Press release
Cannabis Testing Market : Opportunities, Demand and Forecasts 2020-2027 | Agilent Technologies, PerkinElmer, Inc., Shimadzu Corporation, SCIEX, Merck KGaA, Restek Corporation, Waters, CannaSafe Analytics
Cannabis Testing Market
The study provides details such as the market share, Market Insights, Strategic Insights, Segmentation and key players in the Cannabis Testing Market.
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The global cannabis testing market accounted to US$ 1,028.2 Mn in 2017 and is expected to grow at a CAGR of 11.9% during the forecast period 2018 - 2025, to account to US$ 2,486.7 Mn by 2025.
Some of the Major Market Players Are:
Agilent Technologies
PerkinElmer, Inc.
Shimadzu Corporation
SCIEX
Merck KGaA
Restek Corporation
Waters
CannaSafe Analytics
Accelerated Technology Laboratories, Inc.
Digipath Labs.
Market Insights
Legalization of Medical Cannabis
The market is driven by the legalization of the medical cannabis, for instance, United States is anticipated to be the main driving force of growth of use of medical cannabis. 30 states has legalized cannabis for the medical use. These 30 states comprises of 60% of total population and have approved use of medical marijuana. This has become the driving force for the growth of cannabis testing marked in the entire North America region. Currently more than 8000 active licenses for cannabis businesses in USA. It is the only country with such number of market players. Europe is another region which has shown a decent growth rate for cannabis testing market. There has been an increase in the process of legalization of cannabis in European countries. Thus, considering the facts the market is likely to drive the market.
Mergers and Acquisitions
The cannabis businesses in the US are small independently-held entities. Various companies, such as food, tobacco and pharmaceutical industries were held back by regulatory concerns, but are now expected to enter the market. Cannabis business are small due to stringent regulations for import and export. Companies that want to expand to other regions must establish cultivation, manufacturing and selling infrastructure in new location, or form a partnership with other company in the other state. For instance, in 2018, some of the multi-state operators acquired additional licensed operators in new locations to enhance its presence.
Strategic Insights
Approvals and agreements were observed as the most adopted strategy in global cannabis testing industry. Few of the organic developments, inorganic developments and others are listed below:
2018: In January, 2018, SCIEX Diagnostics, a division of SCIEX launched Citrine Triple Quad MS/MS and Citrine QTRAP MS/MS Systems for clinical diagnostics.
2017: In June, 2017, Waters Corporation received approval for Waters ACQUITY UPLC, ACQUITY UPLC I-Class System by Brazil'sNational Health Surveillance Agency (ANVISA).
2016: In September 2016, SCIEX entered into a collaboration with CW Analytical (CWAL) to develop fully validated standardized methods to measure pesticides and cannabinoids in Cannabis and Cannabis related products.
MARKET SEGMENTATION
By Type
Products
Software
By Services
Potency Testing
Terpene Profiling
Pesticide Screening
Residual Solvent Screening
Heavy Metal Testing
Microbial Analysis
By End User
Testing Laboratories
Drug Manufacturers
Research Institutes
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Cannabis Testing Market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2027 with respect to five major regions. The Cannabis Testing Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
Promising Regions & Countries Mentioned in The Cannabis Testing Market Report:
North America
Europe
Asia-Pacific
Latin America
The Middle East & Africa
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
Major Features of Cannabis Testing Market Report:
• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Cannabis Testing market
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global Cannabis Testing market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.
Purchase a copy of Cannabis Testing Market research report @ https://www.theinsightpartners.com/buy/TIPHE100001394/?openpr-10225
Contact Us:
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Email: sales@theinsightpartners.com
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Life Science, Technology, Healthcare, Manufacturing, Automotive and Defense, Food Beverages, Chemical etc.
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