Analytical Standards Market by Category (Organic, Inorganic), Technique (Chromatography, Spectroscopy, Titrimetry, Physical properties), Application (Food & Beverage, Environmental, Pharmaceutical, Cosmetic, Veterinary, Forensic) - Global Forecasts to 2022
The global analytical standards market is estimated to grow at a CAGR of 6.5% from 2015 to 2020 and will be valued at USD 1.56 billion in 2020. North America and Europe held larger shares in the analytical standards market in 2015, the Asia-Pacific region is poised to grow at the highest CAGR in the next five years. Factors such as increasing life science research funding, development of bioclusters in various countries, increasing outsourcing of clinical trials from developed nations to APAC countries, are propelling its growth in the region.
The growth of the analytical standards market is primarily driven by factors such as stringent regulatory environment in the pharmaceutical industry and growing food safety concerns across the globe. However, factors such as high cost of analytical instruments and standards and lack of skilled professionals are restraining the growth of the market.
The global analytical standards market has been segmented on the basis of technique (chromatography, spectroscopy, titrimetry and physical property testing), application (food & beverage, environmental, pharmaceutical and life sciences, forensic, veterinary and petrochemistry), and region (North America, Europe, Asia-Pacific and Rest of the World).
The chromatography standards market is estimated to account for the largest share of the global analytical standards market in 2015 and also estimated to grow at the highest CAGR during the forecast period, followed by the spectroscopy market. Growing food safety concerns, increasing importance of chromatography tests in drug approvals, are the key factors driving the segment.
Geographically, North America commands the largest share of the global analytical standards market in 2015, followed by Europe. The analytical standards market in North America is primarily driven by various factors including availability of huge government research funding, the large of number of ongoing clinical trials.
As of 2014, the global analytical standards market was dominated by Sigma-Aldrich (U.S.), Merck KGaA (Germany), LGC Limited (U.K.), Agilent Technologies Inc. (U.S.), Waters Corporation (U.S.), and Restek Corporation (U.S.), which together accounted for more than 50% of the market. New product launches, partnerships, agreements, and collaborations are strategies adopted by the market players to achieve growth in the analytical standards market.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis —industry analysis, market share analysis of top ten players, and in detail company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the analytical standards market, high-growth regions and countries and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering a greater market share. Firms purchasing the report could use any one or combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information of analytical standards offered by the top 10 players in the analytical standards market. The report analyzes the analytical standards market by type of product, technology, and application across geographies
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the analytical standards market
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various ablation devices across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the analytical standards market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of leading players in the analytical standards market