Analytical Standards Market by Category (Organic, Inorganic), Technique (GC, MS, LC, IR, NMR, Gravimetry), Method (Bioanalytical, Dissolution, Material Testing), Application (Food, Environmental, Pharmaceutical, Forensics) & Region - Global Forecast to 20

Analytical Standards Market by Category (Organic, Inorganic), Technique (GC, MS, LC, IR, NMR, Gravimetry), Method (Bioanalytical, Dissolution, Material Testing), Application (Food, Environmental, Pharmaceutical, Forensics) & Region - Global Forecast to 2028

The global analytical standards market is projected to reach USD 2.1 billion by 2028 from USD 1.5 billion in 2023, growing at a CAGR of 6.9% during the forecast period. The rise in adoption of analytical techniques in pesticide monitoring is one of the major factors anticipated to boost market growth in the forecasting years. Additionally, development of new analytical methods affect the growth of analytical standards market.

“The spectroscopy segment to hold the largest share of the market in 2023.”

Based on technique, the analytical standards market is segmented into chromatography, spectroscopy, titrimetry, and physical properties testing. The analytical standards market is expected to be dominated by spectroscopy during the forecast period. The use of spectroscopy technique is expected to propel due to the rise in the widespread use of spectroscopic techniques and the increasing research and development for drug development.

“The pharmaceutical & life science standards segment to hold the largest share of the market in 2023.”

Based on application, analytical standards is segmented into food & beverages standards, forensic standards, veterinary drug standards, environmental standards, petrochemistry standards and pharmaceutical & life science standards. Pharmaceutical & life science standards is expected to dominate the analytical standards market during the forecast period. The growth is attributed to the increasing use of certified reference materials (CRMs) to ensure the quality of pharmaceuticals.

“The raw material testing segment to hold the largest share of the market in 2023.”

Based on the methodology, the analytical standards market is segmented into raw material testing, bioanalytical testing, stability testing, dissolution testing, and other methodologies. The raw material testing segment is estimated to hold the largest market share of the analytical standards market during the forecast period. The increase in commercialization of parenteral drugs and rising disease prevalence are the major drivers for growth.

“The organic analytical standards segment to hold the largest share of the market in 2023.”

The category market is segmented into organic analytical standards and inorganic analytical standards. Organic analytical standards accounted for the largest share of the global analytical standards market in 2022. This can be attributed to the increasing drug development & clinical trials, strong regulatory emphasis on effective pollution monitoring & control, and increasing public-private investment for various research.

“The market in the North America region is expected to hold a significant market share for analytical standards in 2022.”

The analytical standards market covers five key geographies—North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2022, a significant market share for analytical standards was held by the market in the North American region. The availability of government funding for life science R&D, the stringent drug development and food & environmental safety regulations led to the growth of the analytical standards market in this region.

A breakdown of the primary participants referred to for this report is provided below:

By Company Type: Tier 1–25%, Tier 2–30%, and Tier 3– 45%

By Designation: Director-level–30%, C-level–23%, and Others–47%

By Region: North America–40%, Europe–30%, Asia Pacific–22%, Latin America- 6%, MEA- 2%

The prominent players in the analytical standards market are Merck KGaA (Germany), Agilent Technologies (US), Waters Corporation (US), LGC Standards (UK), and PerkinElmer, Inc. (US). Other prominent players include Restek Corporation (US), SPEX CertiPrep (US), AccuStandard, Inc. (US), Thermo Fisher Scientific, Inc. (US), Mallinckrodt (UK), US Pharmacopeial Convention (US), Cayman Chemical Company (US), RICCA Chemical Company (US), GFS Chemicals, Inc. (US), and Chiron AS (Norway), among others.

Research Coverage

This report studies the analytical standards market based on technique, application, methodology, category, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).

Reasons to Buy the Report

The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their market presence.

This report provides insights on the following pointers:

Analysis of key drivers (growth in the associated equipment markets, rising focus on preventive medical equipment maintenance, adoption of innovative funding mechanisms, increasing purchase of refurbished medical systems), restraints (high initial cost and significant maintenance expenditure, fiscal unsustainability due to wasteful spending), opportunities (innovation in service offerings and use of IoT, emergence of ISOs, emerging markets across Central and Eastern Europe and APAC), and challenges (survival of players in a highly fragmented and competitive market, dearth of skilled technicians and biomedical engineers) influencing the growth of analytical standards market

Market Penetration: Comprehensive information on the product portfolios offered by the top players in the analytical standards market

Service Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and service developments in the analytical standards market

Market Development: Comprehensive information on lucrative emerging regions

Market Diversification: Exhaustive information about new services, growing geographies, and recent developments in the analytical standards market

Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and services of the leading market players.