Press release
Cannabis Testing Market is expected to Increase from $1084.57 Million in 2018 to $1937.12 Million in 2023
Cannabis Testing Market
Cannabis Testing can be defined as the various methods of drug testing for detecting the use of cannabis in an individual in the fields of sport, medicine, and law. There are many ways in which cannabis use can be detected, some of them are urine testing, hair testing, blood testing, and saliva testing among others. Unlike the detection of alcohol by using Breathalyzer, detecting cannabis use by any test takes a considerable amount of time. A few tests like Duquenois-Levine test can be used for quick detection but it’s not reliable since it gives false positive results for many other substances than cannabinoids.
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The Global Cannabis Testing Market is driven by factors like the rising number of accidents under the influence of cannabis, legalization of cannabis for medical and recreational purposes in various parts of the world, increasing number of seminars, conferences in order to increase awareness about the tests, expanding number of cannabis testing laboratories and growing usage of LIMS among others. The restraints that this market is facing are the high price of instruments for testing cannabis usage, less number of skilled professionals and the presence of alternative technologies.
Global Cannabis Testing Market Forecast Report (2018-2023)
Global Cannabis Testing Market was worth USD 1084.57 million in 2018 and estimated to be growing at a CAGR of 12.3%, to reach USD 1937.12 million by 2023.
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Cannabis Testing Market Segmentation
The Global Cannabis Testing Market is segmented on the basis of product & software into analytical instruments, consumables, and software. Based on testing procedures, the market is divided into terpene profiling, potency testing, residual solvent screening, pesticide screening, genetic testing, heavy metal testing, and microbial analysis. Potency testing has the highest market share in this segment. On the basis of end-users, the market is divided into cannabis cultivators, laboratories, drug manufacturers & dispensaries, and research institutes. Laboratories accounted for the largest market share in this segment owing to rising demand for cannabis testing software in labs.
The Global market for Cannabis Testing is geographically segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. North America has the leading market share in the world, accounting to around 34% and is also the fastest growing market. North America is followed by Europe in share. Developing countries in Asia-Pacific region are expected to witness the highest growth rate going on the basis of the country. Growing awareness about drug testing and reduction in prices are the major driving factors in these countries.
Major Players:
The major companies dominating this market for its products and services are
Agilent Technologies, Inc.,
Shimadzu Corporation,
Waters Corporation,
PerkinElmer, Inc.,
AB SCIEX LLC,
Millipore Sigma,
Restek Corporation,
LabLynx, Inc. (U.S.),
Steep Hill Labs, Inc.,
PharmLabs, LLC,
SC Laboratories, Inc.,
Digipath Labs, Inc.,
CannaSafe Analytics,
Accelerated Technology Laboratories, Inc.
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Abhishek Shukla
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