DUBLIN, Dec. 29, 2023 /PRNewswire/ — The “Global Analytical Standards Market by Category (Organic, Inorganic), Technique (GC, MS, LC, IR, NMR, Gravimetry), Method (Bioanalytical, Dissolution, Material Testing), Application (Food, Environmental, Pharmaceutical, Forensics) and Region – Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global analytical standards market is projected to reach USD 2.1 billion by 2028 from USD 1.5 billion in 2023, growing at a CAGR of 6.9%
This report studies the analytical standards market based on technique, application, methodology, category, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders.
The rise in adoption of analytical techniques in pesticide monitoring is one of the major factors anticipated to boost market growth in the forecasting years. Additionally, development of new analytical methods affect the growth of analytical standards market.
In 2022, a significant market share for analytical standards was held by the market in the North American region. The availability of government funding for life science R&D, the stringent drug development and food & environmental safety regulations led to the growth of the analytical standards market in this region.
The spectroscopy segment to hold the largest share of the market in 2023
Based on technique, the analytical standards market is segmented into chromatography, spectroscopy, titrimetry, and physical properties testing. The analytical standards market is expected to be dominated by spectroscopy during the forecast period. The use of spectroscopy technique is expected to propel due to the rise in the widespread use of spectroscopic techniques and the increasing research and development for drug development.
The pharmaceutical & life science standards segment to hold the largest share of the market in 2023
Based on application, analytical standards is segmented into food & beverages standards, forensic standards, veterinary drug standards, environmental standards, petrochemistry standards and pharmaceutical & life science standards. Pharmaceutical & life science standards is expected to dominate the analytical standards market during the forecast period. The growth is attributed to the increasing use of certified reference materials (CRMs) to ensure the quality of pharmaceuticals.
The raw material testing segment to hold the largest share of the market in 2023
Based on the methodology, the analytical standards market is segmented into raw material testing, bioanalytical testing, stability testing, dissolution testing, and other methodologies. The raw material testing segment is estimated to hold the largest market share of the analytical standards market during the forecast period. The increase in commercialization of parenteral drugs and rising disease prevalence are the major drivers for growth.
The organic analytical standards segment to hold the largest share of the market in 2023
The category market is segmented into organic analytical standards and inorganic analytical standards. Organic analytical standards accounted for the largest share of the global analytical standards market in 2022. This can be attributed to the increasing drug development & clinical trials, strong regulatory emphasis on effective pollution monitoring & control, and increasing public-private investment for various research.
Premium Insights
- Increasing Public-Private Investments in Research to Drive Market
- Pharmaceutical & Life Science Standards to Dominate Market During Forecast Period
- Organic Standards to Dominate Market During Study Period
- Spectroscopy to Command Largest Market Share During Study Period
- Raw Material Testing to Dominate Market During Study Period
- China to Register Highest CAGR During Forecast Period
Market Dynamics
Drivers
- Stringent Regulatory Scenario in Pharmaceutical Industry
- Rising Public Concerns Regarding Food Safety and Quality
- Increasing Public-Private Investments in Research
- Growing Applications of Analytical Techniques in Proteomics and Metabolomics
- Greater Regulatory Emphasis on Pollution Control
- Expansion of Pharmaceutical and Biotechnology Industries
- Increasing Adoption of Analytical Techniques in Pesticide Monitoring
Restraints
- Limited Public Awareness About Pollution Monitoring Strategies in Emerging Economies
- Stringent Storage Requirements for Analytical Standards
Opportunities
- Development of New Drugs Adhering to Good Manufacturing Practices
- Increasing Number of Clinical Trials
Challenges
- Lack of Full Spectrum of Analytical Standards
- Dearth of Skilled Laboratory Technicians
Company Profiles
Key Players
- Merck KGaA
- Agilent Technologies, Inc.
- Waters Corporation
- Restek Corporation
- Spex Certiprep
- Accustandard Inc.
- LGC Limited
- PerkinElmer, Inc.
- Thermo Fisher Scientific Inc.
- The United States Pharmacopeial Convention
- Mallinckrodt
- Cayman Chemical
- Ricca Chemical Company
- GFS Chemicals, Inc.
- Chiron AS
Other Players
- Cambridge Isotope Laboratories, Inc.
- Reagecon Diagnostics Ltd.
- CPI International
- Crescent Chemical Co. Inc.
- Inorganic Ventures
- Alfa Chemistry
- Biosynth
- HPC Standards GmbH
- Tokyo Chemical Industry Co. Ltd.
- Simson Pharma Limited
- Novachem
- Labsert
- Wellington Laboratories Inc.
For more information about this report visit https://www.researchandmarkets.com/r/rovlde
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