Dublin, Aug. 17, 2022 (GLOBE NEWSWIRE) -- The "Cannabis Testing Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
Major players in the cannabis testing market are Agilent Technologies Inc, Shimadzu Corporation, DigiPath Inc, Steep Hill Inc, SC Laboratories, PharmLabs LLC, Waters Corporation, CW Analytical Laboratories Inc, PerkinElmer Inc, Restek Corporation, Ab Sciex LLC, Danaher Corporation, Praxis Labs, Phenomenex, and Anresco Labs.
The global cannabis testing market is expected to grow from $1.75 billion in 2021 to $2.09 billion in 2022 at a compound annual growth rate (CAGR) of 19.1%. The cannabis testing market is expected to grow to $3.88 billion in 2026 at a CAGR of 16.8%.
North America was the largest region in the cannabis testing market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cannabis testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The cannabis testing market research report is one of a series of new reports that provides cannabis testing market statistics, including global market size, regional shares, competitors with a cannabis testing market share, detailed cannabis testing market segments, market trends and opportunities, and any further data you may need to thrive in the cannabis testing industry. This cannabis testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growing usage of cannabis as a medicinal product is expected to propel the growth of the cannabis testing market going forward. Cannabis is used to relieve tension and muscle problems, as well as to lessen nausea and vomiting following chemotherapy. As a result, the use of cannabis as a therapeutic substance is increasing.
Cannabis also calms epileptic seizures in the brain and has the beneficial effect of damping down seizure intensity. For instance, in 2022, according to the World Health Organization, among the 147 million world population, 2.5% of people consumed cannabis. Therefore, the growing usage of cannabis as a medicinal product drives the cannabis testing market.
Strategic partnerships have emerged as the key trend gaining popularity in the cannabis testing market. Major companies operating in the cannabis testing market are undergoing partnerships to strengthen their position. For instance, in November 2020, Shimadzu Scientific Instruments, a Japan-based manufacturer of cannabis testing instruments, partnered with McCann Testing, a US-based medical cannabis testing lab. Through this partnership, Shimadzu would supply MoCann with instruments and support MoCann testing efforts with training, method development, and maintenance.
Moreover, in March 2022, Digipath Inc, a US-based cannabis testing laboratory, partnered with CASPR Technologies, a Nigeria-based provider of smart environmental indoor technology for healthcare. Through this partnership, Digipath will test and validate the efficacy of CASPR's technology in botanical applications, specifically for cannabis and hemp.
In December 2020, Kennebec Analytical Services, a US-based company that provides full-service analytical testing and consulting, acquired Cannabis Testing Laboratories (CTL) from Doane University for an undisclosed amount. Through this acquisition, the combined offerings of KAS and CTL are expected to expand full-service testing and consultation services in Nebraska.
This would allow them to meet each client's business goals, from harvesting to processing, as this is essential to drive product development and marketing, as well as meet state and federal regulatory guidelines. Doane University Cannabis Testing Laboratories (CTL) is a US-based wholly-owned subsidiary of parent firm Doane University that has established itself as Nebraska's first cannabis testing lab which provides cannabis testing.
The countries covered in the cannabis testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Companies Mentioned
- Agilent Technologies Inc.
- Shimadzu Corporation
- DigiPath Inc.
- Steep Hill Inc.
- SC Laboratories
- PharmLabs LLC
- Waters Corporation
- CW Analytical Laboratories Inc.
- PerkinElmer Inc.
- Restek Corporation
- Ab Sciex LLC
- Danaher Corporation
- Praxis Labs
- Phenomenex
- Anresco Labs
Key Topics Covered:
1. Executive Summary
2. Cannabis Testing Market Characteristics
3. Cannabis Testing Market Trends And Strategies
4. Impact Of COVID-19 On Cannabis Testing
5. Cannabis Testing Market Size And Growth
5.1. Global Cannabis Testing Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Cannabis Testing Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Cannabis Testing Market Segmentation
6.1. Global Cannabis Testing Market, Segmentation By Test Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Potency Testing
- Pesticide Screening
- Residual Solvent Screening
- Heavy Metal Testing
- Terpene Testing
- Mycotoxin Testing
- Other Test Types
6.2. Global Cannabis Testing Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Chromatography
- Spectroscopy
- Other Technologies
6.3. Global Cannabis Testing Market, Segmentation By Portability, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Standalone
- Hand Held Devices
6.4. Global Cannabis Testing Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Testing Laboratories
- Drug Manufacturers
- Research Institutes
- Other End Users
7. Cannabis Testing Market Regional And Country Analysis
7.1. Global Cannabis Testing Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Cannabis Testing Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/cpi856
