Cannabis Testing Market - by Technology (Chromatography {Liquid Chromatography, Gas Chromatography}, Spectroscopy), By Test (Potency Testing, Pesticide Screening, Heavy Metal Testing, Terpene Testing, Mycotoxin Testing) & Forecast, 2023-2032
Published on: 2024-08-01 | No of Pages : 240 | Industry : Healthcare
Publisher : MIR | Format : PDF&Excel
Cannabis Testing Market - by Technology (Chromatography {Liquid Chromatography, Gas Chromatography}, Spectroscopy), By Test (Potency Testing, Pesticide Screening, Heavy Metal Testing, Terpene Testing, Mycotoxin Testing) & Forecast, 2023-2032
Cannabis Testing Market Size
Cannabis Testing Market size was valued at more than USD 7 billion in 2022 and is set to record lucrative growth at over 13.5% CAGR through 2032 attributed to the growing legalization of cannabis in several countries for medical purposes.
As marijuana usage becomes more recognized and legal in the United States, the Netherlands, South Africa, and other parts of the world, there is a rising demand for precise and reliable analysis of cannabis products. While several governments have approved the recreational use of cannabis, the number of cannabis testing facilities has increased. Moreover, several government institutions and business players are realizing the commercial and social significance of authorized medicinal cannabis, which is projected to boost market growth.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Cannabis Testing Market Size in 2022 | USD 7.4 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 13.6% |
| 2032 Value Projection | USD 27.6 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 250 |
| Tables, Charts & Figures | 289 |
| Segments covered | Technology, Test, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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Lack of uniform quality standards to slow down cannabis testing market landscape
Administering a precise dosage of cannabis for medical uses necessitates strict regulatory and quality control standards. Moreover, quality requirements in different nations are not consistent. For instance, distinct state laws and variances govern cannabis for both medicinal and adult usage in the United States. Different techniques used by various approved laboratories might result in discrepant findings and incorrect information about the cannabinoid content of cannabis. However, government authorities are taking efforts to increase market integrity and consumer access to correct information, which is likely to positively influence the industry trends.
Cannabis Testing Market Analysis
Cannabis testing market from chromatography segment is expected to generate a valuation of around USD 17.5 billion by 2032. Chromatographic methods are gaining prominence for cannabis testing as they provide quick and accurate results. Furthermore, reputed laboratories are investing in new technologies to enhance their service offering, which is likely to propel segment development. Additionally, its automation and configurability allow Smithers to analyze the most recent advancements in cannabis and terpenes methodologies and provide customers with a route toward strain phenotyping.
Pesticide screening segment held over 18.5% revenue share of the cannabis testing market in 2022 and is projected to dominate the industry through 2032. Due to the substantial health risks that pesticides provide to users, several jurisdictions, allow the use of certain pesticides under strict limits, while some have completely outlawed the use of pesticides on cannabis plants and mandate the testing of all cannabis products to guarantee that they are pesticide-free. Due to its selectivity, sensitivity, and toughness, LC-MS has emerged as a preferred technology for pesticide analysis. With the rapid expansion of the cannabis industry, the need for pesticide screening is expected to drive segment size.
Europe cannabis testing market held a sizable revenue share in 2022 and is estimated to grow at more than 14% CAGR over 2023-2032. The possession of small amounts of cannabis is no longer regarded as illegal in several European nations. Key businesses are developing cutting-edge technologies and cannabinoid products to explore new opportunities, which is expected to boost the regional market progression. U.S. cannabis testing industry is expected to grow at a CAGR of over 10.5% in the coming years owing to rigorous R&D initiatives to utilize cannabis for treating infections and illnesses.
Cannabis Testing Market Share
- Green Scientific Labs
- EVIO
- Anandia Labs
- Eurofins Scientific
- Anresco
- Eirlab
- Digipath
- SC Labs
- Pure Analytics
- PSI Labs LLC
- Steep Hill
- and Phytovista Laboratories
are some of the major companies operating in the market. To strengthen their market share, these firms are often involved in strategic projects including partnerships and service portfolio expansions.
Impact of COVID-19 Pandemic
The demand for cannabis-testing products with therapeutic benefits surged as people became increasingly concerned with their health and well-being after the onset of the COVID-19 pandemic. Given that cannabis extracts have an impact on the production of ACE2 and TMPRSS2 protein in human cells, researchers were looking into a variety of therapeutic possibilities, including cannabis. Hence, R&D initiatives to find various efficient cannabis applications to combat the COVID-19 infection benefitted market revenue.
The cannabis testing market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD Million from 2018 to 2032 for the following segments
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By Technology
- Chromatography
- Liquid Chromatography
- Gas Chromatography
- Other
- Spectroscopy
- Mass Spectrometry
- Atomic Spectroscopy
- Others
By Test
- Potency Testing
- Pesticide Screening
- Residual Solvent Screening
- Heavy Metal Testing
- Terpene Testing
- Mycotoxin Testing
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- Italy
- France
- Spain
- UK
- Belgium
- Czech Republic
- Denmark
- Finland
- Greece
- Ireland
- Norway
- Poland
- The Netherlands
- Latin America
- Argentina
- Brazil
- Chile
- Colombia
- Mexico
- Rest of World
- Australia
- Thailand
- Israel