Cannabis
Sixth Wave Advances AMIPs(TM) With Saliva Testing
Halifax, Nova Scotia–(Newsfile Corp. – December 2, 2021) – Sixth Wave Innovations Inc. (CSE: SIXW) (OTCQB: SIXWF) (FSE: AHUH) (“Sixth Wave”, “SIXW” or the “Company”) is pleased to announce the commencement of LIVE VIRUS testing in saliva samples using its patent-pending Accelerated Molecularly Imprinted Polymer (“AMIPs™”) technology relative to SARS-CoV-2 and variants of concern.
The Company along with researchers at the La Ki Shing Institute of Virology are currently testing with AMIPs™ using saliva samples spiked with live SARS-CoV-2 virus by using a protocol similar to an ELISA clinical test. Confirmation studies, as well as additional advanced manufacturing techniques to increase sensitivity levels, are ongoing. These new techniques will simplify test analysis and should lead to further improvements in sensitivity and rejection of interferent molecules that are present in complex saliva samples and other sample collection methods. This phase of the development is expected to be completed later this month.
AMIPs – Next Steps
Viral selectivity screening is the next and final stage of laboratory-based development and will involve testing against a standardized panel of respiratory viruses to confirm that there is no cross-reactivity. Completion of the cross-reactivity testing is the last scientific development step required to produce specificity data before the Company can begin the process of applying for regulatory approval from government agencies such as the FDA and Health Canada. The Company is positioning itself to begin production of product prototypes in the first half of 2022 pending completion of this step.
The Company expects to complete the current phase of testing in the coming weeks, with a successful outcome leading to validation testing by 3rd party laboratories. This testing will continue during the cross-reactivity testing and ultimately will progress to clinical trials with the pre-production prototypes as the Company moves toward submission of AMIPs™ and testing data to regulatory bodies for use authorization. Regulatory approval can be a time-intensive process but the Company believes that AMIPs™ represents a paradigm shift in testing. To date, AMIPs™ have proven very robust in the detection of variants and by design should continue to be relatively unaffected by mutations. AMIPs™ is completely synthetic eliminating major bottlenecks in raw materials, supply chain difficulties, handling limitations, nasal swabs, and waste products. Nothing about the design or manufacturing requirements identified to date suggests that AMIPs™ tests can’t be produced at or below the costs of similar ELISA or antigen tests.
The Company is not making any express or implied claims that its current AMIPs™ product has the ability to eliminate, cure, contain, or detect, at a commercial level, COVID-19 (or SARS-2 coronavirus) at this time.
For more information on the AMIPs™ and associated molecular imprinting technology, please visit: https://www.amips.com.
About Sixth Wave
Sixth Wave is a nanotechnology company with patented technologies that focus on extraction and detection of target substances at the molecular level using highly specialized Molecularly Imprinted Polymers (MIPs). The Company is in the process of a commercial rollout of its Affinity™ cannabinoid purification system, as well as, IXOS®, a line of extraction polymers for the gold mining industry. The Company is in the development stages of a rapid diagnostic test for viruses under the Accelerated MIPs (AMIPs™) label.
Sixth Wave can design, develop and commercialize MIP solutions across a broad spectrum of industries. The company is focused on nanotechnology architectures that are highly relevant for the detection and separation of viruses, biogenic amines, and other pathogens, for which the Company has products at various stages of development.
For more information about Sixth Wave, please visit our website at: www.sixthwave.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Jonathan Gluckman”
Jonathan Gluckman, Ph.D., President & CEO
For information, please contact the Company:
Phone: (801) 582-0559
E-mail: [email protected]
Cautionary Notes
This press release includes certain statements that may be deemed “forward-looking statements” including statements regarding the planned use of proceeds and performance of the AMIPs™ technologies. All statements in this release, other than statements of historical facts, that address future events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. In particular, successful development and commercialization of the AMIPs™ technology are subject to the risk that the AMIPs™ technology may not prove to be successful in detecting virus targets effectively or at all, the uncertainty of medical product development, the uncertainty of timing or availability of required regulatory approvals, lack of track record of developing products for medical applications and the need for additional capital to carry out product development activities. The value of any products ultimately developed could be negatively impacted if the patent is not granted. The Company has not yet completed the development of a prototype for the product that is subject of its patent application and has not yet applied for regulatory approval for the use of this product from any regulatory agency.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106274
Cannabis
Cannabis Testing Market Worth $4.0 billion | MarketsandMarkets™
CHICAGO, May 23, 2024 /PRNewswire/ — Cannabis Testing Market in terms of revenue was estimated to be worth $1.8 billion in 2024 and is poised to reach $4.0 billion by 2029, growing at a CAGR of 17.2% from 2024 to 2029 according to a new report by MarketsandMarkets™.
The important factors impacting market growth are legalization trends and rising medical applications for cannabis. Rising approvals for medical and recreational cannabis drive the regulations requiring product safety testing which in turn fuel the need for cannabis testing services. Additionally, the rise in the number of cannabis testing labs due to legalization is propelling the demand for analytical instruments is likely to uplift market growth in coming years.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=46932450
Browse in-depth TOC on “Cannabis Testing Market”
439 – Tables
52 – Figures
378 – Pages
Cannabis Testing Market Scope:
Report Coverage |
Details |
Market Revenue in 2024 |
$1.8 billion |
Estimated Value by 2029 |
$4.0 billion |
Growth Rate |
Poised to grow at a CAGR of 17.2% |
Market Size Available for |
2022–2029 |
Forecast Period |
2024–2029 |
Forecast Units |
Value (USD Billion) |
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered |
By Product & Software, By Service & By End User |
Geographies Covered |
North America, Europe, the Asia Pacific, Latin America and the Middle East & Africa |
Report Highlights |
Updated financial information / product portfolio of players |
Key Market Opportunities |
Untapped markets in emerging economies |
Key Market Drivers |
Increasing legalization of medical and recreational cannabis |
Products segment held the highest estimated share of the cannabis testing market.
Based on product & software, the cannabis testing market is segmented into products (analytical instruments {chromatography instruments [liquid chromatography, gas chromatography & other chromatography instruments], spectroscopy instruments [mass spectrometry instruments & atomic spectroscopy instruments] & other analytical instruments} and consumables {chromatography columns, standards and CRMS, sample preparation products and other consumables) and software. The product segment accounted for the largest share of the cannabis testing market in 2023. Market growth is driven by technological advancements providing sophisticated tools for precise analysis, ensuring compliance and quality control, and the expanding legalization of cannabis products. Additionally, increasing requirements for potency labeling and pesticide screening fuel the demand for specialized consumables, further propelling growth in the cannabis testing market. For example, Thermo Fisher Scientific Inc. launched the Thermo Scientific SureSTART consumables portfolio consisting of vials, well plates, caps, inserts, kits, and mats to improve analytical performance and sample security for chromatography and mass spectrometry users in routine and research labs in clinical, food, pharma, biopharma, environmental, and academic sectors.
High growth of services segment attributed to potency testing services.
Based on service, the cannabis testing market is broadly segmented into terpene profiling, microbial analysis, residual solvent analysis, potency testing, heavy metal testing, pesticide screening, and other services. In 2023, potency testing accounted for the largest share of the cannabis testing services market. The high growth of this segment is due to stringent regulatory requirements ensuring accurate THC and CBD levels. This is crucial for product labeling, consumer safety, and compliance, driving demand from producers and dispensaries seeking to meet legal standards and provide reliable, high-quality products.
Services take away the largest estimated share of the end-user segment.
Based on end users, the cannabis testing market is classified into segmented into product & software end users (cannabis testing laboratories {small-scale laboratories, medium-scale laboratories, large-scale laboratories} and research institutes) and service end users (cannabis drug manufacturers & dispensaries, cannabis cultivators/growers). In 2023, the service end users’ segment was predicted to account for the highest share of the global cannabis testing market. The large share of this end user segment is due to the rising consumer awareness of quality and safety, rising legalization of cannabis, stringent regulatory standards, and technological advancements in cannabis testing.
During the forecast period, North America displayed lucrative market growth.
North America accounted for the largest share of 65.5% of the cannabis testing market in 2023. The North American market is projected to reach a value of USD 2.6 billion by 2029 from an estimated value of USD 1.2 million in 2024, at a CAGR of 17.3% during the forecast period. The region leads the cannabis testing market due to stringent regulatory standards, robust infrastructure, and widespread legalization of cannabis for medical and recreational purposes. Additionally, North America’s advanced R&D capabilities and evolving consumer demand for quality assurance drive its prominence in this growing sector.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=46932450
Cannabis Testing Market Dynamics:
Drivers:
- Increasing legalization of medical and recreational cannabis
- Increasing use of cannabis for medicinal applications
- Technological advancements in testing technologies
Restraints:
- Lack of standardization
- Investment risks due to regularization
Opportunities:
- Untapped markets in emerging economies
- Research collaborations
Challenge:
- High setup costs
Key Market Players of Cannabis Testing Industry:
The global cannabis testing market comprises many key market players competing for markets shares like Agilent Technologies, Inc. (US), Shimadzu Corporation (Japan), Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Waters Corporation (US), Restek Corporation (US), SGS SA (Switzerland), Merck KGaA (Germany), PerkinElmer, Inc. (US), Hamilton Company (US), Sigma Analytical Services (Canada), SC Labs (US), PharmLabs LLC (US), MCS, Inc. (US), ProVerde Laboratories (US), and Eurofins Scientific (Luxembourg).
The primary interviews conducted for this report can be categorized as follows:
- By Respondent: Supply Side- 70%, and Demand Side – 30%
- By Designation (Supply Side): Managers – 45%, CXOs & Directors – 30%, Executives- 25%
- By Region: North America -40%, Europe -25%, Asia-Pacific -20%, Latin America -10%, MEA- 5%
Recent Developments:
- In September 2023, Shimadzu Corporation launched the Brevis GC-2050 gas chromatograph used in various applications including cannabis testing.
- In April 2023, SC Labs, one of the leading cannabis testing companies, acquired C4 Laboratories, one of the first Arizona cannabis labs, thus allowing it to be licensed and accredited in five states: California, Colorado, Michigan, Oregon, and Arizona.
- In June 2022, Shimadzu Corporation launched the AA-7800 series atomic absorption spectrophotometers. The AA-7800 series is used for quality control in the raw material, food, and for inspecting water quality and hazardous substances in soil thus presenting an advantage in heavy metal testing of cannabis.
Get 10% Free Customization on this Report:
https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=46932450
Cannabis Testing Market – Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall cannabis testing market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Analysis of key drivers (increasing legalization of medical and recreational cannabis, increasing use of cannabis for medicinal applications and technological advancements in testing technologies), restraints (lack of standardization and investment risks due to regularization), opportunities (untapped markets in emerging economies and research collaborations) and challenges (high setup costs) are influencing the growth of cannabis testing market.
- Product Development/Innovation: Detailed insights on newly launched products of the cannabis testing market.
- Market Development: Comprehensive information about lucrative markets – the report analyses the cannabis testing market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the cannabis testing market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players include Agilent Technologies, Inc. (US), Shimadzu Corporation (Japan), Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Waters Corporation (US), Restek Corporation (US), SGS SA (Switzerland), Merck KGaA (Germany), PerkinElmer, Inc. (US), Hamilton Company (US), Sigma Analytical Services (Canada), SC Labs (US), PharmLabs LLC (US), MCS, Inc. (US), ProVerde Laboratories (US), and Eurofins Scientific (Luxembourg) among others in the cannabis testing market.
Related Reports:
Drug Screening Market – Global Forecasts to 2029
Laboratory Proficiency Testing Market – Global Forecasts to 2028
Life Science Instrumentation Market – Global Forecasts to 2028
Digital PCR Market – Global Forecasts to 2028
Flow Cytometry Market – Global Forecasts to 2028
Get access to the latest updates on Cannabis Testing Companies and Cannabis Testing Industry Growth
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com/
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original content:https://www.prnewswire.co.uk/news-releases/cannabis-testing-market-worth-4-0-billion–marketsandmarkets-302154066.html
Cannabis
Solei Brand Introduces New Cannabis-Infused ‘Warming Deep Tissue Stick’
Cannabis
Medical Cannabis Market Report 2024-2030: Asia-Pacific Set to Witness Robust Growth, Driven by R&D Discovery Initiatives
-
Cannabis2 weeks ago
Global Legal Marijuana Strategic Business Report 2024: A $125+ Billion Market by 2030 Featuring Aphria, Aurora Cannabis, Beacon Medical, Canopy Growth, Cronos, OrganiGram, Tikun Olam, Tilray, Wayland
-
Cannabis2 weeks ago
Avicanna Announces Results of Study in Patients with Epidermolysis Bullosa
-
SCHWAZZE1 week ago
Schwazze Announces First Quarter 2024 Financial Results
-
Cannabis2 weeks ago
North America Legal Cannabis Industry Report 2024: Market to Grow at a CAGR of 26.65% During 2023-2032, Bank Loans Boosting Business Growth
-
Cannabis1 week ago
Medical Cannabis Market Report 2024-2030: Asia-Pacific Set to Witness Robust Growth, Driven by R&D Discovery Initiatives
-
Cannabis1 week ago
Polyethylene Films Packaging Market Size to Worth USD 139.98 Bn by 2032
-
Cannabis1 week ago
Rubicon Organics Reports Q1 2024 Financial Results
-
StickIt4 days ago
StickIt Technologies Announces Investment into Ripco Processing Inc.