Pune, India, July 17, 2023 (GLOBE NEWSWIRE) -- According to Recently Published Report by The Insight Partners, “Cannabis Testing Market Size Report and Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, Type, End User, and Portability and Geography”; the market size is expected to grow to $2.96 billion by 2028 from $1.51 billion in 2021; it is estimated to grow with a CAGR of 10.1% from 2021 to 2028.
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Global Cannabis Testing Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 1.51 Billion in 2021 |
| Market Size Value by | USS 2.96 Billion by 2028 |
| Growth rate | CAGR of 10.1% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 214 |
| No. of Tables | 138 |
| No. of Charts & Figures | 81 |
| Historical data available | Yes |
| Segments covered | Product, Type, End User, Portability and Geography |
Browse key market insights spread across 214 pages with 138 list of tables & 81 list of figures from the report, "Cannabis Testing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Analytical Instruments, Consumables, and Software), Type (Potency Testing, Terpene Profiling, Residual Solvent Screening, Microbial Analysis, Pesticide Screening, Heavy Metal Testing, and Genetic Testing), End User (Testing Laboratories, Drug Manufacturers, and Research Institutes), and Portability (Hand held Devices, and Standalone) and Geography" in detail along with the table of contents: https://www.theinsightpartners.com/reports/cannabis-testing-market
Advances in Cannabis Testing Equipment is Expected to be the Global Cannabis Testing Market Trend during 2021-2028:
The medicinal and recreational cannabis industries are growing at rapid pace and is expected to witness tremendous growth by 2025. Advances in analytical testing technologies and services are enabling to drive the industry and accelerate growth in drug development and medicine as well as regulatory guidance.
Analytical instrumentation manufacturers are providing cannabis testing laboratories with sample preparation protocols, method development, and following good laboratory practices (GLP) to ensure state and federal laws are met.
Some instrument manufacturers now offer dedicated instruments for cannabis potency testing, which include dedicated HPLC or UHPLC devices with hardware and methods optimized for compound isolation and quantitative analysis. Whereas some instrument vendors offer new, used, and refurbished equipment, along with other hardware components and service programs, for the purpose of cannabis testing. This holds the ability to service, upgrade, and customize equipment as methods and operations progress.
For instance, Sage Analytics has launched their new, very unique, portable next generation cannabis potency testing Device Humboldt Mini in 2017. It is the latest addition of Sage Analytics cannabis potency profilers that enables measuring the potency of buds, trim and extracts using methodologies that are less time consuming.
Further, in October 2018, PathogenDx, Inc., the innovative provider of DNA-based pathogen testing technology for the cannabis industry, introduced the first quantitative microarray-based test for cannabis, PDx-Quant, which has the ability to determine whether or not a sample exceeds a state or a federal regulatory agency's specific standards.
In addition, in august 2020, Orange Photonics, a cannabis testing instrumentation provider, launched LightLab 3 its next generation, portable, high-performance liquid chromatography-based analyzer. It can measure 11 cannabinoids, including THC and CBD, in cannabis plants and its products, down to a detection threshold of 0.05 percent.
Global Cannabis Testing Market: Competitive Landscape and Key Developments
Purpl Scientific, Orange Photonics Inc, Agilent Technologies Inc., Shimadzu Corporation, Merck KGaA, Restek Corporation, WATERS, CannaSafe Analytics, Accelerated Technology Laboratories, Inc, Digipath Inc. are among the key companies operating in the cannabis testing market. Leading players adopt strategies such as the launch of new products, expansion and diversification of their market presence, and expansion of new customer base for tapping prevailing business opportunities.
In January 2023, Buffalo lab received approval for cannabis testing by The Office of Cannabis Management. Approved labs test for things like pesticides, heavy metals and moisture content.
In January 2021, Agilent Technologies, Inc. announced that it has released MassHunter Workstation Plus 11.0, MassHunter BioConfirm, and MassHunter Networked Workstation 11.0 in order to comply with regulatory requirements from the EU EMEA and US FDA.
In November 2020, Waters Corporation launched the new RADIAN ASAP System, a new direct mass detector engineered for non-mass spectrometry (MS) experts to conduct fast and accurate analyses of solids and liquids with minimal sample prep.
In July 2020, Agilent Technologies, Inc. announced launch of Innovative online tool, and new consumables kits to provide faster set up and analysis for Cannabis and hemp potency and pesticide/mycotoxin testing. The products are known as Cannabis and Hemp Potency Kit and the Cannabis Pesticide and Mycotoxin Kit in the market.
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Cannabis testing is used in variety of applications that includes determining the concentration of cannabis in various analytical samples such as pharmaceutical drugs, and detection of contaminants such as bacteria and fungi. Furthermore, the cannabis testing is also performed for determination of trace metals such as arsenic, cadmium that can adversely impact health if remained unchecked. These tests are performed with the help of various analytical techniques that include chromatography analysis, spectrometry, ELISA, polymerase chain reaction (PCR) and others.
Global Cannabis Testing Market: Type Overview
The “Global Cannabis Testing Market” is segmented based on product, application, end use, portability, and geography. The cannabis testing market by product is segmented into analytical instruments, consumables, and software. Analytical instruments are further subsegmented as chromatography instruments, spectroscopy, and other analytical instruments. Based on application, the cannabis testing market is segmented into potency testing, terpene profiling, residual solvent screening, microbial analysis, pesticide screening, heavy metal testing, and genetic testing. Based on end use, the cannabis testing market is segmented into testing laboratories, drug manufacturers, and research institutes. Based on portability, the cannabis testing market is segmented into handheld devices, and stand alone. The cannabis testing market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).
Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):
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