Cannabis Testing Market Growth or Demand Increase or Decrease for what contains ?
Cannabis Testing Market CAGR Estimation:
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.
Oil Market Segmentation:
by Service Type
Potency Testing
Terpene Profiling
Heavy Metal Testing
Pesticide Screening
Microscopy Testing
Residual Solvent Screening
With a revenue share of 23.7% in 2023, potency testing services topped the market in terms of service type. The primary drivers of the market are the growing need to analyse the potency of different cannabinoids, specifically Tetra hydro cannabinol (THC) and CBD (cannabidiol) in cannabis grown, and the growing use of potency testing techniques such as High-Performance Liquid Chromatography (HPLC) and Gas Chromatography (GC) for testing samples.
by End-user
Cannabis Drug Manufacturers
Cannabis Cultivators/Growers
Others (Research Institutes & Labs)
With 64.2% of all sales coming from end users, cannabis producers and cultivators controlled the lion's share of market revenue in 2023. Due of government rules in many countries governing the maximum THC content of cannabis products, growers are entering into agreements with testing labs and research organisations. Furthermore, based on the CBD and THC concentrations of their plants, these growers must provide manufacturers and distributors with a range of plant kinds at different prices. These are the primary factors driving the growth of the segment.
by Technology
Chromatography
Liquid Chromatography
Gas Chromatography
Other
Spectroscopy
Mass Spectrometry
Atomic Spectrometry
Others
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Cannabis Testing Market Growth or Demand in which regions?
The competitive landscape of the Cannabis Testing market encompasses aspects like technology adoption, financial strength, portfolio, mergers and acquisitions, joint ventures, and strategic alliances. A comprehensive report delves into the drivers, limitations, opportunities, and challenges inherent in the Cannabis Testing market. The report employed a bottom-up approach to ascertain Cannabis Testing market estimations and growth rates.
To gain insights into Cannabis Testing market penetration, pricing dynamics, demand analysis, and competitive panorama, the report executed regional analysis at local, regional, and global levels. Essential details about the Cannabis Testing market, including stakeholders, investors, and new entrants, are presented to facilitate the development of marketing strategies and investment plans.
Both primary and secondary data gathering techniques were employed for the Cannabis Testing Market. Primary approaches involved surveys, questionnaires, and interviews with industry leaders and business proprietors, while secondary data encompassed sources like press releases, annual and financial reports, white papers, etc. SWOT analysis was leveraged to pinpoint market vulnerabilities and weaknesses, while the PORTER framework was applied to gauge industry competitiveness within the Cannabis Testing Market.
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Cannabis Testing Market Key Players:
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
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Key questions answered in the Cannabis Testing Market are:
- What is Cannabis Testing Market ?
- What is the growth rate of the Cannabis Testing Market ?
- Which are the factors expected to drive the Cannabis Testing Market market growth?
- What are the different segments of the Cannabis Testing Market ?
- What are the factors restraining the growth of the Cannabis Testing Market ?
- What is the demand pattern of the Cannabis Testing Market ?
- What major challenges could the Cannabis Testing Market face in the future?
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Key Offerings:
- Past Size and Competitive Landscape
- Past Pricing and price curve by region
- Size, Share, Size Forecast by different segment
- Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Segmentation A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape Profiles of selected key players by region from a strategic perspective
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