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How Much Will The Global Cannabis Testing Market Grow By 2028?

New York, United States, Jan. 14, 2022 (GLOBE NEWSWIRE) — “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 – 2028” is the title of the latest analysis report that Facts and Factors has recently added to their research database.

“Recent research shows that the demand for global Cannabis Testing Market size & share was about USD 1,490.09 Million in 2021 and is predicted to reach around USD 2,920.60 Million, by 2026, with a compound annual growth rate (CAGR) of approximately 11.2% from 2021 to 2028.”

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Our Free Sample Report Consists of the following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2021 updated report.
  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
  • About 210+ Pages Research Report (Including Recent Research)
  • Provide detailed chapter-by-chapter guidance on Request
  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2021
  • Includes Tables and figures have been updated
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
  • Facts and Factors research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

The expansion of the Cannabis Testing Market was primarily fueled by an increase in R&D expenditures around the globe; however, the recent COVID-19 epidemic and economic downturn have altered the entire market statistics of many sectors around the world. The Cannabis Testing Market is no exception to this rule. Governments around the world took drastic steps, such as lockdowns, border closures, and the implementation of tight social distancing protocols, in an attempt to halt the rapid spread of the COVID-19 virus. These moves had a significant impact on the global economy, causing numerous industries to suffer. When evaluating the current and prospective market sizes and growth trends of the market for all regions and countries, the impact of COVID-19 on market demand is taken into account.

Cannabis testing market research report is a professional and in-depth investigation that focuses on market share, leading segments, primary and secondary drivers, production, and geographical analysis of the market in discussion (such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa.)

Cannabis Testing Market Coverage & Overview:

Cannabis testing is a type of drug testing that uses chromatographic or analytical testing to discover active components such as Terpene and cannabinoids in cannabis products. Furthermore, the legalization of cannabis in a growing number of countries increased public awareness through programs such as conferences and seminars, and developments in the systems used for cannabis testing are all contributing to the growth of the worldwide cannabis testing market.

Major Market Players

  • Thermo Fischer Scientific
  • DigiPath Inc.
  • Steep Hill Inc.
  • Agilent Technologies Inc.
  • Shimadzu Corporation
  • SC Laboratories Inc.
  • PharmaLabs LLC
  • GreenLeaf Lab
  • Saskatchewan Research Council (SRC)
  • SGS CanadaInc.
  • Danaher Corporation
  • PerkinElmer
  • Waters Corporation

Key questions answered in this report:

  • What is the size of the cannabis testing market and what is its expected growth rate?
  • What are the primary driving factors that push the cannabis testing market forward?
  • What are the Cannabis Testing Industry’s top companies?
  • What are the different categories that the Cannabis Testing Market caters to?
  • What will be the fastest-growing segment or region?
  • In the value chain, what role do essential players play?
  • What is the procedure for getting a free copy of the cannabis testing market sample report and company profiles?

Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2021−2028
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
  • Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by Regions
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Global Cannabis Testing Market: Dynamics

  • Market trends will be driven by the Legalization of cannabis for medical and recreational purposes

The acceptance of medicinal cannabis products is increasing as a result of the legalization of these products, which will drive the market’s growth over the predicted timeframe. Furthermore, considerable research activities taking place across the medical cannabis industry will continue to influence market trends in the future.

Also expected to increase demand is the use of medicinal cannabis for the aim of reducing nausea after chemotherapy or appetite stimulation in AIDS patients for the purpose of regulating muscle spasms. Additionally, the increase in the approval of cannabis-based medications, combined with the launch of new products, will drive the expansion of the cannabis testing market during the period from 2021 to 2028, according to the report.

Recent Industry Developments:

  • November 2021: Shimadzu Corporation released LabSolutions MD, analytical method development software for high-performance liquid chromatography (HPLC).
  • December 2021: Agilent Technologies Inc. announces compatibility of Agilent Cary 3500 UV-Vis Spectrophotometer with Agilent OpenLab software suite. It will help to meet global regulatory requirements by protecting, managing, and storing data from the Cary 3500 UV-Vis.

Global Cannabis Testing Market: Report Scope

Report Attribute Details
Market Size in 2021 USD 1,490.09 Million
Projected Market Size by 2028 USD 2,920.60 Million
CAGR Growth Rate 11.2% CAGR
Base Year 2020
Forecast Years 2021-2028
Key Market Players Thermo Fischer Scientific, DigiPath, Inc., Steep Hill, Inc., Agilent Technologies, Inc., Shimadzu Corporation, MERCK KGAA, SC Laboratories, Inc., PharmaLabs LLC, GreenLeaf Lab, Saskatchewan Research Council (SRC), SGS Canada, Inc., Danaher Corporation, PerkinElmer, and Waters Corporation
Key Segment By Types of Services, By End-User Services, and By Region
Major Regions Covered North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa
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Cannabis Testing Market: Segmentation Analysis

The global cannabis testing market is segmented on the basis of types of services, end-user services, and regions.

  • Potency testing to dominate the Types of Services segment

The potency testing segment accounted for the greatest proportion of the worldwide cannabis testing market in terms of revenue. Growing drug investigation services, expanding medical applications of cannabis, and an increase in the number of toxicological laboratories are all contributing to the industry’s expansion.  Additionally, during the period 2021–2028, the market for potency testing is expected to increase at a quicker rate.

  • Cannabis cultivators/growers segment to lead the end-user services landscape

According to the industry, the enormous testing of cannabis products for their usage in both medicinal and recreational uses has contributed to the segment’s growth. As per industry analysts, strict laws imposed by various governments on companies to develop high-quality cannabis products, as well as the requirement to ensure patient safety, will further accelerate the expansion of the cannabis growers/cultivators segment between 2021 and 2028.

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Regional Analysis:

  • North America will dominate the regional market in terms of revenue share from 2021 to 2028

It is anticipated that the growing number of states in the United States that have approved the medicinal use of cannabis, in addition to Canada’s legalization of the drug, will contribute to further expansion of the cannabis testing sector in North America. Aside from this, the increased presence of a number of competitors in Canada and the United States will serve to further fuel the expansion of the regional market throughout the projection period.

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 – 2028” Report at https://www.fnfresearch.com/cannabis-testing-market-by-product-software-products-and-165

The global cannabis testing market is segmented into:

Global Cannabis Testing Market: By Types of Services Analysis

  • Potency Testing
  • Terpene Profiling
  • Heavy Metal Testing
  • Pesticide Screening
  • Microscopy Testing
  • Residual Solvent Screening
  • Others

Global Cannabis Testing Market: By End-User Services Analysis

  • Cannabis Drug Manufacturers
  • Cannabis Cultivators/Growers
  • Others

Key Insights from Primary Research

  • According to an analysis shared by our research team, the cannabis testing market is projected to grow yearly at a CAGR of around 11.2% from 2021 to 2028.
  • As per primary research, it was stated that the cannabis testing market was valued at around USD 1,490.09 Million in 2021and will achieve revenue of around USD 2,920.60 Million by 2028.
  • On the basis of the types of services segment, the potency testing segment will show maximum market share from 2021to 2028.
  • On the basis of the end-user services segment, cannabis cultivators/growers are expected to witness the largest market share during 2021-2028.
  • Based on Geography, “North America” is predicted to witness the largest market share by 2028.

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Source: Globenewswire