CANNABIS TESTING SERVICES MARKET ANALYSIS (2020-2027)
Cannabis market is highly influenced by rigorous legalization efforts, which are aiming for approval of cannabis for medicinal or recreational purpose. Various governments and regulatory authorities are taking efforts to legalize cannabis, owing to its medicinal benefits. Moreover, commercialization of cannabis-based products under the legalized standards require successful cannabis testing, which further results in lucrative growth opportunity for market players.
Market Dynamics
Cannabis testing service market is expected to witness significant growth over the forecast period, owing to legalization of cannabis for medicinal and recreational activities in key regions. For instance, in 2018, the parliament of Canada passed a law legalizing nationwide use of marijuana for recreational purposes. Furthermore, in February 2016, the Australia government amended the Narcotics Drugs Act 1967 to allow cultivation of cannabis for medicinal or scientific purposes under a national licensing scheme, which is expected to favour growth of the commercial manufacturing of cannabis in different regions of Australia.
Key features of the study:
- This report provides in-depth analysis of the cannabis testing service market, market size (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the forecast period: 2018 – 2026, considering 2017 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global cannabis testing and service market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies
- Key players covered as a part of this study include, SC Laboratories Inc., Eurofins Scientific, EVIO Labs, ProVerde Laboratories, Inc., Praxis laboratory, Cascadia Labs, Encore labs, SGS Canada Inc., Pharm Labs LLC, and Agricore Laboratories
- Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to their future product launch, governmental initiatives, technological up-gradation, market expansion, and marketing tactics
- The global cannabis testing service market report caters to various stakeholders in this industry, including investors, product manufacturers, distributors, and suppliers for cannabis testing service market, research and consulting firms, new entrants, and financial analysts
Detailed Segmentation:
- Global Cannabis Testing Services Market, By Test Type:
- Potency Testing
- Terpene Profiling
- Cannabinoid Profiling
- Pesticide Screening
- Residual Solvent Testing
- Microbiological Screening
- Other Tests
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- Global Cannabis Testing Services Market, By End User:
- Cannabis Firms
- Homecare Settings
- Research Institutes
- Global Cannabis Testing Services Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Test Type:
- Potency Testing
- Terpene Profiling
- Cannabinoid Profiling
- Pesticide Screening
- Residual Solvent Testing
- Microbiological Screening
- Other Tests
- By End User:
- Cannabis Firms
- Homecare Settings
- Research Institutes
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Test Type:
- Potency Testing
- Terpene Profiling
- Cannabinoid Profiling
- Pesticide Screening
- Residual Solvent Testing
- Microbiological Screening
- Other Tests
- By End User:
- Cannabis Firms
- Homecare Settings
- Research Institutes
- Asia Pacific
- By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Test Type:
- Potency Testing
- Terpene Profiling
- Cannabinoid Profiling
- Pesticide Screening
- Residual Solvent Testing
- Microbiological Screening
- Other Tests
- By End User:
- Cannabis Firms
- Homecare Settings
- Research Institutes
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Test Type:
- Potency Testing
- Terpene Profiling
- Cannabinoid Profiling
- Pesticide Screening
- Residual Solvent Testing
- Microbiological Screening
- Other Tests
- By End User:
- Cannabis Firms
- Homecare Settings
- Research Institutes
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Test Type:
- Potency Testing
- Terpene Profiling
- Cannabinoid Profiling
- Pesticide Screening
- Residual Solvent Testing
- Microbiological Screening
- Other Tests
- By End User:
- Cannabis Firms
- Homecare Settings
- Research Institutes
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Test Type:
- Potency Testing
- Terpene Profiling
- Cannabinoid Profiling
- Pesticide Screening
- Residual Solvent Testing
- Microbiological Screening
- Other Tests
- By End User:
- Cannabis Firms
- Homecare Settings
- Research Institutes
- Company Profiles
- SC Laboratories Inc.*
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Highlights
- Strategies
- Eurofins Scientific
- EVIO Labs
- ProVerde Laboratories, Inc.
- Praxis laboratory
- Cascadia Labs
- Encore labs
- SGS Canada Inc.
- PharmLabs LLC
- Agricore laboratories
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