Analytical standards are the biochemical values and properties of the substances to test if the substance is healthy and usable by health organizations globally. Due to increasing cases of quality deterioration and medicinal side effects they have formulated new standards that are accustomed confirm the occupancy of particular elements in the mixtures, to extend the accuracy of quantitative chemical examination, and to perform tests for various other purposes.
Analytical standards performed are for spectroscopy, chromatography, microscopy, physical and titration properties, environmental, cosmetic, petrochemical, clinical, GMO standards, verified reference materials, electrophoresis, food and beverage, veterinary & forensics. Complete packaging and custom standards services are offered to the end-users as well.
COVID-19 scenario analysis:
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicines supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are short of these drugs. Owing to the demand for vaccine and treatment drugs for COVID-19, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future.
Owing to such factors, COVID 19 is expected to have a significant impact on the Analytical standards market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Increasing public and personal investments spending for various different researches, public universal concerns which are associated with most advantageous food safety and its features, greater substantial regulatory importance on effective pollution monitoring and control, applications growth of analytical methods in metabolomics and proteomics, and growth of pharmaceutical and biotechnology companies all over the world. Additionally, the patent expiration of major biomolecules and other major drugs, growth of latest analytical technique, rising acquisition of analytical procedures in pesticide surveillance, there has been also a significant increase in the number of clinical trials all over the world which are helping boost the Analytical Standards market positively.
In the past few years, there has been a rising focus towards drug safety because ineffective, poor-quality or unsafe medicines can result in therapeutic failure, drug resistance, or even death of a patient. To protect the health of the population and to facilitate international trade, various laws, policies, and regulations are introduced in the pharmaceutical industry. If the pharmaceutical companies fail to obtain regulatory approval it prevents the commercialization of drugs. Also, if a company fails to obey regulations after drug approval, its product can be withdrawn from the market.
The demand for analytical standards is rising significantly which has resulted in a rise in the number of drug development processes and research activities. Analytical standards are always kept in a required standard amount and have high purity levels. This is a major for analytical standards. Therefore, proper storage is essential for a successful deployment. Additionally, the short shelf life of various analytical standards, research laboratories unwilling to purchase large quantities of these compounds, and mostly prefer to purchase on a real-time basis are affecting the growth of the analytical standards market negatively.
New product launches to flourish the market:
On January 4th, 2017, Merck KGaA acquired BioControl Systems, Inc. which is a manufacturer of industrial microbiology testing solutions and it helped Merck to expand its growth opportunities in the food & beverage field.
On August 3rd, 2016, Merck KGaA launched nine certified spiking solutions which included two phosphatidyl ethanol i.e. PEth, five omega-3 fatty acids, and two omega-6 fattyacids.
On June 7th, 2017, Restek Corporation launched the tetrahydrocannabivarin (THCV) standard which is being used to analyze the medical cannabissample.
Surge in usage in pharmaceutical and biotechnological applications:
Pharmaceutical and life sciences segment are the dominating segments across the globe as the number of pharmaceutical & life science R&D spending is increasing and stringent regulation are being implemented for the pharmaceutical industry.
Key benefits of the report:
- This study presents the analytical depiction of the global Analytical standards industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Analytical standards market share.
- The current market is quantitatively analyzed to highlight the global Analytical standards market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global Analytical standards market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Analytical standards Market research report:
- What are the leading market players active in the Analytical standards market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Analytical Standards Market Report Highlights
Key Market Players
Merck KGaA, PerkinElmer, SPEX CertiPrep, GE, Mallinckrodt, Thermo Fisher Scientific, LGC Standards, AccuStandard, Agilent Technologies, Waters Corporation