Global Analytical Standards Market is valued approximately at USD 1.4 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.5% over the forecast period 2020-2026. An analytics standard is the biochemical properties and values analyzed to be as healthy and usable by health organizations around the world. These standards examine the quality and purity of drugs and formulated medicine. Also, these standards are used to execute tests or calibration of an analyzer. Through these standards, the health organizations can achieve optimal performance and compliance. Rising focus on optimal food safety and quality, growing demand of analytical techniques in proteomics and metabolomics and stringent regulatory scenario in the pharmaceutical industry are the few factors responsible for high CAGR of the market over the forecast period. For instance: In India, the Food Safety and Standards Authority of India (FSSAI) plans to invest about USD 72.3 million to support the food testing infrastructure across the country as the food industry in India was roughly 32% of the country’s total food market in 2017. Also, this investment results in progressing of 59 prevailing food testing laboratories and setting up 62 new mobile testing labs in the country. This, in turn, is expected to accelerate the demand of analytical standards, thus contributing to the growth of the global market. However, stringent storage requirements for analytical standards and lack of awareness for effective pollution monitoring strategies are the few factors expected to hamper the growth of the market over the forecast period of 2020-2026.
The regional analysis of global Analytical Standards market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising life science research funding, along with the increasing number of clinical trials and government support for the massive spending on research activities in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026, due to growing public & private investments in the biotechnology industry and surging utilization of analytical technologies in Japan.
Major market player included in this report are:
Agilent Technologies Inc.
Thermo Fisher Scientific, Inc.
General Electric Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Physical Property Testing Standards
Food & Beverages
Pharmaceutical and Life Sciences Standards
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Analytical Standards Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers