Latest Innovative Report on Cannabis Testing Market with Global Insights, Structure, Industry Survey, Recent Trends, Opportunities and Forecast to 2027

Cannabis testing market is expected to grow in the coming years, owing to the factors such as, legalization of medical cannabis, increasing awareness through conferences, symposia, and workshops and growing adoption of LIMS in cannabis testing laboratories.

However, the stringent regulatory framework for cannabis and dearth of trained laboratory professionals act as a restraint for this market. On the other hand, advances in cannabis testing equipments likely to add novel opportunities for cannabis testing market, in the coming years.

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According to a new market research study titled 'Cannabis Testing Market to 2025 - Global Analysis and Forecasts by Type, Services and End User, Global Cannabis Testing is expected to reach US$ 2,486.7 Million by 2025

Companies Mentioned:

Agilent Technologies, PerkinElmer, Inc., Shimadzu Corporation, SCIEX, Merck KGaA, Restek Corporation, Waters, CannaSafe Analytics, Accelerated Technology Laboratories, Inc., Digipath Labs and among others

What the report features:-

- Global analysis of Cannabis Testing market from 2019-2027 illustrating the progression of the market.

- Forecast and analysis of Cannabis Testing market by Dosage, Route of Administration and Application from 2019-2027.

- Forecast and analysis of Cannabis Testing market in five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America.

Asia Pacific was the fastest growing geographic market and it is expected to be the fastest revenue generator during the forecast period. Asia Pacific market was driven by the factors such as large population countries such as China and India, increasing number of accidents with cannabis intoxication, adoption of trends from western regions in terms of legalization of medical and recreational use of cannabis.

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Strategic Insights

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.

CANNABIS TESTING – MARKET SEGMENTATION

By Type

• Products
• Software

By Services

• Potency Testing
• Terpene Profiling
• Pesticide Screening
• Residual Solvent Screening
• Heavy Metal Testing
• Microbial Analysis

By End User

• Testing Laboratories
• Drug Manufacturers
• Research Institutes

Mergers and Acquisitions

The cannabis businesses in the US are small independently-held entities. Various companies, such as food, tobacco and pharmaceutical industries were held back by regulatory concerns, but are now expected to enter the market. Cannabis business are small due to stringent regulations for import and export.

Companies that want to expand to other regions must establish cultivation, manufacturing and selling infrastructure in new location, or form a partnership with other company in the other state. For instance, in 2018, some of the multi-state operators acquired additional licensed operators in new locations to enhance its presence.

Legalization of medical cannabis is anticipated to drive the market for cannabis testing over the forecast period.

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Key Benefits of Buying this Research Study:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Cannabis Testing Market

• Highlights key business priorities in order to assist companies to realign their business strategies

• The key findings and recommendations highlight crucial progressive industry trends in the Cannabis Testing Market, thereby allowing players across the value chain to develop effective long term strategies

• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it

• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

• Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South America.

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This release was published on openPR.