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An analytical standard is a compound of high purity and known concentration to be used as a calibration standard for a given assay. As the regulatory requirements are constantly becoming stricter which is increasing the pressure on product documentation and quality control for all the industries. Analytical standards finds application in various verticals including food and beverage, forensics, veterinary, environmental and pharma, and life sciences. The analytical standards employs in measuring the purity and quality of the formulations, drugs, biomarkers to increase the precision of an analytical procedure and to calibrate various analytical equipment. There are stringent regulations in the pharmaceutical sector all across the globe by WHO as well as several government regulations by every country or region across the globe is one of the reasons for the growth of the analytical standard market.
increase in industrialization, along with financial support extended by central agencies for pollution prevention and control, has been increasing environmental consciousness among industrialists will bring in a potential growth and development in the global analytical standard market. Also, the increasing demand of testing to maintain the optimum quality standards in food industry and rising awareness of locals towards the safety measures is also adding up in the major growth of the analytical standards market. For instance, In India, the Food Safety and Standards Authority of India (FSSAI) plans to invest about USD 72.3 million to support the food testing infrastructure across the country as the food industry in India was roughly 32% of the country’s total food market in 2017. However, The COVID-19 pandemic has significantly impacted the analytical standards market. The analytical instrumentation sector is facing challenges in the manufacturing and supply chain, such as delivering products to end users promptly and attending to an uneven demand for the products and services in this sector.
The COVID-19 pandemic has significantly affected the analytical standards market. The market for analytical standards market is anticipated to be marginally affected due to the outbreak of COVID-19.The analytical instrumentation sector is facing challenges in the manufacturing and supply chain, such as delivering products to end-users promptly and attending to an uneven demand for the products and services in this sector. The pandemic has also impacted the operation of manufacturing companies. Moreover, manufacturing plants in a number of countries have been shut down to contain the spread of the virus. According to WHO data, there were 62.3 million confirmed COVID-19 cases and 1.4 million deaths globally, as of November 30, 2020. Due to the COVID-19 outbreak, the number of patient data globally has increased. With the COVID-19 pandemic, most countries, including the whole of Europe, the US, India, and Australia, among others, are following complete nationwide lockdowns. Companies are functioning with a limited workforce. Moreover, the turnaround time for the delivery of products and services is affected due to newer packaging protocols and lockdown measures imposed by countries. All these factors are negatively impacting the manufacturing and supply chain of analytical standards products
Global analytical standards market is analysed based on product, technique, methodology, category and geography.
The analytical standard products includes food & beverages standards, forensic standards, veterinary drug standards, petrochemistry standards, environmental and pharmaceutical and life science standards. Food and beverage analytical standards market includes flavor & fragrance standards, carbohydrate standards, peptide/amino acid standards, food additive standards, fatty acid/lipid/fame standards, GMO (genetically modified organisms) standards and mycotoxin standards. Forensic standards includes drugs of abuse standards and doping standards. Various environmental analytical standards consists of pesticide standards, volatiles/semivolatiles standards, flame retardant standards, aroclor/pcb, and dioxin standards, alkyl phenol standards and solid waste standard. Pharmaceutical and life sciences standards covers cosmetic standards, herbal drug/phytopharmaceutical standards, pharmaceutical secondary standards, pharmaceutical impurity reference standards, pharmacopoeia standards and fluorescent microparticle standards. While the purview of this technique also holds prominence in analysing flavors and fragrances, GMO, Mycotoxins, and food additives, to ensure food safety. In the pharmaceutical industry, this technique is used to meet ideal drug and cosmetic standards.
Chromatography, spectroscopy, titrimetry and physical property testing are the techniques of analytical standards covered in this market study. Commercial laboratories are increasingly under pressure to get new drugs to market faster and an increasing trend has been to bring sample and reaction analysis closer to the user. This has posed a challenge for traditional analytical methods which has led to development of novel technique. Chromatography dominated analytical standards, observing gains at 6.31% from 2021 to 2027. Chromatographic techniques like gas chromatography has key advantages such as high sensitivity and relatively cheap operating cost which has made it appealing to many industries needed to detect and measure compounds and molecules within a sample
The global analytical standards by methodology is classified into bioanalytical testing, dissolution testing, raw material testing, stability testing and other methodologies etc. The global analytical standards market offers rising public concerns related to optimal food safety and quality, growing applications of analytical techniques in proteomics & metabolomics, and greater regulatory emphasis on effective pollution monitoring & control are some of the key factors driving the growth of the analytical standards market.
Analytical standards are accessible as organic and inorganic analytical standards. The market is dominated by organic analytical standards. Increasing demand for refrigerants and HVAC systems, booming pharmaceutical industry, growing prevalence of infectious diseases, growing construction industry, increasing car sales are the factors responsible for the exponential growth of the segment. On the other hand, inorganic analytical standards market growth is driven by a wide range of applications in chemical, pharmaceutical, petroleum, packaging, cosmetics industries.
In terms of region, the analytical standard market is studied for the key regions including North America, Europe, Asia Pacific, and Rest of the World. North America emerged as a dominant region for the industry and accounted for 40.06% of the market revenue share in 2020. An enforcement of stringent regulatory norms in the region is projected to lead to a large market size in the region. Also, presence of a high volume of key players with higher affordability and favourable government initiatives to develop innovative drugs will drive the growth of the market i this region, Even though North America segment has the highest market share Asia Pacific regional segment of the analytical standard market is expected to grow at the highest CAGR over the forecast period.
The key competitors of this market include Agilent Technologies (U.S), Accustandard Inc. (U.S.), Thermo Fisher (U.S.), Cambridge Isotope Laboratories, Inc. (CIL) (U.S.), Cayman Chemical Company (U.S.), Chiron AS (Norway), CPI International (U.S.), Cresent Chemicals (U.S.), GFS Chemicals (U.S.), Water Corporation (U.S.) , Merck KGAA (Germany) , Rica Chemicals Company (Japan), Restek Inc. (Germany), Reagecon Diagnostics Ltd (Ireland), PerkinElmer (U.S.), LGC Standards (UK) , SPEX CertiPrep (U.S.), Mallinckrodt Pharmaceuticals (UK), and Inorganic ventures (U.S.) among others.
May 2018: Agilent Technologies, Inc. entered into a definitive agreement to acquire all the business assets of Ultra Scientific, a leading provider of chemical standards and certified reference materials. The acquisition leads to significant expansion of Agilent’s certified reference materials and chemical standards business.
August 2019: LGC acquired Toronto Research Chemicals, a manufacturer and supplier of synthetic organic bio-chemicals that are used as reference standards and research tools in the pharmaceutical, applied, and research sectors. The acquisition of TRC has strengthened the product portfolio of LGC’s existing reference standards business.
Global Analytical Standards market is segmented based on Technique, Product, Methodology, Category and Geography. By Technique, the market is segmented into Chromatography, Spectroscopy, Titrimetry and Physical Property Testing. Based on Product, the market is classified into Food & Beverages Standards, Forensic Standards, Veterinary Drug Standards, Petrochemistry Standards, Environmental and Pharmaceutical and Life Science Standards. By Methodology, the market is segmented into Bioanalytical Testing, Dissolution Testing, Raw material Testing, Stability Testing and Other Methodologies. Based on Category, the market is classified into Organic Analytical Standards and Inorganic Analytical Standards. The Global Analytical Standards Market is studied across various key countries of regions such as, North America, Europe, Asia Pacific and Rest of the World.
The key competitors of this market include Agilent Technologies (U.S), Accustandard Inc. (U.S.), Thermo Fisher (U.S.), Cambridge Isotope Laboratories, Inc. (CIL) (U.S.), Cayman Chemical Company (U.S.), Chiron AS (Norway), CPI International (U.S.), Cresent Chemicals (U.S.), GFS Chemicals (U.S.), Water Corporation (U.S.) , Merck KGAA (Germany) , Rica Chemicals Company (Japan), Restek Inc. (Germany), Reagecon Diagnostics Ltd (Ireland), PerkinElmer (U.S.), LGC Standards (UK) , SPEX CertiPrep (U.S.), Mallinckrodt Pharmaceuticals (UK), and Inorganic ventures (U.S.) among others.
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