Cannabis Testing Market to Grow at 11.9+% CAGR to Reach US$ 2,486.7 Mn by 2025 Led by Agilent Technologies, PerkinElmer, Shimadzu Corporation, SCIEX, Merck KGaA, Restek Corporation
According to a new market research study titled ‘Cannabis Testing Market to 2025 – Global Analysis and Forecasts by Type, Services and End User, the global cannabis testing market is expected to reach US$ 2,486.7 Mn in 2025 from US$ 1,028.2 Mn in 2017. The market is estimated to grow with a CAGR of 11.9% from 2017-2025. The report highlights the trends prevalent in the global cannabis testing market and the factors driving the market along with those that act as deterrents to its growth. The market is expected to grow due to the increasing awareness through conferences, symposia, & workshops, legalization of medical cannabis and growing adoption of LIMS in cannabis testing laboratories, are the major factors that anticipated to propel the growth for the cannabis testing market in the forecast period. However, the stringent regulatory framework for cannabis and dearth of trained laboratory professionals is expected to act as a major challenges hindering the market growth in the forecast period.
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The major players operating in the market of cannabis testing include, Agilent Technologies, PerkinElmer, Inc., Shimadzu Corporation, SCIEX, Merck KGaA, Restek Corporation, Waters, CannaSafe Analytics, Accelerated Technology Laboratories, Inc.,
• To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global Cannabis Testing Market
• To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa)
Cannabis Testing Market report aims to provide a 360-degree view of the market in terms of cutting-edge technology, key developments, drivers, restraints and future trends with impact analysis of these trends on the market for short-term, mid-term and long-term during the forecast period. Further, the report also covers key players profiling with detailed SWOT analysis, financial facts and key developments of products/service from the past three years.
Global cannabis testing market, based on the services was segmented into potency testing, microbial analysis, residual solvent screening, heavy metal testing, pesticide screening, terpene profiling and genetic testing. In 2017, the potency testing segment held the largest and fastest growing segment of the market.
Approvals and agreements were observed as the most adopted strategy in global cannabis testing industry. Few of the organic developments, inorganic developments and others are listed below:
2018: In January, 2018, SCIEX Diagnostics, a division of SCIEX launched Citrine Triple Quad MS/MS and Citrine QTRAP MS/MS Systems for clinical diagnostics.
2017: In June, 2017, Waters Corporation received approval for Waters ACQUITY UPLC, ACQUITY UPLC I-Class System by Brazil'sNational Health Surveillance Agency (ANVISA).
2016: In September 2016, SCIEX entered into a collaboration with CW Analytical (CWAL) to develop fully validated standardized methods to measure pesticides and cannabinoids in Cannabis and Cannabis related products.
Besides this, the report analyzes factors affecting market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the market in these regions.
The report segments the global cannabis testing market as follows:
Global Cannabis Testing Market – By Type
Global Cannabis Testing Market – By Services
• Potency Testing
• Terpene Profiling
• Pesticide Screening
• Residual Solvent Screening
• Heavy Metal Testing
• Microbial Analysis
Global Cannabis Testing Market – By End User
• Testing Laboratories
• Drug Manufacturers
• Research Institutes
Global Cannabis Testing Market – By Geography
• North America
• Asia Pacific (APAC)
• Middle East & Africa (MEA)
o Saudi Arabia
o South Africa
• South and Central America (SCAM)
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