Analytical Standards Market To Witness A Significant Growth Of USD 2.08 Billion By 2030

 San Francisco, 28 May 2024: The Report Analytical Standards Market Size, Share & Trends Analysis Report By Category (Organic Analytical Standards, In-organic Analytical Standards), By Technique, By Application, By Methodology, By Region, And Segment Forecasts, 2024 - 2030

The global analytical standards market size is anticipated to reach USD 2.08 billion by 2030 and is expected to grow at a CAGR of 6.57% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth is attributed to the growing technological advancement and increased demand for reliability and precision in various fields such as pharmaceuticals, food safety, and environmental monitoring. Moreover, the growing number of accredited clinical laboratories globally is expected to drive market growth. With the increasing prevalence of diseases such as diabetes, cardiovascular diseases (CVDs), and infectious diseases, the demand for analytical standards in diagnostic laboratories has seen significant growth.

The major factors driving the market growth are strict quality regulations for drug manufacturers, which has resulted in a massive demand for analytical standards around the world. The rapid increase in the global prevalence of infectious diseases, HIV, cancers, and other diseases has propelled the development of new drugs and diagnostics.The increasing global incidence and prevalence of chronic diseases are fueling demand within the major biopharmaceutical sector for drug development. According to CDC, as of July 2022, the prevalence of chronic kidney disease (CKD) in the U.S. stood at 15%, affecting approximately 37 million adults, or more than 1 in 7 individuals. In addition, according to the GLOBOCAN 2020 report, a surge in cancer cases worldwide, with an estimated 28.89 million cases is projected by 2040. This growing population affected by chronic conditions, coupled with the growing demand for innovative pharmaceuticals, underscores the need for advanced techniques such as chromatography, spectroscopy, and titrimetry in the drug discovery process.

Increasing healthcare expenditure has been driving the market growth. Consequently, pharmaceutical firms are focusing on exploring new therapies that necessitate analytical testing throughout their developmental stages. This strategic shift is anticipated to favourably impact sales of pharmaceutical testing services, thereby stimulating market growth. Consequently, these factors are expected to contribute to market growth over the forecast period significantly.

Furthermore, analytical standards are gaining increasing importance across various clinical fields for diagnosis and monitoring of various diseases. The rise in availability of novel solutions is one of the major drivers anticipated to boost the analytical standards market growth in the near future. For instance, in June 2023, Bruker Corporation announced the launch of timsTOF Ultra Mass Spectrometer with Transformative Sensitivity, VistaScan for Enhanced dia-PASEF 4D-Proteomics, and 300 Hz PASEF MS/MS. Moreover, in August 2023, Thermo Fisher Scientific Inc. announced the commercial launch of EXENT Solution intended for the diagnosis of the monitoring of Waldenström’s macroglobulinemia patients and multiple myeloma and monoclonal gammopathies.

Access Research Report of Analytical Standards Market @ https://www.grandviewresearch.com/industry-analysis/analytical-standards-market-report

Analytical Standards Market Report Highlights

• Based on category, the organic analytical standards segment led the market with the largest revenue share of 56.49% in 2023 and is anticipated to grow at fastest CAGR over the forecast period, owing to the rising understanding regarding physical and chemical stability of drug products
• Based on technique, the spectroscopy segment led the market with the largest revenue share of 44.27% in 2023, attributed to the widespread use of spectroscopy techniques across various applications
• Based on application, the pharmaceutical and life science analysis segment led the market with the largest revenue share of 22.72% in 2023 and is anticipated to grow at fastest CAGR over the forecast period, owing to rising stringent regulations for drug manufacturers
• Based on methodology, the bioanalytical testing segment led the market with the largest revenue share of 33.08% in 2023, with a rising focus on drug discovery and development
• North America dominated the analytical standards market owing to factors such as the presence of major key players, favorable government initiatives for the development of innovative drugs, and high affordability of solutions

Analytical Standards Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 1.42 billion
Revenue forecast in 2030	USD 2.08 billion
Growth rate	CAGR of 6.57% from 2024 to 2030
Base year for estimation	2023
Historical data	2018 - 2022
Forecast period	2024 - 2030

List of Key Players in the Analytical Standards Market

• Merck KGaA
• Waters Corporation
• Agilent Technologies, Inc.
• Shimadzu Corporation
• PerkinElmer Inc.
• LGC Limited
• Restek Corporation.
• AccuStandard
• Cayman Chemical
• RICCA Chemical Company

Access Press Release of Analytical Standards Market @ https://www.grandviewresearch.com/press-release/global-analytical-standards-market