Analytical Standards Market Overview:
The Analytical Standards Market size is projected to reach USD 1.7 billion by 2025 from USD 1.3 billion in 2020, at a CAGR of 6.3% during the forecast period. The global analytical standards market offers rising public concerns related to optimal food safety and quality, growing applications of analytical techniques in proteomics & metabolomics, and greater regulatory emphasis on effective pollution monitoring & control are some of the key factors driving the growth of the analytical standards market.
COVID-19 Impact on the global analytical standards market
The COVID-19 pandemic has significantly affected the analytical standards market. The analytical instrumentation sector is facing challenges in the manufacturing and supply chain, such as delivering products to end-users promptly and attending to an uneven demand for the products and services in this sector. The analytical standards market is also facing a period of short-term negative growth, which can be attributed to factors such as a decline in the product demand from major end-users, limited operations in most of the industries, inadequate funding to research and academic institutes, temporary closure of major academic institutes, disrupted supply chain, and challenges in providing essential/post-sales services due to lockdowns. These factors have led to the reduced demand for analytical standards from end-users.
The analytical standards market includes major Tier I and II suppliers like Merck KGaA (Germany), Agilent Technologies (US), Waters Corporation (US), LGC Standards (UK), and PerkinElmer, Inc. (US). Other major market players in the analytical standards market include Restek Corporation (US), SPEX CertiPrep (US), AccuStandard, Inc. (US), Thermo Fisher Scientific, Inc. (US), Mallinckrodt (UK), US Pharmacopeial Convention (US), Cayman Chemical Company (US), RICCA Chemical Company (US), GFS Chemicals, Inc. (US), and Chiron AS (Norway), among others. These suppliers have their manufacturing facilities spread across regions such as North America and Europe. COVID-19 has impacted their businesses as well. Demand for analytical standards from key end-users has declined a bit amidst the global COVID-19 pandemic. Industry experts believe that COVID-19 will have a short-term decline in the growth for the analytical standards market in 2020, but will experience normal development as the market gradually steadies by the end of 2020.
Request For Sample:
By technique, the chromatography segment is expected to have the largest market share during the forecast period The large share of this segment is attributed to factors such as the presence of a large number of matured & emerging suppliers that provide a broad range of chromatographic standards across the globe and rising use of chromatography across environmental testing, food testing, cosmetics, chemicals, research, forensic, and oil & petrochemical sectors owing to its benefits over other analytical techniques such as its high selectivity, sensitivity, reliability, and versatility.
Environmental analytical standards is the largest application segment of the analytical standards market The environmental analytical standards segment is expected to dominate the overall analytical standards market during the forecast period. The large share of this segment is majorly attributed to the rising emissions of pollutants, regulatory mandates related to the environment, raising awareness of the importance of a clean environment, degradation of environmental quality, and solid waste generation.
Merck KGaA (Germany), Agilent Technologies (US), Waters Corporation (US), LGC Standards (UK), and PerkinElmer, Inc. (US) are the major players in analytical standards market. Other major market players in the analytical standards market include Restek Corporation (US), SPEX CertiPrep (US), AccuStandard, Inc. (US), Thermo Fisher Scientific, Inc. (US), Mallinckrodt (UK), US Pharmacopeial Convention (US), Cayman Chemical Company (US), RICCA Chemical Company (US), GFS Chemicals, Inc. (US), and Chiron AS (Norway).
Agilent Technologies Inc. holds a significant position in the analytical standards market, owing to its strong R&D capabilities and innovative products. The companys product portfolio includes analytical standards for various techniques, including chromatography, spectroscopy, and titrimetry. The high demand for its analytical standards from research laboratories and academic institutes has helped the company maintain its share. To strengthen its current position and gain a larger share of the analytical standards market, the company focuses on inorganic business growth strategies such as partnerships, collaborations, and market expansions.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model — GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
INC. 630 Dundee Road
Suite 430 Northbrook, IL 60062
USA : 1-888-600-6441