MarketStudyReport.com Adds New Cannabis Testing Market 2019 – 2025 research report providing information and data By Technology, By Test Type, By Service Provider, Industry Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast spreading across 180 Pages with table and figures in it.
Delaware, Selbyville - August 12, 2019 /MarketersMedia/ —
The Netherlands cannabis testing market is forecasted to expand at 20.2% CAGR during the analysis period. The country is one of the leading producers and exporters of cannabis and hemp for medical uses, thus providing lucrative growth opportunities. Moreover, various conducive regulatory norms and high demand for medical use of cannabis across the country will further augment market growth.
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Growing investment in R&D for exploring the medical use of cannabis will positively affect the cannabis testing market. For instance, UJI Capital announced donation of USD 9 million to Harvard and Massachusetts Institute of Technology for conducting research on cannabinoids. Growing recognition of various medicinal use of cannabis coupled with increasing legalization of cannabis for medical use will positively affect the market growth.
Cannabis Testing Market will exceed USD 2.0 billion by 2025; as per a new research report. Growing number laboratories providing cannabis testing services due to high demand for providing safe and high-quality products for medical use will spur the global cannabis testing market growth. For instance, the Bureau of Cannabis Control issued 26 temporary licenses for testing laboratories in California as of March 2018, although the current requirement is almost double. High demand for cannabis testing by cultivators and manufacturers will be the major factor leading to market growth in the future.
However, absence of uniform testing standards across various countries and complicated regulatory norms will hinder the market growth. Also, high cost of testing equipment will hamper the market growth.
Chromatography segment accounted for the largest market share of 62.4% in 2018. Various advantages of chromatography technique such as high sensitivity and ease of separation will boost the segmental growth. Furthermore, launch of technologically advanced equipment for performing various analytical and quality tests of cannabis will positively affect the chromatography segment growth in the future.
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Potency testing segment is forecasted to expand at 13.9% CAGR during the projected timeframe. Increase in legalization of medical use of cannabis coupled with rise in number of hemp and marijuana cultivators will drive segmental growth. Additionally, stringent regulatory and government norms to ensure safety of medical cannabis will spur the potency testing segmental growth.
Industry players having a strong foothold include Anresco, Anandia Labs, CW Analytical Laboratories, CannaSafe Analytics, Eirlab, Digipath, Phytovista Laboratories, EVIO, Pure Analytics, SC Labs, Steep Hill, University of Mississippi, Battelle Memorial Institute and University of Alberta. Additionally, geographical expansion in developed as well as developing economies by these companies enable them to serve a broader customer base.
Cannabis testing laboratories segment accounted for USD 599.5 million in 2018. Growing demand for sample testing across various countries that legalized medical use of marijuana will foster segment growth. Also, the growing government support in terms of funding for improving cannabis testing infrastructure coupled with strict regulations to ensure patient safety and product quality will enhance market growth.
U.S. cannabis testing market held a majority of the market share of 61.2% in the year 2018. Increasing legalization of cannabis cultivation on account of growing recognition of cannabis uses will drive cannabis testing market in the country. Also, increasing number of testing laboratories to support the growing demand of cannabis cultivators will lead to market growth.
Table of content:
Chapter 1. Methodology
1.1. Methodology
1.2. Market definition
1.3. Forecast parameters
1.4. Data sources
1.4.1. Secondary
1.4.1.1. Paid sources
1.4.1.2. Unpaid sources
1.4.2. Primary
Chapter 2. Executive Summary
2.1. Cannabis testing industry 360 degree synopsis, 2014 - 2025
2.1.1. Business trends
2.1.2. Technology trends
2.1.3. Test type trends
2.1.4. Service provider trends
2.1.5. Regional trends
Chapter 3. Cannabis Testing Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2014 - 2025
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Growing demand for cannabis legalization in several countries for medical purposes
3.3.1.2. Increasing research on various medical use of cannabis
3.3.1.3. Growing number of cannabis testing laboratories in various emerging markets
3.3.2. Industry pitfalls & challenges
3.3.2.1. Lack of uniformity in quality standards
3.3.2.2. High cost of laboratory equipment
3.4. Growth potential analysis
3.4.1. By technology
3.4.2. By test type
3.4.3. By service provider
3.5. Regulatory scenario
3.6. Porter's analysis
3.7. Competitive landscape, 2018
3.7.1. Strategy dashboard
3.8. PESTEL analysis
Chapter 4. Cannabis Testing Market, By Technology
Chapter 5. Cannabis Testing Market, By Test Type
Chapter 6. Cannabis Testing Market, By Service Provider
Chapter 7. Cannabis Testing Market, By Region
Chapter 8. Company Profiles
More Details on this Report At: https://www.marketstudyreport.com/reports/cannabis-testing-market#2
Related Report:
Global Cannabis Testing Market Size, Status and Forecast 2019-2025
The increasing use of cannabis for medical purposes is one of the major factors driving the global cannabis testing market. Cannabis used for medicinal purposes is referred to as medical marijuana or medical cannabis. In this case, the whole, unprocessed cannabis plant or its extracts are used to treat a variety of symptoms and conditions. Medical cannabis contains many compounds that are collectively referred to as cannabinoids. The two main compounds are tetrahydrocannabinol (THC) and Cannabidiol (CBD). Though there are several other types of cannabinoids in cannabis strains, THC and CBD are the most abundant compounds. These compounds mainly address pain symptoms in multiple diseases.
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