US Cannabis market is highly influenced by rigorous legalization efforts, which are aiming for approval of cannabis for medicinal or recreational purposes. Various governments and regulatory authorities are taking efforts to legalize cannabis, owing to its medicinal benefits. Moreover, commercialization of cannabis-based products under the legalized standards require successful cannabis testing, which further results in lucrative growth opportunities for market players.
Market Dynamics
Increasing legalization of marijuana in the U.S. by the federal law is expected to drive growth of the U.S. cannabis testing services market. For instance, according to drug policy 2018 report, on November 6, 2012, Colorado and Washington became the first two jurisdictions in the world to legalize marijuana for adult use. Moreover, in January 2018, Vermont became the first state to legalize marijuana through a state legislature, and furthermore, according to Governing 2019 report, 11 states have legalized marijuana for recreational use and 22 states have legalized it for medical use in the U.S.
However, lack of standard testing processes is expected to hinder growth of the market. Moreover, there are challenges associated with certification for manufacturers of infused products, as there are no guidelines that standardize the equipment or methods of testing labs use. As a result, one sample can produce different results based on the laboratory where it’s tested.
Key features of the study:
- This report provides in-depth analysis of the US Cannabis Testing Services Market, market size (US$ Mn), and compound annual growth rate (CAGR (%) for the forecast period, 2019-2027, considering 2018 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by leading players
- It profiles key players in the US Cannabis Testing Services Market based on the following parameters: company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies
- Key players covered as a part of this study include SC Laboratories Inc., Eurofins Scientific, Praxis Laboratory, Agricore Laboratories, Digipath Inc., Fairbanks Analytical Testing LLC, Aurum Laboratories, LLC, Pure Analytics LLC, Gobi Labs, Cascadia Labs, Encore labs, PharmLabs LLC.
- Insights from this report would allow marketers and management authorities of companies to make informed decisions with respect to future product launches, governmental initiatives, technological up-gradation, market expansion, and marketing tactics
- The US Cannabis Testing Services Market report caters to various stakeholders in this industry, which include investors, product manufacturers, distributors, and suppliers for US Cannabis Testing Services Market, research and consulting firms, new entrants, and financial analysts
Detailed Segmentation:
- US Cannabis Testing Services Market, by Test Type:
- CBD Testing
- THC Testing
- Potency Testing
- Terpene Profiling
- Cannabinoid Profiling
- Pesticide Screening
- Residual Solvent Testing
- Microbiological Screening
- Other Tests
- US Cannabis Testing Services Market, by End User:
- Cannabis Firms
- Homecare Settings
- Research Institutes
- US Cannabis Testing Services Market, by States:
- By Test Type:
- Potency Testing
- Terpene Profiling
- Cannabinoid Profiling
- Pesticide Screening
- Residual Solvent Testing
- Microbiological Screening
- Other Tests
- By Test Type:
- Potency Testing
- Terpene Profiling
- Cannabinoid Profiling
- Pesticide Screening
- Residual Solvent Testing
- Microbiological Screening
- Other Tests
- By Test Type:
- Potency Testing
- Terpene Profiling
- Cannabinoid Profiling
- Pesticide Screening
- Residual Solvent Testing
- Microbiological Screening
- Other Tests
- By Test Type:
- Potency Testing
- Terpene Profiling
- Cannabinoid Profiling
- Pesticide Screening
- Residual Solvent Testing
- Microbiological Screening
- Other Tests
- By Test Type:
- Potency Testing
- Terpene Profiling
- Cannabinoid Profiling
- Pesticide Screening
- Residual Solvent Testing
- Microbiological Screening
- Other Tests
- By Drug Type:
- CBD Testing
- THC Testing
- Potency Testing
- Terpene Profiling
- Cannabinoid Profiling
- Pesticide Screening
- Residual Solvent Testing
- Microbiological Screening
- Other Tests
- Florida
- Michigan
- Pennsylvania
- New Jersey
- New York
- Other States
- Company Profiles
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Highlights
- Strategies
- SC Laboratories Inc.*
- Eurofins Scientific
- Praxis Laboratory
- Agricore Laboratories
- Digipath, Inc.
- Fairbanks Analytical Testing LLC
- Aurum Laboratories, LLC
- Pure Analytics LLC
- Gobi Labs
- Cascadia Labs
- Encore labs
- PharmLabs LLC
“*” marked represents similar segmentation in other categories in the respective section.