Cannabis Testing Services Market New Tech Developments and Advancements to Watch Out for 2027!!
Global Cannabis Testing Services Market, by Test Type (Pesticide Screening, Microbiological Screening, Terpene Profiling, Residual Solvent Testing, Potency Testing, Cannabinoid Profiling and Other Tests), by End User (Research Institutes, Cannabis Firms and Homecare Settings), and by Region (Latin America, Europe, Asia Pacific, North America, Africa, and Middle East). According to a recent report published by Coherent Market Insights, the market was worth US$ 114.3 million in 2017 and is expected to grow at an annual rate of 8.5 percent from 2018 to 2026.
Growing research and development activities to improve the quality and productivity of cannabis product is expected to fuel the market development. For example, in November 2018, University of Moncton, situated in New Brunswick, Canada, reported an organization with the Government of Canada, Genome Atlantic, Genome Canada, New Brunswick Innovation Foundation, and Organogram to propel cannabis research and to expand its efficiency. The motivation behind this research-driven, collaborative and innovative partnership is to help improve the productivity of cannabis products.
Furthermore, in November 2018, Strainprint Technologies Ltd., a cannabis data and analytics firm, announced a collaboration with Lumir Lab and Gynica, both based in Israel, to conduct the world’s first international clinical study on the use of cannabis to treat endometriosis. The study’s aim is to create cannabinoid-based products that have been clinically tested and can be licensed for international distribution.
In order to gain high market share, research laboratories in the cannabis testing service market are focused on strategic mergers and acquisitions. For example, Steep Hill Labs, Inc., based in the United States, formed a strategic alliance with iCAN: Israel-Cannabis, an Israeli medical marijuana company, in March 2017 to open a testing lab in Israel. Steep Hill Labs, Inc. also announced plans to extend its operations in 2018 to six Western European markets.
Blueberries Medical Corp., a Colombia-based licenced medicinal cannabis manufacturer, signed a binding agreement with BBV Labs Inc. in March 2019 to obtain cannabis production, processing, manufacturing, export, and other rights in Argentina.
Washington state regulators addressed reforms to the recreational marijuana policy in January 2019, including the possibility of requiring pesticide testing in the near future. Pesticide screening demand is expected to increase as a result of the implementation of regulations for cannabis pesticide screening in the United States, driving the segment’s growth over the forecast period.
Due to increased research and development and acquisition activities related to cannabis, the global cannabis testing services market is projected to grow at an annual rate of 8.5 percent during the forecast period (2018–2026).
In 2026, the cannabinoid profiling segment is expected to be the most profitable test form. Cannabinoid profiling provides detailed information on the concentration of active cannabinoids in cannabis samples to cultivators, cannabis-based pharmaceutical producers, patients, and caregivers.
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Cannabis Testing Services Market – Competitive Landscape
Key players functioning in the global prosthetic liners market consists of SC Laboratories Inc., Eurofins Scientific, EVIO Labs, ProVerde Laboratories, Inc., Praxis laboratory, Cascadia Labs, Encore labs, SGS Canada Inc., Pharm Labs LLC, and Agricore Laboratories
Main points in Cannabis Testing Services Market Report Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Cannabis Testing Services Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Cannabis Testing Services Industry Impact
Chapter 2 Global Cannabis Testing Services Competition by Types, Applications, and Top Regions and Countries
2.1 Global Cannabis Testing Services (Volume and Value) by Type
2.3 Global Cannabis Testing Services (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Cannabis Testing Services Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Cannabis Testing Services Market Analysis
Chapter 6 East Asia Cannabis Testing Services Market Analysis
Chapter 7 Europe Cannabis Testing Services Market Analysis
Chapter 8 South Asia Cannabis Testing Services Market Analysis
Chapter 9 Southeast Asia Cannabis Testing Services Market Analysis
Chapter 10 Middle East Cannabis Testing Services Market Analysis
Chapter 11 Africa Cannabis Testing Services Market Analysis
Chapter 12 Oceania Cannabis Testing Services Market Analysis
Chapter 13 South America Cannabis Testing Services Market Analysis
Chapter 14 Company Profiles and Key Figures in Cannabis Testing Services Business
Chapter 15 Global Cannabis Testing Services Market Forecast (2021-2027)
Chapter 16 Conclusions
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