Global Analytical Standards Market Size to Reach USD 2,284.13 Million by 2027, at a CAGR of 6.1% – Astute Analytica

The presence of a particular substance in a mixture can be marked using already established standards. Thus, standards can increase the precision of quantitative analysis, can help in calibration, etc. There are various standards offered for chromatography, electrophoresis, microscopy, spectroscopy and others. These techniques are used in a wide range of industries, i.e. from pharmaceuticals to petrochemicals. The global analytical standards market is expected to grow with a CAGR of 6.1% during the forecast period. The market is expected to reach $2284.13 million by 2027 from $1518.6 million in 2021.

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The major drivers of market growth include the expansion of pharmaceutical and biotechnology industries across the globe and growing concerns regarding optimum food safety and quality. With increasingly stringent drug and food regulatory policies, manufacturers are focusing on quality. They strive to avoid any contaminants in order to receive quick approvals and avoid product recalls. The process becomes extremely important when considering biologics/drugs for medical conditions such as cancers, diabetes, etc. It is reported that in the United States from January 2013 to October 2018, nearly 8,000 drugs were recalled by manufacturers. These trends, coupled with the growth of the pharmaceutical and biotechnology industry, create a significant demand for analytical standards. The US pharmaceutical market was estimated at around $62,220 million in 2018. Additionally, growing support for R&D activities is driving the market. Since January 2020, the German government has passed a law allowing the tax credit for R&D activities. After the course, companies like Chiro offer 25% tax incentives for R&D projects. However, low awareness on how analytical standards can be effectively utilized in pollution monitoring strategies is estimated to restrain the market growth over the forecast period.

Segment overview

By category

By techniques

  • Chromatography
  • Spectroscopy
  • Titrimetry

By method

  • Materials testing
  • Bioanalytical
  • Dissolution

By app

  • Pharmaceutical
  • food and drinks
  • Forensic medecine
  • Environment

By region

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South America

Key points to remember

  • By Category, Inorganic Segment Dominated the Market in 2021 Vs Organic
  • By technique, chromatography was the largest segment (over 44%) of the global market
  • Materials testing was the largest segment by method in the global analytical standards market
  • The environmental segment was the largest in 2021
  • By region, the Americas generated the largest revenues in 2021. Asia-Pacific was estimated as the fastest growing region

Competitive landscape

Merck KGaA, Chiron AS, LGC Standards, Waters Corporation, Agilent Technologies, Thermo Fisher Scientific, Inc., PerkinElmer, Inc., Restek Corporation, SPEX Certi Prepm Accu Standard, Inc., Mallinckrodt, US Pharmacopeial Convention, Cayman Chemical Company, RICCA Chemical Company, GFS Chemicals, Inc., Noramco and others are some of the major market players.

Players like Merck offer organic pollutant standards that can be used to analyze PAHs, chemical warfare breakdown products, PCBs, phenols, air pollutants, and more. While Waters Corporation is a major player in providing analytical standards for chromatography.

In 2018, Noramco announced the addition of 23 new compounds to its catalog of analytical reference standards. These standard compounds were intended for use by pharmaceutical manufacturers for the need to validate product quality and the integrity of their production systems.

For more market insights with detailed table of contents and figures, click here: https://www.astuteanalytica.com/industry-report/analytical-standards-market

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