Global Cannabis Testing Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at CAGR of 12.3% during forecast period.
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Global cannabis testing market is driven by legalization of medical cannabis and increasing adoption of LIMS in cannabis testing laboratories. Ongoing trend observed in the global market is increasing adoption of cannabis for recreational purpose and is expected to drive the forecast period.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
However, factors like stringent regulatory framework for cannabis and dearth of trained laboratory professionals are proving to be some of the restraints in the market growth. The lack of skilled professionals in the field of testing of cannabis is one of the key challenges faced by the cannabis testing market globally. As the medical cannabis market continues to increase, the need for lab-tested cannabis will also rise.
Also, an initial investment to set up laboratories for cannabis testing is very high. To set up a testing laboratory, the basic requirement that must be fulfilled contains testing instruments, inventory control, quality control, qualified staff, data management, and administrative functions.
Potency testing segment is expected to hold the largest market share during the forecast period.
Cannabinoids potency screening is mostly employed by quality control laboratories and chemists. Also, potency research is vital for precise labeling of medical products.
North America is projected to lead the cannabis testing market in the upcoming years, owing to the legalization of cannabis by major states in the US and Canada and the presence of major market players. The increase in the use of cannabis to treat diseases, growing awareness about cannabis among the population in developing economies, and a rise in the number of cannabis testing labs are driving the growth of the cannabis testing market in the Asia Pacific region.
A recent development in Global Cannabis Testing Market: In January 2018, SCIEX Diagnostics, a partition of SCIEX launched Citrine Triple Quad MS/MS & Citrine QTRAP MS/MS Systems for clinical diagnostics.
In June 2017, Waters Corporation received an agreement for Waters ACQUITY UPLC, ACQUITY UPLC I-Class System by Brazil’sNational Health Surveillance Agency (ANVISA).
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Cannabis Testing Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Global Cannabis Testing Market.
Scope of the Global Cannabis Testing Market
Global Cannabis Testing Market, By Type
Global Cannabis Testing Market, By Services
• Potency Testing
• Terpene Profiling
• Pesticide Screening
• Residual Solvent Screening
• Heavy Metal Testing
• Microbial Analysis
Global Cannabis Testing Market, By End User
• Testing Laboratories
• Drug Manufacturers
• Research Institutes
Global Cannabis Testing Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key Players in the Global Cannabis Testing Market
• Agilent Technologies, Inc.
• Shimadzu Corporation
• Millipore Sigma (A Life Science Segment of Merck KGaA)
• Restek Corporation
• Perkinelmer, Inc.
• AB Sciex LLC (A Subsidiary of Danaher Corporation)
• Waters Corporation
• Accelerated Technology Laboratories, Inc.
• Steep Hill Halent Laboratories, Inc.
• Digipath, Inc.
• SC (Science of Cannabis) Laboratories, Inc.
• Pharmlabs LLC
• Anandia Labs
• CannaSafe Analytics
• CW Analytical Laboratories
• Phytovista Laboratories
• Pure Analytics
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Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
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