Global Cannabis Testing Market, By Product and Software (Cannabis Testing Products, Cannabis Testing Software), Type (Potency Testing, Terpene Profiling, Residual Solvent Screening, Microbial Analysis, Pesticide Screening, Heavy Metal Testing, Genetic Testing), End User (Product and Software, Services), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Cannabis testing market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to USD 2,677.17 million by 2028 growing at a CAGR of 10.65% in the above-mentioned forecast period. The growing awareness amongst the physicians and patients regarding the benefits of cannabis testing which will further create lucrative opportunities for the growth of the market.
Cannabis is the cycle of cannabis quality discovery and usage with the use of a few techniques for drug research. Several countries have found that cannabis is useful for medicinal care, thereby revoking the ban on cannabis. Cannabis Research alludes to the study that an individual example of cannabis may be tested to determine the levels of THC, CBD and terpene as well as foreign substances and emissions.
Increasing adoption of LIMS in cannabis testing laboratories, legalization of medical cannabis coupled with the growing number of cannabis testing laboratories, increasing awareness among the people through conferences, symposia, and workshops, recognition of cannabis for medical and therapeutic use by the medical fraternity are some of the major as well as vital factors which will likely to augment the growth of the cannabis testing market in the projected timeframe of 2021-2028. On the other hand, growing number of mergers and acquisitions along with rising applications from emerging economies which will further contribute by generating massive opportunities that will lead to the growth of the cannabis testing market in the above mentioned projected timeframe.
Lack of trained laboratory professionals along with high cost of analytical instruments which will likely to act as market restraints factors for the growth of the cannabis testing in the above mentioned projected timeframe. High cost of start-ups along with lack of industry standards which will become the biggest and foremost challenge for the growth of the market.
This cannabis 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 localised 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 cannabis 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.
Global Cannabis Testing Market Scope and Market Size
Cannabis testing market is segmented on the basis of product and software, type and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on product and software, the cannabis testing market is segmented into cannabis testing products, and cannabis testing software. Cannabis testing products have been further segmented into analytical instruments, and consumables. Analytical instruments have been further sub segmented into chromatography instruments, spectroscopy instruments, and other analytical instruments. Chromatography instruments have been further bifurcated into liquid chromatography, gas chromatography, and other chromatography instruments. Spectroscopy instruments have been further bifurcated into mass spectrometry instruments, and atomic spectroscopy instruments. Consumables have been further sub segmented into chromatography columns, standards and crms, sample preparation products, and supplies and accessories.
- Cannabis testing market has also been segmented based on the end user into product and software, and services. Product and software has been further segmented into laboratories, and research institutions. Laboratories have been further sub segmented into small-scale laboratories, medium-scale laboratories, and large-scale laboratories. Services have been further segmented into cannabis drug manufacturers and dispensaries, and cannabis cultivators/growers.
- Based on type, the cannabis testing market is segmented into potency testing, terpene profiling, residual solvent screening, microbial analysis, pesticide screening, heavy metal testing, and genetic testing.
Cannabis Testing Market Country Level Analysis
Cannabis testing market is analysed and market size insights and trends are provided by country, product and software, type and end user as referenced above.
The countries covered in the cannabis testing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the cannabis testing market due to the increasing number of testing laboratories along with prevalence of large number of cultivators in the region, while Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2021 to 2028 due to the increasing awareness about drug testing along with reduction in prices in the region.
The country section of the cannabis testing market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, 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.
Healthcare Infrastructure growth Installed base and New Technology Penetration
Cannabis testing market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment’s, installed base of different kind of products for cannabis testing market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the cannabis testing market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Cannabis Testing Market Share Analysis
Cannabis 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 cannabis testing market.
The major players covered in the cannabis testing market report are Agilent Technologies, Inc.; Shimadzu Scientific Instruments.; Merck KGaA; Restek Corporation.; PerkinElmer Inc.; DH Tech. Dev. Pte. Ltd.; WATERS.; Accelerated Technology Laboratories, Inc.; Steep Hill, Inc.; Digipath, Inc.; SC Labs.; PharmLabs LLC; CannaSafe; Anandia Labs; Eirlab Research Group; PhytoVista Laboratories; Pure Analytics LLC; MM Enterprises USA, LLC.; Terra Tech Corp.; Aphria Inc.; among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.