The global analytical standards market is projected to reach USD 1.53 billion in 2024 to USD 2.16 billion by 2030, at a CAGR of 5.9% during the forecast period. The growing applications of analytical techniques in proteomics & metabolomics is one of the major factors anticipated to boost market growth in the forecasting years. Additionally, rising regulatory emphasis in pharmaceutical industry affects the growth of the analytical standards market.
Scope of the Report
Years Considered for the Study
2022-2030
Base Year
2023
Forecast Period
2024-2030
Units Considered
Value (USD billion)
Segments
Technique, Application, Category, Methodology and Region
Regions covered
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
"The contact-based analytical standards segment to hold the largest share of the market in 2024."
Based on category, analytical standards is segmented into organic standards and inorganic standards. The organic standards segment is expected to dominate the analytical standards market during the forecast period. With the rising number of clinical trials, the increasing focus on drug discovery & development, strict regulatory emphasis on effective pollution monitoring & control, and increasing public-private investments for R&D activities leads to the growth of this market segment.
"The external beam analytical standards procedures segment to hold the largest share of the market in 2024."
Based on technique, the analytical standards market is segmented into chromatography, spectroscopy, titrimetry, and physical properties testing. The analytical standards market is expected to be dominated by spectroscopy segment during the forecast period. The spectroscopy segment is further segmented into atomic absorption spectroscopy, mass spectroscopy, IR spectroscopy, nuclear magnetic resonance spectroscopy, UV/Vis spectroscopy and X-ray fluorescence/diffraction spectroscopy. The spectroscopy are expected to grow due to the widespread use of spectroscopic techniques across a broad range of application areas such as forensic, biotech, and material science and rising technological advancements for the improvement of sensitivity and resolution.
"The raw material testing segment to hold the largest share of the market in 2024."
The methodology market is segmented into raw material testing, bioanalytical testing, stability testing, dissolution testing, and other methodologies. Raw material testing accounted for the largest share of the global analytical standards market during the forecasted years. This can be attributed to the rising disease prevalence and the increase in commercialization of parenteral drugs.
"The market in the APAC region is expected to register highest growth rate for analytical standards in 2024."
The analytical standards market covers five key geographies-North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2023, a significant market share for analytical standards was held by the market in the North American region, comprising the US and Canada. On the other hand, the Asia Pacific market is estimated to register the highest growth rate during the forecast period. The increasing market penetration opportunities in emerging APAC countries led to the growth of the analytical standards market in this region.
A breakdown of the primary participants referred to for this report is provided below:
By Company Type: Tier 1- 49%, Tier 2- 31%, and Tier 3- 20%
By Designation: Directors- 19%, C-level- 28%, and Others- 53%
By Region: North America- 31%, Europe- 33%, Asia Pacific- 19%, Latin America- 10%, MEA- 7%
The prominent players in the Analytical standards market are Merck KGaA (Germany), Agilent Technologies, Inc. (US), Waters Corporation (US), LGC Limited (UK), PerkinElmer (US), Restek Corporation (US), SPEX CertiPrep (US), AccuStandard (US), Thermo Fisher Scientific, Inc. (US), Mallinckrodt (UK), The United States Pharmacopeial Convention (US), Cayman Chemical (US), RICCA Chemical Company (US) and GFS Chemicals, Inc. (US), among others.
Research Coverage
This report studies the analytical standards market based on technique, application, category, methodology, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their market presence.
This report provides insights on the following pointers:
Analysis of key drivers (Stringent regulatory guidelines in pharmaceutical industry, Rising public concerns regarding food safety & quality, Increasing public-private investments in research, Growing applications of analytical techniques in proteomics & metabolomics, Rising regulatory emphasis on pollution control, Growth in pharmaceutical & biotechnology industries, Increasing adoption of analytical techniques in pesticide monitoring), restraints (Limited public awareness of pollution monitoring strategies in emerging economies, Stringent storage requirements for analytical standards), opportunities (Development of new drugs adhering to GMP regulations, Increasing number of clinical trials), and challenges (Inadequate standards for analytical techniques, Shortage of skilled laboratory technicians) influencing the growth of the analytical standards market
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the analytical standards market
Analytical Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and analytical developments in the analytical standards market
Market Development: Comprehensive information on lucrative emerging regions
Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the analytical standards market
Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and services of the leading market players.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
1.3.1 MARKETS COVERED
1.3.2 INCLUSIONS & EXCLUSIONS
1.3.3 REGIONS COVERED
1.3.4 YEARS CONSIDERED
1.3.5 CURRENCY CONSIDERED
1.4 MARKET STAKEHOLDERS
1.5 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 List of secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Objectives of primary research
2.2 MARKET ESTIMATION METHODOLOGY
2.2.1 REVENUE MAPPING-BASED MARKET ESTIMATION
2.2.1.1 Segmental revenue share analysis
2.2.2 USAGE-BASED MARKET ESTIMATION
2.2.3 TOP-DOWN APPROACH
2.2.4 VOLUME DATA ANALYSIS
2.2.5 PRIMARY RESEARCH VALIDATION
2.3 DATA TRIANGULATION
2.4 STUDY ASSUMPTIONS
2.5 RESEARCH LIMITATIONS
2.6 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ANALYTICAL STANDARDS MARKET OVERVIEW
4.2 EUROPE: ANALYTICAL STANDARDS MARKET, BY APPLICATION AND REGION (2023)