New Jersey, United Kingdom, Nov. 26, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Cannabis Testing Market By Types of Services (Potency Testing, Terpene Profiling, Heavy Metal Testing, Pesticide Screening, Microscopy Testing, Residual Solvent Screening, & Others), By End-User Services (Cannabis Drug Manufacturers, Cannabis Cultivators/Growers, & Others), And By Regions – Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” in its research database
“According to the latest research study, the demand of global Cannabis Testing Market size & share expected to reach to USD 1,964 Million by 2026 from USD 894 Million in 2020, at a compound annual growth rate (CAGR) of 12.9% during the forecast period 2021 to 2026”
What is Cannabis Testing? Report Overview & Coverage:
Cannabis drug testing is the methodology that is used to describe the use of cannabis in the sector of medicine, sports, and law. The usage of cannabis into human anatomy is highly detectable and can be detected by urinalysis, hair analysis, as well as saliva tests over a period of days or even weeks in some cases after consumption. The most common form of test used for detecting cannabis usage is known as the Duquenois-Levine test and is often incorporated as a screening test in order to definitively confirm the presence of cannabis.
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Industry Major Market Players
- Agilent Technologies Inc.
- Shimadzu Corporation
- MERCK KGAA
- Thermo Fischer Scientific
- DigiPath Inc.
- Steep Hill Inc.
- SC Laboratories Inc.
- PharmaLabs LLC
- GreenLeaf Lab
- Saskatchewan Research Council (SRC)
- SGS Canada Inc.
- Danaher Corporation
- Waters Corporation
Key questions answered in this report:
- What is the projected market size & growth rate of the Cannabis Testing Market?
- What are the key driving factors for the growth of the Cannabis Testing Market?
- What are the top companies operative in Cannabis Testing Market?
- What segments are covered in Cannabis Testing Market?
- How can I get free sample reports/company profiles of the Cannabis Testing Market?
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Market Growth Factors
The driving factors for the significant rise of the global cannabis testing market are the legalization of medical cannabis in many parts of the globe coupled with the rising number of cannabis testing laboratories to name a few. Additionally, increasing adoption of LIMS in cannabis testing laboratories coupled with rising awareness about regulated amounts of medical cannabis is expected to increase the footprint of the global cannabis testing market during the forecast period. Moreover, the global cannabis testing market is expected to be driven by factors pertaining to reducing nausea caused by chemotherapy measures, stimulating appetite in AIDS patients, controlling muscular spasms in multiple sclerosis patients, and reducing intraocular pressure in patients with glaucoma is expected to open new revenue opportunities during the forecast period.
Additionally, the ongoing trend suggests removing of legislative actions by emerging economies across LATAM and the MEA regions coupled with increasing investments by the private and personal sector is expected to push the boundaries of the global cannabis testing market during the forecast period. Favorable government policies coupled with the increasing number of key players are expected to increase the consumer base for the global cannabis testing market during the forecast duration. However, a certain lack of uniformity in rules and regulations among the usage and testing of cannabis coupled with higher costs is expected to hamper the growth of the global cannabis testing market during the forecast period.
Global Cannabis Testing Market: Report Scope
|Market Size 2020 Value
|USD 894 Million
|Market Forecast for 2026
|USD 1,964 Million
|Expected CAGR Growth
|CAGR 12.9% from 2021-2026
|Top Market Players
|Agilent Technologies, Inc., Shimadzu Corporation, MERCK KGAA, Thermo Fischer Scientific, DigiPath, Inc. and Others
|Types of Services, End-Users, and Region
|North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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The global cannabis testing market is divided into potency testing, terpene profiling, heavy metal testing, pesticide screening, microscopy testing, residual solvent screening, and others on the basis of types of services. The segment pertaining to potency testing is expected to witness the largest market share during the advent of the forecast owing to effective potency testing techniques such as gas chromatography and high-performance liquid chromatography (HPLC) coupled with an increasing number of testing cannabinoids such as CBD (Cannabidiol) and Tetrahydrocannabinol (THC) to name a few. Additionally, an increasing number of quality checks for cannabinoids coupled with increasing export activities is expected to cement the dominant market position of the latter segment during the forecast period. On the basis of end-user, the global cannabis testing market is broken down into cannabis drug manufacturers, cannabis cultivators/growers, and others. The segment pertaining to cannabis cultivators/growers are expected to witness the largest market share during the advent of the forecast owing to increasing signing agreements with testing laboratories and research centers coupled with favorable government policies to name a few. Additionally, rising product launches from these growers/cultivators coupled with the rising number of approved manufacturers and wholesalers are expected to cement the latter segment at a dominant market position during the forecast period.
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North America is expected to witness the largest market share during the advent of the forecast owing to the rising number of testing laboratories coupled with rigorous guidelines set by the government for marijuana cultivators to name a few. Additionally, the rising number of key market players in the region coupled with an increasing number of cultivators is expected to increase the consumer base for the cannabis testing market during the forecast period. The region of Europe is expected to occupy a substantial amount of market share after the subsequent region owing to the rising legalization measures in the region of Europe and the increasing investment in research and development activities to name a few.
Browse the full “Cannabis Testing Market By Types of Services (Potency Testing, Terpene Profiling, Heavy Metal Testing, Pesticide Screening, Microscopy Testing, Residual Solvent Screening, & Others), By End-User Services (Cannabis Drug Manufacturers, Cannabis Cultivators/Growers, & Others), And By Regions – Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” Report at https://www.fnfresearch.com/cannabis-testing-market-by-product-software-products-and-165
This report segments the global cannabis testing market as follows:
Global Cannabis Testing Market: By Types of Services Analysis
- Potency Testing
- Terpene Profiling
- Heavy Metal Testing
- Pesticide Screening
- Microscopy Testing
- Residual Solvent Screening
Global Cannabis Testing Market: By End-User Services Analysis
- Cannabis Drug Manufacturers
- Cannabis Cultivators/Growers
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