Global Cannabis Testing Market - 2019-2026
Global Cannabis Testing Market Overview
Cannabis testing includes measurement of active ingredients and major chemical compounds in the given sample of cannabis. This testing also involves the detection of fungi and bacteria, which could lead to infections if unnoticed. The major active ingredients that have medicinal potency in cannabis are cannabinoids and terpene. Based on the concentration of active ingredient, the sample has. Cannabis testing is conducted with the help of analytical equipment such as liquid chromatography, gas chromatography, and mass spectrometry, etc., commercial labs offers cannabis testing services in the region. Determining the pesticide residue content in the sample defines purity and efficacy. This cannabis are used in medicinal purposes but government authorities’ demands quality testing of cannabis before using them in recreational or therapeutic purposes.
Cannabis testing process involves sample and column preparation, identification of the analyte, identifying concentration and separating analyte.
The global cannabis testing market was worth $XX billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of XX% during the forecast period.
Increase in applications of cannabis in development of medicines such as pain management, increase in regulatory approval of medical cannabis products and ongoing research and development activities are driving the global cannabis testing market during the forecast period. The stringent government norms in quality testing that need to be followed by pharmaceutical companies prior to its usage in drugs and an increase in awareness regarding cannabis through campaigns, conferences, and workshops. Increase in research and development of a new therapeutic drug for chronic disease by key pharmaceutical players and increase in the usage of cannabis in recreational and personal use are additionally contributing the growth of global cannabis testing market.
According to the National Conference of State Legislature in January 2019, 33 states in the united states where 60% of the population resides are approved for usage of cannabis for medical purpose. Thus growing approval for medical cannabis will create demand for analytical equipment for safety testing for human consumption.
In June 2018, U.S approved a first cannabis-based drug for the treatment of epilepsy by GW Pharmaceuticals PLC.
Major factors hindering the global cannabis testing market are a high cost associated with cannabis testing equipment and stringent government regulations in some parts of the world for cannabis.
Global cannabis testing market is segmented by product type, testing type, and end users. Product type includes gas chromatography, liquid chromatography, mass spectrometry, atomic spectrometry, consumables, and testing software, and consumables include columns, sample preparation devices, accessories, and others. Testing type includes pesticide testing, potency and moisture qualification, mycotoxin contamination, terpene analysis, heavy metals, and toxic element testing, and others, and end users include research laboratories, drug manufacturers, testing laboratories, and others.
Testing laboratories segment is expected to dominate global cannabis testing market during the forecast period due to rise in establishments of cannabis testing labs in the cannabis approved regions, availability of technologically advanced products in laboratories, and a rapid surge in huge investments by key players in establishing laboratories.
Global Cannabis Testing Market – Geographical Analysis
The global cannabis testing market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
North America dominates the global cannabis testing market due to increase in legalization of cannabis for medical purpose, increase in pharmaceutical establishment across the region and government approvals, increase in number of marijuana licenses in California in recent years and presence of key players in the region are contributing to the growth of cannabis testing market during the forecast period.
In December 2018, Gola Pharmaceutical California Inc., a subsidiary of Gala pharmaceutical Inc. received the temporary license from the State of California for its flagship cannabis testing facility in Long Beach, California.
According to the Cannabis Media Licenses Database, from the end of January 2018 and beginning of April 2018 the marijuana licenses rose from 2000 to 5369 licenses.
Global Cannabis Testing Market – Competitive Analysis
New product launches by key players in mass spectrometers segment and global expansion by regional players are driving the global cannabis testing market during the forecast period.
In November 2017, Perkin Elmer launched a new mass spectrometry system QSight 400 Series quad mass spectrometer for food and cannabis testing.
In October 2018, PathogenDx launched the world’s first quantitative Microarray test PDx-QuantTM for cannabis which is a one-stop microbial testing solution.
In January 2019, Digipath Nevada cannabis market leader announced the expansion of its cannabis testing products globally.
Major market players in the cannabis testing market are Agilent Technologies, Inc., Shimadzu Corporation, Perkinelmer, Inc, AB Sciex LLC, Waters Corporation, Restek Corporation, Accelerated Technology Laboratories, Inc, Phenomenex, While, Steep Hill Labs, Inc, SC Laboratories, Cannasafe Analytics, Pharmlabs, LLC, and others.
• Equipment Suppliers/ Buyers
• Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
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