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What key factors are powering the surge in the cannabis testing market right now?

The size of the cannabis testing market has seen a swift expansion in recent times. It is projected to increase from $3.02 billion in 2024 to a sizable $3.57 billion by 2025, demonstrating a compound annual growth rate (CAGR) of 18.0%. This significant growth during the historic period is driven by factors such as market globalization for cannabis, concerns over consumer safety, adherence to regulations, assurance of product quality, public health and safety, and supply chain transparency.

How fast Is the cannabis testing market expected to grow, and what’s its future value?

The strategic consulting sector is anticipated to witness robust expansion in the upcoming years, reaching a value of $219.94 billion by 2029 with a CAGR of 9.2%. This surge in forecasted growth is due to several factors including the necessity of digital transformation, sustainability and ESG issues, resilience planning and risk administration, alterations in consumer patterns, international economic dynamics, and geopolitical elements. Key trends for the projected period incorporate strategies for supply chain toughness, human resources and talent administration strategies, customer-focused business approaches, strategic alliances and M&A consulting, in addition to data privacy and adherence tactics.

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What are the leading drivers of growth in the cannabis testing market?

The expanding utilization of cannabis in the medical sector will likely stimulate the propulsion of the cannabis testing market in the future. Cannabis is employed to alleviate tension and muscle disorders, while reducing nausea and vomiting induced by chemotherapy treatments. Consequently, the consumption of cannabis for medicinal properties is on the rise. Besides, cannabis helps in mitigating the intensity of epileptic seizures, yielding a notable positive effect. For instance, in 2022, the World Health Organization reported that of the 147 million global population, 2.5% used cannabis. Thus, the surge in cannabis usage for medicinal purposes fuels the progression of the cannabis testing market.

What are the key segments defining the cannabis testing market?

The cannabis testing market covered in this report is segmented –

1) By Test Type: Potency Testing, Pesticide Screening, Residual Solvent Screening, Heavy Metal Testing, Terpene Testing, Mycotoxin Testing, Other Test Types

2) By Technology: Chromatography, Spectroscopy, Other Technologies

3) By Portability: Standalone, Hand Held Devices

4) By End User: Testing Laboratories, Drug Manufacturers, Research Institutes, Other End Users

Subsegments:

1) By Potency Testing: THC Testing, CBD Testing, Other Cannabinoids Testing

2) By Pesticide Screening: Herbicide Testing, Insecticide Testing, Fungicide Testing

3) By Residual Solvent Screening: Solvent Class Testing, Total Residual Solvent Analysis

4) By Heavy Metal Testing: Lead Testing, Arsenic Testing, Cadmium Testing, Mercury Testing

5) By Terpene Testing: Major Terpene Profile Analysis, Minor Terpene Analysis

6) By Mycotoxin Testing: Aflatoxin Testing, Ochratoxin Testing, Other Mycotoxins

7) By Other Test Types: Microbial Testing, Moisture Content Testing, Foreign Material Testing

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Who are the key players steering the development of the cannabis testing market?

Major companies operating in the cannabis testing market include Thermo Fisher Scientific Inc., Danaher Corporation, Merck KGaA, SGS Canada Inc., Eurofins Scientific SE, Agilent Technologies Inc., Sartorius AG, PerkinElmer Inc., Shimadzu Corporation, Waters Corporation, Ab Sciex LLC, LGC Limited, Tentamus Group, Phenomenex Inc., Saskatchewan Research Council (SRC), Restek Corporation, SC Laboratories, Anresco Labs, Praxis Labs, Accelerated Technology Laboratories Inc., GreenLeaf Lab, ACT Laboratories, PharmLabs LLC, Abko Labs, BelCosta Labs, Medicinal Genomics, CW Analytical Laboratories Inc, DigiPath Inc, CDX Analytics, Steep Hill Halent Laboratories Inc.

What emerging trends are influencing the growth of the cannabis testing market?

The primary trend gaining traction in the cannabis testing market is the development of strategic alliances. To consolidate their holdings, key firms in the cannabis testing market are forming collaborations. For example, in March 2022, Digipath Inc., a cannabis testing laboratory from the United States, collaborated with CASPR Technologies, a Nigerian company specializing in smart indoor environmental technology for healthcare. With this alliance, Digipath aims to examine and confirm the effectiveness of CASPR’s technology in botanical environments, specifically for cannabis and hemp.

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Which regions are most influential in expanding the cannabis testing market?

North America was the largest region in the cannabis testing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cannabis testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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