The Worldwide Analytical Standards Industry is Expected to Reach $2.1 Billion by 2027 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Analytical Standards Market, By Category, By Technique, By Method, By Application, Estimation & Forecast, 2017 - 2027" report has been added to ResearchAndMarkets.com's offering.

The global analytical standards market held a market value of USD 1,432.7 Million in 2020 and is estimated to reach USD 2,168.5 Million by the year 2027. The market is anticipated to register a CAGR of 6.1% during the forecast period.

Analytical standards are a compound of known concentration and high purity meant to be used as a calibration standard for a particular assay. The market is anticipated to be driven by the expansion of pharmaceutical & biotechnology industries worldwide coupled with the rising concerns for optimal food safety & quality. Furthermore, rising regulatory emphasis on effective pollution monitoring & control coupled with increasing applications of analytical techniques in metabolomics & proteomics is also estimated to boost the market growth.

The market is expected to be restrained by the limited public awareness related to effective pollution monitoring strategies. The decline in the demand for products and services negatively influenced the market growth during the pandemic. Companies in the market also experienced a decline in their revenues owing to COVID-19.

Growth Influencers:

Expansion of pharmaceutical and biotechnology industries worldwide

Increasing research activities for the development of novel treatment and diagnostic options is leading to the rapid expansion of pharmaceutical and biotechnology industries globally. This is also fueling the demand for maintaining analytical standards in both industries. Therefore, the expansion of pharmaceutical and biotechnology industries worldwide is anticipated to boost the market growth during the forecast period.

Rising concerns for optimal food safety and quality

One of the major concerns globally is the low quality of food or contaminated food. Rising awareness regarding this concern is increasing the demand for maintaining optimal food quality and safety. Therefore, the adoption of analytical techniques such as chromatography and mass spectrometry, among others is boosting the market growth. Furthermore, government regulations for maintaining food quality are also expected to drive market growth.

Regional Overview

By region, the global analytical standards market is divided into Europe, North America, Asia Pacific, Middle East & Africa, and South America.

The North American region is expected to hold the largest market share owing to the presence of a well-established market and easy accessibility for advanced analytical technologies owing to the high healthcare expenditure in Canada and the United States.

The Asia Pacific region is anticipated to grow at the fastest rate owing to increasing research & development activities related to chromatography and the growing outsourcing market in the region.

Segments Overview:

The global analytical standards market is segmented into category, technique, method, and application.

By Category

• Inorganic
• Organic

The inorganic segment is expected to hold the largest market share. The organic segment is also estimated to grow significantly owing to the rising number of clinical trials and usage of drug development activities.

By Technique

• Chromatography
• Spectroscopy
• Titrimetry

The chromatography segment is anticipated to hold the largest market share of more than 44% owing to the presence of numerous emerging as well as matured companies manufacturing a varied range of chromatographic standards across the globe.

By Method

• Material Testing
• Bioanalytical
• Dissolution

The material testing segment is anticipated to hold the dominant share of the market owing to the rising adoption of this method for maintaining analytical standards in various industries. The dissolution and the bioanalytical segment are also expected to grow significantly.

By Application

• Pharmaceutical
• Food & Beverages
• Forensics
• Environmental

The environmental segment held the largest market share owing to the increasing emission of pollutants in the environment and rising awareness regarding the importance of a clean environment.

Companies Mentioned

• Merck KGaA
• Chiron AS
• LGC Standards
• Waters Corporation
• Agilent Technologies
• Thermo Fisher Scientific, Inc.
• PerkinElmer, Inc.
• Restek Corporation
• SPEX Certi Prep
• Accu Standard, Inc.
• Mallinckrodt
• US Pharmacopeial Convention

For more information about this report visit https://www.researchandmarkets.com/r/ejwufg

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