Meticulous Research – leading global market research company published a research report titled “Analytical Standards Market by Type, Category (Primary, Secondary), Technique (Spectroscopy, Chromatography, Titrimetry), Industry [Environmental, Food (GMO, Carbohydrate), Petrochemistry (Diesel, Gasoline), Forensics], and Application- Global Forecast to 2027”.
According to this latest publication from Meticulous Research, the analytical standards market is expected to grow at a CAGR of 6.8% from 2020 to 2027 to reach $2.66 billion by 2027. The growth in the analytical standards market is mainly attributed to growing regulatory emphasis on pollution monitoring and control, rising consumer awareness regarding optimal food safety and quality, and the growing footprint of veterinary sciences. The recent COVID-19 pandemic has further led to increased penetration of analytical standards in the pharmaceutical industry. The lack of analytical standards for identifying a complex mixture of compounds is hindering the market growth.
Analytical Standards Market: Future Outlook
The analytical standards market study presents, historical market data in terms of values (2018 and 2019), estimated current data (2020), and forecasts for 2027 –Type (Organic, Inorganic), Category (Primary, Secondary), Technique [Spectroscopy (Atomic Absorption Spectroscopy, Mass Spectroscopy, IR Spectroscopy, Nuclear Magnetic Resonance Spectrometry, X-Ray Fluorescence/Diffraction Spectrometry, UV/Vis Spectroscopy, and others), Chromatography (Ion Chromatography, Gas Chromatography, Liquid Chromatography, Thin Layer Chromatography, and Others), Titrimetry, Physical Properties Testing (Viscosity Testing, Sieve Calibration & Particle Size Testing, Colour Reference Testing, and Others)], Industry [Environmental Testing (Pesticide Standards, Volatile Standards, Solid Waste Standards, Flame Retardant Standards, Others), Food and Beverage (Allergen Standards, Dyes and Metabolites Standards, GMO Standards, Mycotoxins Standards, Nutritional Composition Compound Standards, Flavor & Fragrance Standards, Carbohydrate Standards, and Peptide/Amino Acid Standards), Pharmaceuticals & Life Sciences (Impurity Reference Standards, Phytochemicals/ Phytopharmaceutical Standards, Cosmetic Standards, API Standards, Pharmaceutical Toxicology Standards, Pharmacopeial Standards, and Others), Petrochemistry (Diesel, Gasoline, Matrix Oils, and Petroleum Standards and Biofuel Standards), Forensics and Veterinary Sciences], Application (Microbiology Testing, Physical Properties Testing, Toxicity Testing, Contamination Testing, QA/QC Testing, Proficiency Testing, Stability Testing, and Others), and Geography.
The study also evaluates industry competitors and their market share at a global and regional level.
Based on type, the organic standards segment is estimated to account for the largest share of the analytical standards market in 2020. The growing demand for organic standards in ascertaining the presence of organic impurities in various application industries and preference for organic standards, especially in quality control studies, validation of methods, calibration of chromatography devices, such as GC, GC-MS, HPLC are some of the major drivers for the growth of this segment. Moreover, the increasing number of clinical trials & drug development studies and rising public-private investment for research studies are also supporting this segment’s growth.
Based on technique, the chromatography segment is projected to account for the largest share of the market in 2020. The largest share is primarily attributed to technological advancements in gas and high-performance liquid chromatographic separations and rising preference for gas chromatography & liquid chromatography in the drug approval process for the separation and purification of APIs, excipients, and raw materials.
Based on industry, the environment segment is estimated to account for the largest share of the analytical standards market in 2020. The increasing number of pollutants, rising government initiatives for reducing pollution, and growing awareness for maintaining a clean environment are the major drivers for this segment.
Based on application, the microbiology testing segment is projected to grow at the highest CAGR during the forecast period. The growing biologics and biosimilars sectors and emerging pharma manufacturing hotspots are the factors contributing to market growth. Analytical standards are used for various applications, including identifying elemental impurities, qualification of Active Pharmaceutical Ingredients (APIs), and determining the sterility of end products in the pharma industry.
This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America, and the Middle East & Africa. North America is estimated to command the largest share of the analytical standards market in 2020, followed by Europe and the Asia-Pacific. However, the Asia-Pacific is expected to grow at the fastest CAGR during the forecast period. Growth in this market is expected to be driven by developing economies, a growing pharma market, and rising industrial manufacturing investments.
The key players operating in the global analytical standards market report are Merck KGaA (Germany), Agilent Technologies, Inc. (U.S.), Waters Corporation (U.S.), PerkinElmer, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Restek Corporation (U.S.), Takara Bio Inc. (Japan), SPEX CertiPrep. (U.S.), LGC Limited (U.K), and AccuStandard (U.S.).
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