Cannabis Testing Services Market to Surpass US$ 4,256.9 Million with CAGR of 14.2% by 2028 | Thermo Fisher Scientific Inc., Merck KGaA, Shimadzu Corporation, PerkinElmer, Inc., Steep Hill Labs, Inc

Many companies now offer cannabis testing services. In fact, the demand for such tests is growing, especially as adult recreational and medical cannabis become legal in many states. The industry requires robust analytical testing for product quality and safety, and the need for such testing has never been greater. The most commonly tested analytes are cannabinoids, terpenes, heavy metals, pesticides, and microorganisms, among other substances. A number of laboratories provide cannabis testing. With government support and a lack of cannabis-testing providers, the cannabis testing market is seeing increased growth. The lack of standardized testing methods makes it more difficult for consumers to trust marijuana products. For this reason, a regulated and standardized cannabis testing system is essential

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The global cannabis testing services market is expected to be valued at US$ 1,675.9 million in 2021 and is expected to exhibit a CAGR of 14.2% during the forecast period (2021-2028).

Growingapproval for cannabis-based drugs is driving global cannabis testing services market growth

Increasing cannabis-based drugs approvals are expected to drive the market growth. For instance, in August 2020, GW Pharmaceuticals plc., the world leader company in science and development, along with its U.S. subsidiary Greenwich Biosciences, Inc., declared that the U.S. Food and Drug Administration (FDA) had approved EPIDIOLEX (cannabidiol) oral solution to treat seizures associated with tuberous sclerosis complex (TSC) in patients one year of age and older.

New product launches are projected to propel the global cannabis testing services market growth over the forecast period.

The increasing focus of major market players for new product launches is projected to fuel the global cannabis testing services market growth over the forecast period. For instance, in March 2021, in Germany, Stade Arzneimittel, a pharmaceutical company had announced the introduction of its medicinal cannabis portfolio under the CannabiStada brand which includes medical cannabis. The organization had released both flowers and entire extracts of cannabis, particularly for chronic pain patients who have failed to respond to conventional medicines such as opioids. Stada Arz is one of the first companies in German market to launch medicinal cannabis with the launch of cannabistada.

Global Cannabis Testing Services Market – Impact of Coronavirus (COVID-19) Pandemic

Many businesses and companies in the cannabis testing services market have seen their operations and financial performance suffer as a result of the COVID–19 epidemic which resulted in the slowing of global research activity. The negative impact is mostly due to the closure of academic and research institutes, as well as testing laboratories. As a result, the number of cannabis tests done in laboratories has decreased.

Furthermore, various key players such as Merck KGaA, Shimadzu Corporation and PerkinElmer, Inc. in the global cannabis testing services market, which provide products and software to the cannabis testing industry, observe a drop in sales of instruments and consumables. As a result of lab closures, a decrease in the number of cannabis tests executed as well as certain limitations on the import and export of cannabis testing products. These factors contributed to a decrease in the sales of consumables and instruments used in the cannabis testing industry, stifling market growth.

Global Cannabis Testing Services Market: Restraint

Factor such as lack of standardized testing procedures is expected to hinder the global cannabis testing services market growth. The growing demand for safe cannabis products has resulted the need of cannabis quality control testing facilities. However, several products fail to meet the standard criteria. According to California’s Bureau of Cannabis Control (BCC), in September 2018, approximately 32.9 percent of foods, tinctures, and lotion samples, as well as 20.4 percent of inhalable oils and waxes samples failed laboratory examination. Additionally, there are certification problems for makers of infused goods because there are different rules and regulations stating the standardization method of the equipment. As a result, depending on the laboratory where a sample is examined, it might give a variety of outcomes is projected to hamper the market growth.

Key Players

Major players operating in the global cannabis testing services market include Thermo Fisher Scientific Inc., Merck KGaA, Shimadzu Corporation, PerkinElmer, Inc., Steep Hill Labs, Inc., CB Scientific Inc., Alpha-CAT, Orange Photonics, Inc., Gobi Labs, MyDx, Inc., SC Laboratories Inc., Restek Corporation, Waters Corporation, PharmLabs LLC, Eurofins Scientific, EVIO Labs, ProVerde Laboratories, Inc., Praxis Laboratory, Atlantic Test Labs, Inc., American Clinical Solutions, LLC., MCR Labs, Cannalysis, Aurum  Laboratory, LLC, The Niva Labs, Encore Labs, SGS Canada Inc., Agricore Laboratories, California Cannabis Testing Labs

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Table of Content

Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Cannabis Testing Services Market Size Analysis from 2021 to 2028
11.6 COVID-19 Outbreak: Cannabis Testing Services Industry Impact

Chapter 2 Global Cannabis Testing Services Competition by Types, Applications, and Top Regions and Countries
2.1 Global Cannabis Testing Services (Volume and Value) by Type
2.3 Global Cannabis Testing Services (Volume and Value) by Regions

Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis

Chapter 4 Global Cannabis Testing Services Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Cannabis Testing Services Market Analysis
Chapter 6 East Asia Cannabis Testing Services Market Analysis
Chapter 7 Europe Cannabis Testing Services Market Analysis
Chapter 8 South Asia Cannabis Testing Services Market Analysis
Chapter 9 Southeast Asia Cannabis Testing Services Market Analysis
Chapter 10 Middle East Cannabis Testing Services Market Analysis
Chapter 11 Africa Cannabis Testing Services Market Analysis
Chapter 12 Oceania Cannabis Testing Services Market Analysis
Chapter 13 South America Cannabis Testing Services Market Analysis
Chapter 14 Company Profiles and Key Figures in Cannabis Testing Services Business
Chapter 15 Global Cannabis Testing Services Market Forecast (2021-2027)
Chapter 16 Conclusions
Research Methodology