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(Health-NewsWire.Net, April 17, 2020 ) The Analytical Standards Market report analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
This report studies the global analytical standards market over the forecast period of 2017 to 2022. The market is projected to reach USD 1.73 Billion by 2022 from USD 1.27 Billion in 2017, at a CAGR of 6.3%. Factors such as stringent regulatory scenario in pharmaceutical industry, rising public concern related to food safety and quality, and increasing number of research activities are driving the growth of the market.
Based on category, the organic analytical standard segment is expected to witness the highest growth during the forecast period.
On the basis of category, the analytical standard market is categorized into organic analytical standards and inorganic analytical standards. In 2016, the organic analytical standards segment accounted for the largest share. It is also expected to register the highest CAGR during the forecast period. This can be attributed to increasing public-private investment for various research studies and increasing drug development activities & clinical trials.
Based on technique, the chromatography segment is estimated to be the largest segment of the market in 2016.
On the basis of technique, the market is segmented into chromatography, spectroscopy, titrimetry, and physical properties testing. In 2016, the chromatography segment accounted for the largest share of the market, majorly due to the growing food safety concerns and increasing importance of chromatography tests in drug approvals.
Based on application, the environmental segment is estimated to have the largest share of the market in 2016.
Based on applications, the market is categorized into food & beverages, forensic, veterinary, petrochemistry, environmental, and pharmaceutical & life sciences. The environmental application segment accounted for the major share of the market owing to rising emissions of pollutants, regulatory mandates related to the environmental pollution control and rising awareness on the importance of a clean environment.
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North America is expected to dominate the analytical standard market in 2016.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest share of the market in 2016, followed by Europe. The market in North America is primarily driven by the availability of government funding for research and stringent regulations for pharmaceutical & biotechnology products. However, Asia-Pacific is expected to register the highest growth rate during the forecast period due to the outsourcing of clinical trials from developed to emerging Asian nations and increasing focus on soil testing and food security concerns in the region.
The major players of the analytical standard market include Merck KGaA (Germany), Agilent Technologies Inc. (U.S.), Waters Corporation (U.S.), LGC Standards (U.K.), and Restek Corporation (U.S.). Other key players in this market include Thermo Fischer Scientific (U.S.), General Electric Company (U.S.), PerkinElmer, Inc. (U.S.), Mallinckrodt Baker, Inc. (U.K.), and SPEX CertiPrep (U.S.).
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