Global Analytical Standards Market

Analytical Standards Market: Insights

In the expected period from 2020 to 2026, a high compound annual growth rate would boost global demand for Analytical Norms. A compound with high purity and known concentration to be used as a reference standard for a given assay is an analytical standard. Standards for analytics are the biochemical values and properties evaluated by health institutions globally to be healthy and accessible. As regulatory standards are increasingly getting harder, the pressure on documentation of products and quality management for all sectors is rising. Increased adoption of analytical techniques in pesticide monitoring, along with the rising awareness for the detection of harmful hormones, are some of the major factors expected to increase the growth of demand for analytical norms. Moreover, the increased acceptance of flame retardant standards globally is also guiding the growth of the industry. Furthermore, some of the approaches that generate concern are the increasing solid waste in urban areas and growing R&D activities in the pharmaceutical sector, some of the projected factors for forecasting demand growth. However, the lack of trained laboratory technicians and insufficient public knowledge of successful emission management techniques that are likely to adversely hinder demand development during the projected period.

Analytical Standards Market: By Technique

This market can be clarified by four areas, chromatography, titrimetry, physical property testing, and spectroscopy, depending on the technique. The segment of the chromatography technique was expected to contribute most to global sales in this business field. This is due to the availability of a vast variety of mature and developing manufacturers worldwide who offer a wide range of chromatographic standards. Moreover, the increasing use of chromatography in the fields of environmental testing, food testing, cosmetics, chemistry, science, forensics, oil, and petrochemicals, among others.

Analytical Standards Market: By Product

The industry is classified into product-based sections: food & beverage standards, veterinary drug standards, forensic standards for pharmaceutical and life sciences, petrochemical standards, and environmental analytical standards. Across all applications, the environmental analytical standards division is projected to contribute more to global revenues in the industry. This is due to increasing pollutant emissions, environmental regulatory requirements, raising awareness of the value of a sustainable atmosphere, loss of environmental standards, and the production of solid waste.

Analytical Standards Market: By Methodology

According to the methodology study, this market can be represented in five categories, namely: bioanalytical testing, raw material testing, dissolution testing, stability testing, and other methodologies. The raw materials testing division is expected to add more to global sales in the industry through all methodologies. This is attributed to the growing production of pharmaceutical and petrochemical products, the substantial development of the food & beverage industry, and the regulatory compliance focus on medicine and food & beverage safety around the world.

Analytical Standards Market: By Region

Centered on the local region, the analytical standards sector is divided into, among others, Europe, North America, Asia Pacific, and the Middle East & Africa, others. The North American area is expected to add to global revenues over the forecast timeframe. This is owing to the large per capita annual healthcare investment by the U.S. and Canadian governments, which is due to quick usability and fast penetration of modern analytical technology. The Asia-Pacific region is expected to see substantial growth at a high CAGR pace in emerging regions. The rising food security issues in India and the development in the biotechnology and pharmaceutical industries are some of the factors influencing the growth of the sector.

Analytical Standards Market: Share & Competitor Analysis

The key players competing in this market are Merck KGAA, Waters Corporation, Spex Certiprep, Lgc Standards, Perkinelmer, Inc., The United States Pharmacopeial Convention (USP), Cayman Chemical Company, Ricca Chemical Company, Chiron As., Agilent Technologies Inc., Restek Corporation Accustandard Inc., Thermo Fisher Scientific, Inc., Mallinckrodt, and GFS Chemicals, Inc. among others.

Please note: This is not an exhaustive list of companies profiled in the report.

In September 2020, Restek Corporation has adopted the latest standards, i.e. Ochratoxin A & Aflatoxin Standards.

In May 2020, Waters Corporation has developed an innovation and testing laboratory in Massachusetts for the innovation of analytical and consumable goods.

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