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’s new report, Global Cannabis Testing Market 2024-2030, is useful for understanding the market’s competitors. The research provides a broad and basic examination of the market, including an examination of subjective factors that might provide readers with vital business insights. The research provides a market overview that explains the value chain structure, geographical analysis, applications, market size, and forecast (2024-2030). The research will serve as a vehicle for a more accurate assessment of the current and future conditions of the worldwide Cannabis Testing market.
Market Scope:
The research provides an analytical view of the business by studying several elements such as worldwide Cannabis Testing market growth, consumption volume, market trends, and company pricing structures throughout the projected period. The analysis includes extensive research to explore the market’s complexities. The research provides an overview of the worldwide Cannabis Testing market, including market characteristics, market segmentation analysis, market size, customer landscape, and geographical landscape. The study considers growth drivers, current trends, advancements, prospects, and the competitive environment in its research. This market has been examined in several areas based on productivity and manufacturing base.
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Drivers:
Driving Factors: The rapid adoption of 5G technology is driving demand for base station antennas, as 5G infrastructure requires advanced antenna solutions to support high-speed data transmission and network capacity.
Restraints: Concerns regarding the potential health effects of radio frequency (RF) radiation from antennas may pose challenges to market growth. However, advancements in antenna technology, such as smart antennas with beamforming capabilities, are addressing these concerns by improving network efficiency and reducing interference.
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 analyze 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 organizations. 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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Key Players:
It then discusses the top competitors in the worldwide Cannabis Testing market, as well as emerging players, in detail, including market share based on revenue, demand, high-quality product makers, sales, and service providers. In addition, the research assesses capacity utilization, raw material sources, import-export, the value chain, price structure, and the industrial supply chain. The following players are featured in this report:
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
12. PerkinElmer Inc.,
13. Danaher Corporation
14. Accelerated Technology Laboratories Inc.
15. Steep Hill Halent Laboratories Inc.
16. Digipath Inc.
17. Pharmlabs LLC.
Regional Analysis:
The report has analyzed the global Cannabis Testing market in the following regions:
- America, North (the United States, Canada, and Mexico)
- European Union (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
- Asia-Pacific region (China, Japan, Korea, India, Southeast Asia, and Australia)
- Latin America (Brazil, Argentina, Colombia, and Rest of South America)
- Africa and the Middle East (Saudi Arabia, UAE, Egypt, South Africa, and Rest of the Middle East & Africa)
The research provides comprehensive insights into numerous development opportunities and challenges in the regions mentioned above based on various types of goods, applications, end-users, and countries, among others. The research also includes key features of the worldwide Cannabis Testing market, such as sales growth, product price and analysis, growth potential, and suggestions for tackling market issues in the given regions.
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COVID-19 Impact Analysis on Cannabis Testing Market:
COVID-19 is an unprecedented worldwide public health emergency that has impacted practically every business, and the long-term impacts are expected to have an influence on industry growth throughout the projection period. Our continuing study expands our research methodology to include fundamental COVID-19 concerns and potential next steps. The research provides insights on COVID-19 by taking into account changes in consumer behavior and demand, purchasing patterns, supply chain re-routing, the dynamics of contemporary market forces, and substantial government initiatives. The revised report contains insights, analysis, projections, and predictions based on the influence of COVID-19 on the market.
Key Questions Answered in the Cannabis Testing Market Report are:
Which are the major companies in the Cannabis Testing market?
Which is the potential market for Cannabis Testing in terms of the region?
Which application area of Cannabis Testing is expected to grow at a significant rate in the market in the next 5 years?
What are the opportunities for new market entrants?
What will be the Cannabis Testing market size by 2030?
What are the growth prospects for the Cannabis Testing market?
What is the base year considered in the Cannabis Testing market report?
Which region holds the largest market share in the Cannabis Testing market?
What factors are anticipated to drive the Cannabis Testing market?
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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