Cannabis Testing Service Market Size, Share, Opportunities, And Trends By Testing Type (Potency Testing, Pesticide Testing, Residual Solvent Testing, Heavy Metals Testing, Microbiological Testing, Terpene Profiling, Genetic Testing), By Product Type (Chromatography Instruments, Spectroscopy Instruments, Consumables & Test Kit), By End-User (Testing Laboratories, Research Institutes, Others), And By Geography - Forecasts From 2024 To 2029
- Published : Feb 2024
- Report Code : KSI061616633
- Pages : 143
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The cannabis testing service market is anticipated to expand at a high CAGR over the forecast period.
Cannabis testing services play a crucial role in ensuring the safety, quality, and compliance of cannabis products. As the cannabis industry continues to expand, regulatory authorities and consumers alike are emphasizing the importance of rigorous testing to verify the potency, purity, and absence of contaminants in cannabis products. These services involve comprehensive laboratory analyses to assess cannabinoids, terpenes, pesticides, heavy metals, residual solvents, and microbial contaminants in cannabis samples. By providing accurate and reliable testing results, cannabis testing services help cultivators, manufacturers, and consumers to make informed decisions, contribute to regulatory compliance, and ultimately promote the overall safety and quality of cannabis products in the market.
Market Drivers
- Increasing approval for medical use of marijuana
The market is experiencing significant growth primarily due to the rising approvals for the medical use of cannabis. The legal acceptance of cannabis for medical applications is steadily expanding, although it varies among countries concerning possession, distribution, cultivation, and approved medical indications. Furthermore, a growing body of research is endorsing the therapeutic potential of marijuana, with some studies suggesting its effectiveness in addressing the opioid epidemic. Various government authorities in North America, Europe, and South America have enacted laws legalizing medicinal marijuana either entirely or with restricted usage, subject to stringent regulations.
- Cannabis treats mental and neurological disorders
The utilization of cannabis extracts for the treatment of various neurological and mental disorders is contributing to the cannabis testing market growth. The prevalence of such disorders is on the rise, coupled with an increased focus on cannabis production and consumption. According to data from the European Brain Council in 2022, there are approximately 600 reported neurological disorders worldwide, with mental disorders ranking among the leading causes of global ill-health and disability. Depression stands out as the most prevalent mental disorder, affecting over 264 million individuals of all ages globally. Notably, women are more commonly affected by depression than men. Additionally, the increasing awareness of and preference for software services in cannabis testing laboratories are factors further propelling the market growth.
North America is anticipated to hold a significant share of the Cannabis Testing Service market-
North America is anticipated to maintain dominance in the overall market during the forecast period, driven by factors such as the elevated prevalence of chronic diseases, favorable regulatory frameworks, and the presence of prominent companies. An article by the Government of Canada from April 2022 reported that over 90,000 individuals aged 40 and above in Canada were living with Parkinson's disease. Updated data from the National Institute of Neurological Disorders and Stroke as of July 2022 indicated that approximately 500,000 people in the United States had been diagnosed with Parkinson's disease, with some experts suggesting that the actual number might exceed 1 million due to challenges related to underdiagnosis and misdiagnosis. Cannabis-derived CBD products are increasingly used to alleviate symptoms associated with neurological disorders like Parkinson's, contributing to the positive impact on market growth.
Market Developments
- In August 2022, ACS Laboratory, a cannabis testing company based in Florida, introduced a national hemp compliance testing panel. This panel is designed to assist in examining hemp samples, covering analysis for 18 cannabinoids, 105 pesticides, 24 heavy metals, 55 potential residual solvents, 17 different microorganisms, and all necessary mycotoxins, detecting even parts per billion. Additionally, the panel includes assessments for moisture content, water activity, and terpenes.
Market Segmentation
- By Testing Type
- Potency Testing
- Pesticide Testing
- Residual Solvent Testing
- Heavy Metals Testing
- Microbiological Testing
- Terpene Profiling
- Genetic Testing
- By Product Type
- Chromatography Instruments
- Spectroscopy Instruments
- Consumables & Test Kit
- By End-User
- Testing Laboratories
- Research Institutes
- Others
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- Japan
- China
- India
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others
- North America
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base, and Forecast Years Timeline
1.8. Key Benefits to the stakeholder
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Research Processes
3. EXECUTIVE SUMMARY
3.1. Key Findings
3.2. Analyst View
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
4.5. Analyst View
5. CANNABIS TESTING SERVICES MARKET BY TESTING TYPE
5.1. Introduction
5.2. Potency Testing
5.2.1. Market Trends and Opportunities
5.2.2. Growth Prospects
5.3. Pesticide Testing
5.3.1. Market Trends and Opportunities
5.3.2. Growth Prospects
5.4. Residual Solvent Testing
5.4.1. Market Trends and Opportunities
5.4.2. Growth Prospects
5.5. Heavy Metals Testing
5.5.1. Market Trends and Opportunities
5.5.2. Growth Prospects
5.6. Microbiological Testing
5.6.1. Market Trends and Opportunities
5.6.2. Growth Prospects
5.7. Terpene Profiling
5.7.1. Market Trends and Opportunities
5.7.2. Growth Prospects
5.8. Genetic Testing
5.8.1. Market Trends and Opportunities
5.8.2. Growth Prospects
6. CANNABIS TESTING SERVICES MARKET BY PRODUCT TYPE
6.1. Introduction
6.2. Chromatography Instruments
6.2.1. Market Trends and Opportunities
6.2.2. Growth Prospects
6.2.3. Liquid Chromatography
6.2.4. Gas Chromatography
6.2.5. Others
6.3. Spectroscopy Instruments
6.3.1. Market Trends and Opportunities
6.3.2. Growth Prospects
6.3.3. Mass Spectroscopy
6.3.4. Atomic Spectroscopy
6.4. Consumables & Test Kit
6.4.1. Market Trends and Opportunities
6.4.2. Growth Prospects
7. CANNABIS TESTING SERVICES MARKET BY END-USERS
7.1. Introduction
7.2. Testing Laboratories
7.2.1. Market Trends and Opportunities
7.2.2. Growth Prospects
7.3. Research Institutes
7.3.1. Market Trends and Opportunities
7.3.2. Growth Prospects
7.4. Others
7.4.1. Market Trends and Opportunities
7.4.2. Growth Prospects
8. CANNABIS TESTING SERVICES MARKET BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. By Testing Type
8.2.2. By Product Type
8.2.3. By End-Users
8.2.4. By Country
8.2.4.1. United States
8.2.4.1.1. Market Trends and Opportunities
8.2.4.1.2. Growth Prospects
8.2.4.2. Canada
8.2.4.2.1. Market Trends and Opportunities
8.2.4.2.2. Growth Prospects
8.2.4.3. Mexico
8.2.4.3.1. Market Trends and Opportunities
8.2.4.3.2. Growth Prospects
8.3. South America
8.3.1. By Testing Type
8.3.2. By Product Type
8.3.3. By End-Users
8.3.4. By Country
8.3.4.1. Brazil
8.3.4.1.1. Market Trends and Opportunities
8.3.4.1.2. Growth Prospects
8.3.4.2. Argentina
8.3.4.2.1. Market Trends and Opportunities
8.3.4.2.2. Growth Prospects
8.3.4.3. Others
8.3.4.3.1. Market Trends and Opportunities
8.3.4.3.2. Growth Prospects
8.4. Europe
8.4.1. By Testing Type
8.4.2. By Product Type
8.4.3. By End-Users
8.4.4. By Country
8.4.4.1. United Kingdom
8.4.4.1.1. Market Trends and Opportunities
8.4.4.1.2. Growth Prospects
8.4.4.2. Germany
8.4.4.2.1. Market Trends and Opportunities
8.4.4.2.2. Growth Prospects
8.4.4.3. France
8.4.4.3.1. Market Trends and Opportunities
8.4.4.3.2. Growth Prospects
8.4.4.4. Italy
8.4.4.4.1. Market Trends and Opportunities
8.4.4.4.2. Growth Prospects
8.4.4.5. Spain
8.4.4.5.1. Market Trends and Opportunities
8.4.4.5.2. Growth Prospects
8.4.4.6. Others
8.4.4.6.1. Market Trends and Opportunities
8.4.4.6.2. Growth Prospects
8.5. Middle East and Africa
8.5.1. By Testing Type
8.5.2. By Product Type
8.5.3. By End-Users
8.5.4. By Country
8.5.4.1. Saudi Arabia
8.5.4.1.1. Market Trends and Opportunities
8.5.4.1.2. Growth Prospects
8.5.4.2. UAE
8.5.4.2.1. Market Trends and Opportunities
8.5.4.2.2. Growth Prospects
8.5.4.3. Others
8.5.4.3.1. Market Trends and Opportunities
8.5.4.3.2. Growth Prospects
8.6. Asia Pacific
8.6.1. By Testing Type
8.6.2. By Product Type
8.6.3. By End-Users
8.6.4. By Country
8.6.4.1. Japan
8.6.4.1.1. Market Trends and Opportunities
8.6.4.1.2. Growth Prospects
8.6.4.2. China
8.6.4.2.1. Market Trends and Opportunities
8.6.4.2.2. Growth Prospects
8.6.4.3. India
8.6.4.3.1. Market Trends and Opportunities
8.6.4.3.2. Growth Prospects
8.6.4.4. South Korea
8.6.4.4.1. Market Trends and Opportunities
8.6.4.4.2. Growth Prospects
8.6.4.5. Taiwan
8.6.4.5.1. Market Trends and Opportunities
8.6.4.5.2. Growth Prospects
8.6.4.6. Thailand
8.6.4.6.1. Market Trends and Opportunities
8.6.4.6.2. Growth Prospects
8.6.4.7. Indonesia
8.6.4.7.1. Market Trends and Opportunities
8.6.4.7.2. Growth Prospects
8.6.4.8. Others
8.6.4.8.1. Market Trends and Opportunities
8.6.4.8.2. Growth Prospects
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Market Share Analysis
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Competitive Dashboard
10. COMPANY PROFILES
10.1. Saskatchewan Research Council (SRC)
10.2. Steep Hill Inc.
10.3. SGS Canada Inc.
10.4. Pharm Labs
10.5. Green Leaf Lab
10.6. Agilent Technologies Inc.
10.7. Danaher Corporation
10.8. MERCK KGAA
10.9. Perkin Elmer
10.10. SC Laboratories
Saskatchewan Research Council (SRC)
Steep Hill Inc.
SGS Canada Inc.
Pharm Labs
Agilent Technologies Inc.
Danaher Corporation
MERCK KGAA
Perkin Elmer
SC Laboratories
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