Cannabis Testing Market Size to Reach US$1,806 Million by 2025 Global – Exclusive Report by MarketsandMarkets™

Chicago, Nov. 17, 2022 (GLOBE NEWSWIRE) — According to new market research report “Cannabis testing market by Products & Software (Instruments, Consumables, LIMS), Services (Heavy Metal Testing, Microbial Analysis, Potency, Residual Screening), End User (Growers, Labs, Research Institutes) – Global Forecast to 2025″ The global cannabis testing market is expected to reach USD 1,806 million by 2025, from USD 962 million in 2020, at a CAGR of 13.4% during the forecast period.

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Report Scope:

The growth of this market is mainly due to factors such as the legalization of medical cannabis and the increasing number of cannabis testing laboratories (especially in the United States), the increasing adoption of LIMS in testing laboratories of cannabis and growing awareness. A lack of uniformity in rules and regulations, high costs, and inadequate staff are the major factors that may hamper the growth of the market.

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In this report, the cannabis testing market is further segmented on the basis of type (product and software and service), end-user, and region. Based on type, the cannabis testing market is categorized into products, services, and software. The services segment dominated the market in 2019, owing to the increased legalization of cannabis and the subsequent rise in demand for cannabis testing.

Service-based, The cannabis testing market is categorized into potency testing, terpene profiling, pesticide testing, residual solvent analysis, heavy metal testing, microbial analysis, and other services. The potency testing segment dominated the market in 2019, owing to the increased use of CBD for the treatment of diseases.

The end users of cannabis testing products (testing instruments and consumables) and software are cannabis testing laboratories and research institutes. The end users of the services market are cannabis manufacturers and dispensaries and cannabis growers. The growing use of cannabis in the healthcare sector for the treatment of diseases is expected to propel the demand for products and software used for cannabis testing in research institutes, subsequently driving the growth of the market.

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Geographic growth scenario:

In 2019, North America accounted for the largest share of the cannabis testing market, followed by Europe. The large share of the North America regional segment can be attributed to the established biopharmaceutical industry and the presence of major players operating in the cannabis testing market in North America. The APAC market is expected to register the second highest CAGR during the forecast period. Factors such as the growth of the biopharmaceutical industry, the increase in research in life sciences, the increase in investments by pharmaceutical and biotechnology companies and the growing number of cannabis testing laboratories in the region, associated to the legalization of cannabis for medical use, are expected to drive the growth of the market in this region.

Key players:

Major market players operating in the cannabis testing market are Agilent Technologies, Inc. (US), Shimadzu Corporation (Japan), MERCK KGAA (Germany), Thermo Fisher Scientific (US), DigiPath, Inc. (USA), Steep Hill Inc. (USA), SC Laboratories, Inc. (USA) and PharmLabs LLC (USA).

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