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Published Date: 2017-09-08Number of Pages: 170

Analytical Standards Market (Product – Organic, Inorganic; Application – Environmental, Food and Beverage, Forensic, Pharmaceutical and Life Sciences, Oil and Gas, Veterinary; Technique – Chromatography, Spectroscopy, Titrimetry, Physical Properties Testing) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022

Global Analytical Standards Market: Snapshot

The global analytical standards market has exhibited rapid growth in the last few years on the back of steady growth of the healthcare industry and growing demand for inspection in other industries such as the food and beverage and pharmaceuticals industry. Environmental applications have also become important consumers in the analytical standards market due to the declining environmental conditions across the world. The analytical standards market has thus enjoyed steady growth and is likely to benefit from the promising growth prospects of several end use industries in the coming years. Analytical standards have become vital due to the need for increased inspection in industries whose products interact closely with human beings and are thus liable for considerable damage.

According to Transparency Market Research, the global analytical standards market was valued at more than US$1.2 bn in 2017 and is likely to rise steadily in the 2017-2022 forecast period at a robust single-digit CAGR.

Growing Need in Food and Beverage Industry Drives Demand from Analytical Standards Market

One of the key growth drivers for the global analytical standards market is the growing need for testing services in the booming food and beverage industry. Globalization of the food and beverage industry has led to the conception of several innovations that are novel to the industry, such as international packaging of fresh produce. The rising demand for packaged food in urban areas has also led to a need for comprehensive testing procedures. The food and beverage industry is likely to remain a key consumer for the analytical standards market in the coming years due to the steady growth prospects of the industry across the world.

Organic Analytical Standards to Dominate Global Market Figures

By product type, the global analytical standards market is bifurcated into organic and inorganic analytical standards. Organic analytical standards are likely to remain the leading contributor to the global analytical standards market through the 2017-2022 forecast period due to the rising need in pharmaceutical and food and beverage industries. The life sciences sector is likely to exhibit the highest CAGR in the global analytical standards market through the 2017-2022 forecast period, leading to a steady growth in demand for organic analytical standards.

Environmental Applications to Dominate despite Growing Demand from Life Sciences Sector

Despite the rising role of the pharmaceuticals and healthcare sectors in the global analytical standards market, environmental applications are likely to remain the leading contributor to the market in the coming years. The intense scale of environmental damage in several areas across the world and the increasing government support to reverse the same is likely to keep the demand from the analytical standards market high from environmental applications.

North America to Dominate, Asia Pacific to Exhibit Steady Growth

The global analytical standards market is dominated by North America, which accounted for US$371.3 mn in 2017 and is expected to rise to US$500.1 mn by 2022 at a robust 6.1% CAGR. Europe is another major contributor to the global analytical standards market, with the region’s contribution to the global market estimated at 25.9% in 2017. However, the regional market is likely to drop in market share over the forecast period due to the steady growth of the life sciences sector in Asia Pacific. The Asia Pacific except Japan market for analytical standards is expected to rise in prominence in the global analytical standards market over the 2017-2022 forecast period. The Middle East and Africa plays a relatively minor role in the global analytical standards market, but is projected to exhibit a steady 5.4% CAGR over the 2017-2022 forecast period on the way to a rise in valuation to US$69.7 mn.

Global Analytical Standards Market: Competitive Dynamics

Some of the key companies in the global analytical standards market are Accustandard Inc., Cayman Chemical Company, GFS Chemicals Inc., Chiron AS, Agilent Technologies Inc., GE, Mallinckrodt Pharmaceuticals, Merck KGaA, LGC Standards, and Perkinelmer Inc.

Global Analytical Standards Market: Overview

The analytical standards market forms a key component of the life sciences industry and has become increasingly important due to the steady growth of industries such as healthcare and pharmaceuticals in recent years. The increased scrutiny given to these industries, due to the vital impact they have on consumers has led to increased demand from the analytical standards market. The analytical standards industry has thus also become important for the food and beverage industry in recent years.

The report provides a close look at the growth dynamics of the global analytical standards market. The key growth drivers and restraints affecting the analytical standards market are profiled in the report, along with information about the leading segments of the market by each criterion. Historical information about each segment is provided in the report, along with detailed projections regarding their likely growth trajectory in the 2017-2022 forecast period.

Global Analytical Standards Market: Dynamics

The global analytical standards market is driven primarily by the rising awareness about the possibility of contamination in crucial industrial sectors such as food and beverage and pharmaceuticals. The increasing demand from consumers for products in these industries has led to these industries facing increasing scrutiny. The rising competition in these competitive sectors has also led to growing demand for analytical standards in order to avoid embarrassing mistakes, which can be unaffordable in terms of consumer outreach. Concerns related to food safety have picked up steam in recent years following steady expansion of a globalized food and beverage industry, making the analytical standards market likely to enjoy steady demand in the coming years.

The increasing number of public-private partnerships in the pharmaceuticals industry is likely to aid the analytical standards market’s growth in the coming years. The importance of the pharmaceuticals industry to ensuring a healthy citizen demographic has made several emerging countries eager to invest in the industry hoping for sustained beneficial output. This has driven steady investment in the analytical standards market in recent years and is likely to remain a major contributor to the market in the coming years.

Global Analytical Standards Market: Segmentation

By product type, the global analytical standards market is segmented into organic and inorganic standards. Organic analytical standards dominate the global analytical standards market at present, accounting for more than 70% of the global market in 2017. The segment is likely to rise to a valuation of US$1,144.8 mn by 2022, with its market share also likely to rise slightly to 71.2% over the forecast period.

Geographically, North America dominated the global analytical standards market due to the presence of several leading players in the pharmaceutical, healthcare, and food and beverage industries. The North America market for analytical standards was valued at US$371.3 mn in 2017 and is likely to rise to more than US$500 mn by the end of the 2017-2022 forecast period. The 6.1% CAGR expected of the North America analytical standards market is the highest of all geographical segments, further underlining the region’s importance to global market figures in the analytical standards industry. Further, Europe is also a leading contributor to the global analytical standards market, the region accounting for 25.9% of the global revenue of the analytical standards market.

Global Analytical Standards Market: Competitive Dynamics

Leading players in the global analytical standards market include Accustandard Inc., Cayman Chemical Company, GFS Chemicals Inc., Chiron AS, Agilent Technologies Inc., GE, Mallinckrodt Pharmaceuticals, Merck KGaA, LGC Standards, and Perkinelmer Inc. The competition in the analytical standards market is likely to intensify in the coming years due to the steady funding available in the market, which could lead to steady entry of new players.


 
 
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