Cannabis Testing Services Market 2020 Distributors/Traders, Strategy Analysis, Marketing Channel With Forecasted Data | Eurofins Scientific, EVIO Labs, ProVerde Laboratories, Inc.

Cannabis Testing Services Market Report evaluated the historical and current performance of the market, especially highlighting the key trends and growth opportunities. Cannabis Testing Services market report discussed this scenario of market size with reference to volume and share. Cannabis Testing Services market report contains the expansion pattern by the corporate, applications, types, and regions from 2020 -2025. Cannabis Testing Services market report also covers an in-depth analysis of the competitive landscape, future development trends, and key manufacturers of the industry. The recovery from COVID-19 is also being shared through this report discussed with the expertise in the industry.

Key players operating in the global cannabis testing service market include, SC Laboratory, Eurofins Scientific, EVIO Labs, ProVerde Laboratories, Inc., Praxis laboratory Cascadia Labs, Encore labs, SGS Canada Inc., Pharm Labs LLC, and Agricore Laboratories.

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Cannabis market is highly influenced by rigorous legalization efforts, which are aiming for approval of cannabis for medicinal or recreational purpose. Various governments and regulatory authorities are taking efforts to legalize cannabis, owing to its medicinal benefits. Moreover, commercialization of cannabis-based products under the legalized standards require successful cannabis testing, which further results in lucrative growth opportunity for market players.

Market Dynamics

Cannabis testing service market is expected to witness significant growth over the forecast period, owing to legalization of cannabis for medicinal and recreational activities in key regions. For instance, in 2018, the parliament of Canada passed a law legalizing nationwide use of marijuana for recreational purposes. Furthermore, in February 2016, the Australia government amended the Narcotics Drugs Act 1967 to allow cultivation of cannabis for medicinal or scientific purposes under a national licensing scheme, which is expected to favour growth of the commercial manufacturing of cannabis in different regions of Australia.

Increasing Research & Development Activities in Cannabis and Establishment of New Cannabis Testing Labs is expected to Drive Growth of the Cannabis Testing Service Market

Increasing research and development activities in cannabis to improve the productivity and quality of cannabis product is major driving force for the global cannabis testing service market growth. For instance, in November 2018, a team of researchers at the University of Guelph investigated technologies that can help in growing better quality marijuana. The team focused on controlled environment production of medical marijuana, with proprietary plant-growing technology, using chambers to monitor and regulate all variables throughout the growth.

Moreover, the research also involved sensors attached to the plants to analyze the plants’ response to different types of management strategies. This approach allowed the team to produce organically grown, pesticide-free, high-yielding strains of cannabis, in addition to consistent generation of high-quality products in every batch.

Key players in the market are focused on establishment of novel state-of-art cannabis testing laboratories in key regions to provide a wide range of services in cannabis testing, which is expected to drive growth of the cannabis testing service market. For instance, in April 2018, Gala Pharmaceutical, Inc. announced its plans to build its first state-of-the-art testing laboratory that will meet the new ISO requirements set by the City of Long Beach and the State of California, U.S. in accordance with the Medical Marijuana Regulation and Safety Act.

In December 2018, Gala Pharmaceutical California Inc., a subsidiary of Gala Pharmaceutical, Inc. received a Temporary License from the State of California to construct its flagship cannabis testing facility in Long Beach, California, U.S.

Important Features that are under Offering and Key Highlights of the Reports:

A complete analysis, which has an assessment of the parent market
Additionally, the market has been evaluated using the SWOT and ValueChain Analysis.
This analysis is conducted by following product benchmarking, positioning, and monitoring the top competitors within the market
Historical, present, and projected size of the market from the standpoint of both value and volume
It offers a comprehensive analysis of North America, Europe, Asia-Pacific, and LAMEA to know the regional trends.
Reporting and evaluation of the latest industry developments

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The study objectives of Cannabis Testing Services Market report are:

To analyze and forecast the market size of Cannabis Testing Services, in terms of value and volume.
To provide strategic profiling of key players within the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
To classify and forecast Global Cannabis Testing Services based on the product, application, distribution, and regional distribution.
To provide past, present and forecast revenue of the market segments and sub-segments of four main geographies and their countries- North America, Europe, Asia, etc. and the rest of the world
To conduct the pricing analysis for Cannabis Testing Services.
To provide country-level analysis of the marketplace for segment by application, product type, and sub-segments.

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