According to the new market research report "Cannabis Testing Market by Product & Software (LC, GC, Spectroscopy (MS, Atomic), Column, Standards, Accessories, LIMS), Service (Potency, Pesticides, Heavy Metal, Genetic Testing), End User (Lab, Pharmaceutical, Research) - Global Forecast to 2021", published by MarketsandMarkets™, the overall cannabis testing market expected to reach USD 1,416.3 million by 2021 from USD 822.0 million in 2016, at a CAGR of 11.5% of during the forecast period (2016-2021).
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Owing to various social and political factors, cannabis has been banned in most countries since the early 1900s. At present, many countries are increasingly recognizing the benefits of cannabis for medicinal purposes and are hence approving its use.
Legalization fo medical cannabis coupled with the growing number of cannabis testing laboratories
Medical cannabis is proven to be effective in various medical applications, such as reducing nausea caused due to chemotherapy, stimulating appetite in AIDS patients, controlling muscular spasms in multiple sclerosis patients, and reducing intraocular pressure in patients with glaucoma. Owing to these potential health benefits, governments in various countries are legalizing the use of medical cannabis. Countries including Australia (2016), Canada (2015), North Korea, Spain, Portugal (2001), the U.K. (2006), Germany (awaiting approval by the end of 2017), Italy, the Netherlands, Israel, and Brazil have legalized the use of medical cannabis in recent years. Moreover, in the U.S., 25 states have legalized medical cannabis; four states Colorado, Washington, Oregon, and Alaska—have legalized cannabis for both medical and recreational use.
Browse and in-depth TOC on " Cannabis Testing Market "
160 - Tables
49 - Figures
203 - Pages
To know about the assumptions considered for the study, download the pdf brochure
The following are the major objectives of the study : Cannabis Testing Market
To define, describe, and forecast the global cannabis testing market on the basis of product and software, service, end user, and region
To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
To strategically analyze micromarkets1 with respect to individual growth trends, future prospects, and contributions to the overall market
To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
To forecast the market size of market segments with respect to four main regions (along with the countries), namely, North America, Europe, Asia-Pacific, and LATAM & MEA
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