Polaris Market Research & Consulting shared a research report on “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”.
As per research conducted by Polaris Market Research, the global cannabis testing service market size & share was valued at USD 1.15 billion in 2019 and is expected to touch USD 3.4 Billion by 2027, growing at a CAGR of 14.9% during the forecast period.
What are Cannabis Testing Services? How Big is Cannabis Testing Service Market?
Cannabis, also known as marijuana, is an herbal drug from the cannabis plant. The dried leaves, flowers, stems, and seeds from the hemp plant, cannabis sativa is referred to as cannabis or marijuana. It is commonly used for multiple sclerosis (MS) and nerve pain, as well as for nausea, vomiting, migraine, and many other conditions. Cannabis testing service is the process of examining a sample of cannabis to determine cannabinoids (CBD), tetrahydrocannabinol (THC), and terpene levels, as well as other mind-altering chemicals.
Only certified chemists and technicians can perform this testing. According to a report, the Association of Commercial Cannabis Laboratories (ACCL) is currently handling the management of 30 of the 40-50 cannabis testing service labs in the U.S. An increase in adulteration in cannabis-based products, the increasing number of cannabis testing labs in developed countries is driving the growth of the cannabis testing service market.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Key Highlights of the Report
- A comprehensive analysis, which includes an evaluation of the parent market
- Significant changes in market dynamics
- Second or third-level market segmentation
- Historical, present, and predicted market size of the market from the viewpoint of both volume and value
- Reporting and assessment of industry developments
- Strategies and market shares of significant players
Some of the Top Players in the Global Market Are:
- Shimadzu Corporation
- Agilent Technologies
- PerkinElmer Inc.
- Millipore Sigma
- AB Sciex LLC (a Danaher Company)
- Restek Corporation
- Thermo Fisher Scientific Inc.
- Waters Corporation
- Fritsch Milling
- Accelerated Technology Laboratories
- CannaSys Inc.
- PharmLabs LLC
- Guardian Data Systems Inc.
- Lab Lynx Inc.
- Steep Hill Halent Laboratories
- DigiPath Inc.
- SC Laboratories
- CannaSafe Analytics
- CW Analytical Laboratories
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Key Growth Driving Factors
An increase in incidences of contamination is fuelling the growth of the cannabis testing service market. Various regulatory organizations are focusing on establishing maximum quantity limits on residual solvents, insecticides, pesticides, heavy metals, microbes, and mycotoxins for examining individual samples. Also, strong government guidelines across countries are expected to positively influence the cannabis testing service industry’s growth.
The increase in demand for cannabis legalization in several nations for healthcare purposes is another factor boosting the demand for cannabis testing services. In the US, 25 states have legalized medical cannabis, while four, including Colorado, Washington, Oregon, and Alaska have legalized cannabis for medical and recreational use. Rising collaborations between major companies are also anticipated to bolster market development.
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The potency testing segment dominated the market
On the basis of service, the global cannabis testing service market is segmented into potency testing service, terpene profiling service, heavy metal testing service, pesticide screening service, microscopy testing service, residual solvent screening service, and others. The potency testing segment dominated the market with the largest revenue share in 2019. The key factors contributing to the cannabis testing service market growth include a surge in the application of potency test techniques, including high-performance liquid chromatography, gas chromatography, cannabinoids, and the Tetrahydrocannabinol (THC) in both cultivated and recreational cannabis.
The cannabis/growers segment led the market.
On the basis of end-use, the cannabis testing service market is categorized into drug manufacturers, cultivators/growers, and research institutes & labs. The cannabis cultivators/growers dominated the market with the largest revenue share owing to the restriction introduced on the THC content above the assigned levels.
Cannabis Testing Services Market: Key Report Scope
|Market Outlook for 2027||USD 3.4 Billion|
|Market Size 2019 Value||USD 1.15 Billion|
|Expected CAGR Growth||14.9% from 2020 – 2027|
|Forecast Year||2020 – 2027|
|Top Market Players||Shimadzu Corporation, Agilent Technologies, PerkinElmer, Inc., Millipore Sigma, AB Sciex LLC (a Danaher Company), Restek Corporation, Thermo Fisher Scientific, Inc., Waters Corporation, Fritsch Milling, Accelerated Technology Laboratories, CannaSys, Inc., PharmLabs, LLC, Guardian Data Systems, Inc., Lab Lynx, Inc., Steep Hill Halent Laboratories, DigiPath, Inc., SC Laboratories, CannaSafe Analytics, and CW Analytical Laboratories|
|Segments Covered||By Service, By End Use, By Region|
|Customization Options||Customized purchase options are available to meet your research needs. Explore customized purchase options|
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North America witnessed the largest share in the market
Based on geography, the North America region holds the largest revenue share, followed by Europe and the Asia Pacific. The positive legal structure and the availability and accessibility of labs are the major contributors to the cannabis testing service market’s growth. Also, the rising use of cannabis in research and development activities is also expected to boost the market growth. Further, Europe is expected to show the highest growth during the forecast period.
Other growth factors boosting the regional market growth of cannabis testing services include the increasing presence of cannabis cultivators and the presence of labs according to the guidelines issued by the government. Also, Canada and the U.S. is the hub for most of the cannabis producers who have acquired the majority of labs in the region to stay competitive.
Browse the Detail Report “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” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/cannabis-testing-service-market
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- In 2018, the U.S. government introduced the “Farm Bill” to legalize hemp cultivation in the country.
- In 2020, Agilent Technologies Inc. launched Cannabis and Hemp Potency Kit.
Polaris Market Research has segmented the cannabis testing service market report on the basis of service type, end-use, and region
Cannabis Testing Service Market: By Service Outlook
- Potency Testing
- Terpene Profiling
- Heavy Metal Testing
- Pesticide Screening
- Microscopy Testing
- Residual Solvent Screening
Cannabis Testing Service Market: By End Use Outlook
- Drug Manufacturers
- Research Institutes & Labs
Cannabis Testing Service Market: By Region Outlook
- 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)
Important Questions Being Answered by the Market Report
- What is the cannabis testing service market size and growth?
- What are the prominent and latest trends impacting the market?
- What can be the best structure and tools for PESTLE analysis?
- Which regions will observe growth on new occasions?
- Which are the technologies that are game-changing and are used to apprehend contemporary revenue streams shortly?
- Which players are adopting a functioning and planned framework to obtain customer loyalty?
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