Global Cannabis Testing Market was valued at US$ 1,028.2 Mn
in 2017 and is estimated to reach US$ 2,486.7 Mn by 2025
with a CAGR of 11.9% from 2017-2025
Legalization of medical cannabis is anticipated to drive the market for cannabis testing over the forecast
period.
According to a new market research study titled 'Cannabis Testing Market to 2025 - Global Analysis and
Forecasts by Type, Services and End User, the global cannabis testing market was valued at US$ 1,028.2
Mn in 2017 and is estimated to reach US$ 2,486.7 Mn by 2025. The market is estimated to grow with a
CAGR of 11.9% from 2017-2025.The report highlights the trends prevalent in the global cannabis testing
market and the factors driving the market along with those that act as deterrents to its growth.
Global cannabis testing market, based on the type is segmented into product and services. The product
segment is further bifurcated into analytical instruments and consumables segments. In 2017, the
product segment witnesses the fastest and largest share. Additionally, the software segment is
anticipated to grow at a significant rate during the forecast period.
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Global cannabis testing market is expected to grow in the coming years, owing to the factors such as,
legalization of medical cannabis, increasing awareness through conferences, symposia, and workshops
and growing adoption of LIMS in cannabis testing laboratories. However, the stringent regulatory
framework for cannabis and dearth of trained laboratory professionals act as a restraint for this market.
On the other hand, advances in cannabis testing equipments likely to add novel opportunities for
cannabis testing market, in the coming years.
The major players operating in the cannabis testing market include, Agilent Technologies, PerkinElmer,
Inc., Shimadzu Corporation, SCIEX, Merck KGaA, Restek Corporation, Waters, CannaSafe Analytics,
Accelerated Technology Laboratories, Inc., Digipath Labs and among others. The market players are
focused towards bringing new and innovative product launches to sustain their position in the market.
For instance, in January 2018, SCIEX Diagnostics, a division of SCIEX launched Citrine Triple Quad MS/MS
and Citrine QTRAP MS/MS Systems for clinical diagnostics.
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The report segments the global cannabis testing market as follows:
Global Cannabis Testing Market - By Type
-Products
-Software