Analytical Standards Global Market Report 2022

Analytical Standards Global Market Report 2022

  • May 2022 •
  • 175 pages •
  • Report ID: 6281569 •
  • Format: PDF
Major players in the analytical standards market are Merck KGaA, Agilent Technologies, Waters Corporation, LGC Standards, PerkinElmer Inc, Restek Corporation, SPEX CertiPrep, AccuStandard Inc., Thermo Fisher Scientific Inc, and Mallinckrodt.

The global analytical standards market is expected to grow from $1,392.61 million in 2021 to $1,465.98 million in 2022 at a compound annual growth rate (CAGR) of 5.3%. The market is expected to grow to $1,794.29 million in 2026 at a CAGR of 5.2%.

The analytical standards market consists of sales of analytical standards and related products by entities (organizations, sole traders, and partnerships) that manufacture analytical instruments.An analytical standard is a high-grade compound and a defined concentration to be used as a calibration standard for a specified experiment.

Analytical standards are introduced in all fields such as veterinary, life sciences, food, and beverage, forensics, environmental and pharmaceutical industries.

The main types of analytical standards are organic standards and inorganic standards.Chromatography is defined as a biophysical technique, which enables the identification, purification, and separation of components in a mixture for quantitative and qualitative analysis.

Chromatography is used for complex mixtures of amino acids, carbohydrates, peptides, purines, steroids, and various simple organic compounds.The major techniques of analytical standards include chromatography, spectroscopy, titrimetry, and physical property testing.

The various methodologies of analytical standards are bioanalytical testing, stability testing, raw material testing, dissolution testing, and other methodologies.The main applications of analytical standards are microbiology testing, physical properties testing, toxicity testing, contamination testing, QA/QC testing, proficiency testing, stability testing, and other applications.

The major end-users of analytical standards include food and beverages standards, forensic standards, veterinary drug standards, petrochemistry standards, environmental, pharmaceutical, and life science standards.

North America was the largest region in the analytical standards market in 2021. The regions covered in the analytical standards report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The rising public concerns related to optimal food safety and quality are predicted to boost the growth of the analytical standards market over the coming years.Consumption of contaminated and adulterated food comprising chemical compounds, dangerous bacteria, parasites, and viruses produces more than 200 diseases ranging from diarrhea to cancer.

Analytical techniques such as mass spectrometry and chromatography are widely employed by food testing laboratories to scan for spoilage and guarantee food safety.For instance, according to the World Health Organization’s report published in 2020, it is projected that 600 million (nearly 1 in 10 people) fall ill in the nation after consuming adulterated food and 420 000 die each year, resulting in the loss of 33 million healthy years of life.

Diarrheal illnesses are the most prevalent diseases caused by the ingestion of infected food, leading 550 million individuals to fall sick and 230 000 losses per year. Therefore, the rising public concerns related to optimal food safety and quality drive the growth of the analytical standards market.

The high capital investment required for the analytical instruments is expected to hamper the growth of the analytical standards market in the coming years.Analytical instruments are a broad variety of tools employed for analytical purposes in clinical, oil refineries, pharmaceutical, chemical, and food processing laboratories.

The cost of the instrument is generally perceived to be an investment in a new method.The cost of the analytical instrument ranges between $17,000 to $25,000.

The maintenance cost further includes a service contract cost of $2,000, which is usually 10%-15% of the purchase cost of the equipment every year. Therefore, the huge capital investment required for the analytical instruments restraints the growth of the analytical standards market.

Technological advancement is a key trend gaining popularity in the analytical standards market.Major companies operating in the analytical standards sector are focusing on developing new technological solutions for analytical standards.

For example, in September 2020, Waters Corp, a US-based analytical laboratory instrument manufacturing company declared the formation of the new Waters Analytical Laboratory Immerse Cambridge.Immerse Cambridge’s open technology concept comprises the latest analytical, informatics, and automation resources that span a broad spectrum of domains across the life, food, and materials sciences.

It is also tailored for disseminating and spreading concepts through training, collaborative study, and mentoring experience for students and emerging business experts.

In December 2019, LGC Ltd, a UK-based company that provides laboratory services, measurement standards, reference materials, and proficiency testing marketplaces, acquired Toronto Research Chemicals Inc for an undisclosed amount.The acquisition of Toronto Research Chemicals Inc complements LGC’s existing reference standards business, which includes the Mikromol and Dr.

Ehrenstorfer’s product portfolios, and provides commercial and operational opportunities to develop the combined product and service offering to customers globally. Toronto Research Chemicals Inc is a Canada-based company that manufactures and supplies researchers in the biomedical fields with specialized complex organic small molecules not otherwise commercially available.

The countries covered in the analytical standards market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.