Pune, July 18, 2024 (GLOBE NEWSWIRE) -- Analytical Standards Market Size Analysis:
“According to SNS Insider Research, The Analytical Standards Market size was valued at US$ 1.60 Billion in 2023 and is anticipated to surpass US$ 3.47 Billion by 2032, with a compound annual growth rate (CAGR) of 9.36% over the forecast period 2024-2032.”
They are increasing the global prevalence and incidence of infectious diseases, HIV, cancers, and other diseases, demanding rapid drug and diagnostic product development. The growing worldwide incidence and prevalence of chronic diseases are boosting the need for therapeutic development by major biopharmaceutical companies. As per the July 2021 update by the Centers for Disease Prevention and Control reported that more than 1 in 7 or 15% of adults or 37 million people have chronic kidney disease in the United States. Similarly, according to the GLOBOCAN 2020 report, the total number of people in the world with living cancer is about 28.89 million cases which will increase to 37.47 million cases by 2040. Increased deaths and people affected with chronic diseases and the need for novel drugs or therapeutics increase the use of chromatography, spectroscopy, and titrimetric during drug discovery.
Consequently, the growing burden of diseases, the development of new drugs, and their validations with quality increased and captured the market. A large inclination towards quality testing of products with periodic inspections, certification of analytical procedures, and others will help the market to grow in the due forecast period too. Reliable analytical results are required to make decisions on the quality and safety of pharmaceutical products. These analytical results are also essential in regulatory submissions that support the registration of medicinal products. As a result, if one looks at how the process is ultimately anticipated to be used in a system) must be determined. Manufacturers have been making significant investments in new methods.
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Key Players Analysis Listed in this Report are:
- GFS Chemicals Inc.
- Spex Certiprep (Antylia Scientific)
- Chiron AS6
- Mallinckrodt Pharmaceuticals
- Merck KGaA
- Agilent Technologies Inc.
- Waters Corporation
- Cytiva (Danaher)
- Restek Corporation
- LGC Group
- Other Players
For example, The Thermo Scientific Ramina Process Analyzer provides non-destructive, continuous analysis and sample holders that can be launched in as little as 15 minutes, streamlining the creation of spectral data on key analytes in seconds. This will fuel the growth of the market during the analysis period. The Thermo Scientific Ramina Process Analyzer provides non-destructive, continuous analysis and sample holders that can be launched in as little as 15 minutes, streamlining the creation of spectral data on key analytes in seconds. This will fuel the growth of the market during the analysis period.
Analytical Standards Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 1.60 Billion |
| Market Size by 2032 | US$ 3.47 Billion |
| CAGR | CAGR of 9.36% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
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Segmentation Dynamics
The pharma and life sciences analysis segment accounted for 32% of the revenue share in 2023, leading the analytical standards market. Several of the factors that have driven this accomplishment Pharmaceuticals are only allowed to contain well-understood, traceable levels of impurities and degradation products that should be kept under control by methods measuring these contaminants at the required low concentrations. The life sciences industry continues to evolve, driving an increased need for analytical standards with new drugs and therapeutic methods requiring a wide range of these products supporting investment in research & development. So, these criteria are very important to finding new molecules, and testing them for efficacy (target engagement) and toxicity so that the quality of such drugs remains consistent throughout different stages. Moreover, established players in the pharmaceuticals and life sciences space also control the market primarily owing to their huge war chest. These companies dedicate considerable resources to R&D projects, enabling them to utilize the more sophisticated analytical tools and practices that are necessary for remaining competitive in a fast-paced innovation-cantered space. Recent government reports in Europe and the UK asserted that national regulatory bodies as well away from these agencies including the FDA In the US demand extremely high standards for tests and validations of all drugs, they accentuate the importance of analytical validation to guarantee the arrival safety of an efficient drug.
Analytical Standards Market Key Segmentation:
By Methodology
- Stability Testing
- Bioanalytical Testing
- Dissolution Testing
- Raw Material Testing
- Others
By Technique
- Chromatography
- Spectroscopy
- Titrimetric
- Physical Properties Tests
- Others
By Category
- Inorganic Analytical Standards
- Organic Analytical Standards
By Application
- Food and Beverage Analysis
- Pharmaceutical and Life Science Analysis
- Petrochemical Analysis
- Forensic Standards
- Veterinary Drug Analysis
- Environmental Analysis
- Others
Regional Analysis
In 2023, North America led the analytical standards market with a revenue share of around 44% owing to factors such as stringent regulatory requirements, technological advancements, and presence of key market players. For prescribing safety and quality regulatory bodies such as the FDA, and EPA mandate the use of analytical standards in pharmaceuticals: food and environmental samples. Advances in technology have expanded the role of analytical standards, due to the evolution of high-performance analytical instruments. Furthermore, owing to the existence of sophisticated market players including Agilent Technologies Inc., Merck KGaA, and Waters Corporation in the North American region bolstering towards regional advanced chromatography instruments Market growth based on quality attributes introducing innovative product range catering the consumer preferences.
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Regional Coverage
• North America (US, Canada, Mexico)
• Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe])
• Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific)
• Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East])
• Africa [Nigeria, South Africa, Rest of Africa]
• Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Recent Developments
In June 2023, Agilent Technologies Inc. announced the introduction of two next-generation liquid chromatography-mass spectrometry systems; the Agilent500 D LC/TQ and Agilent Revidst vLC/Q-TOF.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Analytical Standards Market Segmentation, By Methodology
8. Analytical Standards Market Segmentation, By Technique
9. Analytical Standards Market Segmentation, By Category
10. Analytical Standards Market Segmentation, By Application
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Use Case and Best Practices
15. Conclusion
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