Cannabis Testing Market Scope
Cannabis Testing defines different drugs test methods for the usage of cannabis in medical prescription, sports medicine, and law. Cannabis Testing market is expected to mark significant growth over forecasted period owing to increasing cannabis testing services, growing investment in R&D for exploring the medical use of cannabis and technological advancement. The major companies are adding more proven technologies systematically and strategically in Asia-Pacific countries as these countries are focused on fastest-growing verticals in the medical sector. Further, increasing demand for the genetic testing expected to drive the market growth over the forecasted period.
According to AMA, the Global Cannabis Testing market is expected to see growth rate of 11.7% Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Cannabis Testing market throughout the predicted period.
Agilent Technologies (United States), Shimadzu Corporation (Japan), PerkinElmer (United States), Millipore Sigma (United States), AB SCIEX LLC (United States), Waters Corporation (United States) and Restek Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Accelerated Technology Laboratories (United States) and LabLynx (United States).
Segmentation Overview
The study have segmented the market of Global Cannabis Testing market by Type (Analytical Instruments { Chromatography Instruments, Spectroscopy Instruments }, Consumables and Breathe Analyzer), by Application (Testing Laboratories, Drug Manufacturer, Research Institutes and Others) and Region with country level break-up.
On the basis of geography, the market of Cannabis Testing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Major Players are Increasing the Practice of Drug Testing and Growing Adoption of LIMS in Cannabis Testing Laboratories
Market Growth Drivers:
Increase Use of Cannabis in Medical Purposes. and Rapid Demand of Cannabis Testing Products from Luxury Cannabis Products.
Challenges:
Limitation Due to Initial Investments to Set up Laboratories are Anticipated to Challenge the Market. and Lack of Uniform Testing Standards.
Restraints:
Increasing Legalization on the Usage of Cannabis Hampers the Market., Lack of Skilled Professional in the Field of Testing of Cannabis. and High Price Associated within Cannabis Testing Equipment.
Opportunities:
Proliferation of Technological Advanced Equipment Such as Chromatography Leads to Boost Market. and Growing Approval of Cannabis for Recreational Activities.
Market Leaders and their Expansionary Development Strategies
In April 2019, Aurora Bolsters Anandia’s acquired Chemi Pharmaceutical. This acquisition is beneficial in providing independent cannabis testing capabilities. It also offers quality control analytical testing services to the pharmaceuticals and cannabis industries.
“According to Regulations of Connecticut State Agencies, its immediately prior to manufacturing any marijuana product or packaging raw marijuana for sale to a dispensary, a producer shall segregate all harvested marijuana into homogenized batches.”
Key Target Audience
Cannabis Testing Manufacturers, Cannabis Testing Traders, Research and Consulting Firms, End-Use Market Participants of Different Segments of Cannabis Testing, Government and Research Organizations, R&D Institutions and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.