Cannabis testing defines various drug test methods for the use of cannabis in medical prescription, sports medicine, and law. Global cannabis testing market value is projected to be $916.53 Million in 2017 and is expected to generate revenue of around $1963.68 Million by the end of 2024, growing at a CAGR of around 11.50% between 2017 and 2024. Growing adoption of LIMS in cannabis testing laboratories and a growing number of cannabis testing laboratories are the factors enhancing the growth of the market. The high cost of analytical instruments and a dearth of trained laboratory professionals are the factors which hamper the market growth. Emerging markets is the major opportunity for the cannabis market.
Research Study Objectives:
- Define, estimate, and forecast the cannabis testing market statistics by product &software, type, end user, and regions concerning the individual growth drivers, market trends and their contribution toward the Cannabis Testing market growth
- Provides comprehensive information regarding the key factors influencing the market growth (Drivers, Restraints & Challenges, and Opportunities)
- Estimate & forecast the market size of all the segments concerning geographies including North America, Europe, Asia Pacific (APAC), South America and the Middle East and Africa (MEA).
- Recent competitive developments including M&A (Mergers and Acquisitions), Partnerships, and Product Innovations are provided in the Cannabis Testing Market Analysis report.
- Analysis and conclusions on the future Cannabis Testing market outlook.
Top-down and bottom-up approaches are used to validate the Cannabis Testing Market Size and are used to estimate the size of other dependent submarkets. Key players in the market are identified through various secondary sources; databases including Bloomberg Businessweek, Hoovers, Factiva, journals and associations and the
market revenues are estimated and are thoroughly validated through primary and secondary research. Secondary research involves the study of annual and financial reports of top players in the market, whereas primary research includes extensive interviews with the KoL’s such as CEOs, directors, board members, VP’s, sales managers, engineers, marketing executives, technicians, account managers, investors, strategic decision makers and others. The Cannabis Testing Market shares and breakdowns are determined using secondary sources and are verified by the primary sources. All possible parameters/factors that are affecting the Cannabis Testing market demand are covered in the research study are verified through primary research, analysed and interpreted to get the final qualitative and quantitative data. This data is collected and added with detailed analysis from Envision Inteligence and presented in this report.
The scope of the Report
The Cannabis testing market segmentation is as follows:
Product and Software
- Cannabis testing products
- Cannabis testing software
By Type
- Potency testing
- Terpene profiling
- Residual solvent screening
- Microbial analysis
- Pesticide screening
- Heavy metal testing
- Genetic testing
By End User
- Product & software
- Services
Geographical Analysis:
Cannabis testing market is segmented by geography into North America, South America, Europe, APAC and Middle East & Africa. U.S., Canada, Mexico and Costa Rica are analysed under North American region which is usually turning as the hotspot in the market. The South American region is further segregated into Brazil, Argentina, Chile, Columbia and some other emerging economies. In Europe, the market is extensively examined by covering U.K., Germany, France, Italy, Spain, Netherlands, Poland, Switzerland and some other promising economies. APAC is further categorised by countries into China, India, Japan, South Korea, Australia & New Zealand, Malaysia, Singapore and many other emerging nations. In the
Middle East & African region, Saudi Arabia, UAE, Iran, Iraq, Qatar, South Africa, Algeria, Morocco, Nigeria and so on countries are evaluated to understand the market growth lucidly.
Customization Options:
With the given research report, Envision Inteligence offers customisations as per the client’s specific requirements. The following customisation options offered for the Cannabis Testing Market include:
- Scope Revision
- Geographic Analysis
- Company Profiles
- Historical Data & Forecasting
- Key Contact Persons in companies
Global Cannabis Testing Market Research Report Includes:
- An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
- To have a complete market analysis through industry value chain analysis, Porter’s Five Force Model, PESTLE, SWOTanalysis, and Y-o-Y analysis.
- Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
- Identifying DROC in the current market and their impact on altering market dynamics.
- Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial study with significant competitors.
- Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
- Identify the latest developments, market shares and strategies that are employed by the significant Cannabis Testing market players, such as
- Pharm labs LLC.
- Agilent Technologies, Inc.
- Millipore Sigma.
- Waters Corporation.
- PerkinElmer, Inc.
- Along with these companies, many other companies are considered in the report while analysing the Global Cannabis Testing competitive strategies and environment. These companies held substantial share-owning to the nature of the industry whereas, the rest of the market shares are marginal chunks to regional and local level manufacturers. Other players also have considerable presence owing to its robust brand image, geographical reach and stable customer base.
