Cannabis, often known as marijuana, is a psychoactive substance derived from the cannabis plant. The major psychoactive component of cannabis is tetrahydrocannabinol (THC). Cannabis can be consumed via smoking, vaporizing, ingesting, or consuming it as an extract. Over the past decade, development of therapies derived from cannabis and its components is increasing. Medical marijuana has been studied to treat various medical conditions including cancer, multiple sclerosis, post-traumatic stress disorder, anxiety, among others. Furthermore, the U.S. FDA offers an active program assisting drug developers to investigate marijuana or its components through properly controlled clinical trials, and to demonstrate the potential for safe and effective uses. Cannabis has been beneficial in a variety of medicinal uses, including decreasing chemotherapy-induced nausea, increasing hunger in Acquired Immunodeficiency Syndrome (AIDS) patients, regulating muscle spasms in multiple sclerosis patients, and so forth. Cannabis testing is the analytical study of cannabis to determine its safety before it is consumed by humans. Cannabinoids have a variety of impacts on the body and is used for medicinal purposes. Marijuana testing is usually done on a urine sample, although it can also be done on blood, saliva, or hair.
Market Dynamics
Increasing adoption of inorganic growth strategies such as acquisition by key players is expected to drive the market growth over the forecast period. For instance, in December 2021, Pfizer Inc., multinational pharmaceutical and Biotechnology Corporation had acquired with the clinical-stage company Arena Pharmaceuticals, a Biotech Company. The fundamental of its cannabis operation consists of Olorinab (APD371), an investigational, oral, full agonist of the cannabinoid type 2 receptor (CB2), which aims to treat patients with diseases affecting the stomach and intestine. Furthermore, Pfizer Inc., an American multinational pharmaceutical and biotechnology corporation had signed agreement for testing analysis with the clinical-stage company Arena Pharmaceuticals for a total equity value of around $6.7 billion.
Key features of the study:
- This report provides an in-depth analysis of the global cannabis testing services market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global cannabis testing services market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Thermo Fisher Scientific Inc., Merck KGaA, Shimadzu Corporation, PerkinElmer, Inc., Steep Hill Labs, Inc., CB Scientific Inc., Alpha-CAT, Orange Photonics, Inc., Gobi Labs, MyDx, Inc., SC Laboratories Inc., Restek Corporation, Waters Corporation, PharmLabs LLC, Eurofins Scientific, EVIO Labs, ProVerde Laboratories, Inc., Praxis Laboratory, Atlantic Test Labs, Inc., American Clinical Solutions, LLC., MCR Labs, Cannalysis, Aurum Laboratory, LLC, The Niva Labs, Encore Labs, SGS Canada Inc., Agricore Laboratories, and California Cannabis Testing Labs.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global cannabis testing services market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts1
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global cannabis testing services market
Detailed Segmentation:
- Global Cannabis Testing Services Market, By Test Type :
- Potency Testing
- Terpene Profiling
- Cannabinoid Profiling
- Pesticide Screening
- Residual Solvent Testing
- Microbiological Screening
- Other Tests
- Global Cannabis Testing Services Market, By Product Type :
- Instruments
- Chromatography Instruments
- Liquid Chromatography
- Gas Chromatography
- Others
- Spectroscopy Instruments
- Mass Spectroscopy
- Atomic Spectroscopy
- Other Instruments
- Consumables & Test Kit
- Global Cannabis Testing Services Market , By End Users:
- Testing Laboratories
- Research Institutes
- Others
- Global Cannabis Testing Services Market , By Region:
- North America
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- Company Profiles
- Thermo Fisher Scientific Inc.*
- Company Highlights
- Products Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Merck KGaA
- Shimadzu Corporation
- PerkinElmer, Inc.
- Steep Hill Labs, Inc.
- CB Scientific Inc.
- Alpha-CAT
- Orange Photonics, Inc.
- Gobi Labs
- MyDx, Inc.
- SC Laboratories Inc.
- Restek Corporation
- Waters Corporation
- PharmLabs LLC
- Eurofins Scientific
- EVIO Labs
- ProVerde Laboratories, Inc.
- Praxis Laboratory
- Atlantic Test Labs, Inc.
- American Clinical Solutions, LLC
- MCR Labs
- Cannalysis
- Aurum Laboratory, LLC
- The Niva Labs
- Encore Labs
- SGS Canada Inc.
- Agricore Laboratories
- California Cannabis Testing Lab
“*” marked represents similar segmentation in other categories in the respective section.
