Global Analytical Standards Market Size, Status And Forecast 2021-2030
MarketInsightsReports, one of the world’s prominent market research firms has released a new report on Analytical Standards Market. The report contains crucial insights on the market which will support the clients to make the right business decisions.
The global analytical standards market is expected to grow from $1.34 billion in 2020 to $1.52 billion in 2021 at a compound annual growth rate (CAGR) of 11.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.98 billion in 2025 at a CAGR of 6.75%.
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The research report is a compilation of key data with regards to the competitive landscape of this vertical and the multiple regions where the business has successfully established its position.
Top Companies in the Global Analytical Standards Market: Merck KGaA, Agilent Technologies, Waters Corporation, LGC Standards, PerkinElmer Inc, Restek Corporation, SPEX CertiPrep, AccuStandard Inc., Thermo Fisher Scientific Inc, and Mallinckrodt.
The analytical standards market covered in this report is segmented by type into organic standards, inorganic standards; by technique into chromatography, spectroscopy, titrimetry, physical property testing; by methodology into bioanalytical testing, stability testing, raw material testing, dissolution testing, others; by application into microbiology testing, physical properties testing, toxicity testing, contamination testing, QA/QC testing, proficiency testing, stability testing, others and by end-user into food & beverages standards, forensic standards, veterinary drug standards, petrochemistry standards, environmental, pharmaceutical and life science standards.
North America was the largest region in the analytical standards market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The high capital investment required for the analytical instruments is expected to hamper the growth of the analytical standards market in the coming years. Analytical instruments are a broad variety of tools employed for analytical purposes in clinical, oil refineries, pharmaceutical, chemical, and food processing laboratories. The cost of the instrument is generally perceived to be an investment in a new method. The cost of the analytical instrument ranges between $17,000 to $25,000. The maintenance cost further includes service contract cost of $2,000, which is usually 10%-15% of the purchase cost of the equipment every year. Therefore, the huge capital investment required for the analytical instruments restraints the growth of the analytical standards market.
in December 2019, LGC Ltd, a UK-based company that provides laboratory services, measurement standards, reference materials, and proficiency testing marketplaces, acquired Toronto Research Chemicals Inc for an undisclosed amount. The acquisition of Toronto Research Chemicals Inc complements LGC�s existing reference standards business, which includes the Mikromol and Dr. Ehrenstorfer�s product portfolios, and provides commercial and operational opportunities to develop the combined product and service offering to customers globally. Toronto Research Chemicals Inc is a Canada-based company that manufactures and supplies researchers in the biomedical fields with specialized complex organic small molecules not otherwise commercially available.
The rising public concerns related to optimal food safety and quality are predicted to boost the growth of the analytical standards market over the coming years. Consumption of contaminated and adulterated food comprising chemical compounds, dangerous bacteria, parasites, and viruses produces more than 200 diseases ranging from diarrhea to cancer. Analytical techniques such as mass spectrometry and chromatography are widely employed by food testing laboratories to scan for spoilage and guarantee food safety. For instance, according to the World Health Organization�s report published in 2020, it is projected that 600 million (nearly 1 in 10 people) fall ill in the nation after consuming adulterated food and 420 000 die each year, resulting in the loss of 33 million healthy years of life. Diarrheal illnesses are the most prevalent diseases caused by the ingestion of infected food, leading 550 million individuals to fall sick and 230 000 losses per year. Therefore, the rising public concerns related to optimal food safety and quality drive the growth of the analytical standards market.
Technological advancement is a key trend gaining popularity in the analytical standards market. Major companies operating in the analytical standards sector are focusing on developing new technological solutions for analytical standards. For example, in September 2020, Waters Corp, a US-based analytical laboratory instrument manufacturing company declared the formation of the new Waters Analytical Laboratory Immerse Cambridge. Immerse Cambridge’s open technology concept comprises the latest analytical, informatics, and automation resources that span a broad spectrum of domains across the life, food, and materials sciences. It is also tailored for disseminating and spreading concepts through training, collaborative study, and mentoring experience for students and emerging business experts.
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Influence of the Analytical Standards market report:
-Comprehensive assessment of all opportunities and risk in the Analytical Standards market.
-Analytical Standards market recent innovations and major events.
-Detailed study of business strategies for growth of the Analytical Standards market-leading players.
-Conclusive study about the growth plot of Analytical Standards market for forthcoming years.
-In-depth understanding of Analytical Standards market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Analytical Standards market.
Browse the report description and TOC: https://www.marketinsightsreports.com/reports/03242748169/analytical-standards-global-market-report-2021-covid-19-growth-and-change-including-1-by-type-organic-standards-inorganic-standards-2-by-technique-chromatography-spectroscopy-titrimetry-physical-property-testing-3-by-methodology-bioanalytical-testing-stability-testing-raw-material-testing-dissolution-testing-others-4-by-application-microbiology-testing-physical-properties-testing-toxicity-testing-contamination-testing-qa-qc-testing-proficiency-testing-stability-testing-others-5-by-end-user-food-beverages-standards-forensic-standards-veterinary-drug-standards-petrochemistry-standards-environmental-pharmaceutical-and-life-science-standards-covering-merck-kgaa-agilent-technologies-waters-corporation-lgc-standards-perkinelmer-inc?mode=xix
What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluates key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Analytical Standards Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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