Analytical Standards Market worth $2.1 billion by 2028
The report "Analytical Standards Market by Category (Organic, Inorganic), Technique (GC, MS, LC, IR, NMR, Gravimetry), Method (Bioanalytical, Dissolution, Material Testing), Application (Food, Environmental, Pharmaceutical, Forensics) - Global Forecast to 2028", size is expected to grow from an estimated USD 1.5 billion in 2023 to USD 2.1 billion by 2028, at a CAGR of 6.9%. Factors such as growth in the applications of analytical techniques in proteomics & metabolomics and the rising public concerns related to optimal food safety & quality are high growth prospects for the analytical standards market during the forecast period.
Browse 254 market data Tables and 38 Figures spread through 298 Pages and in-depth TOC on "Analytical Standards Market by Category (Organic, Inorganic), Technique (GC, MS, LC, IR, NMR, Gravimetry), Method (Bioanalytical, Dissolution, Material Testing), Application (Food, Environmental, Pharmaceutical, Forensics) - Global Forecast to 2028"
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The spectroscopy segment is to register a significant growth rate over the forecast period of 2023-2028.
Based on the technique, over the forecast period of 2023-2028, the spectroscopy segment is to register a significant growth rate. The key factor encouraging the growth of this segment during the forecast period is the presence of a widespread use of spectroscopic techniques across a broad range of application areas along with increasing drug development R&D. The spectroscopy segment is further divided into atomic absorption spectroscopy, mass spectroscopy, IR spectroscopy, nuclear magnetic resonance spectroscopy, X-ray fluorescence/diffraction spectroscopy, UV/Vis spectroscopy.
The pharmaceutical & life sciences standards segment accounted for the largest share of analytical standards in 2023-2028.
Based on application, the pharmaceutical & life sciences standards segment is estimated to hold the largest market share of the analytical standards market during the forecast period. The rising popularity of traditional medicines, the increasing drug development in developed countries and the increasing use of certified reference materials (CRMs) to ensure the quality of pharmaceuticals, increasing awareness, regulations on cosmetic products lead to a large share of this segment.
Asia Pacific registered the highest CAGR in the market during the forecast period.
In 2023, Asia Pacific is expected to register the highest CAGR in the market for analytical standards during the forecast period. Asia Pacific comprises China, India, South Korea, Taiwan, and Singapore, and the rest of Asia Pacific. Factors such as the increasing focus on soil testing, food security concerns in India, high use of analytical technologies in Japan, an increasing number of clusters, high-growth opportunities for market players and the growing biotechnology, biomedical, and pharmaceutical industries in China are driving the growth of the APAC analytical standards market during the forecast period.
As of 2022, prominent players in analytical standards are Merck KGaA (Germany), Agilent Technologies (US), Waters Corporation (US), LGC Standards (UK), PerkinElmer, Inc. (US), Restek Corporation (US), SPEX CertiPrep (US), AccuStandard, Inc. (US), Thermo Fisher Scientific, Inc. (US), and Mallinckrodt (UK) among others.
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