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According to The Business Research Company’s research report on the analytical standards market, analytical standards companies are investing in the development of analytical standards to meet the new environmental guidelines implemented by various environmental regulators. In September 2023, the World Health Organization (WHO) has issued updated Global Air Quality Guidelines (AQGs). WHO significantly reduced the recommended levels of pollutants that can be considered safe for human health under these guidelines. This is the first WHO update since 2005. The guideline’s purpose is for all countries to meet acceptable air quality levels. The guidelines propose new air quality standards to protect people’s health by lowering levels of important air pollutants, some of which also contribute to climate change. The WHO’s new guidelines recommend air quality standards for six pollutants where knowledge on health impacts from exposure has improved the most. Particulate matter (PM 2.5 and 10), ozone (O3), nitrogen dioxide (NO2), sulphur dioxide (SO2), and carbon monoxide (CO) are the six traditional contaminants. In November 2023, US Environmental Protection Agency took an important step toward combating climate change and preserving public health by proposing a rule that would significantly cut methane and other harmful air pollutants from both new and current sources in the oil and natural gas industry. The plan would expand and reinforce existing emissions reduction requirements for new, modified, and reconstructed oil and natural gas sources, as well as require states to decrease methane emissions from hundreds of thousands of existing sources across the country for the first time.
The analytical standards market is segmented by end users into food and beverages standards, forensic standards, veterinary drug standards, petrochemistry standards, environmental, pharmaceutical and life science standards and others. The environmental segment was the largest segment of the analytical standards market segmented by end users, accounting for 29.8% of the total in 2020. Going forward, the environmental segment is expected to be the fastest growing segment in the analytical standards market segmented by end users, at a CAGR of 6.2% during 2020-2025. The market is also segmented by type into organic standards, inorganic standards, by technique into chromatography, spectroscopy, titrimetry, physical property testing, by methodology into bioanalytical testing, stability testing, raw material testing, dissolution testing, others, by application into microbiology testing, physical properties testing, toxicity testing, contamination testing, qa/qc testing, proficiency testing, stability testing, others.
The Business Research Company’s report titled Analytical Standards Global Market Report 2023 – By Type (Organic Standards, Inorganic Standards), By Technique (Chromatography, Spectroscopy, Titrimetry, Physical Property Testing), By Methodology (Bioanalytical Testing, Stability Testing, Raw material Testing, Dissolution Testing), By Application (Microbiology Testing, Physical Properties Testing, Toxicity Testing, Contamination Testing, QA/QC Testing, Proficiency Testing, Stability Testing), By End User (Food And Beverages Standards, Forensic Standards, Veterinary Drug Standards, Petrochemistry Standards, Environmental, Pharmaceutical And Life Science Standards), COVID-19 Growth And Change covers major analytical standards companies, analytical standards market share by company, analytical standards manufacturers, analytical standards market size, and analytical standards market forecasts. The report also covers the global analytical standards market and its segments.
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The global analytical standards market size is expected to grow from $1.34 billion in 2020 to $1.52 billion in 2023 at a compound annual growth rate (CAGR) of 11.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.98 billion in 2025 at a CAGR of 6.75%.
The analytical standards market is highly consolidated with a small number of global players dominating the market. The key players in the market are focusing on expanding their operational and business presence in the analytical standards market through development by opening new research facilities, expanding its product portfolio by new product launch to meet the global demand. The top ten competitors in the market made up to 68.60% of the total market in 2020.
North America was the largest region in the analytical standards market, accounting for 33.2% of the total in 2020. It was followed by the Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the analytical standards market will be Eastern Europe and Asia Pacific where growth will be at CAGRs of 6.87% and 5.94% respectively during 2020-2025. These will be followed by North America and Western Europe, where the markets are expected to register CAGRs of 5.52% and 4.85% respectively during 2020-2025.
Analytical Standards Global Market Report 2023 – COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provide analytical standards market overviews, analytical standards market analyze and forecast market size and growth for the whole market, analytical standards market segments and geographies, analytical standards market trends, analytical standards market drivers, analytical standards market restraints, analytical standards market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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