Global Cannabidiol (CBD) Testing Market, By Product and Software (Analytical Instruments, Consumables, Software), Testing Procedures (Residual Solvent Screening, Terpene Profiling, Potency Testing, Genetic Testing, Pesticide Screening, Heavy Metal Testing, Microbial Analysis), End-User (Laboratories, Cannabis Cultivators, Research Institutes, Drug Manufacturers and Dispensaries) – Industry Trends and Forecast to 2030.
Cannabidiol (CBD) Testing Market Analysis and Size
The cannabidiol (CBD) testing is expected to witness significant growth during the forecast period due to increasing awareness regarding the benefits of cannabis among consumers along with increasing usages of cannabidiol (CBD) for medical purpose. Also due to a large number of health benefits, the governments in nations are now recognizing the usage of cannabidiol (CBD) for medical purpose. The cannabis is progressively being legalized for medical usage in countries across globe. The requirement for cannabidiol (CBD) analytical testing to make sure its safety before the consumption, which has developed in recent years.
Data Bridge Market Research analyses that the cannabidiol (CBD) testing market is expected to reach USD 67.38 million by 2030, which is USD 46.31 million in 2022, registering a CAGR of 4.80% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Cannabidiol (CBD) Testing Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product and Software (Analytical Instruments, Consumables, Software), Testing Procedures (Residual Solvent Screening, Terpene Profiling, Potency Testing, Genetic Testing, Pesticide Screening, Heavy Metal Testing, Microbial Analysis), End-User (Laboratories, Cannabis Cultivators, Research Institutes, Drug Manufacturers and Dispensaries)
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Countries Covered
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U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
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Market Players Covered
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CannaSafe (U.S.), Steep Hill, Inc (U.S.), Eirlab Research Group (Ireland), GOODBODY HEALTH INC. (U.S.), CW ANALYTICAL (U.S.), Pure Analytics (U.S.), ANRESCO (U.S.), SC Labs (India), Battelle Memorial Institute (U.S.), Aphria Inc (Canada), Medical Marijuana, Inc (U.S.), STENOCARE A/S (Denmark), Cannabis Science Inc (U.S.), Thermo Fisher Scientific (U.S.), Merck KGaA (Germany), Agilent Technologies, Inc. (U.S.)
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Market Opportunities
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Market Definition
Cannabinoid (CBD) is a natural substance that is found in cannabis and also known as marijuana. It isalso found in hemp plants. Now, we can find cannabinoid (CBD) oil in capsules, oil bases for food items, vaporizers, tinctures and beauty products such as lotions or bath bombs. These products claim that they can cure conditions such as migraines, epilepsy, autoimmune diseases, chronic pain, inflammation, depression, and anxiety.
Cannabidiol (CBD) Testing Market Dynamics
Drivers
- Increasing usage of cannabidiol (CBD) numerous medical applications
Cannabidiol is most extensively used for therapeutic purposes owing to the lack of psychoactive effects. In numerous medical applications, cannabidiol is used in variety of problems such as anxiety and depression treatment, pain relief, cancer symptom relief, stress relief, diabetes prevention and inflammation. The growing adoption of cannabidiol (CBD) based products to cure ailments is anticipated to drive the growth of the cannabidiol (CBD) testing market in the forecast period.
- Rise in research on cannabidiol (CBD) for medical use
Many organizations provide authorization to the laboratories that does analytical and well-organized testing of cannabidiol (CBD) derived products. The increasing investment in the research for medical usage of cannabidiol (CBD) by the pharmaceutical and biotechnology companies is one of the major factors impelling the market's growth. Moreover, the testing of cannabidiol (CBD) derived products is for exhibiting the safety and security of products. Thus, the rising demand of cannabidiol (CBD) for testing in laboratories will boost the demand for cannabidiol (CBD) testing services.
Opportunities
- Increasing investments for research and development activities
The government of different nations and major market players in the cannabidiol (CBD) testing market are investing in research and development activities. The cannabidiol (CBD) is said to be an effective treatment for numerous neurological diseases such as epilepsy in many clinical trials. Market players such as Echo Pharmaceuticals created a product called Arvisol, an oral tablet comprising pure cannabinoids, for treatment such as schizophrenia and epilepsy. Zynerba.
Restraints/ Challenges
- Issues associated with cannabidiol (CBD) testing market
High cost of laboratory equipment coupled with lack of uniformity in quality rules will likely act as major restraining factor for the market's growth in the abovementioned forecast period. Furthermore, strict government rules and regulations along with high price of start-ups will become the foremost and biggest challenge for the market growth.
This cannabidiol (CBD) testing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cannabidiol (CBD) testing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In 2020, DigiPath has acquired VSSL Enterprises Ltd. which is a provider of agritech consulting solutions for cultivation, analytical testing, cannabis genetics, tissue culture and predictive tools.
- In 2020, Agilent Technologies Inc. has launched Cannabis and Hemp Potency Kit. The new product, offer testing labs effective and simple solutions to aid them get up and running quickly.
Global Cannabidiol (CBD) Testing Market Scope
The cannabidiol (CBD) testing market is segmented on the basis of product and software, testing procedures and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product and Software
- Analytical Instruments
- Consumables
- Software
Testing Procedures
- Residual Solvent Screening
- Terpene Profiling
- Potency Testing
- Genetic Testing
- Pesticide Screening
- Heavy Metal Testing
- Microbial Analysis
End-User
- Laboratories
- Cannabis Cultivators
- Research Institutes
- Drug Manufacturers
- Dispensaries
Cannabidiol (CBD) Testing Market Regional Analysis/Insights
The cannabidiol (CBD) testing market is analyzed and market size insights and trends are provided by country, product and software, testing procedures and end-user as referenced above.
The countries covered in the cannabidiol (CBD) testing market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the cannabidiol (CBD) testing market in terms of revenue and market share. This is mainly due to the growing legalization with the increasing usage of cannabis. Moreover, growing number of marijuana cultivators will expected to enhance the market growth.
North America is expected to be the fastest developing region during the forecast period of 2023-2030 due to growing awareness regarding the benefits of cannabis among the consumers in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Cannabidiol (CBD) Testing Market Share Analysis
The cannabidiol (CBD) testing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cannabidiol (CBD) testing market.
Some of the major players operating in the cannabidiol (CBD) testing market are:
- CannaSafe (U.S.)
- Steep Hill, Inc (U.S.)
- Eirlab Research Group (Ireland)
- GOODBODY HEALTH INC. (U.S.)
- CW ANALYTICAL (U.S.)
- Pure Analytics (U.S.)
- ANRESCO (U.S.)
- SC Labs (India)
- Battelle Memorial Institute (U.S.)
- Aphria Inc (Canada)
- Medical Marijuana, Inc (U.S.)
- STENOCARE A/S (Denmark)
- Cannabis Science Inc (U.S.)
- Thermo Fisher Scientific (U.S.)
- Merck KGaA (Germany)
- Agilent Technologies, Inc. (U.S.)
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