Merck KGaA (Germany) and LGC Limited (UK) are Leading Players in the Analytical Standards Market
The global analytical standards market is projected to reach USD 2.1 billion by 2028 from USD 1.5 billion in 2023, at a CAGR of 6.9 % from 2023 to 2028. The expanding objective includes technological developments, a rise in the use of biopsy instruments, and a rise in the number of biopsy needles, guidance systems, and localization wires.
The analytical standards market is moderately competitive, with both established companies and upcoming competitors for the same market share. As of 2022, the key player operating in the global analytical standards market are Merck KGaA (Germany), Agilent Technologies (US), Waters Corporation (US), LGC Limited (UK), PerkinElmer, Inc. (US), Restek Corporation (US), SPEX CertiPrep (US), AccuStandard, Inc. (US), Thermo Fischer Scientific, Inc. (US), Mallinckrodt (UK), United States Pharmacopeial Convention (US), Cayman Chemical Company (US), RICCA Chemical Company (US), GFS Chemicals, Inc. (US), and Chiron AS (Norway).
The key strategies adopted by the top players in analytical standards market in the last four years include expansions, product launches, partnerships, acquisitions, and collaborations. In 2022, a major share of the analytical standards market was held by Merck KGaA (Germany), United States Pharmacopeial Convention (US), LGC Limited (UK), and Agilent Technologies (US).
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MERCK KGAA (GERMANY):
Merck KGaA is a leading manufacturer of analytical standards. The company offers analytical standards products for various applications such as pharmaceutical & life sciences, environmental, food & beverage, and petrochemistry. Over the last three years, the company has focused on increasing its product portfolio by expanding its analytical standards business through growth strategies such as distribution agreements and market expansions. For instance, in June 2023, the company invested 70 million euros (USD 76.23 million) to expand its production of highly purified reagents at its Nantong, China site.
LGC LIMITED (UK):
LGC Standards is a division of the LGC Group, a UK-based National Measurement Institute for chemical and bioanalytical measurements. The group is also a prominent provider of laboratory services, measurement standards, reference materials, and genomics and proficiency testing schemes.
The group has sales offices in around 22 countries, including France, Germany, Italy, Poland, Spain, Sweden, China, Russia, the United Arab Emirates, and the UK. Its key subsidiaries are Analytical Reference Materials International Corp (US), Cardiff Bioanalytical Services Limited (UK), Dr Ehrenstorfer GmbH (Germany), LGC Beteiligungs GmbH (Germany), LGC North America Inc. (US), and VHG Labs Inc. (US), among others.
AGILENT TECHNOLOGIES (US):
Agilent Technologies Inc. holds a reasonable share position in the analytical standards market. The company’s strong R&D capabilities and innovative products are significant factors for its share. The company offers analytical standards for various techniques such as chromatography, titrimetry, and spectroscopy. Research laboratories and academic institutes have helped the company maintain its market share. Agilent Technologies focuses on inorganic business growth strategies such as partnerships, collaborations, and market expansions to increase its current share of the analytical standards market.
Related Reports:
Analytical Standards Market by Category (Organic, Inorganic), Technique (GC, MS, LC, IR, NMR, Gravimetry), Method (Bioanalytical, Dissolution, Material Testing), Application (Food, Environmental, Pharmaceutical, Forensics) - Global Forecast to 2028
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