Analytical Standards Market by Category (Organic, Inorganic), Technique (GC, MS, LC, IR, NMR, Gravimetry), Method (Bioanalytical, Dissolution, Material Testing), Application (Food, Environmental, Pharmaceutical, Forensics) - Global Forecast to 2025", size is estimated to be USD 1.3 billion in 2020 and projected to reach USD 1.7 billion by 2025, at a CAGR of 6.3%. The rising public concerns related to optimal food safety & quality and growing applications of analytical techniques in proteomics & metabolomics are the key factors driving the growth of the analytical standards industry.
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Key Market Players
The analytical standards market includes major Tier I and II suppliers like Merck KGaA (Germany), Agilent Technologies (US), Waters Corporation (US), LGC Standards (UK), and PerkinElmer, Inc. (US). Other major market players in the analytical standards market include 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), and Chiron AS (Norway), among others.
Drivers: Rising public concerns related to optimal food safety & quality
Food contamination is a major concern, globally. The consumption of unsafe & adulterated food can cause foodborne infections, mercury poisoning, allergic reactions, and food intoxication. For instance, ~1.7 billion cases of childhood diarrhoea disease occur every year across the globe (Source: World Health Organization 2020). In addition, 600 million people fall sick due to the consumption of contaminated food, of which ~420,000 die of foodborne diseases per year (Source: Centres for Disease Control and Prevention, January 2020).
Techniques such as mass spectrometry, chromatography, and other analytical techniques are extensively used by food testing laboratories to check for adulteration and ensure food safety. Chromatography and spectroscopy are the most commonly applied analytical techniques in quality testing and quality control of food. Liquid chromatography/mass spectrometry/mass spectrometry (LC/MS/MS) and gas chromatography/mass spectrometry (GC/MS) techniques are gaining recognition as highly specific and extremely sensitive techniques testing food products with high accuracy. Moreover, research institutes collaborate with key market players to use their advanced product offerings to ensure food safety. Additionally, the government implements strict regulations to ensure food safety in the respective countries. For instance, in July 2017, Food Standards Australia New Zealand (FSANZ) implemented strict limitations on the amount of arsenic content in rice (one milligram per kilogram). With growing concerns over food contamination and food adulteration, food safety has been prioritized by concerned authorities, thus driving the growth of the analytical testing market.
Restraint: Limited public awareness related to effective pollution monitoring strategies
The increasing pollution levels lead to various respiratory infections, respiratory diseases, allergic reactions, and cancer. Environmental degradation also results in serious environmental changes such as reduced crop yields, changes in weather patterns, and the greenhouse effect. Carbon dioxide is considered a potentially inhaled toxicant that may lead to acidosis, CNS depression, coma, convulsions, or even death. Similarly, high sulfur dioxides levels can affect lung functioning, worsen asthma attacks, and aggravate existing heart disease in sensitive groups.
Governments in various regions are taking initiatives to improve air quality. These initiatives focus on promoting public transport, walking, and cycling; promoting power plants that use clean and renewable fuels; and improving the energy efficiency of homes, commercial buildings, and manufacturing facilities. However, there is limited awareness about governments & initiatives and the impact of air and water pollution on health. This is expected to affect the adoption of pollution monitoring tests, which are performed using analytical techniques such as liquid chromatography, gas chromatography, and IR/UV spectrometry.
Opportunities: Improving healthcare infrastructure across emerging countries
Emerging markets are expected to offer significant growth opportunities to clinical microbiology product manufacturers and distributors during the forecast period. This can be attributed to the growing prevalence of infectious diseases such as HIV, tuberculosis, influenza, and malaria as well as increasing R&D initiatives to develop innovative genomic techniques for efficient disease diagnosis in developing nations.
The growth in these markets is further supported by improvements in healthcare infrastructure, growing healthcare expenditure, and increasing availability and affordability of low-cost clinical microbiology products. In line with the ongoing trend, several government initiatives have been undertaken across emerging markets (particularly in China and India) to strengthen and expand the healthcare infrastructure.
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Increasing importance of chromatography tests in drug approvals result in the segment occupying a high share of the analytical standards market
The chromatography technique segment owns a good market share In the analytical standards market. The large share of this segment is attributed to factors such as increasing usage of chromatography in the pharmaceutical analysis (especially HPLC) and the presence of a large number of matured and emerging suppliers that provide a broad range of chromatographic standards across the globe.
Pharmaceutical & life sciences analytical standards estimated to be the growing market
The pharmaceutical & life sciences analytical standards market is expected to witness sustained demand during the forecast period, owing to the increasing drug development in developed countries, increasing use of certified reference materials (CRMs) to ensure the quality of pharmaceuticals, increasing awareness, regulations on cosmetic products, and the rising popularity of traditional medicines. However, the high cost of pharma & life science analytical standards is expected to affect the sales of these analytical standards overall.
Asia Pacific likely to emerge as the fastest-growing analytical standards market, globally.
Geographically, the emerging Asian countries, such as China, India, South Korea, Taiwan, and Singapore, are offering high-growth opportunities for market players. The Asia Pacific analytical standards market is projected to grow at the highest CAGR from 2020 to 2025. strategic expansions of analytical instrument market players in the region, increasing focus on soil testing, food security concerns in India, an increasing number of bioclusters, high use of analytical technologies in Japan, and the growing biotechnology, biomedical, and pharmaceutical industries in China are driving the growth of the APAC analytical standards market.
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Recent 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
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