Analytical Standards Companies

The global analytical standards market is projected to reach USD 2.16 billion by 2030 from USD 1.53 billion in 2024, at a CAGR of 5.9% from 2024 to 2030. The growth in research and development investments, strategic agreements and collaborations between manufacturers and end users, rising public concerns related to optimal food safety and increasing adoption of analytical techniques in pesticide monitoring. These key factors are encouraging the growth of analytical standards market globally.

The analytical standards market exhibits moderate competitiveness, featuring both established companies and emerging competitors for the same market share. As of 2023, the key player operating in the global analytical standards market are Merck KGaA (Germany), Agilent Technologies, Inc. (US), Waters Corporation (US), LGC Limited (UK), PerkinElmer (US), The United States Pharmacopeial Convention (US), and SPEX CertiPrep (US).

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In the past four years, top players in this market have employed key strategies such as product launches, making agreements, and undertaking expansions. In 2023, a major share of the analytical standards market was held by Merck KGaA (Germany), Agilent Technologies, Inc. (US), LGC Limited (UK), Waters Corporation (US) and The United States Pharmacopeial Convention (US).

Merck KGaA (Germany)

Merck KGaA held the one of the top positions in the market, with the most significant global share in 2023. The company offers a broad product portfolio to gain the leading market share, and a strong geographical presence in more than 160 countries globally. The company focuses on organic & inorganic growth strategies to enhance its footprint. For instance, the company underwent facility expansion in Nebraska, US, to increase the plant's manufacturing capacity. The company adheres to regulatory compliance for key end-use customers.

The United States Pharmacopeial Convention (US)

United States Pharmacopeial Convention held a key position in the analytical standards market due to its comprehensive portfolio of reference standards. The company has a strong presence across major countries, including India, Brazil, China, Ghana, the Philippines, Nigeria, Singapore, and Switzerland. The company functions with the help of many subsidiaries across these different regions worldwide. USP has a strong presence in analytical standards market among the various applications of analytical products.

Market Ranking

The analytical standards market is competitive, with five major players sharing 60-65% of the overall market. Merck KGaA differentiates itself based on its wide range of high-purity reference materials, complementing pharmaceutical, environmental, and food testing markets. Agilent is well placed with its chromatography, spectroscopy, and certified reference material expertise. LGC Limited makes its mark through quality assurance and proficiency testing across a number of industries. The United States Pharmacopeial Convention (USP) leads in the setting of regulatory standards and provision of pharmaceutical reference materials to make drugs safe and effective. Waters Corporation makes its presence stronger in the market through innovative analytical solutions for pharmaceuticals, life sciences, and environmental testing. As demand for premium analytical standards increases, such leading players are further upgrading their product offerings to cater to changing regulatory and industry requirements, with the rest of the market share being held by other specialized players. The remaining 35-40% of the market is shared among other regional and emerging vendors, contributing to extensive fragmentation and offering opportunities for smaller players to establish a footprint. Market competition is driven by advances in analytical testing technologies, rising regulatory demands across sectors, and the expanding requirement for high-quality reference materials.

Related Reports:

Analytical Standards Market by Technique (GC, LC, TLC, IR, MS, NMR, Titrimetry), Category (Organic, Inorganic), Method (Bioanalytical, Dissolution), Application (F&B, Environmental, Pharma, Clinical Diagnostic, Forensics), Region - Global Forecast to 2030

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