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(MoneyNewsWire.Net, February 26, 2018 ) The global analytical standards market is projected to reach USD 1.73 Billion by 2022 from USD 1.27 Billion in 2017, at a CAGR of 6.3%. The stringent regulatory scenario in the pharmaceutical industry, increasing public-private investments for various researches, and rising public concerns related to optimal food safety and quality are the key factors driving the growth of the market.
This report broadly segments the analytical standards market into category, technique, application, and region. On the basis of category, the market is categorized into organic and inorganic standards. In 2016, the organic standards segment accounted for the largest share of the market. It is also expected to register the highest CAGR during the forecast period due to increasing drug development activities & clinical trials.
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On the basis of technique, the market is categorized into chromatography, spectroscopy, titrimetry, and physical properties testing. In 2016, the chromatography technique segment accounted for the largest share of the market. It is also expected to register the highest CAGR during the forecast period due to increasing usage of chromatography in pharmaceutical analysis and presence of a large number of matured and emerging manufacturers.
Based on applications, the healthcare analytical standards market is categorized into six segments, namely, food & beverages, forensic, veterinary, petrochemistry, environmental, and pharmaceutical & life sciences. The environmental application segment accounted for the largest share of the market owing to degradation of environmental quality and generation of solid waste. The pharmaceutical and life sciences segment is expected to register the highest CAGR during the forecast period mainly due to the stringent government regulatory framework and increasing R&D activities in the pharmaceutical industry.
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This report covers the market across four major geographies, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Of the four geographic regions studied in the report, North America commanded the largest share of the market in 2016 owing to the availability of government funding for research and the presence of a large number of market players. However, Asia-Pacific is expected to register the highest growth rate during the forecast period due to increasing outsourcing of clinical trials to APAC countries, rising chromatography-based research, and use of chromatography in the food and environmental industry. Globally, the market growth is expected to be hindered by dearth of well-trained and skilled laboratory technicians across the globe.
The major players in the healthcare analytical standards market are Merck KGaA (Germany), Agilent Technologies Inc. (U.S.), Waters Corporation (U.S.), LGC Standards (U.K.), Restek Corporation (U.S.), Thermo Fischer Scientific (U.S.), General Electric Company (U.S.), PerkinElmer, Inc. (U.S.), Mallinckrodt Baker, Inc. (U.K.), and SPEX CertiPrep (U.S.).
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