USD 7 Billion
Cannabis Testing Market Size, Share, Growth Analysis, By Technology(Chromatography, Liquid chromatography, Gas chromatography, Spectroscopy), By Test(Potency Testing, Pesticide Screening, Residual Solvent Screening, Heavy Metal Testing), By End User(Laboratories, Cannabis Cultivators and Growers, Cannabis Drug Manufacturers and Dispensaries, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30C2143 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
99
|Figures:
68
Cannabis Testing Market Insights
Global Cannabis Testing Market size was valued at USD 7 Billion in 2022 and is poised to grow from USD 7.9 Billion in 2023 to USD 21.9 Billion by 2031, growing at a CAGR of 13.5% in the forecast period (2024-2031).
The utilization of cannabis extracts in treating numerous neurological and mental disorders has surged alongside the rise in both the prevalence and production of cannabis. This escalating trend is expected to fuel substantial growth in the cannabis testing market over the forecast period. According to the European Brain Council, there are approximately 600 reported neurological disorders worldwide, positioning mental disorders among the leading causes of global ill-health and disability.
Notably, depression stands out as the most prevalent mental disorder, affecting over 264 million individuals of all ages globally, with a higher incidence among women. This growing prevalence underscores the significance of cannabis testing in evaluating the efficacy and safety of cannabis-based treatments. Additionally, the increasing recognition and adoption of software services within laboratories conducting cannabis testing serve as pivotal factors propelling the market's expansion, enhancing testing capabilities and accuracy in analyzing cannabis-related products.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Cannabis Cultivators and Growers
Fastest Growth
Growth Rate
13.5% CAGR
Global Cannabis Testing Market ($ Bn)
Country Share for North America Region (%)
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Cannabis Testing Market Segmental Analysis
The global cannabis testing market is segmented into three segments i.e. by technology, test and region. Based on Technology the market is segmented as, chromatography, gas chromatography, spectroscopy, liquid chromatography, atomic spectroscopy, mass spectrometry and others. Based on end user the market is segmented as, laboratories, cannabis cultivators and growers, cannabis drug manufacturers and dispensaries, and other end users. Based on test the market is segmented as, potency testing, pesticide screening, residual solvent screening, heavy metal testing, terpene testing, mycotoxin testing, and others. Based on regions the market is segmented as, North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa..
Analysis by End-Use
In 2022, cannabis cultivators and growers emerged as key players, wielding significant influence and commanding a substantial share of the market revenue. Their prominence is evident in strategic partnerships forged with testing laboratories and research centers, a strategic response to stringent government regulations governing THC content in cannabis products across numerous countries. These collaborative endeavors effectively streamline compliance with regulatory standards, ensuring the production of cannabis strains that align with permissible THC limits.
The segment focused on cannabis drug manufacturers is projected to demonstrate the most rapid CAGR over the forecast period, spurred by substantial factors reshaping the pharmaceutical industry. Central to this trajectory is the growing recognition of marijuana's therapeutic potential, complemented by an upsurge in cannabis-based clinical trials conducted by leading pharmaceutical giants like Sanofi, Solvay Pharmaceuticals, and Pfizer. These endeavors stand as primary catalysts propelling the exceptional growth trajectory within this segment.
Analysis by Test
The segment focusing on potency testing services has emerged as a dominant force within the market, exhibiting the most substantial share and poised for exceptional growth in the forecast period. The surge in the cannabis market can be credited to the expanding legalization of medical marijuana, especially prominent in the United States, coupled with the increasing use of CBD in treating diverse diseases.
Terpene analysis stands as a pivotal keystone, playing a fundamental role in examining and identifying the diverse array of terpenes within cannabis strains. These organic compounds serve as the architects behind the characteristic aromas and flavors that distinguish different varieties of cannabis, potentially influencing the therapeutic effects of the plant. Terpene testing holds immense significance in unraveling the intricate nuances of cannabis strains, providing valuable insights into their distinct qualities and potential medicinal benefits. By delving into the terpene profile of cannabis, researchers and industry professionals gain a deeper understanding of how these compounds contribute not only to the sensory experience but also to the potential therapeutic properties of different cannabis cultivars.
Global Cannabis Testing Market By End-Use
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Cannabis Testing Market Regional Insights
In 2022, North America emerged as the powerhouse of the cannabis testing market, commanding an impressive 84.6% revenue share and poised for sustained growth with a significant CAGR projected for the forecast period. A key driving force behind this expansion is the proliferation of testing laboratories, a direct response to stringent governmental regulations governing marijuana cultivation practices in the region.
The Asia Pacific anticipates a remarkable CAGR of 25.9% in the cannabis testing market, indicative of a substantial surge. This growth surge is propelled by the escalating trend of legalizing medical cannabis across multiple countries in the region. As legalization gains momentum, the demand for cannabis testing services is expected to soar, driven by governmental bodies and businesses prioritizing the assurance of safety and efficacy in medical cannabis products. This heightened emphasis on rigorous testing underscores the critical role these services play in ensuring the quality and reliability of medical cannabis offerings.
Global Cannabis Testing Market By Region
- Largest
- Fastest
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Cannabis Testing Market Dynamics
Drivers
Legalization of Medical Cannabis Coupled with Rise in Number of Cannabis Testing Laboratories
- Medical cannabis has risen as a promising therapeutic avenue for a spectrum of medical conditions, showcasing its effectiveness in alleviating symptoms and enhancing the quality of life for patients. Its notable impact includes mitigating chemotherapy-induced nausea, stimulating appetite among individuals combating AIDS, and managing muscular spasms in those diagnosed with multiple sclerosis, supported by extensive documentation.
Restraints
Lack of Testing Standards may Restrain Industry Progression
- The expansion of the cannabis testing market encounters a substantial hurdle stemming from the absence of standardized testing protocols. This lack of uniformity in testing standards presents a considerable challenge, especially regarding the precise dosing of cannabis intended for medical purposes. The fragmented nature of quality standards prevailing across various states significantly undermines the reliability and consistency of cannabis-based medications.
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Cannabis Testing Market Competitive Landscape
The global Cannabis Testing Market thrives within a dynamic and competitive landscape, marked by a blend of established brands, emerging players, and specialized producers. Innovation stands as a pivotal competitive factor within this arena. Foremost brands heavily invest in research and development, continuously introducing novel flavors, diverse packaging formats, and health-centric variations to address evolving consumer tastes. Often, these industry leaders set the trends within the market, leveraging their innovative strides to not only meet but also shape the shifting preferences of consumers. This emphasis on pioneering developments underscores the competitive edge and adaptability crucial for success in this ever-evolving sector.
Top Player’s Company Profiles
- Shimadzu Scientific Instruments
- Agilent Technologies Inc.
- Danaher Corporation
- Accelerated Technology Laboratories Inc.
- Merck KGaA (Sigma Aldrich)
- Pharmlabs LLC
- Restek Corporation
- Sartorius AG
- Steep Hill Halent Laboratories Inc.
- PerkinElmer Inc.
- Digipath Inc.
- AB Sciex Pte. Ltd
Recent Developments
-
In February 2024, The Bank of Guam in the United States, has launched Cannabis Banking, a program providing banking services for the cannabis industry on Guam and the Commonwealth of the Northern Mariana Islands. With the launch of Cannabis Banking, the Bank of Guam becomes the first local financial institution in this region to serve "all tiers" of cannabis-related businesses, or CRBs.
-
In December 2023, PSI Labs, one of the first licensed marijuana safety labs in Michigan, closed its doors after eight and a half years of testing marijuana for contaminants and potency. Ben Rosman, co-founder and CEO of Ann Arbor’s PSI Labs, said that accuracy proved to be bad for business.
Cannabis Testing Key Market Trends
- The driving force behind this growth stems from robust government backing for the legalization of medical marijuana in these regions. This supportive stance toward medical cannabis legalization has become a magnet for investors, major industry players, and governmental bodies, all eyeing opportunities to invest in bolstering cannabis testing infrastructure.
Cannabis Testing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. The progressive legalization of cannabis, both for medical purposes and recreational use across diverse regions and countries, stands as a primary catalyst propelling the demand within the global cannabis testing services market. This evolving landscape of cannabis regulations necessitates stringent measures to ascertain the safety, potency, and overall quality of cannabis products, underscoring the pivotal role of comprehensive testing services.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7 Billion |
| Market size value in 2031 | USD 21.9 Billion |
| Growth Rate | 13.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cannabis Testing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cannabis Testing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cannabis Testing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cannabis Testing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cannabis Testing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cannabis Testing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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