The global In-vitro Toxicology Assays market size is expected to be worth around US$ 4.9 billion by 2030, according to a new report by Vision Research Reports.
The global In-vitro Toxicology Assays market size was valued at US$ 1,436.1 million in 2020 and is anticipated to grow at a CAGR of 12.2% during forecast period 2021 to 2030.
Get Sample Copy of This Report (Including TOC, List of Tables & Figures, and Chart)@ https://www.visionresearchreports.com/report/sample/38684
Report Coverage
| Report Scope | Details |
| Market Size | USD 4.9 billion by 2030 |
| Growth Rate | CAGR of 12.2% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Test type, Technology,Application, Method |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Stemina Biomarker Discovery, Inc.; Broughton Nicotine Services; Labstat International, Inc.; IONTOX; TOXIKON; Integrated Laboratory Systems; Enthalpy Analytical; PBR Laboratories, Inc. |
Growth Factors
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.
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.
By Test Type Analysis
The nicotine testing segment dominated the market and accounted for the largest revenue share of 55.0% in 2020. This can be attributed to the presence of an effective regulatory structure for the safe consumption of nicotine-containing products. Rising consumption of tobacco and the growing focus of research studies on nicotine testing utilization are factors expected to expedite segment growth.
The cannabis testing segment also captured a significant market share as it is used for detecting the quantity of cannabis substances in samples. This testing aids in monitoring regulated cannabis products in the market. Rising acceptance of cannabis for medical use is further anticipated to boost the market growth throughout the forecast period.
By Technology Analysis
The mass spectrometry segment dominated the market and accounted for the largest revenue share of 25.9% in 2020. Increasing inspection by regulatory bodies will boost segment growth, as it assists in identifying unknown substances and quantify known substances. The rising focus of research studies on evaluating applications of mass spectrometry is aiding segment growth.
The 3D cell culture technology segment is anticipated to grow at a rapid pace during the forecast period owing to the growing number of in-vitro toxicology laboratories in key regions and the increasing number of tests being conducted by them. Technological advancements in 3D cell culture technology to expand its application across various research studies are also driving the segment.
By Application Analysis
The cytotoxicity testing segment dominated the market and accounted for the largest revenue share of 27.2% in 2020. The segment is expected to continue its dominance over the forecast period. The rising significance of these testing methods in various technologies is considered to be a driving factor for market growth.
3D cell cytotoxicity evaluation system technology can be used to assess cigarette smoke; this system offers faster results without any intervention of skilled force.
By Method Analysis
The cellular assay testing method segment dominated the market and accounted for the largest revenue share of 58.8% in 2020 due to the rise in drug discovery screening to quantify cytotoxicity and other bio-chemicals. The launch of new products for cannabis-based medicine testing is further driving the market.
Advancements in cell-based assays are anticipated to positively impact revenue generation of the segment, owing to delivery of rapid and accurate results without any intervention of skill-force.
By Regional Analysis
North America dominated the in-vitro toxicology assays market for cannabis and nicotine testing and accounted for the largest revenue share of 44.4% in 2020. This growth in the region can be attributed to the presence of a substantial number of market players and legalized usage of cannabis and nicotine for medicinal and recreational purposes.
Asia Pacific, the market is likely to witness the fastest growth over the forecast period. The legalization of cannabis and nicotine-related products is expected to be the key market driver over the forecast period. It is anticipated that India will be the fastest-growing market for in-vitro toxicology assays in the region.
Key Players
Market Segmentation
Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Buy This Premium Research Report, click here@ https://www.visionresearchreports.com/report/cart/38684 or call: +1 9197 992 333
Vision Research Report, Recently Announced New Report on "Smart Lock market - Global Industry Analysis,…
Vision Research Report, Recently Announced New Report on "2D barcode reader market - Global Industry…
Vision Research Report, Recently Announced New Report on "commercial refrigeration equipment market - Global Industry…
Vision Research Report, Recently Announced New Report on "Restaurant Point-of-Sale Terminal market - Global Industry…
Vision Research Report, Recently Announced New Report on "vacuum cleaner market- Global Industry Analysis, Market…
Vision Research Report, Recently Announced New Report on "household refrigerators and freezers market - Global…