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Important Thing You Need To Know About Cannabis Testing Market in Upcoming Market 2026 | Shimadzu Corporation, Agilent Technologies, Inc., Thermo Fisher Scientific, Inc.

06-06-2019 07:44 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Worldwide Market Reports

In-detial Cannabis Testing Market Report 2018-2026:
Cannabis Testing is done for various purpose such as finding concentration of active ingredient (cannabinoids, terpene), which determines the medical potency of the cannabis. It is also tested for determining various other ingredient in given sample.Cannabis testing also involves determination of contaminants such as fungi and bacteria (mycotoxins), which could causes serious pulmonary infections if administered unchecked.

Cannabis Testing Market Overview:
The global cannabis testing market size was valued at US$ 926.3 million in 2017, and is expected to witness a CAGR of 13.2% over the forecast period to 2026.

The Report pdf Brochure available at www.worldwidemarketreports.com/sample/213727

Approval of cannabis for medical and recreational purpose to drive growth of the cannabis testing market:

Since recent past, cannabis have been extensively researched for its medicinal applications in treatment of chronic pain, arthritis, digestion problem, epilepsy, and other neurological disease. This research is resulting into legalization of cannabis in many parts of the world and introduction of cannabis-based pharmaceutical products. For instance, in July 2017, 18 states in the U.S. allowed the use of Cannabidiol (CBD) extract, majorly in oil form with minimal tetrahydrocannabinol (THC) content to be used for the treatment of epilepsy or seizures in adversely affected children.

States in U.S. such as California, Nevada, Maine, and Massachusetts voted positive to legalize the recreational use of cannabis in November 2016. Therefore, legalization would result into requirement of quality testing of cannabis, which is expected to drive growth for cannabis testing market. Cannabis are often contaminated with heavy metals and pesticide residue due to cultivation at different area and applying different processing techniques therefore it is necessary to check for amount of this material in the given sample of cannabis.

Companies are also collaborating with different stakeholders in cannabis testing industry. For instance, in 2016, AB SCIEX Inc. and CW Analytical collaborated to develop first cannabis quality and potency testing standards. This would help overall industry as currently there are no universal standards for cannabis profiling. In 2017, Shimadzu Corporation, Cure Pharma and CK Science entered into agreement to research and develop safe cannabis-based pharmaceutical product. As a part of the agreement, Shimadzu would help set standards and provide analytical instruments for developing safer products.

Increased approval for cannabis-based drugs and new product launches for cannabis testing are expected to propel growth of the cannabis testing market:
Various cannabis manufacturer across globe are focused on introducing the cannabis products to target various disease, which in turn is expected to promote application of cannabis testing instruments, as this products need to be approved from the health regulatory bodies for their efficacy and purity. For instance, in May 2018, the U.S Food and Drug Administration (FDA) approved the medication, called Epidiolex manufactured by GW Pharmaceuticals to treat two rare forms of epilepsy caused by Lennox-Gastaut and Dravet syndromes in patients two years and older.

In July 2016, Insys Therapeutics, Inc. received U.S.FDA approval for dronabinol oral solution- Syndros, which is an orally administered liquid formulation of cannabinoid dronabinol. The Syndros is indicated for treatment of anorexia associated with weight loss among patients suffering from AIDS and patients suffering from cancer chemotherapy-induced nausea and vomiting.

Key players operating in the cannabis testing market include - Shimadzu Corporation, Agilent Technologies, Inc., Thermo Fisher Scientific, Inc., PerkinElmer, Inc., Millipore Sigma, AB SCIEX LLC, Cannabix Technologies, Inc., Waters Corporation, Steep Hill Labs, Inc., CannaSafe Analytics, Accelerated Technology Laboratories, Inc., LabLynx, Inc., SC Laboratories Inc., GenTech Scientific, Pharm Labs, LLC, and Digipath Labs, Inc.

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About Worldwide Market Report:
Worldwide Market Reports is your one-stop repository of detailed and in-depth market research reports compiled by an extensive list of publishers from across the globe. We offer reports across virtually all domains and an exhaustive list of sub-domains under the sun. The in-depth market analysis by some of the most vastly experienced analysts provide our diverse range of clients from across all industries with vital decision making insights to plan and align their market strategies in line with current market trends. Worldwide Market Research’s well-researched inputs that encompass domains ranging from IT to healthcare enable our prized clients to capitalize upon key growth opportunities and shield against credible threats prevalent in the market in the current scenario and those expected in the near future.

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