Global Cannabis Testing Market to Grow at 16.5% Annually Through 2029 – ResearchAndMarkets.com

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DUBLIN--(BUSINESS WIRE)--The "Cannabis Testing Market Analysis by Services, by Product & Software, by End User, and by Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering. The cannabis testing market size is estimated to be USD 1,192.7 million in 2021 and is expected to witness a CAGR of 16.5% during the forecast period 2022-2029. The increasing use of LIMS in cannabis testing facilities, raising consciousness, legalizing cannabis for medicinal use, and the expanding number of marijuana testing facilities are some of the primary market drivers. However, the inconsistent laws and regulations, and the high price attached to the entry-level are expected to restrain the market growth. By Services Based on services, the market is segregated into heavy metal testing, microbial analysis, potency testing, pesticide screening, residual solvent analysis, terpene profiling, and other services. In 2021, the potency testing segment held the highest market share owing to rising interest in determining the potency of different cannabinoids, especially Tetrahydrocannabinol (THC) and CBD (Cannabidiol) is grown marijuana, rising cannabis quality inspections to guarantee correct product labeling in the medicinal and recreational industries, and growing use of efficient potency testing methods for evaluating substances, such as Gas Chromatography (GC) and High-Performance Liquid Chromatography (HPLC). By Product & Software On the basis of product & software, the market is categorized into spectroscopy instruments, analytical instruments, consumables, software, and other analytical instruments. In 2021, the software segment held the highest market share due to the rise of interest in cannabis screening, and increasing cannabis legalization. By End User Based on end user, the market is bifurcated into research institutes and cannabis testing laboratories. In 2021, the research institutes segment held the highest market share owing to the increasing use of cannabis in clinical studies by the major pharmaceutical companies and the rising recognition of marijuana as a treatment. Regional Markets In 2021, North America had the greatest share of the market due to the existence of big companies in the market for cannabis testing and the well-established pharmaceuticals enterprise. However, the Asia-Pacific region is predicted to grow at the fastest rate during the projection period owing to the increasing financial commitments from the pharmaceutical and biotechnology industries, expanding the study of biological sciences, the increasing number of cannabis testing facilities in these regions, the expanding number of pharmaceuticals sector, and legalising marijuana for medicinal purposes. Segmentation: Cannabis testing Market Analysis Report 2021-2029 Services (Revenue, USD Million) Heavy Metal Testing Microbial Analysis Potency Testing Pesticide Screening Residual Solvent Analysis Terpene Profiling Other Services Product & Software (Revenue, USD Million) Spectroscopy Instruments Atomic Spectroscopy Instruments Mass Spectrometry Instruments Analytical Instruments Chromatography Instruments Gas Chromatography Liquid Chromatography Other Chromatography Instruments Consumables Sample Handling Products Columns Supplies & Accessories Reference Standards Software Other Analytical Instruments By End User (Revenue, USD Million) Research Institutes Cannabis Testing Laboratories Large-scale Laboratories Medium-scale Laboratories Small-scale Laboratories By Region (Revenue, USD Million) North America U.S Canada Europe Germany France UK Spain Italy Rest of Europe Asia Pacific China Japan India Australia South Korea Rest of APAC Latin America Brazil Mexico Argentina Rest of LATAM Middle East & Africa South Africa GCC Rest of MEA Key Topics Covered: 1. Research Methodology 2. Introduction: Cannabis Testing 3. Executive Summary 4. Market Dynamics 5. Market Environment Analysis 6. COVID-19 Impact Analysis: Cannabis Testing Market 7. Market Analysis by Services 8. Market Analysis by Product & Software 9. Market Analysis by End Users 10. Regional Market Analysis 11. North America Cannabis Testing Market 12. Europe Cannabis Testing Market 13. Asia Pacific Cannabis Testing Market 14. Latin America Cannabis Testing Market 15. MEA Cannabis Testing Market 16. Competitor Analysis 17. Company Profiles 18. Conclusion 19. Recommendations Companies Mentioned Thermo Fisher Scientific (US) Steep Hill Inc. (US) Shimadzu Corporation (Japan) SGS Canada Inc. (Canada) SC Laboratories Inc. (US) Saskatchewan Research Council (Canada) PharmLabs LLC (US) MERCK KGAA (Germany) GreenLeaf Lab (US) DigiPath Inc. (US) CW ANALYTICAL (US) Agilent Technologies Inc. (US). For more information about this report visit https://www.researchandmarkets.com/r/agmsrb
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