Cannabis Testing Market Will Generate New Growth Opportunities in Upcoming Year | Shimadzu Corporation, SCIEX, Merck KGaA, Restek Corporation, Waters, CannaSafe Analytics

An off-the-shelf report on Cannabis Testing Market which has been compiled after an in-depth analysis of the market trends prevailing across five geographies (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). Various segments of the market such as type/components/ application/industry verticals/ end-users are analyzed with robust research methodology which includes three step process starting with extensive secondary research to gather data from company profiles, global/regional associations, trade journals, technical white papers, paid databases etc. followed by primary research (interviews) with industry experts/KOLs to gain their insights and views on current scenarios and future scope of the market as well as validating the secondary information, further internal statistical model is used to estimate the market size and forecasts till 2025.

The global cannabis testing market accounted to US$ 1,028.2 Mn in 2017 and is expected to grow at a CAGR of 11.9% during the forecast period 2018 - 2025, to account to US$ 2,486.7 Mn by 2025.

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Some of the key players profiled in the study are Agilent Technologies, PerkinElmer, Inc., Shimadzu Corporation, SCIEX, Merck KGaA, Restek Corporation, Waters, CannaSafe Analytics, Accelerated Technology Laboratories, Inc., Digipath Labs, etc.

The research provides answers to the following key questions:
1. What is the estimated growth rate of the market for the forecast period 2020-2025? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the Cannabis Testing market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Cannabis Testing market?
4. What are the prominent market trends influencing the development of the Cannabis Testing market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the Cannabis Testing market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?

Market Insights
Legalization of Medical Cannabis
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.

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.

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BIS TESTING - MARKET SEGMENTATION
By Type
o Products
o Software

By Services
o Potency Testing
o Terpene Profiling
o Pesticide Screening
o Residual Solvent Screening
o Heavy Metal Testing
o Microbial Analysis

By End User
o Testing Laboratories
o Drug Manufacturers
o Research Institutes

By Geography
o North America
o U.S.
o Canada
o Mexico

o Europe
o France
o Germany
o UK

o Asia Pacific (APAC)
o China
o India
o Japan

o Middle East & Africa (MEA)
o Saudi Arabia
o South Africa
o UAE

o South America (SAM)
o Brazil

The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries including Medical Device, Pharmaceutical, Healthcare and many more. Trade barriers are further restraining the demand- supply outlook. As government of different regions have already announced total lockdown and temporarily shutdown of industries, the overall production process being adversely affected; thus, hinder the overall Cannabis Testing Market globally. This report on 'Cannabis Testing Market' provides the analysis on impact on Covid-19 on various business segments and country markets. The report also showcase market trends and forecast to 2025, factoring the impact of Covid -19 Situation.

The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the global landscape. The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Cannabis Testing market. The researcher provides an extensive analysis of the Cannabis Testing market size, share, trends, overall earnings, gross revenue, and profit margin to accurately draw a forecast and provide expert insights to investors to keep them updated with the trends in the market.

Competitive scenario:
The study assesses factors such as segmentation, description, and applications of Cannabis Testing industries. It derives accurate insights to give a holistic view of the dynamic features of the business, including shares, profit generation, thereby directing focus on the critical aspects of the business.

Scope of the Report
The research on the Cannabis Testing market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor's methodologies. The research also segments the Cannabis Testing market on the basis of end user, product type, application, and demography for the forecast period 2021-2025. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.

Cannabis Testing Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

Major highlights of the report:
All-inclusive evaluation of the parent market
Evolution of significant market aspects
Industry-wide investigation of market segments
Assessment of market value and volume in past, present, and forecast years
Evaluation of market share
Study of niche industrial sectors
Tactical approaches of market leaders
Lucrative strategies to help companies strengthen their position in the market

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