Global Analytical Standards Market By Sources Analysis, Share, Trends, Size, Forecast From 2024-2032

Analytical Standards Market Size and Forecast

Analytical Standards Market size was valued at USD 1.66 Billion in 2024 and is projected to reach USD 2.85 Billion by 2031, growing at a CAGR of 7.70% from 2024 to 2031.

• Analytical standards are well-defined chemical compounds with known purity and concentration that are used to calibrate analytical instruments and validate test methodologies. They are used as a reference to compare samples, ensuring the accuracy and precision of analytical results.
• Analytical standards are widely utilized in a variety of industries, including pharmaceuticals, food and beverage, petrochemicals, environmental testing, and forensics, to ensure quality control, regulatory compliance, and research and development. Raw material testing, stability testing, dissolution testing, bioanalytical testing, and proficiency testing are among the most important uses.

Global Analytical Standards Market Dynamics

The key market dynamics that are shaping the analytical standards market include:

Key Market Drivers

• Increasing Food Safety Concerns and Regulations: Growing concerns about food safety and the adoption of severe laws are driving up demand for analytical standards in food testing. According to the World Health Organization (WHO), over 600 million people become unwell each year after eating tainted food, with 420,000 dying as a result. In response, many countries have tightened food safety rules. For example, the EU’s Official Controls Regulation (EU) 2017/625, which took effect in December 2019, has increased the demand for dependable analytical standards in food testing.
• Rising Pharmaceutical and Biotechnology R&D Activities: The increase in pharmaceutical and biotechnology research and development is driving up the demand for analytical standards. According to Deloitte’s 2021 Global Life Sciences Outlook, global pharmaceutical R&D investment is predicted to increase at a 3% compound annual growth rate (CAGR) between 2019 and 2026, reaching USD 233 Billion by 2026. This surge in R&D activity necessitates the adoption of high-quality analytical standards in medication development and quality control operations.
• Environmental Monitoring and Regulations: Stringent environmental rules and a greater emphasis on environmental monitoring are boosting the analytical standards market. According to the United Nations Environment Programme (UNEP), more than 80 nations have adopted ambient air quality guidelines by 2021. This growth is largely due to rising environmental concerns and legislation around the world.

Key Challenges:

• High Capital Investment for Analytical Instruments: The analytical standards market is severely constrained due to the large capital investment required for analytical instruments. Equipment costs between $15,000 and $25,000, depending on the intricacy and other accessories required for sample preparation. Also, keeping these instruments incurs continuing fees, such as service contracts, which cost an additional 10% to 15% of the purchase price each year. This financial burden discourages smaller enterprises from investing in essential analytical standards, impeding market expansion.
• Lack of Skilled Labor: The lack of competent laboratory personnel is a significant barrier to the market for analytical standards. The complexity of analytical methodologies necessitates specialized training and experience, which are sometimes in limited supply. This shortfall resulted in testing delays, reduced productivity, and probable mistakes in results, all of which had an impact on the quality of analytical standards. The inability to fully staff laboratories impedes the market’s overall growth and reliability as demand for accurate testing grows.

Key Trends:

• Growing Demand in Pharmaceuticals: The pharmaceutical industry is experiencing a tremendous growth in demand for analytical standards, driven by the increasing complexity of medicinal compounds and severe regulatory requirements. As corporations focus on drug research and quality control, precise analytical testing becomes increasingly important.
• Expansion of Chromatography Techniques: The chromatography segment is expected to increase significantly due to its efficacy in detecting and separating contaminants in various samples. Chromatography techniques, such as liquid and gas chromatography, are becoming more popular due to their ability to produce fast and reliable findings. The introduction of innovative equipment and reagents by important players is feeding this trend, making chromatography the favored method for analytical testing in a variety of industries.
• Focus on Environmental Testing: The rising emphasis on environmental monitoring is generating demand for organic analytical standards to assess pollutants in air, soil, and water. As regulatory organizations enforce stronger criteria for environmental safety, industries must implement analytical standards to ensure compliance. This trend is projected to continue, driving market expansion as businesses prioritize environmental preservation and sustainability in their operations.

Global Analytical Standards Market Regional Analysis

Here is a more detailed regional analysis of the analytical standards market:

North America:

• According to Market Research, North America is estimated to dominate the analytical standards market over the forecast period. North America, especially the United States, has a stringent regulatory structure that fuels demand for analytical standards. In fiscal year 2020, the US Food Drug Administration (FDA) conducted over 13,000 inspections of food establishments and more than 1,600 inspections of drug manufacturing plants. In addition, the FDA issued more than 15,000 warning letters and took additional food and drug safety enforcement measures. This high degree of regulatory action necessitates the adoption of trustworthy analytical standards for compliance and quality assurance.
• Furthermore, North America has a sizable and expanding pharmaceutical and biotechnology sector, which is a key user of analytical standards. According to the Pharmaceutical Research and Manufacturers of America (PhRMA), biopharmaceutical businesses in the United States alone spent USD 91 Billion on research and development in 2020. Furthermore, as of 2021, there were over 8,000 pharmaceuticals in clinical development worldwide, with a large proportion of these trials taking place in North America. This substantial R&D effort creates a demand for high-quality analytical standards in medication development and testing.

Europe:

• Europe region is estimated to exhibit substantial growth during the forecast period. Europe has some of the world’s most strict food safety legislation, which drives up demand for analytical standards in food testing. According to the European Food Safety Authority (EFSA), in 2019, EU member states reported 5,175 food safety outbreaks that affected 49,463 persons. To combat this, the EU has enacted rigorous food safety regulations. For example, Regulation (EC) No 1881/2006 establishes limit amounts for specific pollutants in foods, necessitating exact analytical standards for testing.
• Furthermore, Europe’s significant emphasis on environmental protection and monitoring is driving up the demand for analytical standards. According to the European Environment Agency (EEA), ambient air pollution caused around 4.2 million premature deaths around the world in 2018. In response, the EU established aggressive targets under the European Green Deal, intending to reduce net greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels. This project has resulted in greater environmental testing throughout the region.

Asia Pacific:

• The Asia Pacific region is estimated to exhibit the highest growth within the market during the forecast period. The Asia Pacific region confronts significant environmental issues, necessitating more environmental monitoring and a growing demand for analytical standards. According to the World Health Organization (WHO), 9 out of every 10 persons in the Asia Pacific region are exposed to air pollution levels that represent a serious health risk. In response, countries are enacting more stringent environmental rules. For example, India’s National Clean Air Programme targets to reduce particulate matter concentrations by 20-30% by 2024 compared to 2017. Such activities are increasing the demand for precise environmental testing and analytical standards.
• Furthermore, Food safety is an increasing concern in the Asia Pacific area, resulting in stronger regulations and a greater demand for analytical standards in food testing. According to the Food and Agriculture Organization (FAO), foodborne infections impact 150 million people in Southeast Asia and cause 175,000 deaths each year. In response, countries are enacting stricter food safety regulations. For example, China’s new Food Safety Law, which went into force in 2015, has greatly raised the demand for food testing and, by extension, analytical standards.

Global Analytical Standards Market: Segmentation Analysis

The Analytical Standards Market is segmented based on Type, Methodology, Technique, Application, and Geography.

Analytical Standards Market, By Type

• Organic Analytical Standards
• In-organic Analytical Standards

Based on Type, the market is segmented into Organic Analytical Standards and In-organic Analytical Standards. The organic analytical standards segment is estimated to dominate the analytical standards market due mostly to their widespread use in the pharmaceutical and life sciences industries, where they are critical for drug development and quality control. The increasing complexity of medication formulations, combined with tight regulatory requirements, necessitates the employment of organic standards to ensure test accuracy and dependability. As a result, this category is projected to continue to dominate the market as demand for precision analytical testing develops across many industries.

Analytical Standards Market, By Methodology

• Bioanalytical Testing
• Stability Testing
• Raw Material Testing
• Dissolution Testing
• Others

Based on the Methodology, the market is segmented into Bioanalytical Testing, Stability Testing, Raw Material Testing, Dissolution Testing, and Others. The raw material testing segment is estimated to dominate the analytical standards market during the forecast period due to increased manufacturing activity in the pharmaceutical, petrochemical, and food and beverage industries, where raw material quality and safety are critical. Regulatory organizations put strict rules on these industries, demanding stringent testing procedures. As a result, the need for analytical standards in raw material testing is increasing, indicating their vital role in ensuring product integrity and compliance with safety laws.

Analytical Standards Market, By Technique

• Spectroscopy
• Chromatography
• Titrimetry
• Physical Property Testing

Based on Technique, the market is segmented into Spectroscopy, Chromatography, Titrimetry, and Physical Property Testing. The chromatography segment is estimated to dominate the analytical standards market. This dominance is fueled by the growing need for precise and efficient separation procedures in pharmaceutical and biopharmaceutical research and development. Chromatography’s ability to identify and quantify contaminants makes it indispensable for quality control in medication manufacture, boosting its growth and strengthening its position as the leading technique in the market.

Analytical Standards Market, By Application

• Pharmaceutical and Life Science Analysis
• Environmental Analysis
• Food and Beverage Analysis
• Forensic Standards
• Petrochemical Analysis
• Veterinary Drug Analysis
• Others

Based on Application, the market is segmented into Pharmaceutical & Life Science Analysis, Environmental Analysis, Food & Beverage Analysis, Forensic Standards, Petrochemical Analysis, Veterinary Drug Analysis, and Others. The pharmaceutical & life science analysis segment is estimated to dominate the analytical standards market. This dominance is fueled by the growing burden of chronic diseases, increased drug research efforts, and rising demand for faster and more reliable outcomes to ensure product safety and quality. As pharmaceutical businesses focus on medication research and quality control, the demand for precision analytical testing grows, propelling the segment forward.

Analytical Standards Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

Based on Geography, the Analytical Standards Market is classified into North America, Europe, Asia Pacific, and the Rest of the World. According to the analyst, North America is estimated to dominate during the forecasted period. This supremacy is due to the region’s superior healthcare infrastructure, major investment in R&D, and tight regulatory frameworks that require the adoption of high-quality analytical standards. The presence of important market participants, as well as a high adoption rate of breakthrough analytical technologies, help to solidify North America’s position in the market.

Key Players

The “Analytical Standards Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Agilent Technologies, Thermo Fisher Scientific, Merck KGaA, Sigma-Aldrich, PerkinElmer, Shimadzu Corporation, Waters Corporation, Honeywell International, Promochem, Supelco, MilliporeSigma, Avantor Performance Materials, LGC Standards, Restek Corporation, SPEX CertiPrep, American Proficiency Testing Services, and High-Purity Standards.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Analytical Standards Market Recent Developments

• In June 2023, Agilent Technologies, Inc. introduced two advanced liquid chromatography mass spectrometry systems: the Agilent 6495D LC/TQ and the Agilent Revident LC/Q-TOF. Agilent has upgraded the Revident LC/Q-TOF with new software, including MassHunter Explorer Profiling and ChemVista library manager.
• In March 2023, LGC acquired Lipomed AG’s reference materials business, which includes standards for drug misuse and toxicology applications. The acquisition expands LGC’s reference standards portfolio, allowing customers a wider range of options.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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