What is Cannabis Testing Services Market Scope?
Cannabis is a drug that comes from Indian hemp plants including Cannabis sativa and Cannabis indica. Cannabis lab testing is an integral part of the legal landscape surrounding cannabis. These drugs are required to undergo a series of tests by a state-accredited lab. These tests help ensure that products are safe to consume and easy to dose. Cannabis is applied to multiple consumer goods such as carbonated beverages, coffee, alcohol, tobacco, and other packaged goods. The cultivation, production, and manufacturing of Cannabis products for medicinal use in South Africa. South Africa minimizes the risk of diversion of Cannabis and reserves its use for medical and scientific purposes only with the help of the International Narcotics Drug Control Board.
The Cannabis Testing Services market study is being classified by Type (Potency Testing, Terpene Profiling, Heavy Metal Testing, Pesticide Screening and Microscopy Testing/Residual Solvent Screening), by Application (Laboratories, Research Institutes, Drug Manufacturers & Dispensaries and Cultivators) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that Players from United States will contribute to the maximum growth of Global Cannabis Testing Services market throughout the predicted period.
Agilent Technologies, Inc. (United States), Shimadzu Corporation (Japan),, PerkinElmer, Inc. (United States), Millipore Sigma (United States), AB SCIEX LLC (United States), Waters Corporation (United States), Restek Corporation (United States), Accelerated Technology Laboratories, Inc.(United States), LabLynx, Inc.(United States) and While, Steep Hill Labs, Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are SC Laboratories Inc. (United States), CannaSafe Analytics (United States), PharmLabs, LLC (United States) and Digipath Labs, Inc. (United States).
Analyst at AMA have segmented the market study of Global Cannabis Testing Services market by Type, Application and Region.
On the basis of geography, the market of Cannabis Testing Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
In August 2016, Agilent Technologies, Inc. acquired iLab Solution LLC, (U.S.), a prominent player in providing cloud-based laboratory management software. This acquisition helped Agilent to strengthen its software and informatics product portfolio.
Influencing Market Trend
- Growing adoption of LIMS in cannabis testing laboratories
- Legalization of medical cannabis coupled with the growing number of cannabis testing laboratories
- Increasing awareness through conferences, symposia, and workshops
- Emerging markets in LATAM and MEA
- Growing merger & acquisitions activities
- High cost of analytical instruments
- Dearth of trained laboratory professionals
- High start-up cost for cannabis testing laboratories
- Lack of industry standards for cannabis testing
Key Target AudienceCannabis associations, Cannabis testing laboratories, Analytical instrument manufacturers, Cannabis software/LIMS vendors, Academic institutes and universities, Venture capitalists and Research and consulting firms
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