CHICAGO, Oct. 17, 2023 /PRNewswire/ -- The analytical standards industry is poised for significant growth in the near future, driven by advancements in technology and increasing demands for precision and reliability in various sectors such as pharmaceuticals, environmental monitoring, and food safety. With the rise of complex analytical techniques, there will be an escalating need for certified reference materials and calibration standards to ensure the accuracy and consistency of analytical results. Additionally, the globalization of supply chains and stringent regulatory requirements will foster greater standardization and quality assurance, positioning the industry to play a pivotal role in maintaining the integrity of scientific measurements and the safety of products worldwide. This sector's evolution promises to be integral in facilitating innovation and ensuring the highest standards of quality in a rapidly evolving, data-driven world.
Analytical Standards Market in terms of revenue was estimated to be worth $1.5 Billion in 2023 and is poised to reach $2.1 Billion by 2028, growing at a CAGR of 6.9% from 2023 to 2028 according to a new report by MarketsandMarkets. Factors such as growth in the applications of analytical techniques in proteomics & metabolomics and the rising public concerns related to optimal food safety & quality are high growth prospects for the analytical standards market during the forecast period.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=8484789
Browse in-depth TOC on "Analytical Standards Market"
255 - Tables
30 - Figures
252 - Pages
Analytical Standards Market Scope:
Report Coverage | Details |
Market Revenue in 2023 | $1.5 Billion |
Estimated Value by 2028 | $2.1 Billion |
Growth Rate | Poised to grow at a CAGR of 6.9% |
Market Size Available for | 2021–2028 |
Forecast Period | 2023–2028 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Technique, Application, Methodology, Category and Region |
Geographies Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunities | Improving healthcare infrastructure across emerging countries |
Key Market Drivers | Rising public concerns related to optimal food safety & quality |
The spectroscopy segment is to register a significant growth rate over the forecast period of 2023-2028.
Based on the technique, over the forecast period of 2023-2028, the spectroscopy segment is to register a significant growth rate. The key factor encouraging the growth of this segment during the forecast period is the presence of a widespread use of spectroscopic techniques across a broad range of application areas along with increasing drug development R&D. The spectroscopy segment is further divided into atomic absorption spectroscopy, mass spectroscopy, IR spectroscopy, nuclear magnetic resonance spectroscopy, X-ray fluorescence/diffraction spectroscopy, UV/Vis spectroscopy.
The pharmaceutical & life sciences standards segment accounted for the largest share of analytical standards in 2023-2028.
Based on application, the pharmaceutical & life sciences standards segment is estimated to hold the largest market share of the analytical standards market during the forecast period. The rising popularity of traditional medicines, the increasing drug development in developed countries and the increasing use of certified reference materials (CRMs) to ensure the quality of pharmaceuticals, increasing awareness, regulations on cosmetic products lead to a large share of this segment.
Asia Pacific registered the highest CAGR in the market during the forecast period.
In 2023, Asia Pacific is expected to register the highest CAGR in the market for analytical standards during the forecast period. Asia Pacific comprises China, India, South Korea, Taiwan, and Singapore, and the rest of Asia Pacific. Factors such as the increasing focus on soil testing, food security concerns in India, high use of analytical technologies in Japan, an increasing number of clusters, high-growth opportunities for market players and the growing biotechnology, biomedical, and pharmaceutical industries in China are driving the growth of the APAC analytical standards market during the forecast period.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=8484789
Analytical Standards Market Dynamics:
Drivers:
1. Rising public concerns related to optimal food safety & quality
Restraints:
1. Limited public awareness related to effective pollution monitoring strategies
Opportunities:
1. Improving healthcare infrastructure across emerging countries
Challenge:
1. Patent expiry of major drugs and biomolecules
Key Market Players of Analytical Standards Industry:
As of 2022, prominent players in analytical standards are Merck KGaA (Germany), Agilent Technologies (US), Waters Corporation (US), LGC Standards (UK), PerkinElmer, Inc. (US), Restek Corporation (US), SPEX CertiPrep (US), AccuStandard, Inc. (US), Thermo Fisher Scientific, Inc. (US), and Mallinckrodt (UK) among others.
Recent Developments:
- In June 2023, Merck KGaA (Germany) invested 74 million USD (70 million Euro) for expanding production capacity for highly purified reagents at its site in Nantong, China.
- In August 2022, Agilent Technologies, Inc. (US) acquired Polymer Standards Service, broadening offerings for gel permeation chromatography (GPC) and size exclusion chromatography (SEC) polymer analysis.
- In June 2022, LGC Limited (UK) to act as global distributor of InBio's (US) purified food allergen reference materials expanding LGC's offering to more than 180 allergen reference materials for a range of applications including method development and method verification.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=8484789
Analytical Standards Market Advantages:
- Accuracy and Precision: Analytical standards provide a benchmark for accurate and precise measurements, enabling scientists and analysts to validate their instruments and methods, ensuring the reliability of data.
- Quality Control: They are crucial for quality control and assurance in various industries, such as pharmaceuticals, food and beverages, and environmental monitoring, helping maintain product consistency and safety.
- Regulatory Compliance: They assist organizations in meeting regulatory requirements by providing certified reference materials, which are often mandated for compliance with industry and government standards.
- Method Development: Analytical standards aid in method development and optimization, saving time and resources by providing a known reference point for calibration and validation.
- Interlaboratory Comparisons: They facilitate interlaboratory comparisons, making it possible to assess and improve the performance of different laboratories, ensuring harmonized results and enhancing trust in data.
- Research and Development: Analytical standards are vital in research and development, as they enable scientists to create and test new methodologies and technologies, fostering innovation in various fields.
- Globalization: With an increasingly interconnected world, analytical standards support global trade by offering common reference points for measurements, promoting consistency in international markets.
- Safety and Consumer Confidence: In sectors like food safety and pharmaceuticals, analytical standards play a crucial role in assuring product safety and maintaining consumer confidence in the quality of goods.
- Environmental Protection: They are indispensable in environmental monitoring and sustainability efforts, helping to assess pollution levels, detect contaminants, and ensure compliance with environmental regulations.
- Data Integrity: Analytical standards contribute to maintaining the integrity of scientific data, which is fundamental in decision-making processes, research, and policy development.
Related Reports:
Mass Spectrometry Market - Global Forecasts To 2028
Gas Chromatography Market - Global Forecasts to 2025
High-performance Liquid Chromatography Market - Global Forecasts to 2025
UV/Visible Spectroscopy Market - Global Forecasts to 2025
Chromatography Instruments Market - Global Forecasts to 2025
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/analytical-standards-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/analytical-standards.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/analytical-standards-market-worth-2-1-billion--marketsandmarkets-301958736.html
Voltar noticias em Inglês