Chicago, Nov. 27, 2023 (GLOBE NEWSWIRE) -- Analytical Standards Market in terms of revenue was estimated to be worth $1.5 billion in 2023 and is poised to reach $2.1 billion by 2028, growing at a CAGR of 6.9% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The growth of the market is largely driven by the global rise in the adoption of analytical techniques in pesticide monitoring and the increasing applications of analytical techniques in proteomics & metabolomics. Furthermore, greater regulatory emphasis on effective pollution monitoring & control across the globe is anticipated to further propel market growth.
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Analytical Standards Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $1.5 billion |
| Estimated Value by 2028 | $2.1 billion |
| Growth Rate | Poised to grow at a CAGR of 6.9% |
| Market Size Available for | 2021–2028 |
| Forecast Period | 2023–2028 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technique, Application, Methodology, Category and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Improving healthcare infrastructure across emerging countries |
| Key Market Driver | Rising public concerns related to optimal food safety & quality |
Based on the technique, analytical standards is segmented into chromatography, spectroscopy, titrimetry, and physical properties testing. During the forecast period, spectroscopy is expected to dominate the analytical standards market. The growth of spectroscopy segment will be driven by increasing drug development R&D along with widespread use of spectroscopic techniques across a broad range of application areas.
Based on application, analytical standards is segmented into food & beverages standards, forensic standards, veterinary drug standards, environmental standards, petrochemistry standards and pharmaceutical & life science standards. During the forecast period, pharmaceutical & life science standards is expected to dominate the analytical standards market. The growth is attributed to increasing drug development in developed countries, increasing awareness, and the rising popularity of traditional medicines.
Based on methodology, the analytical standards market is segmented into raw material testing, bioanalytical testing, stability testing, dissolution testing, and other methodologies. During the forecast period, the raw material testing segment is estimated to hold the largest market share during the forecast period. The rising disease prevalence and increasing commercialization of parenteral drugs are the major drivers for growth.
Based on category, the analytical standards market is segmented into organic analytical standards and inorganic analytical standards. During the forecast period, organic analytical standards is expected to account for the largest market share in the analytical standards market. The large share of this segment is attributed to the rising public-private investment for various research, strong regulatory emphasis on effective pollution monitoring & control, and increasing drug development & clinical trials.
The analytical standards market covers five key geographies—North America, Europe, Asia Pacific, Latin America, and the Middle East. The market in the Asia Pacific region is expected to offer significant opportunities for the growth of the analytical standards market in 2022. The growth of the market can be attributed to the rising outsourcing of clinical trials from developed to emerging Asian nations, strategic expansions of analytical instrument market players in the region, and increasing investments by governments in the biotechnology industry.
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Analytical Standards market major players covered in the report, such as:
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This report categorizes the Analytical Standards market based on type, formulation, application, and region:
Global Analytical Standards Market, by Technique
Global Analytical standards Market, by Application
Global Analytical standards Market, by Methodology
Global Analytical standards Market, by Category
Global Analytical standards Market, by Region
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Recent Developments
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