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Cannabis Testing Market set to witness surge in demand over the forecast period of 2018-2026

10-29-2020 06:50 AM CET | Health & Medicine

Press release from: Transarency Market Research

Cannabis Testing Market

Cannabis Testing Market

Cannabis Testing Market: Overview

Cannabis testing involves use of several medical devices to detect the quality of cannabis. This helps to identify the applications of cannabis for several medical purposes. Previously, both cultivation and sales of cannabis were ban across the globe until 1900. Now many countries are recognizing the benefits of cannabis for medicinal purposes and revoking their ban. This is expected to drive the global cannabis testing market during the forecast period.

The global cannabis testing market is broadly divided into two that is test type and end-user. Based on test type, cannabis testing can be segmented into terpene profiling, pesticide screening, potency testing, residual solvent screening, genetic testing, microbial analysis, and heavy metal testing. In terms of end-user, the cannabis testing market can be segmented into laboratories, drug manufacturers, research institutes, and cultivators. Along with this, federal departments are also one of the end-users of the cannabis testing market. Among all of them drug manufacturers holds high potential for the growth of cannabis testing market.

A recently launched report on the global cannabis testing market by TMR will offer a detailed analysis of cannabis testing market to readers. It will help readers with several drivers, restraints, challenges and trends of the market. The report on cannabis testing is important for stakeholders directly or indirectly associated with the market. The regional outlook, competitive landscape and key segments of the cannabis testing market will help readers frame a better analysis on pivotal aspects of the market during the forecast period 2018- 2026.

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Global Cannabis Testing Market: Market Potential and Key Trends

Cannabis was ill-famous for its habit forming and intoxicating nature. Due to this, both sales and cultivation of cannabis were banned in several parts of the world. However, several research on overall composition of cannabis has showed that cannabis has several medical properties and can be used for treatment of chronic and deadly disease like cancer. Rising investments in research and development of cannabis has opened several prospects for the use cannabis. This, in turn, has fueled the cannabis testing equipment market.
However, several countries in Asia Pacific still prohibit commercialization of cannabis. This is limiting the growth of the cannabis testing market in the region. However, with increasing research and development chances of revoking of ban on cannabis are high in these countries. This will open a lucrative avenue for the growth of the cannabis testing market in future.

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Global Cannabis Testing Market: Geographical Outlook

Geographically, the global cannabis testing market can be segmented based into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Among all of them, North America is expected to dominate the global cannabis testing market in the forecast years. This is because of the growing legalization of cannabis in several countries of the region for medical purpose. Apart from this, growing demand of cannabis for personal use is likely to drive the cannabis testing market in the region.

Global Cannabis Testing Market: Competitive Landscape

Some of the key players operating in the global cannabis testing market are Agilent Technologies, Inc., Waters Corporation, Shimadzu Corporation, PerkinElmer, Inc., Millipore Sigma, AB SCIEX LLC, Restek Corporation, Steep Hill Labs, Inc.,SC Laboratories, Inc., PharmLabs, Digipath Labs, Inc., and CannaSafe Analytics.

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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
• Customer Experience Maps
• Insights and Tools based on data-driven research
• Actionable Results to meet all the business priorities
• Strategic Frameworks to boost the growth journey

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Transparency Market Research is a global market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for several decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts so that it always reflects latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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