Analytical Standards Market Size, Trends and Insights By Category (Inorganic, Organic), By Technique (Spectroscopy, Chromatography, Titrimetry), By Method (Bioanalytical, Dissolution, Material testing), By Application (Food and beverages, Four and six, Pharmaceutical, Environmental), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Merck KGaA (Germany)
- Agilent Technologies (US)
- Waters Corporation (US)
- Others
Reports Description
According to Custom Market Insights (CMI), The Global Analytical Standards Market presented a growth of USD $1,467.33 million by 2021 to $1,585.88 million in 2022 and is estimated to touch USD $2,200.89 million by the end of 2030 at a compound annual growth rate (CAGR) of approximately 8.8% during the projected period 2022-2030.
The presence of a specific analyte it’s very important for a particular product that contains a mixture of multiple components and this has to be taken care of with the help of analytical standards. The precision with which the various products and materials are manufactured depends upon the standards that are set for the entire manufacturing process by the company.
The various equipment that is utilized in the manufacturing process of a particular material or product is analyzed with the help of such analytical standards to maintain a uniformity of standard and quality which helps to attract potential consumers over the period of time and hence record a considerable revenue in the future.
The methods that are utilized for the manufacturing process are also analyzed with the help of this standard which makes sure that the quality of the products does not deteriorate over the period of time which imposes a major threat to the growth of the standard analytical market. The various rules and regulations that have been imposed by the government on the manufacturing units regarding the standard quality of various products have helped the analytical standards market to record considerable revenue over the period of time as it is the objective of this system to keep a close watch on the maintenance of standard by the companies.
The pandemic outbreak had a considerable impact on the standard analytical market as various manufacturing units got involved in adulteration to earn more profits pertaining to the increasing demand for food products and other consumables. The requirement for advanced analytical standards was felt during the course of the pandemic with a view to keep a close check on the quality of the products that were supplied all over the world which had a direct impact on the health of the individuals.
Growth Factors
The numerous rules and regulations that the manufacturing units need to follow with regard to the quality standards that have to be maintained for each and every product has increased the demand for advanced analytical standard checkpoints that makes sure that uniformity is maintained for every product.
The government is able to keep a close watch on the manufacturing units and hence makes it mandatory for the production units to provide good quality material to potential consumers. The rapid increase in the number of infectious diseases that have been observed all over the world which include HIV and various malignancies has increased the demand for high-quality products which helped to provide maximum protection to potential consumers from various infectious diseases.
The rapid increase in the demand for high-quality pharmaceutical products all over the world pertaining to the new diseases that are emerging has imposed an additional responsibility on the pharmaceutical companies to maintain the quality of the products.
The extensive research and development programs carried out by the key market players with a view to introducing modern technology into the market for increasing the analytical standards for the manufacturing units have helped the market to generate considerable revenue over the period of time which is foreseen to increase during the future as well.
The biopharmaceutical industries which carry out biomarker development and research programs make use of various analytical standards for maintaining uniformity in the test results and hence obtain a high-quality product. Drug manufacturing companies also have to make use of analytical standards with a view to maintaining the quality of the various products produced by them. The huge number of people belonging to the geriatric population has increased the demand for high-quality safe medicines which has boosted the demand for analytical standards in the market.
Analytical standards play a major role in food testing laboratories, including a number of procedures such as chromatography and spectrometry which helps to detect the various alterations involved during the sales and distribution of food products which helps the market to record a considerable revenue over the period of time. It has become extremely important to improve the quality of food that people are consuming in order to develop the immunity system which has been lowered after the occurrence of the pandemic which makes the analytical standards very important for the manufacturing units.
Segmentation of analytical standards on the basis of Category
On the basis of category, the segment organic has emerged as the largest global market pertaining to the increasing demand for organic products among consumers all over the world which is the result of the increasing awareness among the people regarding the various benefits that are obtained from organic products as compared to the other options available in the market.
The need for strengthening the immunity system has helped the segment of organic to record considerable revenue over the period of time and is expected to continue its growth in a similar fashion in the future as well. The huge number of people who are shifting to organic products has attributed majorly to the growth of this particular market.
Segmentation of analytical standards on the basis of Technique
On the basis of technique, the segment of spectroscopy has emerged as the largest global market in comparison to the other segments of chromatography pertaining to the precise results that are obtained with the usage of this particular technique. The increasing demand for advanced technology among potential consumers all over the world has boosted the demand for the spectroscopy method for determining the analytical standards of various products and hence this segment emerged as the key market player among the other competitors.
A Huge number of consumers all over the world are demanding advanced techniques and methods which will help in providing the best quality products and materials to the consumers. The other segment which has been discussed under this category is titrimetry which is progressing slowly pertaining to its uncommon use among the manufacturing units and is expected to show a steady rise in the times to come.
Segmentation of analytical standards on the basis of Method
On the basis of method, the segment of material testing has emerged as the largest market pertaining to the wide usage of this method of analytical standards among most of the manufacturers all over the world which has helped the market to record considerable revenue. On the other hand, the segment of bioanalytical techniques has also emerged as a major market player pertaining to the increasing adoption of modern technology among most the manufacturers all over the world which has helped this segment to grow at a faster rate in comparison to its competitors and is expected to record a considerable revenue over the period of time.
The increasing demand for advanced analytical standard methods among the key market players has boosted the market tremendously. It is expected to grow at a faster rate in the times to come as the demand for high-quality products among potential consumers is increasing day by day. The segment of dissolution has also been discussed under this category which is showing a steady rise over the period of time.
Segmentation of analytical standards on the basis of Application
On the basis of application, the segment of the environment has emerged as the largest market player owing to the increasing awareness among the users regarding the pollutants that are spreading all over the world which need to be controlled with a view to curtailing the rapid climatic change that has been observed. The increasing demand for a cleaner environment among the potential consumers has helped this segment to record considerable revenue over the period of time which is expected to grow in the future as well.
The segment of food and beverages has also recorded considerable revenue over the period of time hotel to the increasing demand for high-quality products among potential consumers. The pharmaceutical sector has also emerged as a strong competitor among the other segments available in the market due to the increasing number of advanced medicines that have been introduced recently by the key market players. A strong quality check is required to assuring the quality of the medicines and drugs that have been launched into the market which helps the analytical standard market to record a considerable revenue over a period of time.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD $1,467.33 million |
| Projected Market Size in 2030 | USD $2,200.89 million |
| CAGR Growth Rate | 8.8% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | Merck KGaA (Germany), Agilent Technologies (US), Waters Corporation (US), LGC Standards (UK), PerkinElmer, Inc. (US), Restek Corporation (US), SPEX CertiPrep (US), AccuStandard Inc. (US), Thermo Fisher Scientific Inc. (US), Mallinckrodt (UK), US Pharmacopeial Convention (US), Cayman Chemical Company (US), RICCA Chemical Company (US), GFS Chemicals Inc. (US), Chiron AS (Norway)., and Others |
| Key Segment | By Category, Technique, Method, Application, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Regional Insights
On the basis of geography, the region of North America has emerged as the largest global market pertaining to the increasing demand for advanced technologies which can be attributed to the rapidly increasing growth of analytical standards all over the world. The existence of the key market players in the region of North America has emerged as another reason for its tremendous growth among all the other competitors in the market.
The region of Asia Pacific has emerged as a fast-growing market pertaining of the huge number of pharmaceutical industries that are situated and the various countries. The various steps which have been taken by the government for the safety of the environment have also boosted the market for analytical standards. The huge number of diseases the top resident in the region of Asia Pacific has helped the market to record a considerable revenue over the period of time.
The food and beverages industry has also shown no reminders growth in the region of Asia Pacific which has helped the market for analytical standards to show considerable growth over the period of time.
Recent developments
- In September 2019 – Paragon Scientific launched in the online segment various materials of premium qualities.
- In September 2020 – an analytical standard was launched in petroleum labs by Bharat Petroleum for the purpose of testing all types of chemicals related to crude oil.
Key Players
- Merck KGaA (Germany)
- Agilent Technologies (US)
- Waters Corporation (US)
- LGC Standards (UK)
- PerkinElmer, Inc. (US)
- Restek Corporation (US)
- SPEX CertiPrep (US)
- AccuStandard, Inc. (US)
- Thermo Fisher Scientific, Inc. (US)
- Mallinckrodt (UK)
- US Pharmacopeial Convention (US)
- Cayman Chemical Company (US)
- RICCA Chemical Company (US)
- GFS Chemicals, Inc. (US)
- Chiron AS (Norway).
Segments covered in the report
By Category
- Inorganic
- Organic
By Technique
- Spectroscopy
- Chromatography
- Titrimetry
By Method
- Bioanalytical
- Dissolution
- Material testing
By Application
- Food and beverages
- Four and six
- Pharmaceutical
- Environmental
On the basis of Geography
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Analytical Standards Market, (2022 – 2030) (USD Million)
- 2.2 Global Analytical Standards Market: snapshot
- Chapter 3. Global Analytical Standards Market – Industry Analysis
- 3.1 Analytical Standards Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 from various infectious diseases
- 3.2.2 high quality safe medicines
- 3.2.3 Various Infectious Diseases
- 3.2.4 High Quality Safe Medicines
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Category
- 3.7.2 Market attractiveness analysis By Technique
- 3.7.3 Market attractiveness analysis By Method
- 3.7.4 Market attractiveness analysis By Application
- Chapter 4. Global Analytical Standards Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Analytical Standards Market: company market share, 2021
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Analytical Standards Market – Category Analysis
- 5.1 Global Analytical Standards Market overview: By Category
- 5.1.1 Global Analytical Standards Market share, By Category, 2021 and 2030
- 5.2 Inorganic
- 5.2.1 Global Analytical Standards Market by Inorganic, 2022 – 2030 (USD Million)
- 5.3 Organic
- 5.3.1 Global Analytical Standards Market by Organic, 2022 – 2030 (USD Million)
- 5.1 Global Analytical Standards Market overview: By Category
- Chapter 6. Global Analytical Standards Market – Technique Analysis
- 6.1 Global Analytical Standards Market overview: By Technique
- 6.1.1 Global Analytical Standards Market share, By Technique, 2021 and 2030
- 6.2 Spectroscopy
- 6.2.1 Global Analytical Standards Market by Spectroscopy, 2022 – 2030 (USD Million)
- 6.3 Chromatography
- 6.3.1 Global Analytical Standards Market by Chromatography, 2022 – 2030 (USD Million)
- 6.4 Titrimetry
- 6.4.1 Global Analytical Standards Market by Titrimetry, 2022 – 2030 (USD Million)
- 6.1 Global Analytical Standards Market overview: By Technique
- Chapter 7. Global Analytical Standards Market – Method Analysis
- 7.1 Global Analytical Standards Market overview: By Method
- 7.1.1 Global Analytical Standards Market share, By Method, 2021 and 2030
- 7.2 Bioanalytical
- 7.2.1 Global Analytical Standards Market by Bioanalytical, 2022 – 2030 (USD Million)
- 7.3 Dissolution
- 7.3.1 Global Analytical Standards Market by Dissolution, 2022 – 2030 (USD Million)
- 7.4 Material testing
- 7.4.1 Global Analytical Standards Market by Material testing, 2022 – 2030 (USD Million)
- 7.1 Global Analytical Standards Market overview: By Method
- Chapter 8. Global Analytical Standards Market – Application Analysis
- 8.1 Global Analytical Standards Market overview: By Application
- 8.1.1 Global Analytical Standards Market share, By Application, 2021 and 2030
- 8.2 Food and Beverages
- 8.2.1 Global Analytical Standards Market by Food and Beverages, 2022 – 2030 (USD Million)
- 8.3 Four and Six
- 8.3.1 Global Analytical Standards Market by Four and Six, 2022 – 2030 (USD Million)
- 8.4 Pharmaceutical
- 8.4.1 Global Analytical Standards Market by Pharmaceutical, 2022 – 2030 (USD Million)
- 8.5 Environmental
- 8.5.1 Global Analytical Standards Market by Environmental, 2022 – 2030 (USD Million)
- 8.1 Global Analytical Standards Market overview: By Application
- Chapter 9. Analytical Standards Industry – Regional Analysis
- 9.1 Global Analytical Standards Industry Regional Overview
- 9.2 Global Analytical Standards Industry Share, by Region, 2021 & 2030 (USD Million)
- 9.3. North America
- 9.3.1 North America Analytical Standards Industry, 2022 – 2030 (USD Million)
- 9.3.1.1 North America Analytical Standards Industry, by Country, 2022 – 2030 (USD Million)
- 9.3.1 North America Analytical Standards Industry, 2022 – 2030 (USD Million)
- 9.4 North America Analytical Standards Industry, by Category, 2022 – 2030
- 9.4.1 North America Analytical Standards Industry, by Category, 2022 – 2030 (USD Million)
- 9.5 North America Analytical Standards Industry, by Technique, 2022 – 2030
- 9.5.1 North America Analytical Standards Industry, by Technique, 2022 – 2030 (USD Million)
- 9.6 North America Analytical Standards Industry, by Method, 2022 – 2030
- 9.6.1 North America Analytical Standards Industry, by Method, 2022 – 2030 (USD Million)
- 9.7 North America Analytical Standards Industry, by Application, 2022 – 2030
- 9.7.1 North America Analytical Standards Industry, by Application, 2022 – 2030 (USD Million)
- 9.8. Europe
- 9.8.1 Europe Analytical Standards Industry, 2022 – 2030 (USD Million)
- 9.8.1.1 Europe Analytical Standards Industry, by Country, 2022 – 2030 (USD Million)
- 9.8.1 Europe Analytical Standards Industry, 2022 – 2030 (USD Million)
- 9.9 Europe Analytical Standards Industry, by Category, 2022 – 2030
- 9.9.1 Europe Analytical Standards Industry, by Category, 2022 – 2030 (USD Million)
- 9.10 Europe Analytical Standards Industry, by Technique, 2022 – 2030
- 9.10.1 Europe Analytical Standards Industry, by Technique, 2022 – 2030 (USD Million)
- 9.11 Europe Analytical Standards Industry, by Method, 2022 – 2030
- 9.11.1 Europe Analytical Standards Industry, by Method, 2022 – 2030 (USD Million)
- 9.12 Europe Analytical Standards Industry, by Application, 2022 – 2030
- 9.12.1 Europe Analytical Standards Industry, by Application, 2022 – 2030 (USD Million)
- 9.13. Asia Pacific
- 9.13.1 Asia Pacific Analytical Standards Industry, 2022 – 2030 (USD Million)
- 9.13.1.1 Asia Pacific Analytical Standards Industry, by Country, 2022 – 2030 (USD Million)
- 9.13.1 Asia Pacific Analytical Standards Industry, 2022 – 2030 (USD Million)
- 9.14 Asia Pacific Analytical Standards Industry, by Category, 2022 – 2030
- 9.14.1 Asia Pacific Analytical Standards Industry, by Category, 2022 – 2030 (USD Million)
- 9.15 Asia Pacific Analytical Standards Industry, by Technique, 2022 – 2030
- 9.15.1 Asia Pacific Analytical Standards Industry, by Technique, 2022 – 2030 (USD Million)
- 9.16 Asia Pacific Analytical Standards Industry, by Method, 2022 – 2030
- 9.16.1 Asia Pacific Analytical Standards Industry, by Method, 2022 – 2030 (USD Million)
- 9.17 Asia Pacific Analytical Standards Industry, by Application, 2022 – 2030
- 9.17.1 Asia Pacific Analytical Standards Industry, by Application, 2022 – 2030 (USD Million)
- 9.18. Latin America
- 9.18.1 Latin America Analytical Standards Industry, 2022 – 2030 (USD Million)
- 9.18.1.1 Latin America Analytical Standards Industry, by Country, 2022 – 2030 (USD Million)
- 9.18.1 Latin America Analytical Standards Industry, 2022 – 2030 (USD Million)
- 9.19 Latin America Analytical Standards Industry, by Category, 2022 – 2030
- 9.19.1 Latin America Analytical Standards Industry, by Category, 2022 – 2030 (USD Million)
- 9.20 Latin America Analytical Standards Industry, by Technique, 2022 – 2030
- 9.20.1 Latin America Analytical Standards Industry, by Technique, 2022 – 2030 (USD Million)
- 9.21 Latin America Analytical Standards Industry, by Method, 2022 – 2030
- 9.21.1 Latin America Analytical Standards Industry, by Method, 2022 – 2030 (USD Million)
- 9.22 Latin America Analytical Standards Industry, by Application, 2022 – 2030
- 9.22.1 Latin America Analytical Standards Industry, by Application, 2022 – 2030 (USD Million)
- 9.23. The Middle-East and Africa
- 9.23.1 The Middle-East and Africa Analytical Standards Industry, 2022 – 2030 (USD Million)
- 9.23.1.1 The Middle-East and Africa Analytical Standards Industry, by Country, 2022 – 2030 (USD Million)
- 9.23.1 The Middle-East and Africa Analytical Standards Industry, 2022 – 2030 (USD Million)
- 9.24 The Middle-East and Africa Analytical Standards Industry, by Category, 2022 – 2030
- 9.24.1 The Middle-East and Africa Analytical Standards Industry, by Category, 2022 – 2030 (USD Million)
- 9.25 The Middle-East and Africa Analytical Standards Industry, by Technique, 2022 – 2030
- 9.25.1 The Middle-East and Africa Analytical Standards Industry, by Technique, 2022 – 2030 (USD Million)
- 9.26 The Middle-East and Africa Analytical Standards Industry, by Method, 2022 – 2030
- 9.26.1 The Middle-East and Africa Analytical Standards Industry, by Method, 2022 – 2030 (USD Million)
- 9.27 The Middle-East and Africa Analytical Standards Industry, by Application, 2022 – 2030
- 9.27.1 The Middle-East and Africa Analytical Standards Industry, by Application, 2022 – 2030 (USD Million)
- Chapter 10. Company Profiles
- 10.1 Merck KGaA (Germany)
- 10.1.1 Overview
- 10.1.2 Financials
- 10.1.3 Product Portfolio
- 10.1.4 Business Strategy
- 10.1.5 Recent Developments
- 10.2 Agilent Technologies (US)
- 10.2.1 Overview
- 10.2.2 Financials
- 10.2.3 Product Portfolio
- 10.2.4 Business Strategy
- 10.2.5 Recent Developments
- 10.3 Waters Corporation (US)
- 10.3.1 Overview
- 10.3.2 Financials
- 10.3.3 Product Portfolio
- 10.3.4 Business Strategy
- 10.3.5 Recent Developments
- 10.4 LGC Standards (UK)
- 10.4.1 Overview
- 10.4.2 Financials
- 10.4.3 Product Portfolio
- 10.4.4 Business Strategy
- 10.4.5 Recent Developments
- 10.5 PerkinElmer Inc. (US)
- 10.5.1 Overview
- 10.5.2 Financials
- 10.5.3 Product Portfolio
- 10.5.4 Business Strategy
- 10.5.5 Recent Developments
- 10.6 Restek Corporation (US)
- 10.6.1 Overview
- 10.6.2 Financials
- 10.6.3 Product Portfolio
- 10.6.4 Business Strategy
- 10.6.5 Recent Developments
- 10.7 SPEX CertiPrep (US)
- 10.7.1 Overview
- 10.7.2 Financials
- 10.7.3 Product Portfolio
- 10.7.4 Business Strategy
- 10.7.5 Recent Developments
- 10.8 AccuStandards Inc. (US)
- 10.8.1 Overview
- 10.8.2 Financials
- 10.8.3 Product Portfolio
- 10.8.4 Business Strategy
- 10.8.5 Recent Developments
- 10.9 Thermo Fisher Scientific Inc. (US)
- 10.9.1 Overview
- 10.9.2 Financials
- 10.9.3 Product Portfolio
- 10.9.4 Business Strategy
- 10.9.5 Recent Developments
- 10.10 Mallinckrodt (UK)
- 10.10.1 Overview
- 10.10.2 Financials
- 10.10.3 Product Portfolio
- 10.10.4 Business Strategy
- 10.10.5 Recent Developments
- 10.11 US Pharmacopeial Convention (US)
- 10.11.1 Overview
- 10.11.2 Financials
- 10.11.3 Product Portfolio
- 10.11.4 Business Strategy
- 10.11.5 Recent Developments
- 10.12 Cayman Chemical Company (US)
- 10.12.1 Overview
- 10.12.2 Financials
- 10.12.3 Product Portfolio
- 10.12.4 Business Strategy
- 10.12.5 Recent Developments
- 10.13 RICCA Chemical Company (US)
- 10.13.1 Overview
- 10.13.2 Financials
- 10.13.3 Product Portfolio
- 10.13.4 Business Strategy
- 10.13.5 Recent Developments
- 10.14 GFS Chemicals Inc. (US)
- 10.14.1 Overview
- 10.14.2 Financials
- 10.14.3 Product Portfolio
- 10.14.4 Business Strategy
- 10.14.5 Recent Developments
- 10.15 Chiron AS (Norway)
- 10.15.1 Overview
- 10.15.2 Financials
- 10.15.3 Product Portfolio
- 10.15.4 Business Strategy
- 10.15.5 Recent Developments
- 10.1 Merck KGaA (Germany)
List Of Figures
Figures No 1 to 30
List Of Tables
Tables No 1 to 102
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
|
|
| Demand-side |
|
|
Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|
|
Key Players
- Merck KGaA (Germany)
- Agilent Technologies (US)
- Waters Corporation (US)
- LGC Standards (UK)
- PerkinElmer, Inc. (US)
- Restek Corporation (US)
- SPEX CertiPrep (US)
- AccuStandard, Inc. (US)
- Thermo Fisher Scientific, Inc. (US)
- Mallinckrodt (UK)
- US Pharmacopeial Convention (US)
- Cayman Chemical Company (US)
- RICCA Chemical Company (US)
- GFS Chemicals, Inc. (US)
- Chiron AS (Norway)
- Others
FAQs
The “North America” region will lead the global Analytical Standards market during the forecast period 2022 to 2030.
The key factor driving the market is high-quality safe medicines.
The key players operating in the Analytical Standards market are Merck KGaA (Germany), Agilent Technologies (US), Waters Corporation (US), LGC Standards (UK), PerkinElmer, Inc. (US), Restek Corporation (US), SPEX CertiPrep (US), AccuStandard Inc. (US), Thermo Fisher Scientific Inc. (US), Mallinckrodt (UK), US Pharmacopeial Convention (US), Cayman Chemical Company (US), RICCA Chemical Company (US), GFS Chemicals Inc. (US), Chiron AS (Norway).
The global Analytical Standards market is expanding growth with a CAGR of approximately 6.1% during the forecast period (2022 to 2030).
The global Analytical Standards market size was valued at USD 1518.6 million in 2021 and it is projected to reach around USD 2284.13 million by 2030.