LONDON, July 05, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the analytical standards market, the rise in investment by companies for the development of analytical standards to meet the new environmental guidelines implemented by various environmental regulators is gaining prominence among the analytical standards industry trends. In September 2021, the World Health Organization (WHO) issued updated Global Air Quality Guidelines (AQGs). The 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 guidelines' purpose is to require 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 2021, the US Environmental Protection proposed 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 will expand and reinforce existing emissions reduction requirements for new, modified, and reconstructed oil and natural gas sources and require states to decrease methane emissions from hundreds of thousands of existing sources across the country for the first time.
The global analytical standards market size is expected to grow from $1.39 billion in 2021 to $1.46 billion in 2022 at a compound annual growth rate (CAGR) of 5.3%. The global analytical standards market size is expected to grow to $1.79 billion in 2026 at a CAGR of 5.2%.
The greater regulatory emphasis on effective pollution monitoring and control will support the growth of the analytical standards market during the forecast period. Governments of various countries are implementing standards to mitigate air and water pollution in their countries. For instance, in 2019, the Indian government launched the National Clean Air Programme, which aims to reduce air pollution by at least 20-30% in the next five years. The mission aims to reduce the concentration of coarse (PM10) and fine particles (PM2.5) by at least 20% by 2024. In 2019, the UK government set out an ambitious strategy to clean air and save lives. The Clean Air Strategy aims to reduce the societal cost of air pollution by £1.7 billion ($2.0 billion) per year by 2020, rising to £5.3 billion ($6.5 billion) per year by 2030. Such government regulations have made it mandatory for industries to monitor and control emissions and meet the defined standards, which will support the growth of the analytical standards market.
Major players in the analytical standards market are Merck KGaA, Agilent Technologies, Waters Corporation, LGC Standards, PerkinElmer Inc., Restek Corporation, SPEX CertiPrep, AccuStandard Inc., Thermo Fisher Scientific Inc., and Mallinckrodt.
The global analytical standards market is 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; by end-user into food and beverages standards, forensic standards, veterinary drug standards, petrochemistry standards, environmental, pharmaceutical and life science standards.
North America was the largest region in the analytical standards market in 2021. The regions covered in the analytical standards market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Analytical Standards Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 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.
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