Cannabis Testing Market to Grow at 11.5% CAGR to 2021

The global cannabis testing market is expected to reach USD 1,416.3 million by 2021 from USD 822.0 million in 2016, at a CAGR of 11.5% during forecast period (2016–2021). The growth in this market is mainly driven by factors such as legalization of medical cannabis, coupled with the growing number of cannabis testing laboratories (specifically in the U.S.); growing adoption of LIMS in cannabis testing laboratories; and increasing awareness through conferences, symposia, and workshops.

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The global cannabis testing market is expected to reach USD 1,416.3 million by 2021 from USD 822.0 million in 2016, at a CAGR of 11.5% during forecast period (2016–2021). The growth in this market is mainly driven by factors such as legalization of medical cannabis, coupled with the growing number of cannabis testing laboratories (specifically in the U.S.); growing adoption of LIMS in cannabis testing laboratories; and increasing awareness through conferences, symposia, and workshops.

Introduction

1 Objectives of the Study

2 Market Definition

4 Market Scope

3 Limitations

4 Currency

5 Stakeholders

Premium Insights

1 Cannabis Testing Market Overview

2 Cannabis Testing Market, By Product

3 Cannabis Testing Products Market, By Type of Analytical Instrument

4 Cannabis Testing Products Market, By Type of Consumable

5 Cannabis Testing Services Market

6 Cannabis Testing Market: Geographic Snapshot

The cannabis testing market is segmented on the basis of product & software, service, end user, and region. The cannabis testing services market (services offered by cannabis testing laboratories) is segmented into potency testing, terpene profiling, pesticide screening, residual solvent screening, heavy metal testing, microbial analysis, and genetic testing.

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North America is expected to register the highest CAGR during the forecast period. This can be attributed to growing legalization of cannabis for medical use; rapid growth in the number of cannabis testing laboratories; the presence of prominent players in this region; growing awareness regarding medical cannabis through various seminars, conferences, and symposia; and rising funding for the cannabis industry in this region.

Competitive Landscape

1 Overview

2 Market Ranking Analysis, By Key Player

3 Competitive Situations and Trends

4 Product Launches & Approvals

5 Expansions & Investments

6 Partnerships, Agreements, & Collaborations

7 Mergers & Acquisitions

This market is categorized on the basis of product & software, service, end user, and region. Apart from the comprehensive regional analysis, product analysis, and market sizing, the report also provides a competitive landscape that covers growth strategies adopted by industry players over the last three years. The company profiles comprise basic views on key players and their product portfolios, developments, and strategies adopted.

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The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms, garner a greater market share. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.

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