DUBLIN–(BUSINESS WIRE)–The “Global Cannabis Testing Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast, 2019-2028” report has been added to ResearchAndMarkets.com’s offering.
The global cannabis testing market is estimated to grow at a CAGR of 11.3% during the forecast period.
Cannabis testing is a process of measuring active ingredients and major chemical compounds in the given sample of cannabis. The testing also includes the detection of fungi and bacteria, leading to infections if not tested. The key active ingredients that have medicinal potency in cannabis are cannabinoids and terpene.
The testing of cannabis is carried out based on the concentration of active ingredients with the help of analytical equipment such as mass spectroscopy, liquid chromatography, gas chromatography, and others. The procedure helps to determine the pesticide residue content in the sample, hence defining purity and efficacy.
Since cannabis is used for medicinal purposes, government authorities demand quality testing of marijuana before using them for therapeutic purposes. The cannabis testing process includes sample and column preparation, identification of the analyte, identifying concentration, and separating analyte.
Top Driver:
Legalization of Cannabis for Medical Purposes and Growing Focus to Meet the Needs of Hemp and Cannabis Cultivators
The increasing use of cannabis for therapeutic purposes has led to the legalization of cannabis in several countries across the globe. The legalization of cannabis for medical purposes will fuel the growth of testing laboratories, thus leading to the huge development of the cannabis testing industry during the forecast period.
In addition to this, the growing focus to meet the needs of hemp and cannabis cultivators will further lead to an upsurge in several cannabis testing laboratory setups, thus propelling the market. Increasing expenditure on R&D activities for exploring new medical applications of cannabis will drive the cannabis testing market in the future. However, high costs associated with cannabis testing facilities due to costly equipment will hamper the cannabis testing market growth.
Spectroscopy Segment Estimated to Witness Significant Growth
The global cannabis testing market is segmented into chromatography and spectroscopy based on the technology type. The spectroscopy segment is expected to show significant growth during the forecast period. The increasing legalization of cannabis and its derivatives for both medical and recreational use will propel spectroscopy market growth. Mass spectrometers have a wide range of applications in cannabis testing, such as pesticide and heavy metal testing.
With surging demand for marijuana use in various medical applications, stringent quality control parameters are being implemented to ensure patient safety, thus driving the segment. Based on the method of testing the market is segmented into potency, heavy metal, terpene profiling, and others. Based on the end-user, the market is segmented into cannabis testing laboratories, cultivation, research institution, and drug manufacturers and dispensaries.
Growing Legalization of Cannabis in Several Countries to Benefit North America Market
Among all of them, North America is estimated to dominate the global cannabis testing market during the forecast years.
he growth is attributed to the growing legalization of cannabis in several countries of the region for medical purposes. In addition to this, the surging demand for cannabis for personal use is expected to drive the cannabis testing market in the region.
Players to Focus on Mergers & Acquisitions and Collaborations
Market players implemented various strategies such as mergers and acquisitions, collaborations, accreditations, and others to stay competitive in the market.
Company Profiles
- Anandia Labs
- Anresco
- CannaSafe Analytics
- CW Analytical Laboratories
- Digipath
- Eirlab
- EVIO
- Phytovista Laboratories
- Pure Analytics
- SC Labs
Scope of the Report
By Technology Type
- Chromatography
- Spectroscopy
- Others
By Method of Testing
- Potency
- Heavy metals
- Terpene profiling
- Others
By End-User
- Cannabis testing laboratories
- Cultivation
- Research institutions
- Drug manufacturers and dispensaries
By Region
- North America
- Europe
- Asia Pacific
- SAMEA
For more information about this report visit https://www.researchandmarkets.com/r/pfm7s9
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