Cannabis Testing Market to Grow at a CAGR of 14.1% during the Forecast Period | Leading Players: Waters Corporation, Agilent Technologies, Inc., Shimadzu Corporation, Millipore Sigma

The Global Cannabis Testing Market size was valued at USD 1.2 billion in 2019 and is anticipated to grow at a CAGR of 14.1% during the forecast period. The legalization of medical cannabis and the number of cannabis testing laboratories (particularly in the United States), the use of LIMS in cannabis testing laboratories, and increased awareness are factors driving this market forward. The market's growth is expected to be hampered by a lack of uniformity in rules and regulations, high prices, and insufficient staff.

Increasing demand for cannabis testing services as a result of an increase in contamination cases is a major driver of market growth. Heavy metals from the soil, bacteria, molds, and pesticides are among the pollutants that cannabis plants are exposed to during their cultivation phase. These pollutants are unfit for human consumption and may cause serious casualties and respiratory diseases in consumers. For testing plant samples, several regulatory agencies have begun setting maximum quantity limits on residual solvents, insecticides, pesticides, heavy metals, microbes, and mycotoxins. It resulted in the opening of a slew of new laboratories, particularly in areas where cultivation is booming.

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Growth Drivers that Support the Global Cannabis Testing Market:

• Based on mode of service, the potency-testing segment is expected to expand with the highest market share and CAGR over the forthcoming years. A growing number of cannabis cultivators is due to the high growth, which can result in fierce competition to produce higher quality medicinal cannabis for the patient population.

• In the coming years, North America is predicted to dominate the global cannabis research industry. This is due to the increasing legalization of cannabis for medicinal purposes in many countries throughout the country. Aside from that, the cannabis testing market in the area is likely to be driven by the increasing demand for cannabis for personal use.

• Over the forecast era, Europe is expected to be the fastest-growing country. The increasing legalization of cannabis in major European countries, as well as the increasing use of the plant in drug production and research, are expected to drive the demand for cannabis testing services. Furthermore, the cannabis industry in the area is tightly regulated, with most countries prohibiting products containing more than 0.3 percent THC. As a result, market growth is expected over the forecast period.

• Cannabis was notorious for its addictive and intoxicating properties. As a result, cannabis sales and production have been outlawed in many parts of the world. However, numerous studies on the overall composition of cannabis have shown that it has a variety of medicinal properties and can be used to treat chronic and fatal diseases such as cancer. Increasing investment in cannabis research and development has opened up a slew of new possibilities for cannabis use. As a result, the demand for cannabis testing equipment has grown.

• Various organizations accredit cannabis research laboratories in the United States that conduct scientific testing on marijuana and cannabis-derived products. Since cannabis product testing is required to demonstrate the products' safety and effectiveness, the increasing demand for cannabis testing would increase the number of laboratories offering cannabis testing services.

• During the COVID-19 closure or lockdown, cannabis research practises continued in a few states, including California and New York. This was required to conduct cannabis research for both medicinal and COVID-19 treatment purposes. Furthermore, the efficacy of cannabis extracts needs more large-scale validation, and researchers expect to conduct additional experiments on their novel high- C. Sativa lines. The extracts may, for example, be used in a mouthwash or "throat gargle" to avoid COVID-19 infection, according to the testing results.

Recent Developments in the Global Market:

• DigiPath acquired VSSL Enterprises Ltd., a provider of agritech consulting solutions for cannabis genetics, tissue culture, production, analytical research, and predictive software, in 2020. DigiPath's global capacity to provide technical services in germplasm production, tissue culture, and cultivation will be enhanced as a result of the acquisition.

• Agilent Technologies Inc. will release a Cannabis and Hemp Potency Kit in 2020.

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Major companies functioning in the global Cannabis Testing Market are Waters Corporation, Agilent Technologies, Inc., Shimadzu Corporation, Millipore Sigma, PerkinElmer, Inc., AB SCIEX LLC, Steep Hill Labs, Inc., Restek Corporation, SC Laboratories, Inc., Digipath Labs, Inc., PharmLabs, and CannaSafe Analytics.

Market Segmentation:

By Product
• Analytical Instruments
• Consumables
• Software

By Mode of Services
• Potency Testing
• Terpene Profiling
• Pesticide Screening

By End User
• Laboratories
• Research Institute
• Drug Manufacturer
• Cultivators

By Region:

North America
o By Country (US, Canada, Mexico)
o By Product
o By Mode of Services
o By End User

Western Europe
o By Country (Germany, UK, France, Italy, Spain, The Netherlands, Rest of Western Europe)
o By Product
o By Mode of Services
o By End User

Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Product
o By Mode of Services
o By End User

Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Product
o By Mode of Services
o By End User

Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Product
o By Mode of Services
o By End User

Rest of the World
o By Region (South America, Africa)
o By Product
o By Mode of Services
o By End User

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