Certified Reference Materials Market Overview
The Global Certified Reference Materials (CRMs) Market is expected to grow at a CAGR of 6.8% during the forecast period (2024-2031).
Market Summary
| Metrics | Details |
| Market CAGR | 6.8% |
| Segments Covered | By Type, By Application, By End-User and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Certified Reference Materials (CRMs) are standards used to check the quality and metrological traceability of products, validate analytical measurement methods, or calibrate instruments.
Certified reference material is a particular form of measurement standard.
Reference materials are essential for analytical chemistry and clinical analysis. Since most analytical instrumentation is comparative, it requires a sample of known composition (reference material) for accurate calibration.
These reference materials are produced under stringent manufacturing procedures and differ from laboratory reagents in their certification and the traceability of the data provided.
Universities and scientific researches centres are some of the major end-users of analytical standards. As the COVID-19 pandemic resulted in the temporary closure of several research institutes globally, this end-user segment has been affected drastically over the last few months. Major market players such as Merck KGAA, PerkinElmer, and Agilent have experienced significant losses in their analytical instruments’ (including analytical standards) segmental revenue (over 10% dip in the sales revenue of analytical business units) in the first quarter of 2020 due to short-term negative growth of major end-users and business offset globally.
Environmental analysis is the largest application segment of the Certified Reference Materials market. The environmental analysis segment is expected to dominate the overall CRMs market during the forecast period. This segment's large share is majorly attributed to the rising emissions of pollutants, regulatory mandates related to the environment, raising awareness of the importance of a clean environment, environmental quality degradation, and solid waste generation.
North America is expected to grow at a significant CAGR over the global CRMs Market forecast period. North America is a mature market, with high analytical technologies among major end-users such as food testing labs, environmental pollution monitoring laboratories, drug testing laboratories, and forensic laboratories.
Besides, the United States has well-established distribution channels for analytical standards product manufacturers and suppliers.
Easy accessibility to and the high adoption of advanced analytical technologies due to the significant per capita annual healthcare expenditure by the US and Canadian governments and supportive government regulations drive the growth of the CRMs market in this region.
The Joint Research Centre (JRC) is a major developer and producer of reference materials globally. It currently provides over 760 reference materials and distributes around 20,000 units per year to testing laboratories worldwide. The JRC's selection of reference materials is tailored to meet European policy needs, particularly in emerging areas such as nanotechnology, biotechnology, and personalized medicine.
The JRC has laboratories and processing facilities to develop and produce reference materials unique in the world. At the JRC laboratories in Geel, Belgium, the JRC's reference material production building features a pilot plant for material processing that comprises several unique features, such as the possibility for parallel material handling thanks to movable walls and separate air-handling systems for the main processing hall.
On December 07, 2020, The Joint Research Centre (JRC) released two new reference materials EURM-017 and EURM-018, containing natural antibodies against SARS-CoV-2 in a human serum background. They can be used as quality control materials for various SARS-CoV-2 antibody tests. The results of SARS-CoV-2 antibody tests (or serological tests) can tell whether a person was previously infected with SARS-CoV-2and provide information about potential protection against new infection.
In September 2020, Bharat Petroleum Corporation Ltd (BPCL) had launched India’s first certified reference material for testing chemical components of crude oils. 'Bhartiya Nirdeshak Dravya,' the first batch of the certified reference material, is approved by the National Physical Laboratory, New Delhi, under the Union science and technology ministry. The reference material has traceability to the international system of units and is being produced at BPCL's Sewree Laboratory in Mumbai, the company said in a statement.
