Cannabis Testing Market - Trends Forecast Till 2028

Cannabis Testing Market, By Product (Instruments, Consumables, LIMS) Services (Heavy Metal Testing, Microbial Analysis, Potency, Residual Screening), End-User (Cultivators, Laboratories, Research Institutes) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: January, 2021

Base Year Estimate: 2020

Report ID: D-PH-CTM-94

Format:  

Number of Pages: 197

Domain: Pharmaceutical

Cannabis Testing Market – Trends Forecast Till 2028

Global Cannabis Testing Market is anticipated to reach USD 967.5 million in 2021 growing at a CAGR of 13.9% during the forecasting period, 2021-2028. 

Cannabinoids are a class of chemicals derived from the plants belonging to the cannabis genus primarily Cannabis Sativa. For the extraction of the pure cannabinoid from the chemicals in the plant 4 steps are followed. The steps are 1. Solid/liquid extraction 2. Winterisation 3. Filtration 4. Dry down. After following the steps pure cannabinoids are obtained as a dry powder. Cannabis is known to have a profound effect on the brain and CNS by binding to receptors there. The main chemical compound that binds to the receptors is tetrahydrocannabinol. These are given in the case of surgery or conditions of extreme pain to the patients.

With the surge in laboratories researches for cannabis testing and integration of LIMS (laboratory information management system) along with increased recognition and medical legalization of cannabis are some of the factors that have supported long-term expansion for the cannabis testing industry. 

Cannabis Testing Market – Trends Forecast Till 2028

Global Cannabis Testing Market is segmented into product, services, end-user, and geography.

Product segment is segmented into Instruments, Consumables, and LIMS

Services segment is segmented into Heavy Metal Testing, Microbial Analysis, Potency, and Residual Screening

End-User segment is segmented into Cultivators, Laboratories, and Research Institutes

Geographically, the global Cannabis Testing Market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions

Key players in global Cannabis Testing Agilent Technologies, Inc. (US), Shimadzu Corporation (Japan), MERCK KGAA (Germany), Thermo Fisher Scientific (US), DigiPath, Inc. (US), Steep Hill Inc. (US), SC Laboratories, Inc. (US), and PharmLabs LLC (US) others. 

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Research Methodology

Secondary Research

This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, conferences like Jefferies conference)—to identify and collect information useful for this study of the Global Cannabis Testing Market. The purpose of secondary research was to identify and collection of extensive, technical, market-oriented, and commercial study the global Global Cannabis Testing Market. Through secondary research, the market is classified and segmented as per industry trends, developments, regional markets. products, and technological development. 

Primary Research

The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology used in drafting this report on the Global Cannabis Testing Market.

Primary Respondent breakdown is given below:

Primary Respondents

Market Sizing

Top-down and bottom approaches were used to derive the market estimate and validate the total revenue of the Global Cannabis Testing Market. This approach has also been used to derive the market for segmentation and sub-segmentation. 

Data Validation

Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data, we contact primary respondents in order to gain a 98.8% of confidence level on our data.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants 

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Global Cannabis Testing Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Market Revenue In 2021

USD  967.5 million

Growth Rate

CAGR of 13.7% during the forecasting period, 2021-2028

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year 

2020

Units Considered

Revenue in USD million and CAGR from 2021 to 2028

Report Segmentation

Product, Application, End-User, and Geography

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and the Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Agilent Technologies, Inc. (US), Shimadzu Corporation (Japan), MERCK KGAA (Germany), Thermo Fisher Scientific (US), DigiPath, Inc. (US), Steep Hill Inc. (US), SC Laboratories, Inc. (US), and PharmLabs LLC (US).

Available Customization 

In addition to the market data for Global Cannabis Testing Market, Delvens offers client-centric reports and customized according to the company’s specific demand and requirement.

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