Global Cannabis Testing Market Analysis Report 2023-2030

DUBLIN – Global Cannabis Testing Market to Reach $2.8 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Cannabis Testing estimated at US$1.1 Billion in the year 2022, is projected to reach a revised size of US$2.8 Billion by 2030, growing at a CAGR of 13.2% over the analysis period 2022-2030.

Services, one of the segments analyzed in the report, is projected to record a 15% CAGR and reach US$1.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Products segment is readjusted to a revised 9.5% CAGR for the next 8-year period.

The U.S. Market is Estimated at $309.6 Million, While China is Forecast to Grow at 12.1% CAGR

The Cannabis Testing market in the U.S. is estimated at US$309.6 Million in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$475.6 Million by the year 2030 trailing a CAGR of 12.1% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12% and 11.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 9.2% CAGR.

What`s New for 2023?

• Special coverage on Russia–Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies – Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and Research Platform
• Complimentary updates for one year

Key Topics Covered:

1. MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Cannabis Testing: An Essential Aspect of Legal Cannabis Industry
• Global Cannabis Testing Market: Percentage Breakdown of Sales by Products for 2019
• Chromatography: The Most Common Type of Technology in Use for Cannabis Testing
• Potency Testing Leads the Global Cannabis Testing Market
• Laboratories End-Use Segment Captures the Maximum Share of Market
• Global Cannabis Testing Market: Percentage Breakdown of Sales by End-User for 2019 and 2025
• US Emerges as the Largest Regional Market for Cannabis Testing
• Cannabis Testing – Global Key Competitors Percentage Market Share in 2022 (E)
• Cannabis Testing Labs Resort to Differentiation Strategy to Fight Competition
• Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
• Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS (Total 32 Featured)

• PerkinElmer, Inc.
• PharmLabs LLC.
• Restek Corporation
• SC Laboratories, Inc.
• Shimadzu Corporation
• Steep Hill Labs, Inc
• Waters Corporation
• AB Sciex LLC
• Accelerated Technology Laboratories, Inc.
• Agilent Technologies, Inc.
• Digipath Inc.
• Merck KGaA

3. MARKET TRENDS & DRIVERS

• With the Number of Countries Legalizing Cannabis on the Rise, Expanding Legal Cannabis Market Drives Demand for Cannabis Testing
• Global Market for Legal Marijuana in US$ Billion for the Years 2019, 2021, 2023 and 2025
• Growing Use of Cannabis for Treatment of Serious Medical Conditions Drives Demand for Cannabis Testing to Assess Product Quality
• List of Countries Where Medical Marijuana is Legal
• Global Legal Medical Marijuana Market: Percentage Breakdown of Revenues by Application for 2019
• Legalization of Recreational Cannabis: Growth Prospects for Cannabis Testing
• Advent of Luxury Cannabis Products Fuels Need for Cannabis Testing
• Increasing Use of LIMS in Cannabis Testing Labs: A Major Area of Growth
• Cloud-enabled LIMS Systems Reduce Manual Workloads and Improve Lab Productivity
• LIMS Systems and Software Enable Automated Cannabis Testing Processes
• Managing Cannabis Testing Workflows with LIMS System
• Cannabis Testing Labs Use LIMS Systems to Achieve ISO 17025 Compliance
• Rising Significance of Chromatography in Cannabis Testing
• Increase in Cannabis Testing Labs and Awareness Programs to Educate People in Developed Economies: A Major Growth Opportunity
• List of Cannabis Testing Labs in Select Countries/US States
• An Insight into Automated Cannabis Testing Market
• Focus on R&D Development and Need for Cannabis Testing Labs Drives Growth
• Challenges Confronting Cannabis Testing Market
• Lack of Standardization for Cannabis Testing
• Compliance Challenges Plague Cannabis Testing Space
• High Investments to Set Up Testing Labs and High Cost of Analytical Instruments & Tests
• Shortage of Trained Lab Professionals for Cannabis Testing
• Innovations, Advantages & Research Studies
• Improving Efficiency of Cannabis Product Testing
• UBC Researchers Develop New Method to Measure Phytocannabinoids
• Development of Suitable Sample Prep Techniques for Cannabis Testing Market
• Gemmacert Develops Home Kit for Cannabis Testing
• PRODUCT OVERVIEW
• What is Cannabis?
• Cannabis Testing
• Cannabis Product Testing
• Cannabis Drug Testing

(This information is primarily sourced from ResearchAndMarkets.com.  Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).