US: 1.646.568.9797 (24x5)
UK: 44.330.808.0580 (24x5)
Worldwide: 91.703.051.960 (24x7)
Abstract, Snapshot, Market Analysis & Market Definition: Cannabis Testing Market
Industry / Sector TrendsCannabis Testing Market size was valued at USD 1.0 billion in 2018 and is expected to witness more than 13.4% CAGR from 2019 to 2025. U.S. cannabis testing market, by technology, 2018 & 2025 (USD Million) Increasing use of cannabis for medical purposes have led to legalization of cannabis in various countries across the globe. For instance, currently, more than 30 countries across the globe have legalized the use of cannabis for medical treatment. Legalization of cannabis for medical purposes will provide new growth avenues for testing laboratories, thus leading to huge development of cannabis testing industry across the forecast timeframe. Moreover, increasing focus to meet the growing needs of hemp and cannabis cultivators will further lead to increase in number of cannabis testing laboratory setup, thus leading to cannabis testing business growth in the future. Growing number of medical application of cannabis will spur the medical cannabis industry across the forecast timeframe, thus rendering a positive impact over cannabis testing industry growth. Various research institutes are investing in exploring additional therapeutic uses of medical cannabis. For instance, in 2017, the National Institute of Health (NIH) invested about USD 140 million to support more than 300 research projects on cannabinoids. Increasing investment on R&D activities for exploring new medical applications of cannabis will spur cannabis testing industry growth in the future. However, high cost of setting up a cannabis testing facility due to costly equipment will hinder the cannabis testing market growth. Additionally, lack of uniform testing standards will further hamper marijuana testing market growth in the future.
Market Segmentation, Outlook & Regional Insights: Cannabis Testing Market
Cannabis Testing Market, By TechnologyGermany cannabis testing industry share, by technology, 2018 The use of chromatography in cannabis testing market is expected to dominate across the forecast period with a share of 62.4% in 2018. Preference of chromatography technique for cannabis testing is high due to its fast and effective results. Moreover, various manufacturers are offering specialized chromatography instrument for cannabis testing. For instance, in March 2017, Shimadzu announced the launch of cannabis analyzer for cannabinoid testing. The instrument is based on chromatography technique and offers features such as high throughput, high sensitivity, and high resolution. Various technological advancements will boost the adoption of chromatography technique for cannabis testing, thus leading to high market growth in the future. Spectroscopy method for cannabis testing is expected to show significant growth of 13.3% from 2019 to 2025. Increasing legalization of cannabis and its derivatives for both medical and recreational use by adults will spur spectroscopy market growth. Mass spectrometers have wide array of applications in cannabis testing such as pesticide and heavy metal testing. With increasing demand for use of marijuana in various medical applications, stringent quality control parameters are being implemented to ensure patient safety, thus leading to industry growth across the forecast timeframe.
Cannabis Testing Industry, By Test TypePesticide cannabis testing market accounted for revenue of USD 194.7 million in 2018. Pesticides in cannabis end-products pose significant threat to patients health. Although, the list of pesticides varies across different U.S. states and Canada, several regulatory authorities provide list of unauthorized pesticide active ingredients and limits. For instance, Cannabis Legalization and Regulation Branch is the authority in Canada that provides list of pesticides that need to be tested. Stringent regulations pertaining to pesticides will spur the growth of pesticide testing market. Potency testing market is forecasted to expand at 13.9% CAGR during the forecast timeframe. High growth is attributed to increasing number of cannabis cultivators that will result in stiff competition to provide better quality medical cannabis to the patient population. Majority of the marijuana cultivators focus on production of cannabis with high concentration of tetrahydrocannabinolic acid (THCA) that can be determined by potency testing. Moreover, potency testing is also required to determine the correct dosing of medical cannabis for patients. Hence, the aforementioned factors will boost the demand for cannabis potency testing, thereby fostering business growth.
Cannabis Testing Market, By Service ProviderCannabis testing laboratories will dominate the overall market, reaching at USD 1.4 billion by 2025. Increasing legalization of cannabis for both medical and recreational use across the globe will positively impact the cannabis testing laboratories market growth. Moreover, stringent regulations implemented by various authorities to ensure superior quality of cannabis products and patient safety will further spur cannabis testing laboratories business growth during the analysis period. Manufacturers segment is forecasted to show significant growth of 13.6% from 2019 to 2025. Various cannabis manufacturers are required to develop high-quality products such as CBD oils, concentrates and vapes. Increasing legalization of cannabis for various medical uses will further boost development of tested products, thus leading to market growth.
Cannabis Testing Market, By RegionEurope cannabis testing market share, by country, 2025 (USD Million) U.S. cannabis testing market is forecasted to reach USD 781.6 million by 2025. Growing legalization pertaining to the use of cannabis across various U.S. states will act as a major factor driving the U.S. cannabis testing market growth. Additionally, rising number of testing laboratories and increasing cultivators of marijuana will further boost the U.S. cannabis testing market growth across the forecast timeframe. Also, stringent regulatory needs implemented by authorities to ensure superior quality products will foster business growth for U.S. cannabis testing market. Germany cannabis testing market is expected to show significant growth rate of 41.2% during the forecast timeframe. High growth is attributed to new medical cannabis legislation and increase in approval of production licenses since March 2017. Additionally, increasing demand of medical cannabis among patients will further lead to growth in number of cannabis testing laboratories, thus fostering market growth in the future.
Key Players, Recent Developments & Sector Viewpoints: Cannabis Testing MarketFew of the notable industry players operating in global cannabis testing market are Anandia Labs, Anresco, CannaSafe Analytics, CW Analytical Laboratories, Digipath, Eirlab, EVIO, Phytovista Laboratories, Pure Analytics, SC Labs, and Steep Hill. These industry players implemented various strategies such as mergers and acquisitions, collaborations, accreditations, etc. in order to capture high revenue share in cannabis testing market.
Recent industry developments:In January 2019, Digipath, Inc. announced agreement with Hemp, Inc. to provide on-site potency testing laboratories for three hemp production sites in Oregon, North Carolina, and Arizona that are owned by Hemp, Inc. This collaboration will enable Digipath to expand its market share in hemp testing industry and strengthen its position in both domestic as well as international cannabis testing industry. In January 2019, Anandia Laboratories announced the establishment of Cannabis Innovation Centre (CIC) in Comox Valley, Canada with a view to develop cannabis using modern plant breeding tools. This establishment will enable the company to broaden its product portfolio and expand its customer base.
Cannabis Testing Industry ViewpointCannabis testing is the key element in ensuring patient/consumer safety and legitimizing the cannabis industry. The industry is still in the nascent stage as not all countries have legalized the use of cannabis or hemp for medical applications. However, with increasing focus on use of cannabis for medical use, the scenario is changing gradually. Increasing number of countries are recognizing the medical use of cannabis and formulating legal structure to ensure patient safety. Moreover, the cannabis testing industry is evolving from the application of various tests such as potency testing and heavy metal testing to ensure superior quality products. Currently, there are no uniform standard for testing cannabis product quality due to irregularity in the legal status of cannabis. However, with exploration of novel medical applications of cannabis, the industry will witness significant growth in the upcoming years. Also, stringent norms and regulations will be required to ensure public safety and limit the illicit use of cannabis.
Key Insights Covered: Exhaustive Cannabis Testing Market1. Market size (sales, revenue and growth rate) of Cannabis Testing industry. 2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Cannabis Testing industry. 3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Cannabis Testing industry. 4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Cannabis Testing industry.
Research Methodology: Cannabis Testing Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
1 Report Overview 1.1 Research Scope 1.2 Major Manufacturers Covered in This Report 1.3 Market Segment by Type 1.3.1 Global Cannabis Testing Market Size Growth Rate by Type (2019-2025) 1.4 Market Segment by Application 1.4.1 Global Cannabis Testing Market Share by Application (2019-2025) 1.5 Study Objectives 1.6 Years Considered 2 Global Growth Trends 2.1 Production and Capacity Analysis 2.1.1 Global Cannabis Testing Production Value 2014-2025 2.1.2 Global Cannabis Testing Production 2014-2025 2.1.3 Global Cannabis Testing Capacity 2014-2025 2.1.4 Global Cannabis Testing Marketing Pricing and Trends 2.2 Key Producers Growth Rate (CAGR) 2019-2025 2.2.1 Global Cannabis Testing Market Size CAGR of Key Regions 2.2.2 Global Cannabis Testing Market Share of Key Regions 2.3 Industry Trends 2.3.1 Market Top Trends 2.3.2 Market Drivers 3 Market Share by Manufacturers 3.1 Capacity and Production by Manufacturers 3.1.1 Global Cannabis Testing Capacity by Manufacturers 3.1.2 Global Cannabis Testing Production by Manufacturers 3.2 Revenue by Manufacturers 3.2.1 Cannabis Testing Revenue by Manufacturers (2014-2019) 3.2.2 Cannabis Testing Revenue Share by Manufacturers (2014-2019) 3.2.3 Global Cannabis Testing Concentration Ratio 3.3 Cannabis Testing Price by Manufacturers 3.4 Key Manufacturers Cannabis Testing Plants/Factories Distribution and Area Served 3.5 Date of Key Manufacturers Enter into Cannabis Testing Market 3.6 Key Manufacturers Cannabis Testing Product Offered 3.7 Mergers & Acquisitions, Expansion Plans 4 Market Size by Type 4.1 Production and Production Value for Each Type | read more...