Analytical Standards Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2029

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Analytical Standards Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2029

Status : November, 2022 | Biotechnology

Report Digest

Global Analytical Standards Market – Overview

The global analytical standards market provides increasing public concerns related to optimum food quality and safety, increasing applications of different analytical techniques in proteomics & metabolomics, and better regulatory emphasis on efficient pollution control and monitoring are some of the important factors driving the growth of the analytical standards market. The COVID-19 pandemic has considerably 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.

Global Analytical Standards Market – Notable Developments

  • In 2020, Waters Corporation (US) established its Innovation and Research Laboratory in Massachusetts (US) for the innovation of analytical instruments and its consumables, which will strengthen the product portfolio of analytical products (including analytical standards)
  • In 2020, Restek Corporation (US) launched Ochratoxin A & Aflatoxins Standards.
  • In 2020, LGC Group (UK) launched ACCURUN Anti-SARS-CoV-2 Reference Materials and reference materials for allergen quantification.
  • In 2018, LGC Group (UK) launched VALIDATE hsTnT kit, VALIDATE Fibrinogen, and VALIDATE Procalcitonin kit.

Merck KGaA (Germany), Agilent Technologies (US), Restek Corporation (US), SPEX CertiPrep (US), AccuStandard, Inc. (US), Thermo Fisher Scientific, Inc. (US), Waters Corporation (US), LGC Standards (UK), and PerkinElmer, Inc. (US) are the major players in analytical standards market.

Some of the key developments in the global analytical standards market are given below:

Global Analytical Standards Market – Drivers and Restraints

There are several factors that are helping to drive the overall growth of the global analytical standards market. One of the key driving factors for the market growth has been increasing use of techniques such as chromatography, mass spectrometry, and other analytical techniques by the end user industries such as food laboratories to check for adulteration and make sure of food safety. Spectroscopy and chromatography are some of the most commonly applied analytical techniques in quality control of food and quality testing. All these factors are expected to drive the overall development of the global analytical standards market. In addition to this, strict regulations for ensuring food safety by different countries is also helping to drive the market growth.

However, there are some factors that impeding the development of the global analytical standards market. One of the key restraining factor for the market has been lack of awareness among people related to effective pollution monitoring strategies.

Global Analytical Standards Market – Geographical Outlook

In terms of geographical segmentation, the global analytical standards market is currently divided into five key regions. These five regions are North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Of these, currently, the global market is being dominated by the regional segment of North America. Canada and the US are the key segments of the North America region. It is a mature market with great penetration of analytical technologies among the key end users and properly established distribution channels for analytical standards. Easy accessibility to and increasing adoption of advanced analytical technologies because of the considerable per capita annual health care spending by the US and Canadian governments, as well as great backing by the government regulations are some of the key factors that are helping to drive the growth of the North America market.

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5-Point Growth Formula

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The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

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Accurate Trend Analysis

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Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

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COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?