Global Analytical Standards Market: Snapshot
The global market for analytical standards is growing at a high pace and is predicted to witness a strong growth over the next few years. The rising focus of the key players on the research and developments activities is projected to support the development of the market in the near future. Thanks to the growth prospects, the global market for analytical standards is predicted to register a healthy growth rate in the coming few years.
Advent of New Analytics Methods to Propel Global Analytical Standards Market
The rising number of applications of analytical techniques in metabolomics and proteomics and the rising adoption of analytical techniques in pesticide monitoring are the key factors that are projected to ensure market growth in the coming few years. The strict regulatory environment in the pharmaceutical sector and the increasing private-public investments for several types of research are predicted to ensure the market growth in the near future. Moreover, the increasing public concerns associated with the optimal food quality and safety is further expected to accelerate the growth of the analytical standards market in the coming few years.
On the other hand, the lack of skilled laboratory technicians and the lack of full spectrum of analytical standards are likely to restrict market growth in the coming few years. Also, the low awareness among people concerning the effective pollution monitoring strategies, especially in emerging economies are estimated to curb the development of the market in the coming years. Nonetheless, the rise in the development of the new analytics methods and the rising number of clinical trials are predicted to offer growth opportunities for the players in the near future.
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North America to Experience High Growth in Coming Years
The global market for analytical standards has been categorized on the basis of geography into five segments, among which the North America market is predicted to hold a huge share of the market in the coming few years. This region is likely to exhibit a healthy 6.10% CAGR between 2017 and 2022, according to the research study by TMR. Europe is projected to remain at the second position and is predicted to witness a healthy growth in the near future. The Asia Pacific market is likely to experience a positive growth over the next few years, thanks to the high growth of the life sciences sector. The key players in the market are likely to focus on emerging nations, which are projected to offer potential opportunities. The Middle East and Africa is projected to experience a healthy growth in the coming few years.
The global market for analytical standards is considered as competitive in nature and is likely to grow at a fast pace over the next few years. The entry of several new players and the rising investments by the leading players are projected to ensure the growth of the market in the near future. This is further projected to enhance the competitive landscape of the overall market in the next few years. In addition to this, the rising emphasis of the players on the strategic collaborations and mergers are estimated to support the development of the analytical standards market in the near future. Some of the leading companies operating in the analytical standards market across the globe are LGC Standards, Mallinckrodt Pharmaceuticals, Chiron AS, Perkinelmer Inc., GE, GFS Chemicals Inc., Agilent Technologies Inc., Cayman Chemical Co., Accustandard Inc., and Merck KGaA.