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Cannabis Testing Market - by Product and Software (Products and Software (Cannabis LIMS)), by Method of Testing (Potency, Heavy Metal, Terpene Profiling, Microbial Analysis, Pesticide Screening, Residual Solvent Screening, and Genetic), and by End-User (Cannabis Testing Laboratories, Research Institutions, Cultivators, and Drug Manufacturers and Dispensaries): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024

Published Date: 29-Oct-2018 Category: Pharmaceutical Report Format : PDF Pages: 110 Report Code: ZMR-3422 Status : Published

Global Cannabis Testing market, which accrued revenue worth nearly 910 (USD Million) in 2017 and is slated to garner earnings worth 2,012 (USD Million) by 2024, is set to grow at a CAGR of nearly 12% during the period from 2018 to 2024.

Description

The global Cannabis Testing market, which accrued revenue worth nearly 910 (USD Million) in 2017 and is slated to garner earnings worth 2,012 (USD Million) by 2024, is set to grow at a CAGR of nearly 12% during the period from 2018 to 2024. The report offers valuation and analysis of the Cannabis Testing market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2015 to 2017 along with a forecast from 2018 to 2024 based on value (USD Million).

Introduction

Cannabis testing includes large-scale utilization of medical equipment for identifying cannabis quality for its medicinal use. Today, many countries have realized the significant benefits offered by cannabis along with its medical usage. Earlier, cannabis sales as well as its cultivation were banned by most of the countries. Many of the clinical studies on the herb have unleashed its medical properties and justified its effectives in treating chronic pain and dreaded ailments such as cancer. Apparently, huge funding of research activities pertaining to cannabis is likely to generate huge growth potential for cannabis testing market in the near future.

Market Growth Dynamics

Legalization of cannabis for medicinal use in the countries like the U.S., Canada, Australia, Brazil, Luxembourg, Argentina, Uruguay, Thailand, Sri Lanka, Zimbabwe, Ecuador, UK, Germany, Lebanon, Chile, Lithuania, Poland, Jamaica, Peru, Norway, Portugal, Denmark, Greece, New Zealand, and Switzerland will drive the market growth over the years to come. Apart from this, the approval for consumption or sale of cannabis in varying quantities for its medicinal use across various parts of the globe will prop the market demand over the forthcoming years. Rise in the acceptance of laboratory information management systems in cannabis testing labs is poised to offer lucrative growth opportunities for cannabis testing industry over the forecasting period. Apart from this, growing awareness about the medicinal benefits offered by cannabis among the people due to awareness programs disseminated through seminars, discussions, workshops, national debates on television, radio, & social media, and webinars will further spike the market size. Nonetheless, huge costs of the testing equipment and lack of trained lab assistants will constraint market growth in the years to come. Additionally, high initial cost incurred for setting up of cannabis testing labs even in the countries like the U.S. will further shrink market progression over the forthcoming years.

North American Market To Establish Dominant Position Over 2017-2024

The growth of the market in the sub-continent over the estimated timeframe is credited to legalization of cannabis herb for medicinal use in countries like the U.S. and Canada. In addition to this, massive demand for the product for personal utilization will drive the market penetration over the forthcoming years. Reportedly, there are nearly over 7,900 active licenses provided for cultivation & sales of the product in the U.S. and this will contribute notably towards the regional market earnings over forecast timeline.

Key participants influencing the market growth are CannaSys, Inc., AB SCIEX LLC, PharmLabs, LLC, Agilent Technologies, Inc., GenTech Scientific, Waters Corporation, PerkinElmer, Inc., Shimadzu Corporation, Millipore Sigma, and Cannabix Technologies, Inc.

his report segments the global cannabis testing market as follows:

Global Cannabis Testing Market: Products & Software Segment Analysis

  • Products
    • Analytical Instruments
      • Chromatography Instruments
        • Liquid Chromatography
        • Gas Chromatography
        • Others
      • Spectroscopy Instruments
        • Mass Spectrometry
        • Atomic Spectroscopy
      • Other Analytical Instruments
    • Consumables
      • Chromatography Columns
      • Standards & CRMS
      • Sample Preparation Products
      • Supplies & Accessories
  • Software (Cannabis LIMS)

Global Cannabis Testing Market: Method of Testing Segment Analysis

  • Potency
  • Heavy Metal
  • Terpene Profiling
  • Microbial Analysis
  • Pesticide Screening
  • Residual Solvent Screening
  • Genetic

Global Cannabis Testing Market: End-User Segment Analysis

  • Cannabis Testing Laboratories
  • Research Institutions
  • Cultivators
  • Drug Manufacturers and Dispensaries

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global cannabis testing market, 2015 - 2024 (USD Million)
    • 2.2. Global cannabis testing market: Snapshot
  •  
  • Chapter 3. Cannabis Testing Market- Dynamics
    • 3.1. Introduction
    • 3.2. Market drivers
      • 3.2.1. Global cannabis testing market drivers: Impact analysis
      • 3.2.2. Legalization of cannabis for medicinal and recreational activity
      • 3.2.3. Increased approval for cannabis-based drugs and new product launches for cannabis testing
      • 3.2.4. Growing adoption of LIMS in cannabis testing laboratories
      • 3.2.5. Increasing awareness through conferences, and workshops
    • 3.3. Market Restraints
      • 3.3.1. Global cannabis testing market restraints: Impact analysis
      • 3.3.2. The high cost of analytical instruments
      • 3.3.3. The dearth of trained laboratory professionals
    • 3.4. Opportunities
      • 3.4.1. Emerging Markets in Latin America and MEA
    • 3.5. Porter's five forces analysis
      • 3.5.1. Bargaining power of suppliers
      • 3.5.2. Bargaining power of buyers
      • 3.5.3. The threat from new entrants
      • 3.5.4. The threat from new substitutes
      • 3.5.5. Degree of competition
    • 3.6. Market attractiveness analysis
      • 3.6.1. Market attractiveness analysis, by products and software segment
      • 3.6.2. Market attractiveness analysis, by method of testing segment
      • 3.6.3. Market attractiveness analysis, by end-user segment
      • 3.6.4. Market attractiveness analysis, by regional segment
  •  
  • Chapter 4. Global Cannabis Testing Market- Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global cannabis testing market: company market share, 2017
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New material launch
      • 4.2.3. Agreements, partnerships, collaborations and joint ventures
      • 4.2.4. Research and development and regional expansion
  •  
  • Chapter 5. Global Cannabis Testing Market-Products & Software Segment Analysis
    • 5.1. Global cannabis testing market: Product & Software overview
      • 5.1.1. Global cannabis testing market revenue share, byproduct & software, 2017 and 2024
    • 5.2. Products
      • 5.2.1. Global cannabis testing market for products, 2015 - 2024 (USD Million)
    • 5.3. Software (Cannabis LIMS)
      • 5.3.1. Global cannabis testing market for software(Cannabis LIMS),2015 - 2024 (USD Million)
  •  
  • Chapter 6. Global Cannabis Testing Market- Method of Testing Segment Analysis
    • 6.1. Global cannabis testing market: Method of Testing overview
      • 6.1.1. Global cannabis testing market revenue share, by method of testing, 2017 and 2024
    • 6.2. Potency
      • 6.2.1. Global cannabis testing market for potency, 2015 - 2024 (USD Million)
    • 6.3. Heavy Metal
      • 6.3.1. Global cannabis testing market for heavy metal, 2015 - 2024 (USD Million)
    • 6.4. Terpene Profiling
      • 6.4.1. Global cannabis testing market for terpene profiling, 2015 - 2024 (USD Million)
    • 6.5. Microbial Analysis
      • 6.5.1. Global cannabis testing market for microbial analysis, 2015 - 2024 (USD Million)
    • 6.6. Pesticide Screening
      • 6.6.1. Global cannabis testing market for pesticide screening, 2015 - 2024 (USD Million)
    • 6.7. Residual Solvent Screening
      • 6.7.1. Global cannabis testing market for residual solvent screening, 2015 - 2024 (USD Million)
    • 6.8. Genetic Testing
      • 6.8.1. Global cannabis testing market for genetic testing, 2015 - 2024 (USD Million)
  •  
  • Chapter 7. Global Cannabis Testing Market- End-user Segment Analysis
    • 7.1. Global cannabis testing market: End-user overview
      • 7.1.1. Global cannabis testing market revenue share, by end-user, 2017 and 2024
    • 7.2. Cannabis Testing Laboratories
      • 7.2.1. Global cannabis testing market for cannabis testing laboratories, 2015 - 2024 (USD Million)
    • 7.3. Research Institutions
      • 7.3.1. Global cannabis testing market for research institutions, 2015 - 2024 (USD Million)
    • 7.4. Cultivators
      • 7.4.1. Global cannabis testing market for cultivators, 2015 - 2024 (USD Million)
    • 7.5. Drug Manufacturers and Dispensaries
      • 7.5.1. Global cannabis testing market for drug manufacturers and dispensaries, 2015 - 2024 (USD Million)
  •  
  • Chapter 8. Global Cannabis Testing Market- Regional Segment Analysis
    • 8.1. Global cannabis testing market: Regional overview
      • 8.1.1. Global cannabis testing market revenue share, by region, 2017 and 2024
    • 8.2. North America
      • 8.2.1. North America cannabis testing market, 2015 - 2024 (USD Million)
      • 8.2.2. North America cannabis testing market revenue, by products & software, 2015 - 2024 (USD Million)
        • 8.2.2.1. North America cannabis testing market revenue, by products, 2015 - 2024 (USD Million)
        • 8.2.2.2. North America cannabis testing market revenue, by analytical instruments, 2015 - 2024 (USD Million)
        • 8.2.2.3. North America cannabis testing market revenue, by consumables, 2015 - 2024 (USD Million)
      • 8.2.3. North America cannabis testing market revenue, by method of testing, 2015 - 2024 (USD Million)
      • 8.2.4. North America cannabis testing market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.2.5. The U.S.
        • 8.2.5.1. The U.S. cannabis testing market revenue, by products & software, 2015 - 2024 (USD Million)
          • 8.2.5.1.1. The U.S. cannabis testing market revenue, by products, 2015 - 2024 (USD Million)
          • 8.2.5.1.2. The U.S. cannabis testing market revenue, by analytical instruments, 2015 - 2024 (USD Million)
          • 8.2.5.1.3. The U.S. cannabis testing market revenue, by consumables, 2015 - 2024 (USD Million)
        • 8.2.5.2. The U.S. cannabis testing market revenue, by method of testing, 2015 - 2024 (USD Million)
        • 8.2.5.3. The U.S. cannabis testing market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.2.6. Canada
        • 8.2.6.1. Canada cannabis testing market revenue, by products & software, 2015 - 2024 (USD Million)
          • 8.2.6.1.1. Canada cannabis testing market revenue, by products, 2015 - 2024 (USD Million)
          • 8.2.6.1.2. Canada cannabis testing market revenue, by analytical instruments, 2015 - 2024 (USD Million)
          • 8.2.6.1.3. Canada cannabis testing market revenue, by liquid consumables, 2015 - 2024 (USD Million)
        • 8.2.6.2. Canada cannabis testing market revenue, by method of testing, 2015 - 2024 (USD Million)
        • 8.2.6.3. Canada cannabis testing market revenue, by end-user, 2015 - 2024 (USD Million)
    • 8.3. Europe
      • 8.3.1. Europe cannabis testing market, 2015 - 2024 (USD Million)
      • 8.3.2. Europe cannabis testing market revenue, by products & software, 2015 - 2024 (USD Million)
        • 8.3.2.1. Europe cannabis testing market revenue, by products, 2015 - 2024 (USD Million)
        • 8.3.2.2. Europe cannabis testing market revenue, by analytical instruments, 2015 - 2024 (USD Million)
        • 8.3.2.3. Europe cannabis testing market revenue, by consumables, 2015 - 2024 (USD Million)
      • 8.3.3. Europe cannabis testing market revenue, by method of testing, 2015 - 2024 (USD Million)
      • 8.3.4. Europe cannabis testing market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.3.5. UK
        • 8.3.5.1. UK cannabis testing market revenue, by products & software, 2015 - 2024 (USD Million)
          • 8.3.5.1.1. UK cannabis testing market revenue, by products, 2015 - 2024 (USD Million)
          • 8.3.5.1.2. UK cannabis testing market revenue, by analytical instruments, 2015 - 2024 (USD Million)
          • 8.3.5.1.3. UK cannabis testing market revenue, by consumables, 2015 - 2024 (USD Million)
        • 8.3.5.2. UK cannabis testing market revenue, by method of testing, 2015 - 2024 (USD Million)
        • 8.3.5.3. UK cannabis testing market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.3.6. Germany
        • 8.3.6.1. Germany cannabis testing market revenue, by products & software, 2015 - 2024 (USD Million)
          • 8.3.6.1.1. Germany cannabis testing market revenue, by products, 2015 - 2024 (USD Million)
          • 8.3.6.1.2. Germany cannabis testing market revenue, by analytical instruments, 2015 - 2024 (USD Million)
          • 8.3.6.1.3. Germany cannabis testing market revenue, by consumables, 2015 - 2024 (USD Million)
        • 8.3.6.2. Germany cannabis testing market revenue, by method of testing, 2015 - 2024 (USD Million)
        • 8.3.6.3. Germany cannabis testing market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.3.7. France
        • 8.3.7.1. France cannabis testing market revenue, by products & software, 2015 - 2024 (USD Million)
          • 8.3.7.1.1. France cannabis testing market revenue, by products, 2015 - 2024 (USD Million)
          • 8.3.7.1.2. France cannabis testing market revenue, by analytical instruments, 2015 - 2024 (USD Million)
          • 8.3.7.1.3. France cannabis testing market revenue, by consumables, 2015 - 2024 (USD Million)
        • 8.3.7.2. France cannabis testing market revenue, by method of testing, 2015 - 2024 (USD Million)
        • 8.3.7.3. France cannabis testing market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.3.8. Rest of Europe
        • 8.3.8.1. Rest of Europe cannabis testing market revenue, by products & software, 2015 - 2024 (USD Million)
          • 8.3.8.1.1. Rest of Europe cannabis testing market revenue, by products, 2015 - 2024 (USD Million)
          • 8.3.8.1.2. Rest of Europe cannabis testing market revenue, by analytical instruments, 2015 - 2024 (USD Million)
          • 8.3.8.1.3. Rest of Europe cannabis testing market revenue, by consumables, 2015 - 2024 (USD Million)
        • 8.3.8.2. Rest of Europe cannabis testing market revenue, by method of testing, 2015 - 2024 (USD Million)
        • 8.3.8.3. Rest of Europe cannabis testing market revenue, by end-user, 2015 - 2024 (USD Million)
    • 8.4. Asia Pacific
      • 8.4.1. Asia Pacific cannabis testing market, 2015 - 2024 (USD Million)
        • 8.4.2. Asia Pacific cannabis testing market revenue, by products & software, 2015 - 2024 (USD Million)
        • 8.4.2.1. Asia Pacific cannabis testing market revenue, by products, 2015 - 2024 (USD Million)
        • 8.4.2.2. Asia Pacific cannabis testing market revenue, by analytical instruments, 2015 - 2024 (USD Million)
        • 8.4.2.3. Asia Pacific cannabis testing market revenue, by consumables, 2015 - 2024 (USD Million)
      • 8.4.3. Asia Pacific cannabis testing market revenue, by method of testing, 2015 - 2024 (USD Million)
      • 8.4.4. Asia Pacific cannabis testing market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.4.5. China
        • 8.4.5.1. China cannabis testing market revenue, by products & software, 2015 - 2024 (USD Million)
          • 8.4.5.1.1. China cannabis testing market revenue, by products, 2015 - 2024 (USD Million)
          • 8.4.5.1.2. China cannabis testing market revenue, by analytical instruments, 2015 - 2024 (USD Million)
          • 8.4.5.1.3. China cannabis testing market revenue, by consumables, 2015 - 2024 (USD Million)
        • 8.4.5.2. China cannabis testing market revenue, by method of testing, 2015 - 2024 (USD Million)
        • 8.4.5.3. China cannabis testing market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.4.6. Japan
        • 8.4.6.1. Japan cannabis testing market revenue, by products & software, 2015 - 2024 (USD Million)
          • 8.4.6.1.1. Japan cannabis testing market revenue, by products, 2015 - 2024 (USD Million)
          • 8.4.6.1.2. Japan cannabis testing market revenue, by analytical instruments, 2015 - 2024 (USD Million)
          • 8.4.6.1.3. Japan cannabis testing market revenue, by consumables, 2015 - 2024 (USD Million)
        • 8.4.6.2. Japan cannabis testing market revenue, by method of testing, 2015 - 2024 (USD Million)
        • 8.4.6.3. Japan cannabis testing market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.4.7. India
        • 8.4.7.1. India cannabis testing market revenue, by products & software, 2015 - 2024 (USD Million)
          • 8.4.7.1.1. India cannabis testing market revenue, by products, 2015 - 2024 (USD Million)
          • 8.4.7.1.2. India cannabis testing market revenue, by analytical instruments, 2015 - 2024 (USD Million)
          • 8.4.7.1.3. India cannabis testing market revenue, by consumables, 2015 - 2024 (USD Million)
        • 8.4.7.2. India cannabis testing market revenue, by method of testing, 2015 - 2024 (USD Million)
        • 8.4.7.3. India cannabis testing market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.4.8. Rest of Asia Pacific
        • 8.4.8.1. Rest of Asia Pacific cannabis testing market revenue, by products & software, 2015 - 2024 (USD Million)
          • 8.4.8.1.1. Rest of Asia Pacific cannabis testing market revenue, by products, 2015 - 2024 (USD Million)
          • 8.4.8.1.2. Rest of Asia Pacific cannabis testing market revenue, by analytical instruments, 2015 - 2024 (USD Million)
          • 8.4.8.1.3. Rest of Asia Pacific cannabis testing market revenue, by consumables, 2015 - 2024 (USD Million)
        • 8.4.8.2. Rest of Asia Pacific cannabis testing market revenue, by method of testing, 2015 - 2024 (USD Million)
        • 8.4.8.3. Rest of Asia Pacific cannabis testing market revenue, by end-user, 2015 - 2024 (USD Million)
    • 8.5. Latin America
      • 8.5.1. Latin America cannabis testing market, 2015 - 2024 (USD Million)
      • 8.5.2. Latin America cannabis testing market revenue, by products & software, 2015 - 2024 (USD Million)
        • 8.5.2.1. Latin America cannabis testing market revenue, by products, 2015 - 2024 (USD Million)
        • 8.5.2.2. Latin America cannabis testing market revenue, by analytical instruments, 2015 - 2024 (USD Million)
        • 8.5.2.3. Latin America cannabis testing market revenue, by consumables, 2015 - 2024 (USD Million)
      • 8.5.3. Latin America cannabis testing market revenue, by method of testing, 2015 - 2024 (USD Million)
      • 8.5.4. Latin America cannabis testing market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.5.5. Brazil
        • 8.5.5.1. Brazil cannabis testing market revenue, by products & software, 2015 - 2024 (USD Million)
          • 8.5.5.1.1. Brazil cannabis testing market revenue, by products, 2015 - 2024 (USD Million)
          • 8.5.5.1.2. Brazil cannabis testing market revenue, by analytical instruments, 2015 - 2024 (USD Million)
          • 8.5.5.1.3. Brazil cannabis testing market revenue, by consumables, 2015 - 2024 (USD Million)
        • 8.5.5.2. Brazil cannabis testing market revenue, by method of testing, 2015 - 2024 (USD Million)
        • 8.5.5.3. Brazil cannabis testing market revenue, by end-user, 2015 - 2024 (USD Million)
      • 8.5.6. Rest of Latin America
        • 8.5.6.1. Rest of Latin America cannabis testing market revenue, by products & software, 2015 - 2024 (USD Million)
          • 8.5.6.1.1. Rest of Latin America cannabis testing market revenue, by products, 2015 - 2024 (USD Million)
          • 8.5.6.1.2. Rest of Latin America cannabis testing market revenue, by analytical instruments, 2015 - 2024 (USD Million)
          • 8.5.6.1.3. Rest of Latin America cannabis testing market revenue, by consumables, 2015 - 2024 (USD Million)
        • 8.5.6.2. Rest of Latin America cannabis testing market revenue, by method of testing, 2015 - 2024 (USD Million)
        • 8.5.6.3. Rest of Latin America cannabis testing market revenue, by end-user, 2015 - 2024 (USD Million)
    • 8.6. The Middle East and Africa
      • 8.6.1. The Middle East and Africa cannabis testing market, 2015 - 2024 (USD Million)
      • 8.6.2. The Middle East and Africa cannabis testing market revenue, by products & software, 2015 - 2024 (USD Million)
        • 8.6.2.1. The Middle East and Africa cannabis testing market revenue, by products, 2015 - 2024 (USD Million)
        • 8.6.2.2. The Middle East and Africa cannabis testing market revenue, by analytical instruments, 2015 - 2024 (USD Million)
        • 8.6.2.3. The Middle East and Africa cannabis testing market revenue, by consumables, 2015 - 2024 (USD Million)
      • 8.6.3. The Middle East and Africa cannabis testing market revenue, by method of testing, 2015 - 2024 (USD Million)
      • 8.6.4. The Middle East and Africa cannabis testing market revenue, by end-user, 2015 - 2024 (USD Million)
  •  
  • Chapter 9. Company Profile
    • 9.1. AB SCIEX LLC
      • 9.1.1. Overview
      • 9.1.2. Financials
      • 9.1.3. Product Portfolio
      • 9.1.4. Business Strategy
      • 9.1.5. Recent Developments
    • 9.2. Agilent Technologies, Inc.
      • 9.2.1. Overview
      • 9.2.2. Financials
      • 9.2.3. Product Portfolio
      • 9.2.4. Business Strategy
      • 9.2.5. Recent Developments
    • 9.3. Waters Corporation
      • 9.3.1. Overview
      • 9.3.2. Financials
      • 9.3.3. Product Portfolio
      • 9.3.4. Business Strategy
      • 9.3.5. Recent Developments
    • 9.4. CannaSys, Inc.
      • 9.4.1. Overview
      • 9.4.2. Financials
      • 9.4.3. Product Portfolio
      • 9.4.4. Business Strategy
      • 9.4.5. Recent Developments
    • 9.5. Shimadzu Corporation
      • 9.5.1. Overview
      • 9.5.2. Financials
      • 9.5.3. Product Portfolio
      • 9.5.4. Business Strategy
      • 9.5.5. Recent Developments
    • 9.6. GenTech Scientific
      • 9.6.1. Overview
      • 9.6.2. Financials
      • 9.6.3. Product Portfolio
      • 9.6.4. Business Strategy
      • 9.6.5. Recent Developments
    • 9.7. Millipore Sigma
      • 9.7.1. Overview
      • 9.7.2. Financials
      • 9.7.3. Product Portfolio
      • 9.7.4. Business Strategy
      • 9.7.5. Recent Developments
    • 9.8. PerkinElmer, Inc.
      • 9.8.1. Overview
      • 9.8.2. Financials
      • 9.8.3. Product Portfolio
      • 9.8.4. Business Strategy
      • 9.8.5. Recent Developments
    • 9.9. PharmLabs, LLC
      • 9.9.1. Overview
      • 9.9.2. Financials
      • 9.9.3. Product Portfolio
      • 9.9.4. Business Strategy
      • 9.9.5. Recent Developments
    • 9.10. Cannabix Technologies, Inc.
      • 9.10.1. Overview
      • 9.10.2. Financials
      • 9.10.3. Product Portfolio
      • 9.10.4. Business Strategy
      • 9.10.5. Recent Developments

Methodology

Free Analysis

Cannabis is a type of psychoactive drug that has recreational and medicinal uses. Cannabis mainly consists of THC (tetrahydrocannabinol) that causes changes in perception, increases appetite and sensation of euphoria. There are different types of cannabis, such as topical cannabis, inhaling cannabis, solid edible cannabis, and liquid edible cannabis, which are tested during the cannabis testing procedure.

The increase in the use of medical cannabis for various applications, such as reduction of nausea caused after chemotherapy, stimulation of appetite in patients suffering from AIDS, and controlling of muscle spasms, is fueling the demand for cannabis globally. This increase in demand has led to the legalization of cannabis by governments in various countries. For instance, Australia legalized medical cannabis in 2016, which is fuelling the growth of the global cannabis testing market. The rise in adoption of the cannabis software namely LIMS in the cannabis testing labs and the rise in the number of awareness programs such as workshops and conferences in various countries is also driving the global market for cannabis testing. However, the high cost of instruments and the lack of skilled professionals are hampering the development of the global cannabis testing market.

Global Cannabis Testing Market

The global cannabis testing market can be divided based on product and software, a method of testing, and end-users. Based on product and software, this market can be classified into products and software. The product segment is further divided into analytical instruments, which includes spectroscopy instruments, chromatography instruments, and others, and consumable includes standards and CRMS, chromatography columns, sample preparation products, and supplies and accessories. In 2017, the product segment acquired the largest market share. On the basis of the method of testing, this market can be categorized into potency, pesticide screening, microbial analysis, genetic, heavy metal, residual solvent screening, and terpene profiling. The potency segment is anticipated to dominate the market in the forecast timeframe. Based on end-users, the cannabis testing market can be fragmented into research institutions, cannabis testing laboratories, drug manufacturers and dispensaries, and cultivators. The cannabis testing laboratories segment is projected to lead the end-user segment of the cannabis testing market in the forecast timeframe.

North America is projected to lead the cannabis testing market in the upcoming years, due to the legalization of cannabis by major states in the U.S. and Canada and the presence of major market players. Asia Pacific region is anticipated to show the highest growth rate for cannabis testing market. The rise in the use of cannabis to treat diseases, growing awareness about cannabis among the population in developing countries, and an increase in the number of cannabis testing labs are driving the growth of the cannabis testing market in the Asia Pacific region.

The main players in the global cannabis testing market are AB Sciex LLC, Agilent Technologies, Inc., Waters Corporation, CannaSys, Inc., Shimadzu Corporation, GenTech Scientific, Millipore Sigma, PerkinElmer, Inc., PharmLabs, LLC, and Cannabix Technologies, Inc. These companies focus on the introduction of new technologies that can be used for cannabis testing. For instance, in November 2016, Waters Corporation introduced CORTECS Shield RP18 and CORTECS T3, which are used to analyze complex samples at low costs.


Frequently Asked Questions

Legalization of cannabis for medicinal use in the countries like the U.S., Canada, Australia, Brazil, Luxembourg, Argentina, Uruguay, Thailand, Sri Lanka, Zimbabwe, Ecuador, UK, Germany, Lebanon, Chile, Lithuania, Poland, Jamaica, Peru, Norway, Portugal, Denmark, Greece, New Zealand, and Switzerland will drive the market growth over the years to come. Apart from this, the approval for consumption or sale of cannabis in varying quantities for its medicinal use across various parts of the globe will prop the market demand over the forthcoming years. Rise in the acceptance of laboratory information management systems in cannabis testing labs is poised to offer lucrative growth opportunities for cannabis testing industry over the forecasting period.

According to Zion market research, the global Cannabis Testing market, which accrued revenue worth nearly 910 (USD Million) in 2017 and is slated to garner earnings worth 2,012 (USD Million) by 2024, is set to grow at a CAGR of nearly 12% during the period from 2018 to 2024.  

North America is likely to make noteworthy contributions towards overall market revenue. The surge in the expansion of market in the sub-continent over the estimated timespan is credited to legalization of cannabis herb for medicinal use in countries like the U.S. and Canada. In addition to this, massive demand for the product for personal utilization will drive the market penetration over the forthcoming years. Reportedly, there are nearly over 7,900 active licenses provided for cultivation & sales of the product in the U.S. and this will contribute notably towards the regional market earnings over forecast timeline.  

The key players profiled in the report include CannaSys, Inc., AB SCIEX LLC, PharmLabs, LLC, Agilent Technologies, Inc., GenTech Scientific, Waters Corporation, PerkinElmer, Inc., Shimadzu Corporation, Millipore Sigma, and Cannabix Technologies, Inc.

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