Global Analytical Standards Market

Analytical Standards Market Size, Share, Growth Analysis, By Category (Organic Standards, Semi-Volatile Organic Compounds), By Technique, By Methodology, By End User Industry, By Region - Industry Forecast 2024-2031


Report ID: SQMIG20Q2007 | Region: Global | Published Date: February, 2024
Pages: 265 | Tables: 124 | Figures: 77

Analytical Standards Market Dynamics

Analytical Standards Market Driver

Growing Applications in Proteomics and Metabolomics

  • The significant factors driving growth of the analytical standards market include the expanding applications of analytical standards in proteomics and metabolomics as well as the rising global importance of pollution control monitoring. Additionally, encouraging government initiatives, growing public concerns about the best possible food safety and quality, increased emphasis on healthcare quality, and a growing need to check the patent expiration of patented products all contribute to the overall market growth. It is also anticipated that the increased regulatory emphasis on efficient pollution monitoring and control will accelerate market expansion overall during the forecast period.
  • Globally, food contamination poses serious threats to life. Foodborne illnesses, mercury poisoning, allergic reactions, and food intoxication can all result from eating contaminated or unsafe food. Food testing labs frequently use methods like mass spectrometry, chromatography, and other analytical techniques to look for adulteration and guarantee food safety which is driving market growth. Additionally, research organisations partner with significant market participants to use their cutting-edge product offerings to guarantee the safety of food.

Analytical Standards Market Restraint

Low Awareness to Hamper Market Growth

  • The market expansion is hindered by factors like the low public awareness of efficient pollution monitoring techniques. Various respiratory infections, respiratory diseases, allergic reactions, and cancer are all caused by the rising pollution levels. Serious environmental changes like decreased crop yields, altered weather patterns, and the greenhouse effect are also brought on by environmental degradation.
  • Government initiatives and the effects of air and water pollution on health are widely known. Despite there is a huge lack of interest for conducting pollution monitoring tests carried out using analytical techniques such as liquid chromatography, gas chromatography, and IR/UV spectrometry.
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FAQs

Global Analytical Standards Market size was valued at USD 1.32 billion in 2022 and is poised to grow from USD 1.42 billion in 2023 to USD 2.47 billion by 2031, growing at a CAGR of 6.5% during the forecast period (2024-2031). 

Global analytical standards market is moderately fragmented due to the presence of prominent players in the market landscape. Major players use product quality offered and technology employed to produce high performance poly amides as the basis for competition. Major players include Restek Corporation, Mallinckrodt Pharmaceuticals, GFS Chemicals Inc, LGC Group and Merck KGaA. They use various strategies such as mergers and acquisition, collaboration and strategic partnership and new product development and launches to fortify their consumer base and plan for market expansion and growth. 'Merck KGaA ', 'Agilent Technologies, Inc. ', 'Thermo Fisher Scientific Inc. ', 'PerkinElmer, Inc. ', 'Waters Corporation ', 'Restek Corporation ', 'LGC Standards ', 'Spex CertiPrep ', 'AccuStandard, Inc. ', 'Cayman Chemical Company ', 'Sigma-Aldrich Corporation ', 'Chiron AS ', 'GFS Chemicals, Inc. ', 'High-Purity Standards ', 'Inorganic Ventures, Inc. ', 'Mallinckrodt Pharmaceuticals ', 'NSI Lab Solutions ', 'Absolute Standards, Inc. ', 'RTC, Inc. ', 'Analytical Standards & Chemicals Pvt. Ltd. '

The significant factors driving growth of the analytical standards market include the expanding applications of analytical standards in proteomics and metabolomics as well as the rising global importance of pollution control monitoring. Additionally, encouraging government initiatives, growing public concerns about the best possible food safety and quality, increased emphasis on healthcare quality, and a growing need to check the patent expiration of patented products all contribute to the overall market growth. It is also anticipated that the increased regulatory emphasis on efficient pollution monitoring and control will accelerate market expansion overall during the forecast period.

Adoption of Analytical Standards in Manufacturing Industry: Manufacturers and distributors of clinical microbiology products should experience significant growth opportunities over the course of the forecast period as a result of emerging markets. The rising incidence of infectious diseases like HIV, tuberculosis, influenza, and malaria as well as increased R&D efforts to create cutting-edge genomic techniques for effective disease diagnosis in developing countries can be credited for this.

North America accounted for a largest market share owing to presence of a large number of key players, higher affordability, and supportive government initiatives to create novel drugs. An increasing prevalence of communicable diseases results in the need to produce high-quality medicines and other goods with improved safety measures in a shorter amount of time. As a result, the need for analytical standards for novel molecules in development increases.

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Global Analytical Standards Market

Report ID: SQMIG20Q2007

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