region in the analytical standards market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the analytical standards market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising public concerns related to optimal food safety and quality are predicted to boost the growth of the analytical standards market over the coming years. Consumption of contaminated and adulterated food comprising chemical compounds, dangerous bacteria, parasites, and viruses produces more than 200 diseases ranging from diarrhea to cancer. Analytical techniques such as mass spectrometry and chromatography are widely employed by food testing laboratories to scan for spoilage and guarantee food safety. For instance, in May 2022, according to the World Health Organization, a Switzerland-based Intergovernmental organization, every year 420000 people die and 600 million people fall unwell from eating contaminated food, accounting for about one in ten deaths worldwide and 33 million DALYs (disease-avoidable life years). Therefore, the rising public concerns related to optimal food safety and quality drive the growth of the analytical standards market.
Key Industry Players
Major companies operating in the analytical standards market report are Merck KGaA, Agilent Technologies Inc., Thermo Fisher Scientific Inc., Waters Corporation, PerkinElmer Inc., Mallinckrodt, LGC Standards, Restek Corporation, GFS Chemicals Inc., RICCA Chemical Company, Spectro Analytical Labs, Takara Bio Inc., Shimadzu corporation, GL sciences Inc., Tosoh corporation, TCI chemicals, Abbott Laboratories, Sysmex Corporation, Mindray Medical International Limited, Shanghai Kehua Bio-Engineering Co. Ltd., Cambridge Isotope Laboratories, Seron Technologies, Starna Scientific Ltd., Bernd Kraft GmbH, VICI AG International, Armin, European Directorate for the Quality of Medicines & HealthCare (EDQM), Nanolek, Wessling Romania SRL, Anahem, Trilogy Europe B.V, Alpen Pharma AG, Spex Certiprep, Accustandard, Cayman Chemical Company, Chiron As, T&E-AnalÃtica, OLib, SGS, JLA Argentina, Galab Peru, NSF-INASSA, Huber group, Eurofins, Alicorp, Gulf Bio Analytical, GHP Testing & Calibration Lab, Lab Gulf, Novartis Pharma, Rafa Labs, Julphar, Industrial Analytical (Pty) Ltd., USP, Mettler-Toledo LLC, OI Corporation, Bruker Corporation
The analytical standards market report table of contents includes:
1. Executive Summary
2. Analytical Standards Market Characteristics
3. Analytical Standards Market Trends And Strategies
4. Analytical Standards Market – Macro Economic Scenario
5. Global Analytical Standards Market Size and Growth
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31. Analytical Standards Market Other Major And Innovative Companies
32. Global Analytical Standards Market Competitive Benchmarking
33. Global Analytical Standards Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Analytical Standards Market
35. Analytical Standards Market Future Outlook and Potential Analysis
36.Appendix
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