Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Global Analytical Standards Market by Category (Organic, Inorganic), Technique (GC, MS, LC, IR, NMR, Gravimetry), Method (Bioanalytical, Dissolution, Material Testing), Application (Food, Environmental, Pharmaceutical, Forensics) and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global analytical standards market is set to achieve a significant milestone, with projections indicating an increase from USD 1.5 billion in 2023 to USD 2.1 billion by the year 2028, marking a Compound Annual Growth Rate (CAGR) of 6.9%. This upward trend is largely propelled by enhanced adoption of analytical techniques for pesticide monitoring and evolving new analytical methods.
In-depth analysis indicates that the spectroscopy segment is anticipated to retain the largest share of the market in 2023. The widespread implementation of spectroscopic techniques in research and development, especially within the field of drug development, is driving this segment's growth.
Delving into application-based market segmentation, the pharmaceutical & life science standards category is slated to dominate. Stringent quality assurance measures in the pharmaceutical industry, achieved through the use of certified reference materials (CRMs), are fueling expansion in this sector.
Methodology-wise, raw material testing emerges as a dominant approach for the largest market share of the analytical standards sector. The growth in this segment is underpinned by the accelerating commercialization of parenteral drugs and the rising prevalence of diseases globally.
In terms of analytical standards categorization, organic standards command the majority market share. Growing research investments and regulatory focus on environmental monitoring amplify the demand for organic analytical standards.
From a regional perspective, North America is projected to maintain a significant market share for analytical standards in 2023. North America's market prevalence is attributed to robust government funding for life sciences R&D combined with rigorous regulations aimed at ensuring drug development and food & environmental safety.
The analytical standards market report provides a comprehensive analysis of the market's dynamics, encompassing driving factors, restraining forces, opportunities, and challenges. It also furnishes a thorough competitive assessment, inclusive of detailed profiles and strategic endeavors of leading market participants. Crucial insights on market penetration and diversification strategies offer essential guidance for stakeholders aiming to solidify their market presence and capitalize on emerging regional prospects.
Key Insights:
- 6.9% CAGR, reaching USD 2.1 billion by 2028
- Spectroscopy techniques significantly contributing to market growth
- Pharmaceutical & life science standards sector holds the largest market share
- North America retains a dominant regional market share due to strong R&D funding
Key Attributes
| Report Attribute | Details |
| No. of Pages | 299 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $1.5 Billion |
| Forecasted Market Value (USD) by 2028 | $2.1 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
Companies Mentioned
- Accustandard Inc.
- Agilent Technologies, Inc.
- Alfa Chemistry
- Biosynth
- Cambridge Isotope Laboratories, Inc.
- Cayman Chemical
- Chiron AS
- CPI International
- Crescent Chemical Co. Inc.
- GFS Chemicals, Inc.
- HPC Standards GmbH
- Inorganic Ventures
- Labsert
- LGC Limited
- Mallinckrodt
- Merck KGaA
- Novachem
- PerkinElmer, Inc.
- Reagecon Diagnostics Ltd.
- Restek Corporation
- Ricca Chemical Company
- Simson Pharma Limited
- Spex Certiprep
- The United States Pharmacopeial Convention
- Thermo Fisher Scientific Inc.
- Tokyo Chemical Industry Co. Ltd.
- Waters Corporation
- Wellington Laboratories Inc.
For more information about this report visit https://www.researchandmarkets.com/r/mmqox1
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