Cannabis Testing Market Size, Industry Trends, Leading Players, Share and Forecast 2025

Publisher: The Insight Partners

According to The Insight Partners market research study titled 'Cannabis Testing Market to 2025 - Global Analysis and Forecasts by Type, Services and End User, the global cannabis testing market was valued at US$ 1,028.2 Mn in 2017 and is estimated to reach US$ 2,486.7 Mn by 2025. The market is estimated to grow with a CAGR of 11.9% from 2017-2025.The report highlights the trends prevalent in the global cannabis testing market and the factors driving the market along with those that act as deterrents to its growth.

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Company Profiles

• Agilent Technologies
• PerkinElmer, Inc.
• Shimadzu Corporation
• SCIEX
• Merck KGaA
• Restek Corporation
• Waters
• CannaSafe Analytics
• Accelerated Technology Laboratories, Inc.
• Digipath Labs.

Global cannabis testing market, based on the type is segmented into product and services. The product segment is further bifurcated into analytical instruments and consumables segments. In 2017, the product segment witnesses the fastest and largest share. Additionally, the software segment is anticipated to grow at a significant rate during the forecast period.

Global Cannabis Testing Market - By Type

• Products
• Software

Global Cannabis Testing Market - By Services

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

The market is driven by the legalization of the medical cannabis, for instance, United States is anticipated to be the main driving force of growth of use of medical cannabis. 30 states has legalized cannabis for the medical use. These 30 states comprises of 60% of total population and have approved use of medical marijuana. This has become the driving force for the growth of cannabis testing marked in the entire North America region. Currently more than 8000 active licenses for cannabis businesses in USA. It is the only country with such number of market players. Europe is another region which has shown a decent growth rate for cannabis testing market. There has been an increase in the process of legalization of cannabis in European countries. Thus, considering the facts the market is likely to drive the market.

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The cannabis testing market on the basis of the services is segmented as potency testing, terpene profiling, pesticide screening, residual solvent screening, heavy metal testing, microbial analysis and genetic testing. The market is majorly contributed by the potency testing which holds the 29.5% of the market share in 2017. The market expected to dominate by the potency testing in the 2025 by 31.9% of the market share.

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