Cannabis Testing Market Dynamics:
Cannabis has been studied in various medical disorders including neurological disorders and it is used for medicinal purposes for more than 4 millennia. The World Health Organization estimates that 450 million people worldwide suffer from mental illnesses and it is one of the main causes of sickness and disability worldwide. The most prevalent mental condition is depression, affecting more than 264 million individuals of all ages all over the world. Cannabis and cannabinoids have been shown to have a positive impact on a variety of neurological disorders in humans, including neuropathic pain, migraine, multiple sclerosis, Parkinson’s disease, Huntington’s disease, and motor neuron disease. Thus the demand for Cannabis is increasing because of rising awareness of using cannabis and increased use of software services.
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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.
Cannabis Testing Market Overview:
Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the “ Cannabis Testing Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The report provides the current state of the Cannabis Testing market by thorough analysis, and projections are made up to 2030.
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Cannabis Testing Market Segmentation:
by Service Type
Potency Testing
Terpene Profiling
Heavy Metal Testing
Pesticide Screening
Microscopy Testing
Residual Solvent Screening
By Type, the Potency testing services led the market in terms of service type in 2023 with a revenue share of 23.7 %. The market is primarily being driven by an increase in the demand for analyzing the potency of various cannabinoids, particularly CBD (Cannabidiol) and Tetra hydro cannabinol (THC) in grown cannabis, as well as an increase in the use of efficient potency testing techniques like Gas Chromatography (GC) and High-Performance Liquid Chromatography (HPLC) for testing samples.
by End-user
Cannabis Drug Manufacturers
Cannabis Cultivators/Growers
Others (Research Institutes & Labs)
By End-user, the Cannabis farmers and cultivators held the majority of the market's revenue in 2023, accounting for 64.2% of all sales. Because of official regulations on the amount of THC that can be found in cannabis products in many nations, growers are establishing contracts with testing labs and research institutions. Additionally, these producers must offer several plant varieties at various costs to manufacturers and wholesalers according to their CBD and THC concentrations. These are the main elements promoting the segment's growth.
by Technology
Chromatography
Liquid Chromatography
Gas Chromatography
Other
Spectroscopy
Mass Spectrometry
Atomic Spectrometry
Others
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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
Key questions answered in the Cannabis Testing Market are:
- What is Cannabis Testing ?
- What was the Cannabis Testing market size in 2023?
- Who are the leading companies and what are their portfolios in Cannabis Testing Market?
- What growth strategies are the players considering to increase their presence in Cannabis Testing ?
- What are the upcoming industry applications and trends for the Cannabis Testing Market?
- Which are the factors expected to drive the Cannabis Testing market growth?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Cannabis Testing Market?
- What are the different segments of the Cannabis Testing Market?
- What will be the CAGR at which the Cannabis Testing market will grow?
- What is the growth rate of the Cannabis Testing Market?
- What segments are covered in the Cannabis Testing Market?
- What are the key challenges and opportunities in the Cannabis Testing market?
- Which application holds the highest potential in the Cannabis Testing market?
- Who are the key players in the Cannabis Testing market?
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Key Offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market 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
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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