Cannabis Testing Services Market Analysis, Size, Growth, Share, Trend, Outlook & Forecast to 2027
The global cannabis testing services market size is anticipated to reach USD 3.3 billion by 2027, expanding at a CAGR of 15.4%, according to a new report by Grand View Research, Inc. The growing acceptance of cannabis as a medicinal product, stricter quality checks, and rising demand for cannabinoid profile analysis to identify major strains are the key factors driving the market growth. Furthermore, the growing competition in the market is an important factor supporting the growth over the forecast period. Based on services type, potency testing dominated the market with a share of 21.7% in 2019. Rising cases of contamination and the need to determine the concentration of active cannabinoids present in cultivated plants are the key factors driving market growth. Moreover, the segment is anticipated to be the fastest-growing during the forecast period. The increasing usage of cannabis in drug development and research is one of the leading factors supporting market growth. Based on end-user, cannabis cultivators/growers dominated the market in 2019. Stringent quality checks on cultivated plants in a highly regulated market are influencing the demand for testing services. However, the segment is anticipated to be the fastest-growing segment over the forecast period. Pharmaceutical giants such as GW Pharmaceuticals plc, Sanofi, and Pfizer have entered the space for developing cannabinoid-based drugs, which is anticipated to be a key factor driving the market over the forecast period.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/cannabistesting-services-market North America dominated the market in 2019, with the market worth of USD 939.2 million. The presence of major testing laboratories and expanding marijuana and hemp cultivation in the region are the key factors driving the market in the region. On the other hand, Europe is expected to be the fastest-growing region, owing to a rising number of drug manufacturers in the region. Furthermore, many countries in the EU have banned derivatives containing more than 0.3% THC, which is further predicting a strong demand for the services Cannabis Testing Services Market Report Highlights
Potency testing service dominated the market in 2019 with a market share of 21.7%, owing to the rise in contamination cases
The cannabis drug manufacturer segment is anticipated to be the fastest-growing end-user segment, owing to the entry of large pharmaceutical companies in the marijuana space
North America dominated the market in 2019 with market size of USD 939.2 million, owing to the presence of major laboratories in the region.
Cannabis Testing Services Market Segmentation Grand View Research has segmented the global cannabis testing services market based on services type, end user, and region: Cannabis Testing Services Type Outlook (Revenue, USD Million, 2016 - 2027) Potency Testing
Terpene Profiling
Heavy Metal Testing
Pesticide Screening
Microscopy Testing
Residual Solvent Screening
Others
Cannabis Testing Services End-User Outlook (Revenue, USD Million, 2016 - 2027) Cannabis Drug Manufacturers
Cannabis Cultivators/Growers
Others (Research Institutes & Labs)
What questions do you have Get quick response from our industry experts @ https://www.grandviewresearch.com/request-free-consultation/450383/rfc
Cannabis Testing Services Regional Outlook (Revenue, USD Million 2016 - 2027) North America
o
U.S.
o
Canada
Europe o
U.K.
o
Germany
o
Italy
o
Poland
o
Netherland
o
Czech Republic
o
Switzerland
o
Croatia
Asia Pacific o
China
o
Australia
Latin America o
Uruguay
o
Colombia
o
Mexico
o
Argentina
o
Chile
MEA o
Israel
o
South Africa
List of Key Players of Cannabis Testing Services Market Saskatchewan Research Council (SRC)
SGS Canada Inc.
SC Labs
Steep Hill, Inc.
CW ANALYTICAL
PharmLabs
GreenLeaf Lab
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.1.1. Application 1.1.2. End use 1.1.3. Region scope 1.1.4. Estimates and forecast timeline 1.2. Research Methodology 1.3. Information Procurement 1.3.1. Purchased database 1.3.2. GVR’s internal database 1.3.3. Secondary sources 1.3.4. Primary research 1.3.5. Details of primary research
1.4. Information or Data Analysis 1.4.1. Data analysis models 1.5. Market Formulation & Validation 1.6. Model Details 1.6.1. Commodity flow analysis (Model 1) 1.6.1.1. Approach 1: Commodity flow approach 1.6.2. Volume price analysis (Model 2) 1.6.2.1. Approach 2: Volume price analysis 1.7. List of Secondary Sources 1.8. List of Primary Sources 1.9. Objectives 1.9.1. Objective 1 1.9.2. Objective 2 Chapter 2. Executive Summary 2.1. Market Outlook 2.2. Segment Outlook 2.2.1. Application outlook Continue……….. About Grand View Research, Inc.: Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact: Sherry James Corporate Sales Specialist, USA
Grand View Research, Inc Phone: 1-415- 349-0058 Toll Free: 1-888- 202-9519 Email: sales@grandviewresearch.com For More Information: http://www.grandviewresearch.com