The presence of a particular substance in a mixture can be marked with the help of already established standards. Thus, standards may increase quantitative analysis’s precision, may help in calibration etc. There are various standards offered for chromatography, electrophoresis, microscopy, spectroscopy, and others. Such techniques are utilized across a spectrum of industries, i.e., right from pharmaceutical to petrochemical. The global market for analytical standards is estimated to grow with a CAGR of 6.1% during the forecast period. The market is projected to reach $2284.13 million by 2027 from $1518.6 million in 2021.
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The major drivers for the market growth includes expansion of pharmaceutical & biotechnology industries worldwide and rising concerns for optimal food safety & quality. With the growing stringent regulatory policies for drugs and food, the manufacturers are focusing on quality. They are effortful in avoiding any contaminant so as to receive quick approvals and avoid product recalls. The process becomes extremely important when considering biologics/drugs for medical conditions like cancers, diabetes, etc. It is reported that in US from January 2013 – October 2018, almost 8,000 medications were recalled by manufactures. Such trends coupled with growing pharma & biotech industry creates a significant demand for analytical standards. The US pharma market was estimated to be about $62,220 million in 2018. Additionally, the growing support for R&D activities is boosting the market. Since, January 2020- the German government passed a law allowing tax credit for R&D activities. Following the course, companies like Chiro offer 25% tax incentives for R&D projects. However, low awareness on how analytical standards can be effectively used in pollution monitoring strategies is estimated to restraint the market growth during the forecast period.
- Material Testing
- Food & Beverage
- North America
- Asia Pacific
- Middle East & Africa
- South America
- By category, inorganic segment led the market in 2021 Vs organic
- By technique, chromatography was the largest segment (more than 44%) of the global market
- Material testing was the largest segment by method in the global analytical standards market
- Environmental segment was the largest in 2021
- By region, the Americas was generating the largest revenues in 2021. Asia Pacific was estimated to be the fastest growing region
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 for analyzing PAHs, chemical warfare degradation products, PCBs, phenols, air pollutants etc. 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 analytical reference standards catalog. These standard compounds were aimed to be utilized by pharmaceutical manufacturers for the need to validate product quality and the integrity of their production systems.
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