Report ID: SQMIG20Q2007
Report ID:
SQMIG20Q2007 |
Region:
Global |
Published Date: February, 2024
Pages:
265
|
Tables:
124 |
Figures:
77
North America accounted for a largest market share owing to presence of a large number of key players, higher affordability, and supportive government initiatives to create novel drugs. An increasing prevalence of communicable diseases results in the need to produce high-quality medicines and other goods with improved safety measures in a shorter amount of time. As a result, the need for analytical standards for novel molecules in development increases.
Additionally, it is predicted that the number of diagnostic centres and the increased adoption rate of advanced infrastructure by analytical testing companies will boost the market in the region. The growing prevalence of variety of diseases, the rise in clinical trials, the rising cost of healthcare, the increase in funding for drug development and research, and the emphasis on analytical testing of biologics and biosimilars are all factors contributing to the Canadian market growth.
Asia Pacific is expected to grow at a high CAGR during the forecast period. This can be attributed to the expanding pharmaceutical industry, supportive government programmes, and environmental safety concerns. The demand for analytical standards in the food and beverage industry is being driven by rising rates of foodborne infection in Asian nations. Asia Pacific's untapped healthcare potential, the growth of life sciences, and the region's biotech infrastructure all present promising prospects for the market for analytical standards. Additionally, Asian nations exhibit a demand for analytical standards in the food and beverage industries due to the massive growth of infections.
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REQUEST FREE CUSTOMIZATIONAnalytical Standards Market size was valued at USD 1.34 billion in 2019 and is poised to grow from USD 1.44 billion in 2023 to USD 2.56 billion by 2031, growing at a CAGR of 7.7% in the forecast period (2024-2031).
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Report ID: SQMIG20Q2007