(PharmaNewsWire.Com, August 13, 2021 ) The global analytical standards market size is estimated to be USD 1.3 billion in 2020 and projected to reach USD 1.7 billion by 2025, at a CAGR of 6.3%. The rising public concerns related to optimal food safety & quality and growing applications of analytical techniques in proteomics & metabolomics are the key factors driving the growth of the analytical standards industry. COVID-19 has impacted their businesses as well. Additionally, expected patent expiry of major drugs and biomolecules and development of new analytical methods affect the growth of analytical standards market. However, limited public awareness related to effective pollution monitoring strategies across developing countries is hampering the growth of this market
The analytical standards market includes major Tier I and II suppliers like Merck KGaA (Germany), Agilent Technologies (US), Waters Corporation (US), LGC Standards (UK), and PerkinElmer, Inc. (US). Other major market players in the analytical standards market include Restek Corporation (US), SPEX CertiPrep (US), AccuStandard, Inc. (US), Thermo Fisher Scientific, Inc. (US), Mallinckrodt (UK), US Pharmacopeial Convention (US), Cayman Chemical Company (US), RICCA Chemical Company (US), GFS Chemicals, Inc. (US), and Chiron AS (Norway), among others. These suppliers have their manufacturing facilities spread across regions such as North America and Europe. COVID-19 has impacted their businesses as well. Demand for analytical standards from key end-users has declined a bit amidst the global COVID-19 pandemic. Industry experts believe that COVID-19 will have a short-term decline in the growth for the analytical standards market in 2020 but will experience normal development as the market gradually steadies by the end of 2020.
The recent COVID-19 global pandemic has also impacted the analytical standards market. Demand from the main end-users has declined as key regions, and countries have imposed social distancing rules and lockdowns. This impact is expected to be short-term, and no adverse effects are to be foreseen after the market gradually reopens.
Browse 225 market data tables and 30 figures spread through 252 pages and in-depth TOC on “Analytical standards market - Global Forecast To 2025."
Increasing importance of chromatography tests in drug approvals result in the segment occupying a high share of the analytical standards market
The chromatography technique segment owns a good market share In the analytical standards market. The large share of this segment is attributed to factors such as increasing usage of chromatography in the pharmaceutical analysis (especially HPLC) and the presence of a large number of matured and emerging suppliers that provide a broad range of chromatographic standards across the globe.
Pharmaceutical & life sciences analytical standards estimated to be the growing market
The pharmaceutical & life sciences analytical standards market is expected to witness sustained demand during the forecast period, owing to the increasing drug development in developed countries, increasing use of certified reference materials (CRMs) to ensure the quality of pharmaceuticals, increasing awareness, regulations on cosmetic products, and the rising popularity of traditional medicines. However, the high cost of pharma & life science analytical standards is expected to affect the sales of these analytical standards overall.
Asia Pacific likely to emerge as the fastest-growing analytical standards market, globally
Geographically, the emerging Asian countries, such as China, India, South Korea, Taiwan, and Singapore, are offering high-growth opportunities for market players. The Asia Pacific analytical standards market is projected to grow at the highest CAGR from 2020 to 2025. strategic expansions of analytical instrument market players in the region, increasing focus on soil testing, food security concerns in India, an increasing number of bio clusters, high use of analytical technologies in Japan, and the growing biotechnology, biomedical, and pharmaceutical industries in China are driving the growth of the APAC analytical standards market.
Prominent players in this market include 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).
Study Coverage
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the analytical standards industry. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; new product launches; acquisitions; and partnerships, agreements, and collaborations; and recent developments associated with the analytical standards market.
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