In-vitro Toxicology Assays Market Size For Cannabis And Nicotine Testing Worth $2.9 Billion By 2028: Grand View Research, Inc.

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26 Oct, 2021, 09:05 GMT

SAN FRANCISCO, Oct. 26, 2021 /PRNewswire/ -- The global in-vitro toxicology assays market size for cannabis and nicotine testing is expected to reach USD 2.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.2% from 2021 to 2028. Growing adoption of high throughput techniques in cannabis testing, legalization of medical cannabis, and growing awareness regarding the potential hazards of nicotine consumption have majorly driven the market throughout the forecast period.

Key Insights & Findings:

Nicotine testing accounted for the largest revenue in 2020 and is expected to continue the trend in the forecast period owing to increasing safety concerns associated with nicotine products
Cannabis testing is expected to witness gradual growth through 2021-2028 owing to the rising acceptance of cannabis for medical use
3D cell culture technology is expected to grow at substantial CAGR owing to the increasing popularity of drug development and toxicity testing
Cytotoxicity testing designing accounted for the highest market revenue in 2020 owing to advancements in different tools for evaluating the cytotoxic effects of nicotine-containing products
North America has emerged as the highest revenue-generating region in 2020, owing to the prevalence of cancer, presence of key players, and developed healthcare infrastructure
Asia Pacific is anticipated to witness the fastest CAGR throughout the forecast period. It is anticipated that China and India are contributing majorly to the regional market's growth
Key players are undertaking various strategic initiatives such as mergers and acquisitions to maintain their presence in the market
In August 2020, Eurofins Scientific purchased approximately 136 smaller labs within 3 years from 2014 to 2019, accounting for a total expenditure of USD 3.4 billion in these acquisitions.

Read 117 page market research report, "In-vitro Toxicology Assays Market For Cannabis And Nicotine Testing Size, Share & Trends Analysis Report By Test Type, By Technology, By Application (Cytotoxicity Testing, Genetic Toxicity Testing), By Method, By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research

The legalization of medical cannabis is underway globally, including in countries such as Germany, Australia, and Israel. The market is gaining momentum in the Asia Pacific region, with Thailand having fully legalized medicinal cannabis. Thus, increasing legalization of medical cannabis is expected to drive the market growth to a major extend. In addition, technological advancements in cellular assays have boosted the market growth.

COVID-19 has become a catalyst for changing the traditional use of cannabis. Owing to the pandemic, the leading scientific community and market competitors are now focusing on deciphering the potential of cannabis to prevent SARS-CoV-2 infection. Companies have reported the increase in the sale of cannabis as some states/countries have declared cannabis as an essential medicine during the pandemic.

Grand View Research has segmented the global in-vitro toxicology assays market for cannabis and nicotine testing on the basis of test type, technology, application, method, and region:

In-vitro Toxicology Assays Market For Cannabis And Nicotine Testing Type Outlook (Revenue, USD Million, 2017 - 2028)

Cannabis Testing
Nicotine Testing

In-vitro Toxicology Assays Market For Cannabis And Nicotine Testing Technology Outlook (Revenue, USD Million, 2017 - 2028)

3D Cell Culture Technology
Mass Spectrometry
Flow Cytometry
Others

In-vitro Toxicology Assays Market For Cannabis And Nicotine Testing Application Outlook (Revenue, USD Million, 2017 - 2028)

Genetic Toxicity Testing
Carcinogenicity Testing
Cytotoxicity Testing
Mutagenicity Testing
Others

In-vitro Toxicology Assays Market For Cannabis And Nicotine Testing Method Outlook (Revenue, USD Million, 2017 - 2028)

Cellular Assay

Live Cells

High Throughput / High Content Screening
Molecular Imaging
Others

Fixed Cells

Others

In-vitro Toxicology Assays Market For Cannabis And Nicotine Testing Regional Outlook (Revenue, USD Million, 2017 - 2028)

North America

U.S.
Canada

Europe

Germany
U.K.
France
Spain
Italy

Asia Pacific

Japan
China
India
Australia
Singapore

Latin America

Brazil
Mexico
Argentina

Middle East & Africa

South Africa
Saudi Arabia

List of Key Players of In-vitro Toxicology Assays Market For Cannabis And Nicotine Testing

Stemina Biomarker Discovery, Inc.
Broughton Nicotine Services
Labstat International, Inc.
IONTOX
TOXIKON
Integrated Laboratory Systems
Enthalpy Analytical
PBR Laboratories, Inc.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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