The latest published report by Polaris Market Research. The global “Cannabis Testing Services Market Share, Size, Trends, Industry Analysis Report, By Service Type (Potency Testing, Terpene Profiling, Heavy Metal Testing, Pesticide Screening, Microscopy Testing, Residual Solvent Screening, and Others); By End-Use; By Regions; Segment Forecast, 2020 – 2027” the report covers an exhaustive list of market tables and figures, thus providing in-depth analytical data for segments across different regions.
The global cannabis testing service market was valued at USD 1.15 billion in 2019 and is expected to reach US$ 3.4 billion by 2027 and to grow at a CAGR of 14.9% during the forecast period (2020 – 2027). With the growing need to contain drug abuse and adulteration in cannabis, there is a strong need for quality testing labs in developed economies, this acts as a pivotal factor in boosting the sale of cannabis. Moreover, the positive scenario of scientific literature, clinical trials, and consumer awareness is creating a strong favorable narrative for the market.
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- The potency test segment is estimated to hold a major share in the global cannabis testing service industry, as the use of cannabis is rising in medicinal purposes. The segment is expected to witness significant growth over the forecast period.
- Based on end-use, the cannabis cultivators/growers’ segment is projected to constitute almost half of the market in 2027. The high share is attributed to the fact that most of the cultivator desire to have in-house testing capabilities.
- North America market accounted for the dominant share in 2019 in terms of revenue owing to the growing research & development in the field of hemp for medical use. In addition, the growing demand for marijuana in the healthcare industry is likely to complement market growth
North America region dominated the cannabis testing service market followed by Europe. An increase in legalization approvals for the use of marijuana coupled with several key players entering the market drives significant growth in the region. In the Asia Pacific, the availability of major testing laboratories and rising activities by regional drug manufacturers augmenting the market growth. Increasing use of the cannabis plant for drug research and development projects is among major factors helping the market to grow.
List of Key Players
- Shimadzu Corporation
- Agilent Technologies
- PerkinElmer, Inc.
- Waters Corporation
- CannaSys, Inc.
- PharmLabs, LLC
- Saskatchewan Research Council (SRC)
- Eurofins Scientific
- CW ANALYTICAL
- GreenLeaf Lab
- Praxis Laboratory
- SGS Canada Inc.
*Note: Additional companies can be included on request
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Table of Contents
Cannabis Testing Services Market Insights
Cannabis Testing Services Market Assessment by Service Type
- Potency Test
- Terpene Profiling
- Heavy Metal Test
- Pesticide Screening
- Microscopy Test
- Residual Solvent Screening
Global Cannabis Testing Services Market, by End Use
- Cannabis Drug Manufacturers
- Cannabis Cultivators/Growers
- Others (Research Institutes & Labs)
Cannabis Testing Services Market Assessment by Geography
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
List of Tables
Table 1 Global Cannabis Testing Services Market, By Service Type, 2016 – 2027 (USD Million)
Table 2 Global Cannabis Testing Services Market, By End Use, 2016 – 2027 (USD Million)
Table 3 Cannabis Testing Services Market Assessment, By Geography, 2016 – 2027 (USD Million)
List of Figures
Figure 1 Market Highlights (2019, Revenue)
Figure 2 Integrated Ecosystem
Figure 3 Research Methodology: Top Down & Bottom Up Approach
For Further Insights and Segment-Specific Information, Contact a Market Analyst at : https://www.polarismarketresearch.com/industry-analysis/cannabis-testing-service-market/speak-to-analyst
The report can be customized on the basis of regional analysis, segment analysis, industry outlook and competitive analysis. Some of the major focus points which are covered in the report include:
- Industry Trends, opportunity and challenges in the market
- Role of key players across the value chain
- End-User analysis to define the market strategy
- Competitive mapping
- Regional and country level breakdown
These insights are included in the report which would help you to have a realistic overview of the overall market including the competition, investment opportunities, restraints and challenges, regulatory factors which might affect the market growth. Moreover, the report would help to identify the regional market growth opportunities for different segments covered in the report.
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