Market Study on In Vitro Toxicology Assays Market: Easing of Cannabis Consumption Regulations to bring New Turn to Demand
New York, Jan. 30, 2023 (GLOBE NEWSWIRE) — The In-vitro Toxicology Assays Market revenue is estimated at US$ 1.6 Billion in 2022 and are anticipated to grow at a CAGR of 8.3% from 2022-2032, according to a recently published Persistence Market Research report. By the end of 2032, the market is expected to reach a valuation of US$ 6.1 Billion.
U.S. represented the highest revenue grossing In-vitro Toxicology Assays Market market accounting for nearly US$ 3 Billion valuations by 2032. The assortment of industries within the country is due in part to a large number of competing companies. In addition, the legalization of cannabis and nicotine for medical and recreational purposes contributes to the large market. High healthcare expenditure, well-established healthcare infrastructure, and stringent FDA and Health Canada rules are some of the variables that will contribute to the region’s dominance throughout the projected period.
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The existence of research institutes and programs funded by Health Canada is likely to modestly boost the industry. The dominance of North America is due to the region’s higher rates of cancer, chronic renal disease, and gastrointestinal diseases. Furthermore, there has been a rise in women’s health awareness as well as an increase in the prevalence to use nicotine testing.
In-vitro Toxicology Assays Market Competitive Landscape
Over the projected period, rising emphasis on innovations and investments among public and private entities is expected to strengthen competition in In-vitro Toxicology Assays Market. In addition, product commercialization and partnership tactics are expected to be profitable in the upcoming years.
The key vendors in the global In-vitro Toxicology Assays market are
- STEMINA BIOMARKER DISCOVERY, INC.
- BROUGHTON NICOTINE SERVICES
- LABSTAT INTERNATIONAL, INC.
- IONTOX
- TOXIKON
- INTEGRATED LABORATORY SYSTEMS
- ENTHALPY ANALYTICAL
- PBR LABORATORIES, INC. among others.
Some of the recent development in the In-vitro Toxicology Assays market are:
- In July 2021, IONTOX announced cooperation with cbdMD, Inc. to find new cannabinoids for medicinal purposes. With cbdMD Therapeutics, IONTOX is anticipated to conduct the necessary toxicological investigations.
- Eurofins Scientific bought around 136 smaller labs during a three-year period from 2014 to 2019, for a total investment of USD 3.4 billion in these purchases.
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More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the In-vitro Toxicology Assays market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
In-vitro Toxicology Assays Market Segmentations-
The study reveals essential insights
- n-vitro Toxicology Assays Market on the basis of Method (Cellular Assay- Live Cells, Fixed Cells, and Other Methods), Test (Cannabis Testing and Nicotine Testing),
- In-vitro Toxicology Assays Market on Technology (3D Cell Culture Technology, Mass Spectrometry, Flow Cytometry, and Other Technologies),
- In-vitro Toxicology Assays Market By Application (Genetic Toxicity Testing, Carcinogenicity Testing, Cytotoxicity Testing, Mutagenicity Testing, and Other Applications)
- In-vitro Toxicology Assays Market By across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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