Press release
Analytical Standards Market 2023-2032: New Technology, Global Trends, Industry Statistics And Major Players | Merck KGaA, Agilent Technologies, Waters Corporation, LGC Standards, PerkinElmer Inc
The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032The Business Research Company's Analytical Standards Global Market Report 2023 identifies high capital investment as the major driver for the Analytical Standards Market's growth in the forecast period. 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 from $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.
The global analytical standards market size grew from $1.47 billion in 2022 to $1.57 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The analytical standards market size is expected to grow to $1.97 billion in 2027 at a CAGR of 6.0%.
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Major competitors 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.
A key trend in the Analytical Standards Market includes technological advancement. 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.
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The Analytical Standards Market is segmented -
By Type: Organic Standards, Inorganic Standards
By Technique: Chromatography, Spectroscopy, Titrimetry, Physical Property Testing
By Methodology: Bioanalytical Testing, Stability Testing, Raw material Testing, Dissolution Testing, Other Methodologies
By Application: Microbiology Testing, Physical Properties Testing, Toxicity Testing, Contamination Testing, QA/QC Testing, Proficiency Testing, Stability Testing, Other Applications
By End User: Food And Beverages Standards, Forensic Standards, Veterinary Drug Standards, Petrochemistry Standards, Environmental, Pharmaceutical And Life Science Standards
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Analytical Standards Market.
The Business Research Company's "Global Analytical Standards Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Analytical Standards Market Include:
1. Executive Summary
2. Analytical Standards Market Characteristics
3. Analytical Standards Market Trends And Strategies
4. Analytical Standards Market - Macro Economic Scenario
5. Analytical Standards Market Size And Growth
……
26. Africa Analytical Standards Market
27. Analytical Standards Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Analytical Standards Market
29. Analytical Standards Market Future Outlook and Potential Analysis
30. Appendix
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