Cannabis Testing Market: Approval of cannabis for medical and recreational purpose to drive growth (Key Players: Agilent Technologies Inc., Shimadzu Corporation, Thermo Fisher Scientific Inc., PerkinElmer Inc.)

Cannabis drug testing describes various drug test methodologies for the use of cannabis in medicine, sport, and law. Cannabis use is highly detectable and can be detected by urinalysis, hair analysis, as well as saliva tests for days or weeks. The market is expected to boost during the forecast period for the methodology and test procedures.

The global Cannabis TestingMarketwas valued at USD 926.3 million in 2017 and is projected to reach USD 2182.75million by 2027, growing at a CAGR of 13.2% from 2017 to 2027 as highlighted in a new report.

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Key players operating in the cannabis testing market include Agilent Technologies, Inc., Shimadzu Corporation, 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.

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this 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.

New product launches and collaboration by key players are expected to drive growth of the cannabis testing market. Key players are launching new products for testing the cannabis using various tests, which would provide efficient and direst solutions to cannabis testing in turn fueling growth of the cannabis testing market. increasing number of the labs getting accreditation that provide cannabis testing facilities for different parameters is expected to drive the market growth.

Market Drivers
o Increasing Legalization of Medical Cannabis
o Growing Number of Cannabis Testing Laboratories
o Increasing Awareness Through Conferences, Symposia, and Workshops

Global Cannabis TestingMarket, by Type:
o Potency Testing
o Terpene Profiling
o Residual Solvent Screening
o Microbial Analysis
o Pesticide Screening
o Heavy Metal Testing
o Genetic Testing

Key Takeaways of the Cannabis Testing Market:

o The global cannabis testing market is expected to exhibit a CAGR of 13.2% over the forecast period, owing to increasing number of economies legalizing cannabis for medicinal and recreational purpose along with increasing number of labs facilitating cannabis testing.
o Among products, analytical instruments segment dominated the market, owing to the new product launches with dedicated cannabis analyzing facility to check for its potency. Among the analytical instruments, liquid chromatography with mass spectrometry segment is projected to dominate the market due to affordability and dedicated products it offers for cannabis testing.
o Amongst service type, potency testing segment is expected to dominate the market over forecast period due to high demand for cannabis, as medicinal ingredient and regulatory requirement that demands quality testing of cannabis before using in medicinal and recreational purpose.

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Table of Content
1 INTRODUCTION OF GLOBAL CANNABIS TESTINGMARKET
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 GLOBAL CANNABIS TESTINGMARKETOUTLOOK
5 GLOBAL CANNABIS TESTING MARKET, BY END USER
6 GLOBAL CANNABIS TESTING MARKET, BY PRODUCT AND SOFTWARE
7 GLOBAL CANNABIS TESTING MARKET, BY TYPE
8 GLOBAL CANNABIS TESTINGMARKET, BY GEOGRAPHY
9 GLOBAL CANNABIS TESTINGMARKETCOMPETITIVE LANDSCAPE
10 COMPANY PROFILES
10.1 Agilent Technologies, Inc.
10.1.1 Overview
10.1.2 Financial Performance
10.1.3 Product Outlook
10.1.4 Key Developments
11 Appendix

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