Analytical Standards Market Segments 2024-2033 | Size, Share And Insights

"The Business Research Company recently released a comprehensive report on the Global Analytical Standards Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The analytical standards market size has grown strongly in recent years. It will grow from $1.57 billion in 2023 to $1.69 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to emerging markets growth, the stringent regulatory scenario in the pharmaceutical industry, the increasing strict quality regulations for drug manufacturers, the expansion of pharmaceutical and biotechnology industries worldwide and the increased adoption of analytical techniques in pesticide monitoring.

The analytical standards market size is expected to see strong growth in the next few years. It will grow to $2.21 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to the government support, the improving healthcare infrastructure/expenditure, the rising public concerns related to optimal food safety and quality, the greater regulatory emphasis on effective pollution monitoring and control and patent expiry for major pharmaceutical drugs. Major trends in the forecast period include the government support, the improving healthcare infrastructure/expenditure, the rising public concerns related to optimal food safety and quality, the greater regulatory emphasis on effective pollution monitoring and control and patent expiry for major pharmaceutical drugs.

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Market Drivers and Trends:

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, in May 2022, according to the World Health Organization, a Switzerland-based Intergovernmental organization, every year 420000 people die and 600 million people fall unwell from eating contaminated food, accounting for about one in ten deaths worldwide and 33 million DALYs (disease-avoidable life years). Therefore, the rising public concerns related to optimal food safety and quality drive the growth of the analytical standards market.

Analytical Standards manufacturers are developing endotoxin testing solutions for the testing of raw materials, in-process samples, and manufactured parental products. Bacterial endotoxin testing (BET) is a critical component of safety in the pharmaceutical and biomedical industries. If bacterial endotoxins reach high enough concentrations in a patient's bloodstream, they can induce severe symptoms including fever and septic shock, and in the most severe cases, they can be fatal. As a result, before being released to the market, every pharmaceutical product that will enter the body, including parenteral medicines and injectable devices, must be tested for the presence of endotoxins. These quality control (QC) tests also adhere to regulatory criteria imposed by the European and American Pharmacopoeias, as well as the US Food and Drug Administration (FDA). For instance, in 2021, Lonza Group Ag, a Switzerland-based chemicals and biotechnology company, expanded its PyroTec PRO Automated Robotic Solution for Endotoxin testing. The new PyroWave Reader add-on has been specifically created for use with the long-lasting PyroGene Recombinant Factor C (rFC) Assay. This third test type option allows QC microbiologists to select the endotoxin test method that best meets their testing requirements.

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Major Key Players of the Market:

Safran S.A., Raytheon Technologies Corporation, Heroux-Devtek Inc, Melrose Industries plc, Parker Hannifin Corporation, Triumph Group Inc., Liebherr-International AG, Sumitomo Precision Products Co. Ltd., AAR Corp., Eaton Corporation, Aircraft Landing Gear Co. Ltd, AMETEK Instruments Pvt Ltd, SPP Nagasaki Engineering Co. Ltd, Kawasaki Aerospace Company, AVIC Aircraft Landing Gear Co. Ltd, Commercial Aircraft Corporation of China Ltd, Meggitt PLC, Airbus S.A.S, ZF Luftfahrttechnik, ThyssenKrupp AG, United Aircraft Corporation, IRKUT Corporation, PZL Warszawa, Sukhoi, KF Aerospace, Circor International Inc., Collins Aerospace, Magellan Aerospace Corporation, Boeing Co.

Analytical Standards Market 2024 Key Insights:

• The analytical standards market size is expected to see strong growth in the next few years. It will grow to $2.21 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
• Growing Concerns For Food Safety Propel Analytical Standards Market Growth
• Advancements In Endotoxin Testing Solutions Strengthen Analytical Standards In Pharmaceuticals
• North America was the largest region in the analytical standards market in 2023

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