Cannabis Testing Market to Rise at Moderate CAGR of 11.9% CAGR Through 2025 - Agilent Technologies, PerkinElmer, Shimadzu Corporation, SCIEX, Merck KGaA, Restek and Waters

Cannabis Testing Market is expected to reach US$ 2,486.7 Mn in 2025 from 1,028.2 in 2017. The market is estimated to grow with a CAGR of 11.9% from 2017-2025.

Worldwide Cannabis Testing Market Analysis to 2027 is a specialized and in-depth study of the Cannabis Testing Industry with a focus on the global market trend. The report aims to provide an overview of global Cannabis Testing Market with detailed market segmentation by product/application and geography. The global Cannabis Testing Market is expected to witness high growth during the forecast period. The report provides key statistics on the Market status of the Cannabis Testing players and offers key trends and opportunities in the market.

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The market is driven by the legalization of the medical cannabis, for instance, United States is anticipated to be the main driving force of growth of use of medical cannabis. 30 states has legalized cannabis for the medical use. These 30 states comprises of 60% of total population and have approved use of medical marijuana. This has become the driving force for the growth of cannabis testing marked in the entire North America region. Currently more than 8000 active licenses for cannabis businesses in USA.

It is the only country with such number of market players. Europe is another region which has shown a decent growth rate for cannabis testing market. There has been an increase in the process of legalization of cannabis in European countries. Thus, considering the facts the market is likely to drive the market.

Top Leading Market Players:

1. Agilent Technologies, Inc.
2. PerkinElmer, Inc.
3. Shimadzu Corporation
4. Sciex (Danaher)
5. Merck KGaA
6. Restek Corporation
7. WATERS
8. CannaSafe Analytics
9. Accelerated Technology Laboratories, Inc.
10. Digipath Inc.

Key Benefits:

• 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).

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The global cannabis testing market by type was led by products. In 2017, the products segment held a largest market share of 73.7% of the cannabis testing market, by type. The products segment is expected to dominate the market in 2025 owing to the various product offering such as instruments, consumables, tools and equipment for the cannabis testing. The market is likely to grow due to the increasing cases of the consumption of the cannabis and hence, the products offering are likely to grow the market in the forecast period.

The cannabis testing market on the basis of the services is segmented as potency testing, terpene profiling, pesticide screening, residual solvent screening, heavy metal testing, microbial analysis and genetic testing. The market is majorly contributed by the potency testing which holds the 29.5% of the market share in 2017. The market expected to dominate by the potency testing in the 2025 by 31.9% of the market share.

The cannabis testing market by end user is segmented into sting laboratories, drug manufacturers, and research institutes. The testing laboratories segment is anticipated to grow at a CAGR of 12.4% during the forecast period. The market is likely to drive sue to the increasing volume routine and specialty testing.

The report segments the global cannabis testing market as follows:

Global Cannabis Testing Market - By Type

• Products
• Software

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

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Reasons to Buy the Report :

• Learn about the driving factors, affecting the market growth.
• Imbibe the advancements and progress in the market during the forecast period.
• Understand where the market opportunities lies.
• Compare and evaluate various options affecting the market.
• Pick up on the leading market players within the market.
• Envision the restrictions and restrains that are likely to hamper the market.

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This release was published on openPR.