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Cannabis Testing Services Market: New Business Opportunities and Investment Research Report 2018-2026

09-18-2019 04:07 PM CET | Health & Medicine

Press release from: Coherent Market Insights - Pharmaceutical Industry

Cannabis Testing Services

Cannabis Testing Services

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.

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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.

Increasing Research & Development Activities in Cannabis and Establishment of New Cannabis Testing Labs is expected to Drive Growth of the Cannabis Testing Service Market

Increasing research and development activities in cannabis to improve the productivity and quality of cannabis product is major driving force for the global cannabis testing service market growth. For instance, in November 2018, a team of researchers at the University of Guelph investigated technologies that can help in growing better quality marijuana. The team focused on controlled environment production of medical marijuana, with proprietary plant-growing technology, using chambers to monitor and regulate all variables throughout the growth.

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Global Cannabis Testing Service Market - Competitive Landscape

Key players operating in the global cannabis testing service market include, SC Laboratory, Eurofins Scientific, EVIO Labs, ProVerde Laboratories, Inc., Praxis laboratory Cascadia Labs, Encore labs, SGS Canada Inc., Pharm Labs LLC, and Agricore Laboratories.

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.
Global Cannabis Testing Services Market, By End User: Cannabis Firms, Homecare Settings, Research Institutes.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave, #3200
Seattle, WA 98154
Tel: +1–206–701–6702
Email: sales@coherentmarketinsights.com

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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