Cannabis Testing Services Market, By Test Type (Potency Testing, Terpene Profiling, Cannabinoid Profiling, Pesticide Screening, Residual Solvent Testing, Microbiological Screening), End User (Cannabis Firms, Homecare Settings, Research Institutes) ,and By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and the Rest of the World) – Market Size & Forecasting (2017-2028)

The Global Cannabis Testing Services Market size was valued at USD 906.4 million in 2018 and is anticipated to grow at a CAGR of 11.4% during the forecast period. The cannabis market is highly influenced by rigorous legalization efforts, that are aiming for approval of cannabis for medicinal or recreational purposes. Various governments and regulatory authorities are taking efforts to permit cannabis, because of its medicinal advantages. Moreover, the commercialization of cannabis-based products under the legalized standards require in cannabis testing, which further leads to the moneymaking growth opportunity for market players.

Cannabis Testing Services Market Stats

Cannabis Testing Services Market Statistics

The cannabis testing service market is expected to witness significant growth over the forecast period, because of the legalization of cannabis for medicinal and recreational activities in key regions. For example, in 2018, the parliament of Canada passed a law legalizing nationwide use of marijuana for recreational purposes. Furthermore, in Feb 2016, the Australia government amended the Narcotics medicine Act 1967 to permit the cultivation of cannabis for medicinal or scientific purposes under a national licensing scheme, that is expected to favor the growth of the industrial manufacturing of cannabis in different regions of Australia.

Key Factors Impacting the Growth of Cannabis Testing Services Market:

  • Increasing research and development activities to improve the productivity and quality of cannabis products is expected to boost market growth.

The cannabis testing services market segmentation is based on test type, end user and region.

Cannabis Testing Services Market Segments

Cannabis Testing Services Market Segmentation

Test Type Outlook:

Among test type, the cannabinoid profiling segment is expected to dominate the market. Cannabinoid profiling offers accurate information to cultivators, cannabis-based product manufacturers, patients, and caregivers regarding the concentration of active cannabinoids in their cannabis sample.

End User Outlook:

In terms of end user type, the market is segmented into cannabis firms, home care settings, and research institutes. Cannabis Firms is going to dominate the market because of the legal cannabis industry continues to develop and public support for the legalization of recreational and medical marijuana use grows, an increasing number of investors have taken note.

Cannabis Testing Services Market Region

Cannabis Testing Services Market Regional Analysis

Regional Outlook:

Based on the region, the global cannabis testing services market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. In terms of revenue, North America holds a dominant position in the cannabis testing services market. The region's dominance is attributable to legalization of medical cannabis, and increasing awareness through conferences, symposia, and workshops. Several studies have demonstrated the therapeutic effects of cannabinoids for nausea and vomiting in the advanced stages of illnesses such as cancer and AIDS. dronabinol (tetrahydrocannabinol) has been out there by prescription for more than a decade in the USA. Different therapeutic uses of cannabinoids are being demonstrated by controlled studies, including treatment of asthma and glaucoma, as an antidepressant, appetite stimulant, and anticonvulsant and anti-spasmodic, research in this area should continue.

The report analyzes factors affecting the cannabis testing services market from both demand and supply side and further analyses market dynamics affecting the market during the forecast year such as driver, restrain, opportunities and future trends. The report also provides comprehensive Porter’s model analysis on the cannabis testing services market for all six regions namely; North America, Western Europe, Eastern Europe, Asia Pacific, Middle East and the Rest of the world.

Competitive Landscape

The key leading players in the market include 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.

This report also includes the profiles of key cannabis testing services market companies along with their SWOT analysis and market strategies. In addition, these competitive landscapes provide a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launch, new product developments, and other latest industrial developments.

Key Developments in Cannabis Testing Services Market:

  • In November 2018, University of Moncton, located in New Brunswick, Canada, announced a partnership with the Government of Canada, Genome Atlantic, Genome Canada, New Brunswick Innovation Foundation, and Organigram to advance cannabis research and to increase its productivity. The purpose of this collaborative, innovative, and research-driven partnership is to help improve the productivity and quality of cannabis products.
  • In November 2018, Strainprint Technologies Ltd., a company focused on cannabis data and analytics, announced a partnership with Israel-based companies, Lumir Lab and Gynica to conduct the world's first international clinical study on the use of cannabis for the treatment of endometriosis. The objective of the study is to develop clinically-validated cannabinoid-based products that can be approved for international distribution.
  • In March 2017, U.S.-based Steep Hill Labs, Inc. entered into a strategic partnership with iCAN: Israel-Cannabis, an Israel-based medical marijuana company, to establish a testing lab in Israel. Moreover, Steep Hill Labs, Inc. also announced plans to expand operations to six western European markets in 2018.
  • In March 2019, Blueberries Medical Corp., a Colombia-based licensed medicinal cannabis producer, entered into a binding agreement to acquire cannabis cultivation, processing, manufacturing, export, and other rights in Argentina from BBV Labs Inc.

Cannabis Testing Services Market

Cannabis Testing Services Market Timeline (2017-2028)

What Does This Report Provide?

This report provides a detailed understanding of the cannabis testing services market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.

Market Segmentation:

By Test Type

  • Potency Testing
  • Terpene Profiling
  • Cannabinoid Profiling
  • Pesticide Screening
  • Residual Solvent Testing
  • Microbiological Screening

By End User

  • Cannabis Firms
  • Homecare Settings
  • Research Institutes

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Test Type
    • By End User
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Test Type
    • By End User
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Test Type
    • By End User
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Test Type
    • By End User
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Test Type
    • By End User
  • Rest of the World
    • By Region (South America, Africa)
    • By Test Type
    • By End User

Reasons to Buy This Report:

  • Market size estimation of the cannabis testing services market on a regional and global basis
  • Unique research Usage for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

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