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The global cannabis testing market size is estimated to grow by USD 1,502.13 million at a CAGR of 13.06% between 2022 and 2027.
Cannabis used for medical purposes is called medical cannabis or medicinal marijuana. Medical cannabis contains a variety of compounds collectively known as cannabinoids. The two key compounds are tetrahydrocannabinol (THC) and cannabidiol (CBD). Several other types of cannabinoids are found in cannabis strains, but the most commonly found compounds are THC and CBD. These compounds primarily combat the pain symptoms of several diseases. Furthermore, a variety of cannabis testing products that test potency and check for contamination in finished cannabis products are widely used by pharmaceutical companies around the world to ensure regulatory compliance and product safety. Hence, increasing the use of cannabis for medical purposes will boost the growth of the global cannabis testing market throughout the forecast period.
Technavio has segmented the market into Product, End-user, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
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The market share growth by the consumables segment will be significant during the forecast period. This market includes reusable glassware, laboratory equipment, and solvents for the extraction step of chromatography, and reagents for sample preparation. The sample preparation step is very important because samples containing impurities can lead to erroneous results when separated by chromatography or mass spectrometers.
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The consumables segment was valued at USD 661.99 million in 2017. Sigma-Aldrich, a subsidiary of Merck, is the largest supplier of consumables to the global cannabis testing market. The supplier offers a wide range of consumables for testing chromatography systems and mass spectrometers. In addition, consumables are made of materials compatible with high-performance liquid chromatography (HPLC) and liquid chromatography-mass spectrometry (LC-MS) instruments. Hence, increasing the use of consumables and market players' innovation allowing for higher detection resolution are some of the key reasons that will drive market growth during the forecast period.
Cannabis cultivators/growers continue to play a key role as end users in the global cannabis testing market by ensuring the quality, compliance, and safety of the final product. Accurate cannabis profiling, residual solvent analysis, pesticide screening, and microbiological testing all rely on grower testing services. Leading cannabis testing companies such as SC Labs and Steep Hill provide customized solutions to help growers improve their production processes and comply with regulatory standards. Alongside test facilities, cannabis cultivators/growers will continue to play a key role in determining the integrity and future development of the cannabis market during the forecast period.
Cannabis drug manufacturers are the major end-users in the global cannabis testing market. These manufacturers are investing in advanced test solutions in response to increasing regulatory and quality assurance requirements. As legalization advances, cannabis drug manufacturers continue to depend on advanced testing technology to maintain product integrity, improve consumer safety, and meet changing industry needs. Hence, these factors are expected to grow the demand for cannabis testing by cannabis pharmaceutical manufacturers, which is expected to boost the growth of the market during the forecast period.
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North America is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. A key factor driving the growth of the North American cannabis testing market is the increasing use of cannabis-based products. The availability of better laws and regulations governing the use of cannabis in medical applications is expected to further fuel the growth of the market.
Moreover, the US and Canada are the largest contributors in North America in terms of revenue. In the US, cannabis is legal in 29 states for medical or recreational use. States such as California and Colorado have seen significant increases in sales through retail channels. Cannabis retailers are accredited and their products are tested for safety and efficacy by licensed laboratories. Additionally, these retailers are licensed by their respective state governments, providing customers with product reliability. Hence, such factors are expected to drive market growth in this region during the forecast period.
Due to the COVID-19 outbreak, the cannabis testing market in North America witnessed slightly slow growth in 2020. However, in 2021, the initiation of large-scale vaccination drives?has lifted the lockdown restrictions. Moreover, rising consumer awareness, increasing legalization of cannabis products, and evolution of regulatory frameworks are expected to lead to growth of the regional market during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Waters Corp.: The company offers cannabis testing solutions that cover a broad range of applications, from accurate potency testing and terpene profiling to contaminate testing for pesticides, residual solvents, heavy metals, and mycotoxins.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
Increasing global awareness about the benefits of cannabis is the key factor driving the growth of the market. There are several initiatives around the world to raise awareness of the benefits of cannabis. Countries such as the US, UK, and New Zealand are key countries where cannabis awareness campaigns are carried out to reach large audiences.
Therefore, as awareness campaigns about the benefits of cannabis increase around the world, it is likely that many players will enter the market, especially those from related industries such as pharmaceuticals and food and beverages, the result is demand for test products and solutions. Such factors are expected to drive the growth of the market during the forecast period.
Growing promotional activities regarding cannabis testing is the primary trend in the market. Vendors should fully communicate the features and benefits of their products to their audience. Unlike other analyzers, brand and product awareness play a limited role in selling cannabis testing devices. Advertising and marketing of cannabis testing products are restricted, and awareness of such products is severely lacking.
However, market leaders have dedicated product pages with interactive videos to enhance knowledge for pharmaceutical companies and cannabis product makers. Twitter and YouTube are also popular digital media platforms for major market players to promote their key products and increase their product visibility online. Hence, such factors will drive the market growth during the forecast period.
Long-term side effects due to excessive use are challenges that affect the growth of the market. Controlled and supervised use of cannabis is beneficial to the body, but overuse can cause long-term side effects. People smoke marijuana in hand-rolled cigarettes, pipes and hookahs. Repeated smoking of cannabis/marijuana causes respiratory problems leading to chronic cough, phlegm and acute bronchitis. Additionally, simultaneous use of cannabis and alcohol aggravates the damage to the body.
Long-term cannabis use can also have psychological effects. Marijuana usually takes 10 minutes to take effect after being smoked. Cannabis triggers chemical reactions in the brain that cause brain dysfunction, causing memory impairment and short-term memory loss. Therefore, the consumption of cheap illegal cannabis without medical supervision is likely to impede the growth of the market during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Cannabis Testing Market Customer Landscape
The cannabis testing market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Cannabis Testing Market Scope |
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Report Coverage |
Details |
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Page number |
169 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 13.06% |
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Market growth 2023-2027 |
USD 1,502.13 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
12.02 |
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Regional analysis |
North America, Europe, APAC, and Rest of World (ROW) |
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Performing market contribution |
North America at 50% |
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Key countries |
US, Canada, China, UK, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Agilent Technologies Inc., Analytical Center Biopharm GmbH, Bio Rad Laboratories Inc., Danaher Corp., Digipath Inc., Eurofins Scientific SE, KNAUER Wissenschaftliche Gerate GmbH, LabWare Inc., Merck KGaA, Mettler Toledo International Inc., PerkinElmer Inc., Sartorius AG, SGS SA, Shimadzu Corp., Thermo Fisher Scientific Inc., Waters Corp., AmSpec Services LLC, and Medicinal Genomics Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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