Cannabis Testing Market is expected to generate a revenue of USD 3013.48 Million by 2028
JERSEY CITY, N.J. – Verified Market Research recently published a report, “Cannabis Testing Market” By Product And Software (Products, Software (Cannabis LIMS)), By Service (Potency Testing, Pesticide Screening, Heavy Metal Testing, Genetic Testing), By End-User (Laboratories, Research Institutes, Drug Manufacturers, Cultivators), and By Geography.
As per the deep research carried out by Verified Market Research, the global Cannabis Testing Market size was valued at USD 1253.34 Million in 2020 and is projected to reach USD 3013.48 Million by 2028, growing at a CAGR of 11.70% from 2021 to 2028.
Global Cannabis Testing Market Overview
Cannabis is the product of a cycle that starts with the discovery of its quality and ends with its use. Numerous countries are lifting their bans on cannabis as a result of their discovery that it is beneficial for clinical treatment. Cannabis testing alludes to the inspection of a specific specimen of cannabis to determine THC, CBD, and terpene levels as well as for foreign substances and pollutions, such as persistent solvents, form, illness, irritations, or pesticide buildup. Every state and region can impose their own guidelines and standards for what should be tried and imprinted on cannabis names. Individual cultivators may choose more severe principles and risk having their examples tested for CBC and CBG levels. Cannabis testing should be done only by certified physicists and lab specialists.
Cannabis has become more widely used for medical purposes, which has led to its legalisation in many different countries around the world. For instance, the use of cannabis for medical purposes is currently permitted in more than 30 countries worldwide. For instance, in 2018 the Farm Bill was proposed to authorise the growth of hemp in the United States. Following the trend, many countries in Europe and Asia are poised to legalise clinical marijuana for the growing quiet population. It is assumed that the number will increase exponentially over the hypothetical time period.
- On January 2019, Digipath, Inc., announced an agreement with Cannabis, Inc. to increase its market share in the Cannabis test and strengthen its position in the domestic and international cannabis testing market.
- In 2020, DigiPath acquired VSSL Enterprises Ltd., a provider of agritech consulting solutions for cannabis genetics, tissue culture, cultivation, analytical testing, and predictive tools.
- In 2020, Agilent Technologies Inc., launched Cannabis and Hemp Potency Kit.
The major players in the market are Shimadzu Corporation, Millipore Sigma, Restek Corporation, SC Laboratories, Inc., Agilent Technologies Inc., Waters Corporation, PerkinElmer Inc., AB SCIEX LLC, CannaSafe Analytics and Steep Hill Labs.
Verified Market Research has segmented the Global Cannabis Testing Market On the basis of Product And Software, Service, End-User, and Geography.
- Cannabis Testing Market, By Product And Software
- Analytical Instruments
- Chromatography Instruments
- Spectroscopy Instruments
- Software (Cannabis LIMS)
- Cannabis Testing Market, By Service
- Potency Testing
- Pesticide Screening
- Heavy Metal Testing
- Genetic Testing
- Cannabis Testing Market, By End-User
- Research Institutes
- Drug Manufacturers
- Cannabis Testing Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
- North America
(This information is primarily sourced from Verified Market Research®. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).
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