Cannabis Testing Market is expected to grow at a rapid pace owing to the growing legalization of cannabis

Cannabis Testing market size reached USD 1.78 billion in 2023 and is expected to reach USD 4.11 billion by 2030, growing at a CAGR of 12.7 % during the forecast period. Cannabinoids are pharmacologically active compounds obtained from the hemp plant Cannabis sativa. Cannabis is the dried leaves, flowers, stems, and seeds of the cannabis Sativa or cannabis indica plant. This plant has been known to have medicinal importance for thousands of years, mainly as an anti-inflammatory, or to relieve pain, anxiety, or mania. Cannabis is gaining popularity all across the world and it is one of the most used drugs on the globe. Cannabis drug testing has acquired popularity in the pharmaceutical, sports, and legal sectors. All batches of cannabis flowers and products must be sampled and tested by licensed laboratories before being delivered to retailers. Governments' strict regulatory standards to ensure higher product quality are set to accelerate market growth. The United Nations currently estimates that 158.8 million people use cannabis worldwide, creating a whole new market within the pharmaceutical sector. The legal use of cannabis for medical purposes is constantly increasing, although it differs per country based on possession, distribution, production, and medical indications for its consumption. Different states and areas have established their own norms and regulations for what must be tested and printed on cannabis product labeling. Increasing approvals for cannabis-based drugs are expected to fuel the worldwide cannabis testing services market growth over the forecast period. Various market players such as Merck KGaA, Shimadzu Corporation, and PerkinElmer are provides products and software to the cannabis testing industry.Cannabis Testing MarketTo know about the Research Methodology :- Request Free Sample Report

Cannabis Testing Market Dynamics:

Used to treat a variety of neurological and mental conditions Cannabis has been studied in various medical disorders including neurological disorders and it is used for medicinal purposes for more than 4 millennia. The World Health Organization estimates that 450 million people worldwide suffer from mental illnesses and it is one of the main causes of sickness and disability worldwide. The most prevalent mental condition is depression, affecting more than 264 million individuals of all ages all over the world. Cannabis and cannabinoids have been shown to have a positive impact on a variety of neurological disorders in humans, including neuropathic pain, migraine, multiple sclerosis, Parkinson’s disease, Huntington’s disease, and motor neuron disease. Thus the demand for Cannabis is increasing because of rising awareness of using cannabis and increased use of software services for the lab testing of cannabis. Numerous organizations accredit labs that do analytical testing on goods derived from hemp and cannabis. The need for cannabis testing would increase the number of laboratories offering cannabis testing services because testing cannabis products is necessary to prove their safety and effectiveness. Cannabis Testing MarketCannabis legalization and government support are boosting the worldwide cannabis testing market. The need for analytical testing of cannabis to ensure its safety before human consumption has grown in recent years as medical cannabis is becoming approved in several nations and states throughout the globe. Growing drug usage for medicinal reasons has contributed to the legalization of cannabis in different countries worldwide. Government agencies in a number of nations in North America, Europe, and South America have strictly legalized the use of medical cannabis for limited purposes in certain forms. About 40 nations worldwide permit the limited or authorized use of marijuana-authorized Ayurveda medicines or prescription distribution. Legal cannabis is beneficial in numerous medical uses, such as decreasing chemotherapy-related nausea, stimulating appetite in AIDS patients, managing muscle spasms in multiple sclerosis patients, and reducing intraocular pressure in patients with glaucoma. Policymakers have legalized the use of medical cannabis in different countries owing to its medicinal effects. A few government departments are undertaking laboratory investigations on cannabis products to help the cannabis industry's growth. For plant testing, various regulatory authorities have started to set overall restrictions for residual solvents, bug sprays, contaminants, heavy metals, microorganisms, and mycotoxins. It also resulted in the establishment of several new laboratories, mostly in developing regions. Experts in the field estimate that the number of cannabis testing laboratories is expected to rise over the forecast period owing to the drug's growing legalization and rise in the need for analytical tools, software, and testing services for cannabis. Cannabis Testing MarketLeading market players are focusing on new product launches that are expected to drive the Cannabis Testing market The increased focus on new product launches by key players in the market is expected to propel the growth of the worldwide cannabis testing services market over the forecast period. For instance, in March 2022, Stade Arzneimittel, a pharmaceutical company in Germany, announced the introduction of its medicinal cannabis portfolio under the CannabiStada brand which contains medical cannabis. Both cannabis flowers and whole extracts have been made available by the organization, especially for people with chronic pain who had not gotten relief from opioid-based conventional treatment. With the launch of cannabistada, Stada Arz became one of the first businesses in the German market to provide medical cannabis. Cannabis Testing MarketRecent Developments in Medical Research for Cannabis Testing The growing success of cannabis-based medical products is strongly correlated to the relaxation of the previously insurmountable bureaucratic hurdles along with humans’ ancient relationship with this pharmacologically active plant. Cannabis extracts are growing in medical research; even throughout the pandemic, there has been a steady demand for this machinery. Finally, cannabis dispensaries have been designated as "vital businesses" in numerous American regions. Therefore, it is forecasted that these improvements would have a beneficial impact on the Cannabis Testing market growth. Heavy metals, potency, pesticides, terpene profiles, residual solvents, moisture, microbial and fungal development, and mycotoxins/aflatoxin are tested for in cannabis extracts. There is a lot of use of tools like HPLC, gas chromatography, and liquid chromatography. Techniques for chromatography are frequently used to reduce contamination. They can effectively clean cannabis and hemp extracts of pollutants like fungicides, pesticides, herbicides, synergists, and heavy metals at a reasonable price. Using chromatography, THC levels in cannabis extracts can also be decreased. Numerous additional businesses, like Aurum Labs, WATERS, and CannaSafe Inc., among others, also provide a variety of products. Major corporations' presence is expected to drive market growth owing to the increasing availability of products. High start-up costs for testing facilities for cannabis are expected to hamper the market growth One of the major issues facing this industry is the high start-up expenditures for cannabis testing labs. These labs are required to make large financial investments in the procurement and maintenance of expensive, cutting-edge analytical equipment. The standardization and upgrading of equipment, software requirements, accreditations and certifications (such as ISO certification processes), and the demand for competent persons all increase the cost of operations. Because of the uncertainty surrounding the cannabis testing sector, many banks refuse to provide finance or any other kind of support to these laboratories, which has an even bigger effect. Several municipalities are working on a schedule to apply taxes to cannabis testing facilities. Therefore, maintaining profitable operations after making big investments is a huge problem, particularly for small/start-up cannabis testing laboratories. Analytical equipment with sophisticated features and functions, such as chromatography, spectroscopy, and PCR systems, are more expensive. These instruments may be purchased for anywhere between 100,000 and 500,000 U.S. dollars. Due to their limited funding, small and medium-sized cannabis testing labs are unable to use such expensive methods. Additionally, the cost of maintenance and a number of other indirect costs for these systems raise their overall cost of ownership.

Cannabis Testing Market Segment Analysis:

By Type, the Potency testing services led the market in terms of service type in 2023 with a revenue share of 23.7 %. The market is primarily being driven by an increase in the demand for analyzing the potency of various cannabinoids, particularly CBD (Cannabidiol) and Tetra hydro cannabinol (THC) in grown cannabis, as well as an increase in the use of efficient potency testing techniques like Gas Chromatography (GC) and High-Performance Liquid Chromatography (HPLC) for testing samples. By End-user, the Cannabis farmers and cultivators held the majority of the market's revenue in 2023, accounting for 64.2% of all sales. Because of official regulations on the amount of THC that can be found in cannabis products in many nations, growers are establishing contracts with testing labs and research institutions. Additionally, these producers must offer several plant varieties at various costs to manufacturers and wholesalers according to their CBD and THC concentrations. These are the main elements promoting the segment's growth.

Cannabis Testing Market Regional Insights

In the North American region, the Cannabis Testing market is expected to witness significant growth at a CAGR of 15.7% during the forecast period. The presence of a high number of producers in the area and an increase in testing labs as a result of the strict regulations the government has established for marijuana growers are the main drivers of the market growth in this area. More than 100,000 people in Canada were diagnosed with Parkinson's disease in 2021, and 6,600 additional instances are researched to be diagnosed each year, according to UCB Canada Inc., a significant biopharmaceutical business established in Canada. Approx 60,000 persons in the US receive a Parkinson's disease diagnosis each year, according to the Parkinson's Foundation of America. Products with CBD extracted from cannabis are used to treat some Parkinson's and other neurological illnesses symptoms. These high incidence rates are forecasted to boost market growth. One of the first nations to allow the cultivation and usage of cannabis were Canada. Asia Pacific's cannabis testing market is expected to witness the highest growth during the forecast period. Growing awareness about drug testing and price reduction, the increasing biopharmaceutical sector, rising life science research, rising investments by pharmaceutical and biotechnology firms, the growing number of cannabis testing labs in the country, and the legalization of cannabis for medicinal use are projected to drive the industry during the forecast period. The Europe cannabis testing market is predicted to register a substantial share in the global market during the forecast period owing to the increasing legalization of cannabis in major European countries and the increasing use of the herb in drug production and research in this region. Cannabis Testing MarketThe Cannabis Testing Market report forecasts revenue growth at global, and country levels and provides an analysis of the latest industry trends in each of the sub-segments during the forecast period. MMR has segmented the global Cannabis Testing Market report based on Component, Deployment Mode, Organization Size, End-User, and region. The report contains strategic profiling of top key players in the market, a wide-ranging analysis of their core competencies, and their strategies like new product launches, growths, agreements, joint ventures, partnerships, and acquisitions that apply to the businesses. Our team of analysts can also provide you with data in excel files and pivot tables or can assist you in creating presentations from the data sets available in the report.

Cannabis Testing Market Scope: Inquire Before Buying

Global Cannabis Testing Market
Report Coverage Details
Base Year: 2023 Forecast Period: 2024-2030
Historical Data: 2018 to 2023 Market Size in 2023: US $ 1.78 Bn.
Forecast Period 2024 to 2030 CAGR: 12.7 % Market Size in 2030: US $ 4.11 Bn.
Segments Covered: by  Service Type Potency Testing Terpene Profiling Heavy Metal Testing Pesticide Screening Microscopy Testing Residual Solvent Screening
by End-user Cannabis Drug Manufacturers Cannabis Cultivators/Growers Others (Research Institutes & Labs)
by Technology Chromatography Liquid Chromatography Gas Chromatography Other Spectroscopy Mass Spectrometry Atomic Spectrometry Others

Cannabis Testing Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Cannabis Testing Market, Key Players are:

1. Saskatchewan Research Council (SRC) 2. SC Labs 3. Steep Hill, Inc. 4. SGS Canada Inc. 5. CW ANALYTICAL 6. PharmLabs 7. GreenLeaf Lab 8. Agilent Technologies Inc. 9. Shimadzu Scientific Instruments 10. Merck KGaA 11. Restek Corporation 12. PerkinElmer Inc., 13. Danaher Corporation 14. Accelerated Technology Laboratories Inc. 15. Steep Hill Halent Laboratories Inc. 16. Digipath Inc. 17. Pharmlabs LLC. FAQs: 1. Who are the key players in the Cannabis Testing market? Ans. Merck KGaA, Shimadzu Corporation, and PerkinElmer are some of the market players in the Cannabis Testing industry. 2. Which Component segment dominates the Cannabis Testing market? Ans. The Potency Testing segment accounted for the largest share of the global Cannabis Testing market in 2023. 3. Which end-user segment of the global Cannabis Testing market is expected to witness the highest growth? Ans. The Cannabis Cultivators/Growers segment accounted for the highest revenue share due to official regulations on the amount of THC that can be found in cannabis products. 4. How big is the Cannabis Testing market? Ans. The global Cannabis Testing market size reached USD 1.78 billion in 2023 and is expected to reach USD 4.11 billion by 2030, growing at a CAGR of 12.7 % during the forecast period. 5. What are the key regions in the global Cannabis Testing market? Ans. Based On the region, the market has been classified into North America, Europe, Asia Pacific, Middle, East and Africa, and Latin America. North America dominates the global Cannabis Testing market.
1. Global Cannabis Testing Market: Research Methodology 2. Global Cannabis Testing Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Cannabis Testing Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Cannabis Testing Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Cannabis Testing Market Segmentation 4.1 Global Cannabis Testing Market, by Service Type (2023-2030) • Potency Testing • Terpene Profiling • Heavy Metal Testing • Pesticide Screening • Microscopy Testing • Residual Solvent Screening 4.2 Global Cannabis Testing Market, by End-user (2023-2030) • Cannabis Drug Manufacturers • Cannabis Cultivators/Growers • Others (Research Institutes & Labs) 4.3 Global Cannabis Testing Market, by Technology (2023-2030) • Chromatography o Liquid Chromatography o Gas Chromatography o Other • Spectroscopy o Mass Spectrometry o Atomic Spectrometry • Others 5. North America Cannabis Testing Market(2023-2030) 5.1 North America Cannabis Testing Market, by Service Type (2023-2030) • Potency Testing • Terpene Profiling • Heavy Metal Testing • Pesticide Screening • Microscopy Testing • Residual Solvent Screening 5.2 North America Cannabis Testing Market, by End-user (2023-2030) • Cannabis Drug Manufacturers • Cannabis Cultivators/Growers • Others (Research Institutes & Labs) 5.3 North America Cannabis Testing Market, by Technology (2023-2030) • Chromatography o Liquid Chromatography o Gas Chromatography o Other • Spectroscopy o Mass Spectrometry o Atomic Spectrometry • Others 5.4 North America Cannabis Testing Market, by Country (2023-2030) • United States • Canada • Mexico 6. Europe Cannabis Testing Market (2023-2030) 6.1. European Cannabis Testing Market, by Service Type (2023-2030) 6.2. European Cannabis Testing Market, by End-user (2023-2030) 6.3. European Cannabis Testing Market, by Technology (2023-2030) 6.4. European Cannabis Testing Market, by Country (2023-2030) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Cannabis Testing Market (2023-2030) 7.1. Asia Pacific Cannabis Testing Market, by Service Type (2023-2030) 7.2. Asia Pacific Cannabis Testing Market, by End-user (2023-2030) 7.3. Asia Pacific Cannabis Testing Market, by Technology (2023-2030) 7.4. Asia Pacific Cannabis Testing Market, by Country (2023-2030) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Cannabis Testing Market (2023-2030) 8.1 Middle East and Africa Cannabis Testing Market, by Service Type (2023-2030) 8.2. Middle East and Africa Cannabis Testing Market, by End-user (2023-2030) 8.3. Middle East and Africa Cannabis Testing Market, by Technology (2023-2030) 8.4. Middle East and Africa Cannabis Testing Market, by Country (2023-2030) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Cannabis Testing Market (2023-2030) 9.1. South America Cannabis Testing Market, by Service Type (2023-2030) 9.2. South America Cannabis Testing Market, by End-user (2023-2030) 9.3. South America Cannabis Testing Market, by Technology (2023-2030) 9.4 South America Cannabis Testing Market, by Country (2023-2030) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Saskatchewan Research Council (SRC) 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 SC Labs 10.3 Steep Hill, Inc. 10.4 SGS Canada Inc. 10.5 CW ANALYTICAL 10.6 PharmLabs 10.7 GreenLeaf Lab 10.8 Agilent Technologies Inc. 10.9 Shimadzu Scientific Instruments 10.10 Merck KGaA 10.11 Restek Corporation 10.12 PerkinElmer Inc., 10.13 Danaher Corporation 10.14 Accelerated Technology Laboratories Inc. 10.15 Steep Hill Halent Laboratories Inc. 10.16 Digipath Inc. 10.17 Pharmlabs LLC.