21-Jun-2022 | Zion Market Research
The global cannabis testing market was valued at around USD 1.35 billion in 2021 and is estimated to grow to about USD 10.86 billion by 2028, with a compound annual growth rate (CAGR) of approximately 19.8 percent over the forecast period.
Cannabis which is also called marijuana along with other names is a form of psychoactive drug which affects the nervous system and alters perception, mood, behavior, and cognition. Cannabis is used for recreational as well as medicinal purposes. Out of the 483 compounds present in the cannabis plant, Tetrahydrocannabinol (THC) is the main component. Cannabis can be used in either of the following ways: smoking, within food, vaporizing, and extracting.
Cannabis testing involves the various drug testing methods in fields where cannabis intake is involved like sports, medicine, and law. The usage of cannabis is easily detected through methodologies like saliva tests and hair & urine analysis. A lot of countries have set up their cannabis testing facilities given the wide array of cannabis use.
Covid-19 harmed the global market and the number of tests conducted for cannabis declined considerably. Partial or complete closure of small-scale testing facilities or pharmaceutical companies as well as supply chain disruption was one of the major reasons for the slow growth registered by the global industry in 2020–2021. However, with the Covid-19 situation being under control, the global market is showing signs of growth.
Cannabis can be legally used in countries like Canada, Malta, Mexico, South Africa, and others for medicinal purposes owing to the effectiveness of the product. The legality is in terms of possession, cultivation, and distribution. The cannabis-related policies in these regions are regulated by 3 of the treaties by the UN, namely: the Single Convention on Narcotics Drugs, the Convention on Psychotropic Substances, and the Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances. Some of the countries where the use of cannabis is not legal have adopted a decriminalization policy according to which simple possession is a non-criminal offense. The legalization and decriminalization of medical cannabis in heavily populated countries are expected to propel the global cannabis testing market forward. Along with this the rising number of cannabis testing facilities in countries like the USA, and the adoption of Laboratory Information Management Systems are expected to aid the global market growth.
The global cannabis testing market may be hampered by a lack of universal testing standards while the growing necessity of heavy metal testing for cannabis is likely to provide growth opportunities. A challenging factor in the global market could be the high cost associated with the set-up of cannabis testing laboratories.
The global cannabis testing market is divided based on technology, test type, and region. Based on the technology, the global market is split into spectroscopy and chromatography. By test type, the market is categorized into mycotoxin testing, terpene testing, heavy metal testing, residual solvent screening, pesticide screening, and potency testing.
The global cannabis testing market is expected to be dominated by North America owing to the presence of large-scale cultivators and the opening of multiple cannabis testing facilities. Medicinal legalization along with intensive investments in technologically advanced laboratories in these regions are also a major contributing factor to regional growth. Some of the other reasons for the regional rise are the strong economies of countries like the USA & Canada, surging biobanks, and stringent regulatory requirements across industries
Europe is expected to register a high CAGR during the forecast period because of rising decriminalization in multiple regions as well as high R&D in European territories.
Asia Pacific countries like India, China, Japan, and Singapore along with the Middle Eastern countries are showing massive growth potential in the global cannabis testing market for producers who are not able to meet the regulatory demands in the North American region for cannabis production. Because of low-cost production in Asian territories, a shift in preference is observed amongst manufacturers towards countries like India and China.
Some of the dominant players that are functioning in the global cannabis testing market are Thermo Fisher Scientific, MERCK KGAA, Shimadzu Corporation, Agilent Technologies, Inc., PharmLabs LLC, SC Laboratories, Inc., Steep Hill Inc., DigiPath, Inc., GreenLeaf Lab, and CW ANALYTICAL, among others.
Browse the full “Cannabis Testing Market By Technology (Chromatography And Spectroscopy), By Test Type (Potency Testing, Pesticide Screening, Residual Solvent Screening, Heavy Metal Testing, Terpene Testing, And Mycotoxin Testing), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/cannabis-testing-market
Global cannabis testing market is segmented as follows:
By Test Type
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