As per our research report, the global cannabis testing market size is estimated to be growing at a CAGR of 13.4% from 2023 to 2030.
The pandemic has affected the cannabis testing market economy. Firstly, due to movement restrictions, lockdown, and social distancing the production of drugs reduced significantly thus decreasing the demand. This caused a restrain on transportation affecting the supply chain. Secondly, a lot of financial losses were reported by companies regarding cannabis testing due to the closure of academic and research institutions. Furthermore, a lot of companies recorded low sales of cannabis because of the chaos and people realizing the adversity it can otherwise cause to human health. However, the market is projected to grow significantly due to its applications in the medical sector.
The Global Cannabis Testing Market Drivers are the legalization of medical cannabis, initiatives taken to improve the R&D sector, and increasing adoption of Learning Information Management System software for testing. Medical marijuana’s active compounds are comparable to chemicals produced by the body that are involved in hunger, memory, mobility, and pain. Additionally, they help in relieving migraine, nausea, and vomiting. Owing to medical uses, countries like Canada, Georgia, Malta, Mexico, South Africa, Thailand, and Uruguay, plus 23 states, 3 territories, and the District of Columbia in the United States and the Australian Capital Territory in Australia have legalized the consumption. This has boosted the demand for various analytical testing methods. According to scientific experts, the industry is projected to grow due to more legalization, adapting mindset in a certain percent of the population, and increased adoption of cannabis testing techniques. DCC is looking for research proposals that would help the public understand cannabis and the impacts of legalization. Through this initiative, DCC seeks to increase intellectual understanding about cannabis, discover how government policy decisions affect individuals, communities, and equity, and assist government authorities in making fact-based policy decisions. The Department hopes that the study funded by these funds will expand the corpus of scientific knowledge regarding cannabis and benefit policymakers not only in California but also across the country and the world. The study would prioritize topics like the cannabis industry's health, cannabinoids, and their effectiveness, monopolies and unjustified competition, and cannabis as a medicine. This will create employment opportunities and pique the interest of scientists as well as researchers thereby helping in understanding more about the sector. LIMS is a software-based system with capabilities that enable the operations of a contemporary laboratory. Workflow and data tracking support, flexible design, and data interchange interfaces are key elements that fully support its use in regulated environments. A LIMS has grown from simple sample monitoring to an enterprise resource planning solution that controls numerous areas of laboratory informatics throughout the years. It can help in assessing chemicals, microbes, pesticides, metals, etc which can be present in the compound. This helps in driving the Cannabis Testing Market forward by providing efficiency and maintaining more accurate results. However, high start-up costs are required which include initial investment, technology, software, land costs, etc. Secondly, skilled professionals having proper theoretical and practical knowledge for handling and testing are required. If these criteria are not met it can hinder the growth of this industry.
Based on segmentation by end-users, cultivators hold the highest share in the global cannabis testing market. Testing becomes crucial owing to consumer safety, guidelines, regulations export rules, etc. Laboratories are projected to be the fastest segment. This is mainly because of extensive research activities conducted regarding human consumption, medical properties, and overall benefit.
Based on region, North America dominates the global cannabis testing market. This is due to technological advancements, software availability, and legalization in many countries and services. Additionally, North America has witnessed an increase in the number of chronological disorders, epilepsy cases, and anxiety. This has led to more consumption of CBD because of its medical properties. The United States and Canada are the fastest-growing regions in North America. Asia Pacific happens to be the fastest growing in the global cannabis testing market. More funds are being invested in biopharmaceutical companies, research programs, and testing centers. Additionally, new technological advancements are boosting growth. China happens to be a major producer of hemp which has a considerably low percentage of THC. Therefore, testing becomes crucial.
Companies playing a leading role in the global cannabis testing market profiled in this report are Agilent Technologies, Inc., Shimadzu Corporation, MERCK KGAA, Thermo Fisher Scientific, DigiPath, Inc., Steep Hill Inc., SC Laboratories, Inc., PharmLabs LLC, Waters Corporation, and PerkinElmer Inc.
Heavy Metal Testing
Microbial Analysis
Potency Testing
Residual Screening
Mycotoxin testing
Terpene Profiling
Others
Laboratories
Research Institutes
Cultivators
Others
Flowers
Extracts
Edibles
Others
Instrumentation
Chromatography
Spectroscopy
Atomic Spectrometry
Others
Consumables
Software
North America
Europe
Asia-Pacific
South America
Middle East and Africa
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