Cannabis Testing Market Expected to Increase Highest Revenue by 2025-Agilent Technologies, PerkinElmer, Shimadzu, Merck, Restek Corporation

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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Key Players:

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

Cannabis Testing Market, based on the type is segmented into product and services. The product segment is further bifurcated into analytical instruments and consumables segments. In 2017, the product segment witnesses the fastest and largest share. Additionally, the software segment is anticipated to grow at a significant rate during the forecast period.

The market players are focused towards bringing new and innovative product launches to sustain their position in the market. For instance, in January 2018, SCIEX Diagnostics, a division of SCIEX launched Citrine Triple Quad MS/MS and Citrine QTRAP MS/MS Systems for clinical diagnostics.

The target audience for the report on the Cannabis Testing Market

- Manufactures
- Market analysts
- Senior executives
- Business development managers
- Technologists
- R&D staff
- Distributors
- Investors
- Governments
- Equity research firms
- Consultants

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.

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This release was published on openPR.