January 29, 2020

Market Size of Cannabis Testing to Show High Growth by 2027

The report covers the forecast and analysis of the cannabis testing market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2027 based on revenue (USD Million). The study includes drivers and restraints of the cannabis testing market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the cannabis testing market on a global level.

In order to give the users of this report a comprehensive view of the cannabis testing market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product & service launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.

The study provides a decisive view of the cannabis testing market by segmenting the market based on the product & software, method of testing, end-users, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2027. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

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The usage of medicinal cannabis for the purpose of reducing nausea post the chemotherapy or appetite stimulation in AIDS patients for controlling muscle spasms will propel the industry demand. In addition to this, the rise in the approval of cannabis-based medicines along with new product introduction will spur the growth of cannabis testing market during the timespan from 2019 to 2027. Apparently, the large-scale acceptance of LIMS across the cannabis testing labs will enlarge the business scope during the forecast timeline. Nevertheless, the high cost of analytical devices and high variation in the testing procedures will hinder the market progression over the forecast timeline.

Based on the product & software, the market is sectored into products and software. The products segment is again divided into Analytical Instruments, Spectroscopy Instruments, and Consumables. Based on the method of testing, the industry is divided into Potency, Residual Solvent Screening, Heavy Metal, Pesticide Screening, Terpene Profiling, Genetic, and Microbial Analysis. In terms of end-users, the market is classified into Cannabis Testing Laboratories, Drug Manufacturers & Dispensaries, Research Institutions, and Cultivators.

The key players involved in the global cannabis testing business include Waters Corporation, Agilent Technologies, Inc., Shimadzu Corporation, PerkinElmer, Inc., GenTech Scientific, Millipore Sigma, AB SCIEX LLC, PharmLabs, LLC, CannaSys, Inc., and Cannabix Technologies, Inc.