London, Dec. 14, 2020 (GLOBE NEWSWIRE) -- According to a new market research report titled “Analytical Standards Market by Type, Category (Primary, Secondary), Technique [Spectroscopy, Chromatography, Titrimetry], Industry [Environmental, Food (GMO, Carbohydrate), Petrochemistry (Diesel, Gasoline), Forensics], and Application- Global Forecast to 2027”, published by Meticulous Research®, the analytical standards market is expected to grow at a CAGR of 6.8% from 2020 to 2027 to reach $2.66 billion by 2027.
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An analytical standard is a compound of known concentration and high purity, used as a calibration standard for a given assay. This tool analyzes samples across various end-use industries like pharmaceutical, food and beverages, environmental science, forensic, agriculture, and veterinary science. The U.S. FDA and other regulatory authorities and accreditation bodies are focusing on analytical standards due to the primary role these standards play in forensic and clinical testing, dietary supplements, and pharmaceuticals.
Impact of COVID-19 on the Analytical Standards Market
The ongoing COVID-19 pandemic has diversely impacted the healthcare market both positively and negatively. The COVID-19 pandemic impact has been positive on this market, as the demand for the number of antiviral analytical standards has increased significantly. There are several COVID-19 therapeutics, diagnostic products, and vaccines under clinical studies, for which the demand for reference materials has increased. For instance, as of September 2020, there were ~596 therapeutics and 179 vaccines under development. Pfizer’s (U.S.) mRNA-based vaccine candidate, BNT162b2, recombinant protein-based vaccines under co-development by GSK (U.K.) and Sanofi (France) and Moderna Inc.’s (U.S.) mRNA vaccine candidate, mRNA-1273 are some of the key examples of COVID-19 vaccines candidates under clinical development. Such developments are expected to accelerate the demand for analytical standards for pharmaceutical research.
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Few examples of developments in COVID-19 are as follows:
- In March 2020, LGC Limited (U.K.) expanded AccuPlex COVID-19 reference materials to provide a valuable tool for diagnostic kit manufacturers.
- In June 2020, the U.S. Pharmacopeia (USP) donated samples of four monoclonal antibodies (mAb) Reference Standards to researchers developing mAb-based treatments for COVID-19.
- In 2020, a multidisciplinary research team from the National Institute of Standards and Technology (NIST) developed a way to increase the sensitivity of the primary test used to detect the SARS-CoV-2 virus.
Based on the type, the organic standards segment is projected to account for the largest share of the market in 2020. The large share of this segment is mainly attributed to the higher demand for organic analytes to estimate the precision of quantitative assay in various end-use industries. This segment is expected to grow at the highest CAGR over the forecast period due to the immense opportunities in the organic foods market.
Based on category, in 2020, the primary standards segment is estimated to account for the largest share of the overall analytical standards market to the high purity & stability of these standards and their easy combination with other analytes.
Based on technique, the chromatography segment is estimated to command the largest share of the overall analytical standards market in 2020. This segment's major share is primarily attributed to the technological advancements in chromatographic separations and the growing penetration of chromatography in pharmaceutical processing.
Based on industry vertical, the environment segment is estimated to account for the largest share of the overall analytical standards market in 2020. The largest share of this segment is mainly attributed to the rising analytical testing of environmental samples and increasing number of new analytical standards launched for environmental monitoring.
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Based on application, the microbiology testing segment is projected to grow at the highest CAGR over the forecast period due to the growing number of biologics, the emerging pharma industry, and wide applications in identifying & determining the sterility of end products.
The report also includes an extensive assessment of the key strategic developments adopted by leading market participants over the past four years (2017-2020). The analytical standards market has witnessed several new product developments, acquisitions, and expansions in new manufacturing capacities. In June 2020, LGC Limited (U.K.) and SeraCare (U.S.) released ACCURUN Anti-SARS-CoV-2 Reference Materials to address the critical need for clinical laboratories to respond to the ongoing COVID-19 pandemic.
The key players operating in the analytical standards market are Merck KGaA (Germany), Agilent Technologies, Inc. (U.S.), Waters Corporation (U.S.), PerkinElmer Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Restek Corporation (U.S.), Takara Bio Inc. (Japan), SPEX CertiPrep. (U.S.), LGC Limited (U.K), and AccuStandard. (U.S.) among others.
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Scope of the Report:
Analytical Standards Market, by Type
- Organic Standards
- Inorganic Standards
Analytical Standards Market, by Category
- Primary Standards
- Secondary Standards
Analytical Standards Market, by Technique
- Chromatography
- Ion Chromatography
- Gas Chromatography
- Liquid Chromatography
- Thin Layer Chromatography
- Other Chromatography Techniques
- Spectroscopy
- Atomic Absorption Spectroscopy
- Mass Spectroscopy
- IR Spectroscopy
- Nuclear Magnetic Resonance Spectrometry
- X-Ray Fluorescence/Diffraction Spectrometry
- UV/Vis Spectroscopy
- Other Spectrometry Techniques
- Titration
- Physical Properties Testing
- Viscosity Testing
- Sieve Calibration & Particle Size Testing
- Colour Reference Testing
- Others
Analytical Standards Market, by Industry
- Environment
- Pesticide Standards
- Volatile Standards
- Solid Waste Standards
- Flame Retardant Standards
- Other Standards
- Food and Beverage
- Allergen Standards
- Dyes and Metabolites Standards
- GMO Standards
- Mycotoxins Standards
- Nutritional Composition Compound Standards
- Flavor & Fragrance Standards
- Carbohydrate Standards
- Peptide/Amino Acid Standards
- Pharmaceutical & Life Sciences
- Impurity Reference Standards
- Phytochemicals/ Phytopharmaceutical Standards
- Cosmetic Standards
- API Standards
- Pharmaceutical Toxicology Standards
- Pharmacopeial Standards
- Other Standards
- Petrochemistry
- Diesel, Gasoline, Matrix Oils, and Petroleum Standards
- Biofuel Standards
- Forensics
- Veterinary Sciences
Analytical Standards Market, by Application
- Microbiology Testing
- Physical Properties Testing
- Toxicity Testing
- Contamination Testing
- QA/QC Testing
- Proficiency Testing
- Stability Testing
- Other Applications
(Note: Other applications include Chemical Composition Testing and Trace Element Testing)
Analytical Standards Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific (APAC)
- Japan
- China
- India
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
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