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).
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