Press release
Analytical Standards Industry to Achieve $2.34 Billion Growth by 2029
Analytical Standards
How Will the Analytical Standards Market Grow by 2025 in Terms of Size and Growth?
In recent years, there has been a substantial increase in the market size of analytical standards. It is predicted to grow from $1.68 billion in 2024 to $1.77 billion in 2025, with a compound annual growth rate (CAGR) of 5.6%. The significant growth in the past can be credited to the rise of emerging markets, rigid regulatory conditions in the pharmaceutical sector, enhancements in strict quality rules for drug producers, the global expansion of pharmaceutical and biotechnology industries, and enhanced application of analytical techniques in pesticide monitoring.
What Are the Estimated Growth Rates for the Analytical Standards Industry Through 2029?
In the coming years, the market size for analytical standards is predicted to exhibit significant growth. Anticipated to touch $2.34 billion by 2029, it will grow at a compound annual growth rate (CAGR) of 7.3%. Factors fueling this growth during the forecast period include government support, enhanced healthcare infrastructure and spending, increasing public worry over optimal food safety and quality, heightened regulatory focus on effective pollution monitoring and control, and the expiry of patents for key pharmaceutical drugs. The same factors denote major trends during the forecast period as well, such as government backing, improving healthcare facilities and expenditure, growing public anxiety about supreme food safety and quality, stronger regulatory spotlight on efficient pollution tracking and regulation, and the termination of patents for significant pharmaceutical medications.
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What Are the Strategic Drivers Boosting Analytical Standards Market Performance?
Increasing concerns about premium food safety and quality are anticipated to spur the expansion of the analytical standards market in the near future. The ingestion of tainted and falsified food containing chemical substances, harmful bacteria, parasites, and viruses can lead to over 200 disorders, including diarrhoea and cancer. Analytical methods such as mass spectrometry and chromatography are extensively used by food testing laboratories to check for degradation and confirm food safety. For example, data from the World Health Organization in May 2022 shows that each year, 420,000 individuals perish and 600 million get sick from consuming polluted food, which represents roughly one-tenth of global deaths and 33 million DALYs (disease-preventable life years). As a result, burgeoning public worries regarding the highest possible food safety and quality are propelling the enhancement of the analytical standards market.
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What Are the Segments in the Analytical Standards Market?
The analytical standards market covered in this report is segmented -
1) By Type: Organic Standards, Inorganic Standards
2) By Technique: Chromatography, Spectroscopy, Titrimetry, Physical Property Testing
3) By Application: Bioanalytical Testing, Stability Testing, Raw Material Testing, Dissolution Testing, Microbiology Testing, Physical Properties Testing, Toxicity Testing, Contamination Testing, QA/QC Testing, Proficiency Testing, Other Applications.
4) By End User: Food And Beverages Standards, Forensic Standards, Veterinary Drug Standards, Petrochemistry Standards, Environmental, Pharmaceutical And Life Science Standards, Other End Users.
Subsegments:
1) By Organic Standards: Volatile Organic Compounds (VOCs), Pesticide Standards, Pharmaceutical Standards
2) By Inorganic Standards: Heavy Metal Standards, Mineral Standards, Ion Standards
What Are the Key Adoption Trends in the Analytical Standards Market?
Leading enterprises in the analytical standards market are concentrating on advancing endotoxin testing solutions like quick and sensitive monocyte activation tests (MAT) to improve the effectiveness, precision, and regulatory fulfilment of safety testing in pharmaceuticals and medical devices. The monocyte activation test (MAT) is a laboratory procedure intended to identify substances such as bacterial endotoxins by tracking the response of activated monocytes. For example, in June 2024, FUJIFILM Wako Chemicals (FUJIFILM Wako), an American manufacturer and supplier of chemical reagents, introduced two ground-breaking testing kits - the LumiMAT Pyrogen Detection Kit (an accurate in vitro assay for pyrogen testing using human NOMO-1 cells) and PYROSTAR Neo+(a recombinant protein reagent for identification of bacterial endotoxins that offers enhanced sensitivity and lesser drug disturbance. These newly launched products provide quicker and more reliable detection methods, offering a significant upgrade from traditional testing approaches.
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Which Companies Lead the Competitive Landscape of the Analytical Standards Industry?
Major companies operating in the analytical standards market include Merck KGaA, Agilent Technologies Inc, Thermo Fisher Scientific Inc, Waters Corporation, PerkinElmer Inc., Mallinckrodt, LGC Standards, Restek Corporation, GFS Chemicals Inc, RICCA Chemical Company, Spectro Analytical Labs, Takara Bio Inc, Shimadzu corporation, GL sciences Inc, Tosoh corporation, TCI chemicals, Cambridge Isotope Laboratories, Seron Technologies, Starna Scientific ltd, Bernd Kraft GmbH, VICI AG International, Armin, European Directorate for the Quality of Medicines & HealthCare (EDQM), Nanolek, Wessling Romania SRL, Anahem, Trilogy Europe B.V, Alpen Pharma AG, Spex Certiprep, Accustandard, Cayman Chemical Company, SGS, JLA Argentina, Galab Peru, NSF-INASSA, Huber group, Eurofins, Alicorp, Gulf Bio Analytical, GHP Testing & Calibration Lab, Lab Gulf, Industrial Analytical (Pty) Ltd, USP, Mettler-Toledo LLC, OI Corporation, Bruker Corporation
Where Are the Key Analytical Standards Market Opportunities by Region?
North America was the largest region in the analytical standards market in 2024. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the analytical standards market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Asia +44 7882 955267 & +91 8897263534,
Europe +44 7882 955267,
Email: saumyas@tbrc.info
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