The global analytical standards market is projected to reach USD 1.73 Billion by 2022 from USD 1.27 Billion in 2017, at a CAGR of 6.3%.
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Development of new analytical methods
There is a significant need for the development of new analytical methods for the quality evaluation of new drugs. Continuous new drug development, rising stringency of regulations, and growing concerns over food safety and environment protection have resulted in the evolution of new analytical methods, some of which have been mentioned below:
In 2013, the Institute of Food Chemistry (Germany) developed a sensitive high-performance liquid chromatography-tandem mass spectrometry method for the detection of horse meat and pork in halal beef.
In 2005, the Department of Environmental Sciences (Israel) developed an analytical method for the determination of levoglucosan, polyhydroxy compounds, and 2-methylerythritol in smoke and rainwater samples.
In November 2015, the International Organization for Standardization (Switzerland) developed an analytical method for the micronutrient testing of infant formula. In line with this project, eight new international standards specifying methods for testing vitamins and other micronutrients in infant formula were developed to ensure that their nutrient content conforms to their declaration.
The Dairy Science and Food Technology (China) developed a liquid chromatography method for the simultaneous and sensitive quantification of lactose and lactulose in milk in 2010. This presents itself as an opportunity for the analytical standards market.
Dearth of well-trained and skilled laboratory technicians
Sophisticated analytical instruments cost a fortune and therefore require careful handling and care to ensure consistency of results and low maintenance costs. In addition to smooth operation, it is equally important that such instruments do not pose safety hazards to the operator and other personnel in a laboratory. With various technological advancements in mass spectrometers and chromatography instruments, the need for skilled professionals who can effectively operate these equipment has increased. Proper usage of this equipment requires expertise with relevant experience and knowledge of such analytical technologies.
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The extent of analyses required for the establishment of Chemical Reference Substances depends on the purpose(s) for which it is employed. Generally, the standards are made in a solution with the same composition as the extractant used for the samples (with the same dilution factor) so that all measurements are done in the same matrix. In addition, the sample preparation method for analysis is highly complex and requires greater analyst expertise. Thus, proper selection and preparation of analytical standards at the time of investigations is very important to ensure accuracy and reproducibility in the analysis. However, lack of knowledge regarding the right choice of technique and analytical standards incurs several direct and indirect expenses. This shows that there is a need for highly skilled personnel in the analytical industry for method development, validation, operation, and troubleshooting activities.
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