Analytical Standards Market - Industry Analysis, Market Size, Share, Trends, Growth and Forecast 2021 - 2026

Report Code: HCR 0467 Report Format: PDF + Excel

Analytical Standards Market Overview

The Analytical standard market size is estimated to reach $1,896 million by 2026 and is poised to grow at a CAGR of 6.6% over the forecast period of 2021-2026. Analytical standards are predominantly used to understand and confirm the presence of various components present in the obtained mixture. It is also used to increase the precision of quantitative analysis or to test and perform a calibration on the analyzer. Hence, they can be deciphered as the biochemical properties which are overtly used by health organizations around the world. Since these studies signify purity, complexity, and quality, the analytical standards are used comprehensively. The study of proteins and their interactions within the cell is termed proteomics, and companies are promoting their capabilities to provide analytical standards and certified reference material of various analogs. The field of study of small molecules or metabolomics is growing dynamically across two methods known as nuclear magnetic resonance and high-resolution mass spectrometry. Additionally, the modern techniques pertaining to chromatography such as liquid chromatography, gas chromatography, or electrophoresis are coupled with high-resolution mass spectrometry or HRMS. Owing to the increase in demand for analytical techniques in protein and metabolism along with the rising focus on food safety are some of the factors driving the analytical standard industry forward in the projected period of 2021-2026.

Report Coverage

The report: "Analytical Standards Market Forecast (2021-2026)", by Industry ARC covers an in-depth analysis of the following segments of the Analytical Standards Market.

By Category- Organic and Inorganic Analytical Standards.
By Technique- Chromatography, Spectroscopy, Titrimetric, and Physical Properties Standards.
By Application- Food and Beverages, Forensics, Veterinary, Environmental, Petrochemistry, and Pharmaceutical & Nutraceutical.
By Testing – Bioanalytical Testing, Stability Testing, Raw Material Testing, Dissolution Testing, and Others.
By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (the Middle East, and Africa).

Key Takeaways

  • Geographically, North America's analytical standard market held a dominant market share. It is owing to the region's market maturity and high technological nuances being readily adopted. Additionally, the rising awareness amongst the masses pertaining to food safety helped in realizing a high share. However, Asia-Pacific is estimated to be the fastest-growing owing to the rise in cases of chronic illness and the ready deployment of fund channels created to ease the finances, which has now allowed the growth of the analytical standards market.
  • The rising awareness amongst the consumers to purchase and use "clean" items or have clean labels has acted as a driver for the market. However, the lack of skilled professionals to operate the highly nuanced machines has been a grave market challenge.
  • A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in Analytical Standards Market Report.

    Analytical Standards Market- Geography (%) for 2020.

    Analytical Standards Market

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Analytical Standards Market Segmentation Analysis – By Technique

The analytical standard market based on technique can be further segmented into Chromatography, Spectroscopy, Titrimetric, and Physical Properties Standards. The chromatography held the largest market share in the year 2020. It is owing to the approach it follows, as it is straightforward, and the efficiency is high as compared to others. Additionally, the nutraceutical sector is utilizing the analytical standards for finding new attributable drugs which can potentially be consumed in the long run without causing any ill effects. Additionally, chromatography was used to find plausible vaccinations, such as against Ebola. Ebola's death toll was close to 11,000 in West Africa. The chromatography process helped in finding out which antibodies would prove out to be the best.

Moreover, chromatography segmented is estimated to be the fastest-growing, with a CAGR of 6.9% over the forecast period of 2021-2026. It is owing to its vast use in the product industry. For example, High-Performance Liquid Chromatography used along with spectrometry provides for the identification of meat, and helps in labeling products under beef, vegan, and others. The following usages will allow for the growth of this segment.

Analytical Standards Market Segmentation Analysis – By Application

The analytical standard market based on the application can be further segmented into Food and Beverages, Forensics, Veterinary, Environmental, Petrochemistry, and Pharmaceutical & Nutraceutical. The pharmaceutical and nutraceutical segment held a dominant market share in the year 2020. It is owing to the onset of a pandemic, and the subsequent allocation of finding potential vaccines. It is owing to the recent advent of affinity chromatography being used in making vaccines. For example, the AC or affinity chromatology methodology offers interaction between the target molecule and the immobilized ligand allows for separation of molecules from the crude process stream. It also assures reaching a high level of purity in a single step.

However, food and beverages are estimated to be the fastest-growing, with a CAGR of 7.2% over the forecast period of 2021-2026. It is owing to the rise in awareness amongst the masses to procure and see a clean label. For example, the majority of purchasers' decision relies on the "label", and if the ingredients are not clean, or obtained from sustainable practice the product would not be chosen. Additionally, more than half of the population is ready to pay more for products that are obtained via such practices. The following attributes would hold in the growth of this segment.

Analytical Standards Market Segmentation Analysis – By Geography

The Analytical Standards Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Geographically, North America's Analytical Standards Market held a dominant market share of 42% as compared to the others. It is owing to the region's advanced outlook pertaining to activities such as research and development, and additionally, ease of financing new ideas and start-ups, which are further propelling the marketers to join. For example, a rise of 24% was seen, which roughly translates to 4.4 million start-ups were registered in 2020 despite the health catastrophe. Moreover, product launches were predominant in areas of life-sciences and nutraceuticals.

However, Asia-Pacific is set to grow at a lucrative pace in the projected period of 2021-2026. The region is seeing a lot of public-private partnerships, which in turn are fuelling the market across the countries such as Japan, India, and China. Additionally, companies are following the process of being called conglomerates, so as to increase the company's product portfolio. Hence, it would allow for the growth of the following region.

Analytical Standards Market Drivers

Trends to adopt clean label ingredients have pushed the analytical standard market forward

The trends to adopt for a healthy lifestyle are now a much-talked-about practice in the HDI regions. Moreover, as per various company reports, 67% of the people now prefer food which exhibits positive action on the environment. Additionally, companies are now putting across advertisements pertaining to the "clean label" more than ever. Owing to mass literacy and cheap internet availability, consumers are spending more time looking for certifications, claims, and even ingredients. Hence, analytical standards are obsessively being used and will be used in the times to come. Moreover, people with dairy needs are also looking for such certifications, and hence, the demand will be curated by both vegan and non-vegan consumers.

Rising variants of concern amongst the newfound pathogens and viruses would allow the growth of analytical standards

After the advent of COVID-19, the scientists' community has become more vigilant than ever, even the government organizations are proving all the useful resources to substantiate studies and research in potential diseases causing pathogens. For example, Lassa fever is a haemorrhagic illness that causes potential damage to the organs and damage to the blood vessels as well. The outbreaks of such disease if extremely frequent and kill about 1-15% of those infected. As per GAVI, the potential researchers should continually study such illnesses, as the small outbreak has the potential to become a pandemic. However, with the rising cases of new illnesses and the increasing incidence of ailments like cancer and diabetes, the healthcare - pharmaceutical industry is evolving. The evolvement forces them to use various analytical standards owing to government regulations and regulatory frameworks.

Analytical Standards Market Challenges

The use of in-house preparation of analytical standards exhibits a grave market challenge

The blending of single elements to form analytical working solution standards can prove to be expensive, both in terms of time and resources. The private laboratory might just add extra costs pertaining to labor costs and total investment costs. Additionally, the documentation must be of high standards, moreover, this point pertains to an individual country's regulatory practice. While mixing analytical standards using personal or chemists, a real risk lies, as the validity can always be doubted. Additionally, a chemist can potentially create and introduce a contaminant in the real-world environment as to store the analytical standards, one needs to use ultra-clean bottles and have a sterilized laboratory. Moreover, a shortage of professionals in the field lies, as people are not readily choosing chemical molecular diagnostics as a course preference. However, the demand for the following severely outweighs the supply and hence poses a grave market challenge.

Analytical Standards Market Competitive Landscape

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the analytical standard market. The top 10- analytical standard market companies include:

  1. Merck KGaA
  2. Agilent Technologies Inc
  3. Waters Corporation
  4. Restek Corporation
  5. SpexCertiprep
  6. Accustandard Inc
  7. LGC Standards,
  8. Perkinelmer Inc
  9. Thermo Fisher Scientific Inc
  10. General Electric Company

Recent Developments

  • In 2020, EQRX, the company which uses analytical standards to create medicines pertaining to oncology, immune inflammation, and rare disease; formed a partnership with CStone pharmaceuticals by spending $150 million. This partnership will allow for future product expansion and geography expansion of EQRX.
  • In August 2019, LFGC acquired an important stake in the Toronto Research Chemicals. The following move would allow the former to have a vast portfolio in the standards market. Moreover, the acquisition will now allow product lines such as Mikromol and Dr. Ehrenstorfer to be added to the analytical standards market. Additionally, the merger would now allow expansion globally.

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1. Analytical Standards Market- Overview
    1.1 Definitions and Scope
2. Analytical Standards Market- Executive Summary
    2.1 Market Revenue, Market Size and Key Trends
    2.2 Key trends by Category
    2.3 Key trends by Technique
    2.4 Key trends by Geography
3. Analytical Standards Market- Comparative Analysis
    3.1 Company Benchmarking – Key Companies
    3.2 Financial Analysis– Key Companies
    3.3 Market Share Analysis– Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis- Average Selling Price
4. Analytical Standards Market- Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Analytical Standards Market– Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Case Studies of Successful Ventures
6. Analytical Standards Market- Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Analytical Standards Market– Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Analytical Standards Market– By Applications (Market Size –$Million/$Billion)
    8.1 Food and Beverages
        8.1.1 Mycotoxin Standards
        8.1.2 GMO Standards
        8.1.3 Fatty Acid/ Lipid/ Fame Standards
        8.1.4 Food Additive Standards
        8.1.5 Flavors and Fragrance Standards
        8.1.6 Carbohydrate Standards 
    8.2 Forensics
        8.2.1 Doping Standards
        8.2.2 Drugs of Abuse Standards
    8.3 Veterinary
    8.4 Environmental
        8.4.1 Pesticide Standards
        8.4.2 Volatile/ Sem-Volatile Standards
        8.4.3 Flame-Retardant Standards
        8.4.4 Dioxin Standards
        8.4.5 Solid Waste Standards
    8.5 Petrochemistry
    8.5.1 Gasoline, Diesel, and Petroleum Standards
    8.5.2 Bio-Fuel Standards
    8.6 Pharmaceutical and Nutraceuticals
9. Analytical Standards Market– By Technique (Market Size –$Million/$Billion)
    9.1 Chromatography
    9.2 Spectroscopy
    9.3 Titrimetery Standards
    9.4 Physical Properties Testing Standards
10. Analytical Standards Market– By Testing (Market Size –$Million/$Billion)
    10.1 Bioanalytical Testing 
    10.2 Stability Testing 
    10.3 Raw Material Testing 
    10.4 Dissolution Testing 
    10.5 Others
11. Analytical Standards Market– By Category (Market Size –$Million/$Billion)
    11.1 Organic Analytical Standards 
    11.2 Inorganic Analytical Standards 
12. Analytical Standards Market- By Geography (Market Size –$Million/$Billion)
    12.1 North America
        12.1.1 U.S.
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 U.K.
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Spain
        12.2.6 Russia
        12.2.7 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 India
        12.3.3 Japan
        12.3.4 South Korea
        12.3.5 Australia & New Zealand
        12.3.6 Rest of Asia-Pacific
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
        12.5.2 Africa
13. Analytical Standards Market- Entropy
14. Analytical Standards Market– Industry/Segment Competition Landscape Premium 
    14.1 Market Share Analysis
        14.1.1 Global Market Share – Key Companies
        14.1.2 Market Share by Region – Key companies
        14.1.3 Market Share by Countries – Key Companies
        14.1.4 Competition Matrix
        14.1.5 Best Practices for Companies
15. Analytical Standards Market– Key Company List by Country Premium Premium
16. Analytical Standards Market Company Analysis
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10
"*Financials for private companies would be provided on a best efforts basis”.