The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s cannabis testing market report forecasts the cannabis testing market size to grow to $4.78 Billion by 2027, with a CAGR (compound annual growth rate) of more than 17%.

Learn More On The Cannabis Testing Market Report 2023 – https://www.thebusinessresearchcompany.com/report/cannabis-testing-global-market-report

Cannabis Testing Market Size Forecast
The global cannabis testing market is expected to grow from $2.1 billion in 2022 to $2.49 billion in 2023 at a compound annual growth rate (CAGR) of 18.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cannabis testing market size is expected to grow to $4.78 billion in 2027 at a CAGR of 17.8%.

North America held the largest cannabis testing market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Cannabis Testing Market Driver ­– Growth In Usage Of Cannabis As A Medicinal Product
For instance, in 2022, according to the World Health Organization, among the 147 million world population, 2.5% of people consumed cannabis. Therefore, the growing usage of cannabis as a medicinal product drives the cannabis testing market.

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Key Cannabis Testing Market Trend – Strategic Partnerships
Major companies operating in the cannabis testing market are undergoing partnerships to strengthen their position. For instance, in November 2020, Shimadzu Scientific Instruments, a Japan-based manufacturer of cannabis testing instruments, partnered with McCann Testing, a US-based medical cannabis testing lab. Through this partnership, Shimadzu would supply MoCann with instruments and support MoCann testing efforts with training, method development, and maintenance. Moreover, in March 2022, Digipath Inc., a US-based cannabis testing laboratory, partnered with CASPR Technologies, a Nigeria-based provider of smart environmental indoor technology for healthcare. Through this partnership, Digipath will test and validate the efficacy of CASPR’s technology in botanical applications, specifically for cannabis and hemp.

Cannabis Testing Market Segment
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

Cannabis Testing Market Major Players and Strategies
Major players in the cannabis testing market are Agilent Technologies Inc., Shimadzu Corporation, DigiPath Inc., Steep Hill Inc., SC Laboratories, PharmLabs LLC, Waters Corporation, CW Analytical Laboratories Inc., PerkinElmer Inc., Restek Corporation, Ab Sciex LLC, Danaher Corporation, Praxis Labs, Phenomenex, and Anresco Labs.

In December 2020, Kennebec Analytical Services, a US-based company that provides full-service analytical testing and consulting, acquired Cannabis Testing Laboratories (CTL) from Doane University for an undisclosed amount. Through this acquisition, the combined offerings of KAS and CTL are expected to expand full-service testing and consultation services in Nebraska. This would allow them to meet each client’s business goals, from harvesting to processing, as this is essential to drive product development and marketing, as well as meet state and federal regulatory guidelines. Doane University Cannabis Testing Laboratories (CTL) is a US-based wholly-owned subsidiary of parent firm Doane University that has established itself as Nebraska’s first cannabis testing lab which provides cannabis testing.

The Cannabis Testing Global Market Report 2023 covers regional data on cannabis testing market size, cannabis testing market trends and drivers, opportunities, strategies, and cannabis testing market competitor analysis. The countries covered in the cannabis testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Cannabis refers to the analysis of an individual sample of cannabis that is examined to determine tetrahydrocannabinol, cannabidiol, and terpene levels, as well as impurities such as residual solvents, mold, pests, disease, or pesticide residue. The cannabis test is used to relieve stress, muscle pain, nausea, and vomiting.

View More Reports Related To The Cannabis Testing Market –
Cannabis Products Global Market Report 2023
Farm Machinery And Equipment Global Market Report 2023
Biostimulants Global Market Report 2023

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