Home Press Releases Cannabis Testing Service Market Size Worth US$ 3.4 Billion by 2027 | CAGR: 14.9%

Cannabis Testing Service Market Size Worth US$ 3.4 Billion by 2027 | CAGR: 14.9%

The global cannabis testing service market expected to reach US$ 3.4 billion by 2027 according to a new study by Polaris Market Research. The report “Cannabis Testing Service Market Share, Size, Trends, Industry Analysis Report, By Service (Potency Testing, Terpene Profiling, Heavy Metal Testing, Pesticide Screening, Microscopy Testing, Residual Solvent Screening, and Others); By End-Use; By Regions; Segment Forecast, 2020 – 2027gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

With the growing need to contain drug abuse and adulteration in cannabis, there is a strong need for quality testing labs in developed economies, this acts as a pivotal factor in boosting the sale of cannabis. Moreover, the positive scenario of scientific literature, clinical trials, and consumer awareness is creating a strong favorable narrative for the market.

 

The global cannabis testing service industry is fragmented based on service, end-use, and region. In terms of service, the market is segmented into potency test, terpene profiling, heavy metal test, pesticide screening, microscopy test, residual solvent screening, and others. Based on end-use, the market is further bifurcated into drug manufacturers, cultivators/growers, and research institutes & labs.

 

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Segment Highlights

  • The potency test segment is estimated to hold a major share in the global cannabis testing service industry, as the use of cannabis is rising in medicinal purposes. The segment is expected to witness significant growth over the forecast period.
  • Based on end-use, the cannabis cultivators/growers’ segment is projected to constitute almost half of the market in 2027. The high share is attributed to the fact that most of the cultivator desire to have in-house testing capabilities.
  • North America market accounted for the dominant share in 2019 in terms of revenue owing to the growing research & development in the field of hemp for medical use. In addition, the growing demand for marijuana in healthcare industry is likely to complement market growth

 

List of Key Players

  • Shimadzu Corporation
  • Agilent Technologies
  • PerkinElmer, Inc.
  • Waters Corporation
  • CannaSys, Inc.
  • PharmLabs, LLC
  • Saskatchewan Research Council (SRC)
  • Eurofins Scientific
  • CW ANALYTICAL
  • GreenLeaf Lab
  • Praxis Laboratory
  • SGS Canada Inc.

 

Polaris Market Research has segmented the cannabis testing service market report on the basis service type, end-use, and region

Cannabis Testing Service, Service Outlook (Revenue – USD Million, 2016 – 2027)

  • Potency Test
  • Terpene Profiling
  • Heavy Metal Test
  • Pesticide Screening
  • Microscopy Test
  • Residual Solvent Screening
  • Others

Cannabis Testing Service, End-Use Outlook (Revenue – USD Million, 2016 – 2027)

  • Cannabis Drug Manufacturers
  • Cannabis Cultivators/Growers
  • Others (Research Institutes & Labs)

Cannabis Testing Service, Regional Outlook (Revenue – USD Million, 2016 – 2027)

  • North America
    • U.S.
    • Canada
  • Europe
    • France
    • Germany
    • UK
    • Italy
    • Spain
    • Netherlands
    • Austria
  • Asia Pacific
    • China
    • India
    • Japan
    • Malaysia
    • South Korea
    • Indonesia
  • Central & South America
    • Mexico
    • Brazil
    • Argentina
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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