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The analytical standards market size is estimated to grow by USD 657.8 million at a CAGR of 6.78% between 2023 and 2028. Increased public interest in optimal food safety and quality is a significant driver for the growing demand. Consumers today pay more attention to the foods they eat, demanding transparency, traceability, and assurances of safety and quality. Regulatory agencies worldwide, such as the FDA and EMA, are responding to consumer concerns by imposing stricter regulations on food safety and labeling. Contaminants such as pesticides, heavy metals, allergens, and pathogens in food are becoming more and more of a concern for consumers. Analytical standards assist in accurately detecting and quantifying allergens, preventing cross-contamination, and providing safe options for allergic individuals. The demand is driven by increasing public interest in the best possible food safety and quality as a crucial tool for ensuring transparency, accuracy, and compliance with regulations. It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2018 to 2022 besides analyzing the current market scenario.
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The market encompasses a wide range of applications in various industries, including Proteomics and Metabolomics in the field of Food Safety and Quality Control. Food testing relies heavily on Chromatography techniques, such as Liquid Chromatography (LC) and Gas Chromatography (GC), coupled with Mass Spectrometry (MS) and Spectroscopy for accurate identification and quantification of contaminants and adulterants. In the realm of Respiratory Infections and Diseases, accreditations and adherence to ISO standards are crucial for ensuring reliable and accurate analytical results. Veterinary drugs and Pharmaceuticals undergo rigorous Physical Property Testing to ensure efficacy and safety. The Petrochemical and Pharmaceutical industries also heavily rely on for Titrimetry and Titration methods to ensure product quality and consistency. Thermo Fisher Scientific and CD Bioparticles are key players in providing high-quality for various applications, ensuring compliance with FDA regulations.
Rapid growth in the life science industry is driving growth in the market. The Market is experiencing significant growth due to the increasing demand from the life sciences and healthcare industries. This expansion is driven by the rapid growth of the biopharmaceutical sector, which is nearly double the rate of the pharmaceutical industry. The biopharmaceutical industry utilizes life science reagents and extensively for biomarker development, manufacturing, drug discovery, and therapeutic drug monitoring. The Food and Drug Administration (FDA) plays a crucial role in ensuring the quality and safety of these standards, making their demand even more imperative in the industry. The stringent regulations related to life science research and process validation and standardization increase the demand, which will boost the growth of the market during the forecast period.
The increasing importance in quality control is a key trend in an analytical standard market. In the market, vendors specialize in custom synthesis, providing a range of options from milligrams to kilograms. They employ advanced methods for reagent synthesis and maintain stocks for quick backorders. Companies prioritize seamless scale-up options and efficient transportation to large-scale manufacturing facilities and GMP facilities. FDA-compliant entities, such as AccuStandard, excel in the specialized synthesis of high-purity chemicals used as reference standards for various organic pollutants and their metabolites. These standards are crucial for ensuring accuracy and consistency in analytical testing. The demand for precise, reliable, and certified analytical standards is going to continue to grow as the industry continues to focus on quality control of products and processes, which is expected to boost the growth of the global market in focus during the forecast period.
The limited shelf life of analytical standards is a major challenge in an analytical standard market. In the analytical industry, the use of analytical standards as reference materials for calibrating instruments and validating methods is essential. However, these standards face the challenge of maintaining their stability and accuracy over time due to their limited shelf life. Exposure to contaminants, such as air, moisture, or other substances, can lead to degradation and alteration of the standards. Some standards may undergo physical changes, such as crystallization, aggregation, or evaporation, which can impact their accuracy. Incorrect storage conditions, including high temperatures and humidity, can expedite the degradation process. The Food and Drug Administration (FDA) sets regulations for the production, labeling, and use to ensure their reliability and consistency. Thus, the limited shelf life may hamper the growth of the global market in focus during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AccuStandard Inc.- The company offers analytical standards such as reference materials, certified reference materials, and laboratory controls for use in a wide range of analytical applications, including life sciences, environmental testing, and forensics.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the chromatography segment will be significant during the forecast period. The Market encompasses various industries, including pharmaceutical, life sciences, petrochemical, and food products. Chromatography technology, a key contributor to this market, excels in bioanalytical testing and raw material verification through its ability to identify and separate impurities. This technique's popularity is driven by the availability of instruments, reagents, and reference standards for techniques like liquid chromatography and gas chromatography. In conjunction with other analytical instruments, such as mass spectrometers, chromatography enhances acceptance. The market caters to diverse sectors, including clinical trials, accreditations, and ISO standards. Calibration standards are essential for physical property testing, metabolite analysis, and diseases diagnosis in physiological states.
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The chromatography segment was valued at USD 488.6 million in 2018. The market serves veterinary drugs, biologic drugs, and drug discovery in the healthcare and biopharmaceutical industries. Business strategies and segments include custom synthesis, pesticides, and cancer and chronic disease research. Key players include Thermo Fisher Scientific, CD Bioparticles, and others. Techniques like titrimetry and thermo Fisher Scientific's offerings contribute to the market's growth. Applications include genomics data, drug molecules, and biomarkers in the life sciences industry.
Food and beverages
As regulatory standards become more stringent in the food and beverages industry, the pressure for product documentation and quality control is increasing. The Analytical Standards Market is experiencing significant growth due to increasing regulatory requirements from organizations such as the Food and Drug Administration (FDA). With stricter regulations in the food and beverages industry, there is a heightened demand for product documentation and quality control. This has led to an increased adoption of analytical techniques for pollutant monitoring and the detection of harmful hormones. Furthermore, the global acceptance of flame-retardant standards is also contributing to market growth. Additionally, concerns over solid waste management in urban areas and ongoing R&D activities in the food and beverages sector are predicted to further boost demand.
Pharmaceuticals and life sciences
The demand in the pharmaceutical industry is driven by several critical factors, primarily related to quality assurance, regulatory compliance, research and development, and product safety. Pharmaceutical products must meet stringent quality standards to ensure their safety and efficacy. Ensuring product quality, safety and compliance with applicable regulations is a major reason for the increasing demand for chemical testing standards in the pharmaceutical sector. This demand is likely to continue as the pharmaceutical industry evolves, emphasizing precision medicine, personalized therapies, and advanced drug development techniques, which, in turn, will boost the growth of the global market during the forecast period.
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North America is estimated to contribute 46% to the growth of the global market during the market forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The Market in North America is expected to dominate due to the region's focus on Bioanalytical testing and Raw material testing, driven by a significant number of market participants, higher affordability, and supportive government initiatives.
Further, the need for high-quality medicines and food products, particularly in the context of diseases like HIV, necessitates stringent accreditations and adherence to ISO standards. Calibration standards, such as titration, are crucial for ensuring the accuracy of Physical property testing in various industries, including Pharmaceutical, Life science, Veterinary drug, Petrochemical, and Industrialization. Metabolite analysis, a key aspect of the Life sciences industry, involves the examination of Cell metabolites, Genomics data, and Drug molecules to aid in Drug discovery and Custom synthesis. Business strategies and segments span across Pesticides, Cancers, Chronic diseases, Biomarkers, Biologic drugs, and the Healthcare and Pharmaceutical market. Technologies like Thermo Fisher Scientific's Liquid chromatography and Gas chromatography play a significant role in ensuring the quality of various products. Key players include Thermo Fisher Scientific, CD Bioparticles, and others.
The market report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
Laboratory Analytical Instruments and Consumables Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, China, Germany, UK, Japan - Size and Forecast
Chromatography Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, China, Japan, France - Size and Forecast
Pharmaceutical Analytical Testing Outsourcing Market by Service and Geography - Forecast and Analysis
In the realm of business and finance, Analytical Standards play a pivotal role in ensuring accuracy and reliability in various industries. The Metrics and measurements sector is a significant consumer of Analytical Standards, particularly in testing and quality control processes. Food safety is another crucial area where Analytical Standards are indispensable, with regulations requiring precise and consistent testing for controllable and dangerous substances. Carbon and other gases are also measured using Analytical Standards in industries such as oil and gas, power generation, and environmental monitoring. The Canter Laboratories, for instance, provide a comprehensive range of analytical services, including testing and certification, using state-of-the-art technology, and adhering to international standards. The Infrastructure sector also relies on Analytical Standards for testing and monitoring concrete and other materials to ensure structural integrity and safety. The Environmental sector uses Analytical Standards for monitoring and managing wastewater and air quality, ensuring regulatory compliance and public health. The Allylical Analytical Laboratory offers a range of analytical services, including testing and certification, using advanced techniques and cutting-edge technology. The Petrochemical industry uses Analytical Standards for process control and product quality, ensuring efficiency and profitability. The Precision and Accuracy required in these industries necessitate the use of Analytical Standards, making them an essential component in various sectors.
Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.78% |
Market growth 2024-2028 |
USD 657.8 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.23 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 46% |
Key countries |
US, Germany, China, UK, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AccuStandard Inc., Agilent Technologies Inc., Antylia Scientific, Cayman Chemical, General Electric Co., GFS Chemicals Inc., I.V. Labs Inc., JSC Labochema LT, LGC Science Group Holdings Ltd., Mallinckrodt Plc, Merck KGaA, Perkin Elmer Inc., Reade International Corp., Restek Corp., Ricca Chemical Co., Shimadzu Corp., Takara Holdings Inc., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd., and Waters Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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