(I-BusinessNews.Com, November 08, 2019 ) 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 primary 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.
Market Dynamics:
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 before 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.
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.
Market Segmentation:
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.
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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.
Competitive Analysis:
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.
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Sai Kiran
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pr@datamintelligence.com
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