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In-vitro Toxicology Assays Market

Market Study on In Vitro Toxicology Assays Market: Easing of Cannabis Consumption Regulations to bring New Turn to Demand

In-vitro Toxicology Assays Market by Method: Cellular Assay - Live Cells, Fixed Cells | Test Types - Cannabis Testing and Nicotine Testing

In-vitro Toxicology Assays Market Outlook (2022-2032)

Newly-released In-vitro Toxicology Assays market analysis report by Persistence Market Research shows that global sales of In-vitro Toxicology Assays market in 2021 was held at US$ 1.4Bn. With 16.6%, the projected market growth during 2022 - 2032 is expected to be significantly higher than the historical growth. The absolute dollar opportunity for In-vitro Toxicology Assays market will be witnessing US$ 5.8Bn overall growth due the rising use of cannabis and nicotine-based products, as well as the launch of technologically improved devices, are driving the in-vitro toxicology assay market for cannabis and nicotine testing.

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Global In vitro Toxicology Assays Market (2022)

US$ 1.6 Bn

Global In vitro Toxicology Assays Market (2032)

US$ 7.5 Bn

Global In vitro Toxicology Assays Market CAGR (2022 – 2032)

16.6%

U.S. In vitro Toxicology Assays Market CAGR (2022 – 2032)

17.7%

Key Companies Profiled

  • Stemina Biomarker Discovery, Inc.
  • Broughton Nicotine Services
  • Labstat International, Inc.
  • IONTOX
  • TOXIKON
  • Integrated Laboratory Systems
  • Enthalpy Analytical
  • PBR Laboratories, Inc.
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Revenue of In-vitro Toxicology Assays market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

As per the In-vitro Toxicology Assays market research by Persistence Market Research - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the In-vitro Toxicology Assays market increased at around 12.9% CAGR, wherein, North America held a significant share in the global market.

The growing teenage population that is getting attracted to consuming nicotine and cannabis-related products, will help drive market expansion. Furthermore, the number of nations authorizing the use of medicinal cannabis is likely to rise in the future years, leading to increased global use of medical cannabis. Another reason that has led to an increase in the number of countries legalizing cannabis for medicinal purposes is the possibility of large tax income. As a result, the market is expected to grow at a CAGR of 16.6% over the next ten years.

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What will be the growth prospects of the In-vitro Toxicology Assays market?

In recent years, there has been an increase in public knowledge of the medicinal uses of cannabis (marijuana), such as appetite augmentation, pain treatment, and lowering ocular pressure. Because of this, the number of countries authorizing the use of medicinal cannabis in various regions of the world is steadily expanding. For example, most states in the United States have legalized the use and commercialization of medicinal cannabis, and an increasing number of nations are legalizing the plant for recreational use.

As the usage of cannabis products has grown, so has the number of specialist cannabis testing facilities. This accelerated market competition. Laboratory Information Management Systems (LIMS), for example, serve as a promising solution for a testing laboratory due to stringent regulatory requirements and high sample throughput.

Medical cannabis is being legalized in nations throughout the world, including Germany, Australia, and Israel. In the Asia Pacific area, the business is gaining traction, with Thailand completely legalizing medical cannabis. As a result, the legalization of medicinal cannabis is projected to fuel market expansion to a large extent. Furthermore, technical improvements in cellular assays have fuelled market expansion.

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Which Region is Projected to Offer the Largest Opportunity for In-vitro Toxicology Assays Market?

In-vitro Toxicology Assays market revenue is expected to grow at the fastest rate in the Asia Pacific, between 2022 and 2032. Over the projected period, the legalization of cannabis and nicotine-related products is likely to be the primary market driver. India is expected to be the region's fastest-growing market for in-vitro toxicology testing. CBD and other cannabis-related products are gaining traction in Indian businesses, with four local CBD firms in the country.

The market in Asia Pacific is expected to grow at the fastest rate during the forecast period. Furthermore, the predominance of IDA in emerging economies like China and India has benefited industrial growth. Europe had the second-largest revenue share in the market for intravenous iron medications in 2020, and this figure is likely to climb considerably during the forecast period. This may be attributed to the region's key market participants, increasing research and commercialization of novel treatments, adoption of innovative products, and the region's rising cancer incidences.

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Country-wise Analysis

U.S. In-vitro Toxicology Assays Market Analysis

The United States dominated the North American In-vitro Toxicology Assays market, which is expected to reach US$ 2.8 Bn by 2032 and will increase at a CAGR of 17.7% CAGR during the forecast period.

High healthcare spending, well-established healthcare infrastructure, and stringent FDA regulations are some of the key factors contributing to the market supremacy of the U.S. during the projection period.

There have been numerous approvals and releases of new In-vitro Toxicology Assays drugs in the United States. Its dominance can be linked to the country’s increased incidence of cancer, chronic renal illness, and gastrointestinal disorders. Furthermore, growth in women's health awareness and an increase in the prevalence of celiac disease are two key factors driving the market in this field.

U.K. In-vitro Toxicology Assays Market Analysis

The market in the U.K. is expected to register a CAGR of 18.4% during 2022 – 2032. It is likely to reach a valuation of US$ 375 Mn by 2032, with an absolute dollar opportunity of US$ 304 Mn during the forecast period.

Japan In-vitro Toxicology Assays Market Analysis

The market in Japan is likely to reach US$ 271 Mn by 2032, growing at a CAGR of US$ 17.4%. During 2022 – 2032, the market is expected to register an absolute dollar opportunity of US$ 215.6 Mn.

South Korea In-vitro Toxicology Assays Market Analysis

The market in South Korea is expected to gross US$ 162 Mn by 2032. The market is expected to gross a CAGR of 16.7% in the next 10 years to gross an absolute dollar opportunity of US$ 127 Mn.

Category-wise Insights

Why Cellular Assays method of In-vitro Toxicology Assays is Forecasted to Bring Significant Opportunity to the Market?

Due to the increased use of drug discovery screening to measure cytotoxicity and other bio-chemicals, the cellular assay compliance with the requirement specification segment dominated the market and held the largest revenue share in 2021. The launch of new products for testing cannabis-based medications is accelerating the industry's growth. During the projection period, the cellular assay would grow at a CAGR of 18.1%.

Advancements in cell-based assays are expected to have a favorable influence on revenue creation in the market due to the delivery of speedy and precise findings without the participation of a skilled workforce. Real-time Cell Analysis (RTCA), for example, is a technology that allows for the quick and generally labor-free cytotoxic evaluation of test chemicals. It has grown in popularity due to its adaptability, ease of use, and ability to track cell conditions during an experiment.

Competitive Analysis

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 major vendors in the global In-vitro Toxicology Assays market are Stemina Biomarker Discovery, Inc.; Broughton Nicotine Services; Labstat International, Inc.; Iontox; Toxicon; Integrated Laboratory Systems; Enthalpy Analytical; and PBR Laboratories, Inc among others.

Some of the recent development in the In-vitro Toxicology Assays market are:

  • In July 2021, IONTOX announced a 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.

Market Segments Covered in In-vitro Toxicology Assays Industry Analysis

By Method

  • Cellular Assay
    • Live Cells
    • Fixed Cells
  • Other Methods

By Test Type

  • Cannabis Testing
  • Nicotine Testing

By Technology

  • 3D Cell Culture Technology
  • Mass Spectrometry
  • Flow Cytometry
  • Other Technologies

By Application

  • Genetic Toxicity Testing
  • Carcinogenicity Testing
  • Cytotoxicity Testing
  • Mutagenicity Testing
  • Other Applications

By Region

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA

- Companies Covered in This Report -

  • STEMINA BIOMARKER DISCOVERY, INC.
  • BROUGHTON NICOTINE SERVICES
  • LABSTAT INTERNATIONAL, INC.
  • IONTOX
  • TOXIKON
  • INTEGRATED LABORATORY SYSTEMS
  • ENTHALPY ANALYTICAL
  • PBR LABORATORIES, INC.

- Frequently Asked Questions -

The global In-vitro Toxicology Assays market is worth more than US$ 1.6Bn at present.

The value of the In-vitro Toxicology Assays market is projected to increase at a CAGR of around 16.6% during 2022 – 2032.

The value of the In-vitro Toxicology Assays market increased at a CAGR of around 12.9% during 2017 – 2021.

The top 5 countries driving demand for the In-vitro Toxicology Assays market are the U.S., China, the UK, Japan, and South Korea.

The major specimen that is used and has high demand is Cellular Assays the revenue through which will grow at 18.1% CAGR during 2022-2032.

The US market for In-vitro Toxicology Assays is projected to expand at a CAGR of around 17.7% during 2022 – 2032.

The key companies in In-vitro Toxicology Assays market are Stemina Biomarker Discovery, Inc.; Broughton Nicotine Services; Labstat International, Inc.; Iontox; Toxicon; Integrated Laboratory Systems; Enthalpy Analytical; and PBR Laboratories, Inc.

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