Wilmington, Delaware, United States, Aug. 24, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global analytical standards market is expected to surpass a value of US$ 2.29 Bn by the end of 2031, according to a research report by Transparency Market Research (TMR). Thus, the market is expected to grow at a CAGR of 6.7% during the forecast period of 2022 to 2031.
Players operating in the analytical standards market are using different strategies such as acquisitions and regional expansions in order to stay ahead of the competition. This aside, companies in the market for analytical standards are focusing on contract manufacturing & outsourcing and expanding their product portfolios through custom synthesis. Moreover, several enterprises in the analytical standards market are gaining manifold accreditations for high level of security so that their customers can work with complete confidence with their reagents. Such efforts are anticipated to result into growth of the analytical standards market at significant pace during the forecast period.
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Analytical Standards Market: Key Findings
- Analysts at TMR state that the analytical standards market is projected to gain profitable prospects during the forecast period owing to many factors including a rise in the utilization of analytical techniques in a wide range of end-use industries such as the food & beverages, environmental, pharmaceutical & life sciences, veterinary, forensic, and petrochemistry. This aside, the market for analytical standards is being driven by a rise in the development of latest analytical technologies and increase in the number of clinical trials carried out globally.
- Over the period of past few years, there has been a surge in concerns pertaining to the quality and safety of food. This factor is boosting the demand for analytical standards across the globe, states a TMR report on the analytical standards market. Moreover, there has been a rise in the utilization of analytical techniques in proteomics and metabolomics. This, in turn, is expected to lead to revenue-generation opportunities for analytical standards manufacturers, states TMR assessment.
- The government authorities of several developed and developing nations globally are incorporating strict regulations pertaining to the biotechnology and pharmaceutical production activities. This factor is resulting into a surge in the use of analytical technologies in the pharmaceutical and biotechnology industry, which in turn, is creating sizable expansion avenues in the analytical standards market, notes a TMR report.
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Analytical Standards Market: Growth Boosters
- Rise in the use of analytical technologies in metabolomics is creating sizable growth opportunities in analytical standards market
- Rapid expansion of the life sciences industry is expected to generate notable growth prospects for analytical standards market players
Analytical Standards Market: Regional Analysis
- The analytical standards market in North America is projected to maintain its prominent position during the forecast period owing to several factors including increase in the number of research activities, the existence of many leading companies, and advanced healthcare industry in the region
- The Europe analytical standards market is expected to gain profitable prospects in the near future owing to rise in the involvement of regional governments in the food safety and environmental control and rise in investment by the regional market players in pharmaceuticals & life sciences industries
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Analytical Standards Market: Key Players
Some of the key players profiled in the report are:
- Agilent Technologies, Inc.
- AccuStandard, Inc.
- Merck KGaA
- Inorganic Ventures
- GFS Chemicals
- Mallinckrodt Pharmaceuticals
- GE Healthcare
- LGC Standards
- PerkinElmer, Inc.
- Waters Corporation
Analytical Standards Market Segmentation
- Application
- Environmental
- Food & Beverage
- Pharmaceutical & Life Sciences
- Petrochemistry
- Forensic
- Veterinary
- Environmental
- Food & Beverage
- Technique
- Chromatography
- Spectroscopy
- Titrimetry
- Physical Properties Testing
- Type
- Organic
- Inorganic
Regions Covered
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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