HOME Press Releases Cannabis Testing Market worth 1,416.3 Million USD by 2021



Cannabis Testing Market worth 1,416.3 Million USD by 2021


The reportCannabis Testing Market by Product & Software (LC, GC, Spectroscopy (MS, Atomic), Column, Standards, Accessories, LIMS), Service (Potency, Pesticides, Heavy Metal, Genetic Testing), End User (Lab, Pharmaceutical, Research) - Global Forecast to 2021” analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, LATAM & MEA, and Asia-Pacific

     Download PDF Brochure     Speak to Analyst     Inquiry Before Buying

Browse 160 market data tables and 49 figures spread through 170 pages and in-depth TOC on "Cannabis Testing Market by Product & Software (LC, GC, Spectroscopy (MS, Atomic), Column, Standards, Accessories, LIMS), Service (Potency, Pesticides, Heavy Metal, Genetic Testing), End User (Lab, Pharmaceutical, Research) - Global Forecast to 2021"
http://www.marketsandmarkets.com/Market-Reports/cannabis-testing-market-46932450.html
Early buyers will receive 10% customization on reports.

The global cannabis testing market is expected to reach USD 1,416.3 Million by 2021 from USD 822.0 Million in 2016, at a CAGR of 11.5% of during the forecast period (2016-2021).

The growth in this market is mainly driven by factors such as legalization of medical cannabis, coupled with the growing number of cannabis testing laboratories (specifically in the U.S.); growing adoption of LIMS in cannabis testing laboratories; and increasing awareness through conferences, symposia, and workshops. On the other hand, the high cost of analytical instruments, presence of alternative technologies, and dearth of skilled professionals are some of the major factors that are expected to restrain the growth of this market in the coming years.

In this report, the global cannabis testing market is segmented on the basis of product & software, service, end user and region.

On the basis of end user, the cannabis testing products & software market is further segmented into laboratories and research institutes. Laboratories are expected to register the highest CAGR during the forecast period. The high share of this segment is attributed to the increasing demand for cannabis testing products and software among labs. This is particularly evident in the U.S., where the number of cannabis testing laboratories has grown due to the legalization of the use of cannabis in medicine, increasing expansion of leading cannabis testing laboratories, and growing availability of technologically advanced analytical instruments and software (LIMS) for the cannabis industry.

On the basis of end user, the cannabis testing services market is further segmented into cannabis testing drug manufacturers & dispensaries and cannabis cultivators. In 2016, cannabis drug manufacturers & dispensaries accounted for the largest share of the cannabis testing services market. The growth of this market segment is mainly driven by regulatory guidelines mandating cannabis testing.

On the basis of region, the cannabis testing market is segmented into North America, Europe, LATAM & MEA, and Asia-Pacific. In 2016, North America accounted for the largest share of the market. Factors such as the growing legalization of cannabis for medical use, rapid growth in the number of cannabis testing laboratories, the presence of prominent players in this region, growing awareness regarding medical cannabis, and rising funding for the cannabis industry are some key factors driving market growth in this region.

Cannabis testing is a highly competitive and evolving industry with the presence of various well-established as well as emerging players in the market. Shimadzu Corporation (Japan), Agilent Technologies (U.S.), PerkinElmer, Inc. (U.S.), Millipore Sigma (U.S.), AB Sciex LLC (a Danaher Company) (U.S.), Restek Corporation (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Waters Corporation (U.S.), Fritsch Milling (U.S.), Accelerated Technology Laboratories (U.S.), CannaSys, Inc. (U.S.), PharmLabs, LLC (U.S.), Guardian Data Systems, Inc. (U.S.), and Lab Lynx, Inc. (U.S.) are some of the prominent players operating in the cannabis products & software market. On the other hand, Steep Hill Halent Laboratories, (U.S.), DigiPath, Inc. (U.S.), SC Laboratories (U.S.), CannaSafe Analytics (U.S.), and CW Analytical Laboratories (U.S.) are some of leading players operating in the cannabis testing services market

About MarketsandMarkets

MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
Email: sales@marketsandmarkets.com

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support


US : 1-888-600-6441

Search reports