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Cannabis Testing Services Market to grow at a CAGR of 17.4% | Here's Why - MDC Research Study

Cannabis Testing Services Market - Vendor Assessment(Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MDC Research

/EIN News/ -- Pune, May 16, 2022 (GLOBE NEWSWIRE) -- Market Data Centre has published a new report titled “Global Cannabis Testing Services Market 2022-2030” The global cannabis testing services market is projected to expand at growth rate of nearly 17.4% over forecasting years due to increase in cannabis contamination cases including contamination due to heavy metals from soil, pesticides, fungus, and molds. Moreover, these pollutants cause severe fatalities and respiratory disorders. A large number of regulatory authorities such as the U.S. FDA have set up limits on use of residual solvents, pesticides, heavy metals, insecticides, microbes, and mycotoxins in farming activities.

Cannabis testing has evolved rapidly with massive use of cannabis in pharmaceuticals. Additionally, legalization of cannabis across various nations is likely to open new growth avenues for cannabis testing services market. In addition to this, some of the countries have strict laws towards testing of cannabis, thereby culminating towards expansion of cannabis testing services market.


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Key Findings From Study

  • Potency testing services, a sub-segment of services type segment, to register fastest growth over forecast timespan (2022-2030)
  • Cannabis cultivators/ Growers to capture huge revenue share of cannabis testing services market by 2030
  • North American testing services market To Establish Dominating Position In Next Six Years

Cannabis Testing Services Market: Competitive Space

Organizations in cannabis testing industry are trying to expand their regional presence through integration of new technologies with services. Moreover, cannabis testing services market is oligoly in nature with only few players offering cannabis testing solutions as cannabis use is prohibited in larger part across globe. However, a large number of countries are studying beneficial effects of using medicinal cannabis for treating patients having neurological disorders along with providing medicinal marijuana or hemp to patients during surgeries for lessening their pain. Extrensive research programs focusing on use of cannabis for medicial purpose has gained traction across globe, thereby offering new growth avenues for market as well as industry players.

Some of major brands have influenced growth of cannabis testing services market and will continue to do so even in ensuing years. They include SC Labs, GreenLeaf Lab, Saskatchewan Research Council, Steep Hill, Inc., PharmaLabs, SGS Canada Inc., and CW Analytical.


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Breakthroughs in cannabis testing services market

  • In first half of 2021, MCR Labs, a Massachusetts-based cannabis testing company, set up a lab in Allentown and is projected to approve products for applying for medical marijuana licenses
  • In first quarter of 2017, Shimadzu company introduced a cannabis analyzer for cannabinoid testing
  • In April 2019, Digipath, Inc., a cannabis testing service firm, declared joining hands with VSSL of Kelowna, BC, for filing provisional copyrights application for field testing kit for determining whether a plant sample is hemp, CBD, or THC
  • In January 2019, Digipath, Inc. declared that it will expand globally with the firm offering cannabis testing services in Columbia

Regional Analysis:

On the basis of Geography, the Global Cannabis Testing Services Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold a considerable share in the global Cannabis Testing Services Market. Due to increasing investment for research and development process and adoption of solutions in the region whereas Asia-Pacific is expected to grow at a faster pace during the forecasted period.

The growing number of Cannabis Testing Services Market players across regions is expected to drive market growth further. Moreover, increasing investments by prominent vendors in product capabilities and business expansion is expected to fuel the market during the study period. Many market players are finding lucrative opportunities in emerging economies like China and India, where the large populations are coupled with new innovations in numerous industries.

In deep ToC includes

233 – Tables

45 – Figures

300 – Pages


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Table of Contents     

1.      INTRODUCTION
1.1.   Market Definition
1.2.   Market Segmentation
1.3.   Geographic Scope
1.4.   Years Considered: Historical Years – 2017 & 2020; Base Year – 2021; Forecast Years – 2022 to 2030
1.5.   Currency Used
2.      RESEARCH METHODOLOGY
2.1.   Research Framework
2.2.   Data Collection Technique
2.3.   Data Sources
2.3.1.      Secondary Sources
2.3.2.      Primary Sources
2.4.   Market Estimation Methodology
2.4.1.      Bottom-Up Approach
2.4.2.      Top-Down Approach
2.5.   Data Validation and Triangulation
2.5.1.      Market Forecast Model
2.5.2.      Limitations/Assumptions of the Study
3.      ABSTRACT OF THE STUDY
4.      MARKET DYNAMICS ASSESSMENT
4.1.   Overview
4.2.   Drivers
4.3.   Barriers/Challenges
4.4.   Opportunities
5.      VALUE CHAIN ANALYSIS
6.      PRICING ANALYSIS
7.      SUPPLY CHAIN ANALYSIS
8.      MARKET SIZING AND FORECASTING
8.1.   Global - Cannabis Testing Services Market Analysis & Forecast, By Region
8.2.   Global - Cannabis Testing Services Market Analysis & Forecast, By Segment
8.2.1.      North America Cannabis Testing Services Market, By Segment
8.2.2.      North America Cannabis Testing Services Market, By Country
8.2.2.1.            US
8.2.2.2.            Canada
8.2.3.      Europe Cannabis Testing Services Market, By Segment
8.2.4.      Europe Cannabis Testing Services Market, By Country
8.2.4.1.            Germany
8.2.4.2.            UK
8.2.4.3.            France
8.2.4.4.            Rest of Europe (ROE)
8.2.5.      Asia Pacific Cannabis Testing Services Market, By Segment
8.2.6.      Asia Pacific Cannabis Testing Services Market, By Country
8.2.6.1.            China
8.2.6.2.            Japan
8.2.6.3.            India
8.2.6.4.            Rest of Asia Pacific (RoAPAC)
8.2.7.      Rest of the World (ROW) Cannabis Testing Services Market, By Segment
8.2.8.      Rest of the World (ROW) Cannabis Testing Services Market, By Country
8.2.8.1.            Latin America
8.2.8.2.            Middle East & Africa

ToC can be modified as per clients' business requirements*


Cannabis Testing Services Market - Vendor Assessment(Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MDC Research

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Key Questions Answered in This Report:

  •  What is the potential of the Cannabis Testing Services Market?
  • What is the impact of COVID-19 on the global Cannabis Testing Services Market?
  • What are the top strategies that companies adopting in Cannabis Testing Services Market?
  • What are the challenges faced by SME’s and prominent vendors in Cannabis Testing Services Market?
  • Which region has the highest investments in Cannabis Testing Services Market?
  • What are the latest research and activities in Cannabis Testing Services Market?
  • Who are the prominent players in Cannabis Testing Services Market?
  • What is the potential of the Cannabis Testing Services Market?
  • At MDC Research, we offer research solutions to help businesses break the barriers of doubt or uncertainties when they plan to expand their growth. Our researchers compile data and information that help chief executive officers decide which growth opportunities in a market to pursue.
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