Cannabis Testing market size reached USD 1.78 billion in 2023 and is expected to reach USD 4.11 billion by 2030, growing at a CAGR of 12.7 % during the forecast period.
Cannabis Testing Market Report Overview
The forecasting process primarily hinges on the analysis of historical data alongside current trends in the Cannabis Testing Market. This comprehensive data collection employs a blend of primary and secondary research methodologies. The report encompasses vital components such as market size, share, regional analysis, dynamics, CAGR, and future trends. This holistic approach renders the report an invaluable guide for investors, as it offers an insightful and forward-looking perspective on the Cannabis Testing industry.
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Cannabis Testing Market Report Scope and Research Methodology
The report presents historical data and forecasts on a global, regional, and country level, delivering an in-depth examination of Cannabis Testing market trends within each segment and their respective sub-segments from 2024 to 2030. Maximize Market Research employs data triangulation as the primary research methodology, encompassing an evaluation of how data variables impact the Cannabis Testing market, data mining, and validation via primary sources such as industry experts.
The analysis of complex Cannabis Testing industry data has been presented in straightforward language within the research report. SWOT analysis was leveraged to outline the strengths, weaknesses, opportunities, and threats for key players in the industry. To estimate the market size, a bottom-up approach was employed.
Cannabis Testing Market Regional Analysis
The report provides a detailed analysis of the Cannabis Testing market dynamics, Government initiatives and stringent rules and regulations influencing the market in each region. A detailed analysis of the market in North America, Asia Pacific, Europe, Middle East and Africa and South America are included in the report.
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Cannabis Testing Market Segmentation
by Service Type
Potency Testing
Terpene Profiling
Heavy Metal Testing
Pesticide Screening
Microscopy Testing
Residual Solvent Screening
With a revenue share of 23.7% in 2023, potency testing services topped the market in terms of service type. The primary drivers of the market are the growing need to analyze the potency of different cannabinoids, specifically Tetra hydro cannabinol (THC) and CBD (cannabidiol) in cannabis grown, and the growing use of potency testing techniques such as High-Performance Liquid Chromatography (HPLC) and Gas Chromatography (GC) for testing samples.
by End-user
Cannabis Drug Manufacturers
Cannabis Cultivators/Growers
Others (Research Institutes & Labs)
With 64.2% of all sales coming from end users, cannabis producers and cultivators controlled the lion's share of market revenue in 2023. Due of government rules in many countries governing the maximum THC content of cannabis products, growers are entering into agreements with testing labs and research organizations. Furthermore, based on the CBD and THC concentrations of their plants, these growers must provide manufacturers and distributors with a range of plant kinds at different prices. These are the primary factors driving the growth of the segment.
by Technology
Chromatography
Liquid Chromatography
Gas Chromatography
Other
Spectroscopy
Mass Spectrometry
Atomic Spectrometry
Others
Cannabis Testing Key Players
1. Saskatchewan Research Council (SRC)
2. SC Labs
3. Steep Hill, Inc.
4. SGS Canada Inc.
5. CW ANALYTICAL
6. PharmLabs
7. GreenLeaf Lab
8. Agilent Technologies Inc.
9. Shimadzu Scientific Instruments
10. Merck KGaA
11. Restek Corporation
12. PerkinElmer Inc.,
13. Danaher Corporation
14. Accelerated Technology Laboratories Inc.
15. Steep Hill Halent Laboratories Inc.
16. Digipath Inc.
17. Pharmlabs LLC.
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Table of content for the Cannabis Testing Market includes:
Global Cannabis Testing Market: Research Methodology
Global Cannabis Testing Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3.Global Cannabis Testing Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
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Key Questions answered in the Cannabis Testing Market Report are:
- What is the expected CAGR of the Cannabis Testing market during the forecast period?
- What are the Cannabis Testing market segments?
- Which region of the Cannabis Testing market is expected to grow at a high rate during the forecast period?
- What is the expected CAGR of the Cannabis Testing market during the forecast period?
- What are the emerging trends in the Cannabis Testing market?
- What are the factors restraining the Cannabis Testing market growth?
Key offerings:
- Market Share, Size, and Forecast by Revenue
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation- A detailed analysis of each segment and their segments
- Competitive Landscape - Leading key players and other prominent key players.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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