Cannabis Testing Market To Witness Huge Growth By 2030

1. Market Research Report EXCLUSIVE EDITION Global Cannabis Testing Market Research Report Global Industry Analysis, Forecast and Trends, 2022-2030 © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

2. Global Cannabis Testing Market © 2020 Statsville Consulting Private Limited Market Statsville Group (MSG) A part of Statsville Consulting Private Limited American Office American Office – 416, East Standsberry Street, Perkins, Oklahoma 74059, USA EMEA EMEA– 1165 Budapest 16 Diósy Lajos u. 24., Europe Asia Asia- -Pacific Office Pacific Office – F-178 Subhash Marg C Scheme, Ashok Nagar, Jaipur, Rajasthan, 302001 www.marketstatsville.com Disclaimer Disclaimer: : Any information and/or material provided by Statsville Consulting Private Limited, including any and all the analysis and/or research from Market Statsville Group (MSG), is offered to a selected group of customers in response to orders for such information, material, analysis, and/or research. As a customer of Statsville Consulting, you acknowledge that our information, material, and/or services are for your internal use only, and not for any external use and/or dissemination, or general publication, and/or disclosure to any third parties. Any and all the information and/or material provided by Statsville Consulting are based on primary interviews and/or secondary research, and are, therefore, subject to fluctuation and variance. Statsville Consulting takes no responsibility for any incorrect information and/or material supplied to us by sources we rely on, and no part of our analysis or research may be given, lent, resold, or disclosed to any third parties, including non-customers, without explicit or written permission from Statsville Consulting. Unauthorized reproduction and/or transmission of our information, material, analysis, and/or research in any form and by any means, including photocopying, mechanical/electronic recording,or otherwise, without the explicit and written permission of Statsville Consulting, is expressly and clearly prohibited. Any use of the information, material, analysis, and/or research provided by Statsville Consulting is at your sole risk; you acknowledge that the information, material, analysis, and/or research is provided “as is” and that Statsville Consulting provides no warranty of any kind, express or implied, with regard to the information, material, analysis, and/or research, including but not limited to, merchantability and fitness for any purpose and/or use. At the end, Statsville Consulting will be responsiblefor the final decision of any action. © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

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5. Cannabis Testing Market 2022: Industry Size, Regions, Emerging Trends, Growth Insights, Opportunities, and Forecast By 2030 Cannabis Testing Market by Product (Instruments, Consumables, and Software), by Test Type (Heavy Metal Testing, Residual Screening), by End-Users (Cannabis Cultivators, Cannabis Drug Manufacturers), by Region – Global Share and Forecast to 2030 Description Description According to the Market Statsville Group (MSG), the global cannabis testing market was valued at USD 1,224.4 million in 2021 and is projected to reach USD 3,009.9 million by 2030, registering a CAGR of 11.9% from 2022 to 2030. Growing demand for the cannabis legalization in several countries for medical purposes and increasing adoption of LIMS in cannabis testing laboratories are the major factors driving the growth of the cannabis testing market. Furthermore, many leading pharmaceutical companies looking for new technologies to collaborate with testing laboratories to market and distribute medical cannabis products are also expected to boost the market growth. However, the high start-up cost for cannabis testing laboratories is expected to restrain the market’s growth. These laboratories must make significant investments in high-priced, advanced analytical equipment in order to purchase and maintain it. Emerging economies in developing regions such as LATAM and Asia-Pacific, on the other hand, are expected to provide new opportunities for market participants. The outbreak of the COVID-19 pandemic had a positive and a negative impact on the pharmaceutical and life sciences industry. © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

6. Certain market segments have been more affected due to the low demand for consumables, instruments, and reagents as well as due to the supply chain disruptions and trade restrictions. Overall, labs worldwide were shut down or running at a reduced capacity. Instead of carrying out routine operations, the labs that were open were primarily focused on COVID-19 testing. Get PDF for more Professional and Technical insights: Get PDF for more Professional and Technical insights:https://www.marketstatsville.com/request https://www.marketstatsville.com/request- -sample/cannabis sample/cannabis- -testing testing- -market market Global Cannabis Testing Market Global Cannabis Testing Market Definition Definition Cannabis testing Cannabis testingrefers to the analysis that an individual sample of cannabis may be examined to determine THC, CBD, and terpene levels as well as for contaminants and impurities such as residual solvents, mold, disease, pests or pesticide residue. Global Cannabis Testing Market Dynamics Global Cannabis Testing Market Dynamics Drivers: Drivers:Rapid urbanization and industrialization Rapid urbanization and industrialization The global cannabis testing is in its mature stage. The top companies in the market have adopted product approval, collaboration, and agreement as their developmental strategies in the competitive market. The information provided in this report is obtained through press releases by the top companies and is limited to the publicly available information. LIMS can increase the efficiency of the cannabis testing laboratories and reduce procedural errors by enforcing SOPs, automating workflows, and strong process controls. LIMS ensures seamless data exchange with analytical instruments through instrument integration, preventing manual errors, and maintaining data integrity. Thus, LIMS software plays a crucial role in cannabis testing laboratories by managing, streamlining, and automating QA/QC processes. © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

7. Restraints: Restraints:High start High start- -up costs for cannabis testing up costs for cannabis testing laboratories laboratories Laboratories have to make significant investments in obtaining and maintaining high-priced, advanced analytical equipment. Equipment standardization and upgrades, software requirements, certifications (such as ISO certification protocols), accreditations, and the requirement of skilled specialists further add to the cost of operations. The impact of these factors is strengthened as many banks deny funding or any other form of assistance to these laboratories due to the ambiguity in the cannabis testing industry and lines of credit are not available for laboratory owners/operators. You Can Purchase Complete Report: You Can Purchase Complete Report:https://www.marketstatsville.com/buy https://www.marketstatsville.com/buy- -now/cannabis now/cannabis- -testing testing- -market?opt=2950 market?opt=2950 Scope of the Global Cannabis Testing Market Scope of the Global Cannabis Testing Market The study categorizes the cannabis testing market based on product, test type, and end-users at the regional and global levels. By Product Outlook By Product Outlook(Sales/Revenue, USD Million, 2017 (Sales/Revenue, USD Million, 2017– –2030) 2030) Instruments Consumables Software By Test Type Outlook By Test Type Outlook(Sales/Revenue, USD Million, 2017 (Sales/Revenue, USD Million, 2017– –2030) 2030) Heavy metal testing Microbial analysis Potency testing Residual screening Others © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

8. By End By End- -Users Outlook Users Outlook(Sales/Revenue, USD Million, 2017 (Sales/Revenue, USD Million, 2017– –2030) Cannabis Cultivators/Growers Cannabis Drug Manufacturers Others By Region Outlook By Region Outlook(Sales/Revenue, USD Million, 2017 (Sales/Revenue, USD Million, 2017– –2030) North America US Canada Mexico Europe Germany Italy France UK Spain Poland Russia The Netherlands Norway Czech Republic Rest of Europe 2030) 2030) © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

9. Asia Pacific China Japan India South Korea Indonesia Malaysia Thailand Singapore Australia & New Zealand Rest of Asia Pacific South America Brazil Argentina Colombia Rest of South America The Middle East & Africa Saudi Arabia UAE South Africa Northern Africa Rest of MEA © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

10. The consumables segment The consumables segmentaccounts for the largest market share, by accounts for the largest market share, by product product On the basis of product, the cannabis testing market is classified into instruments, consumables, and software. The consumables segment was the highest contributor to the market, with a market share of 58.5% in 2021. Consumable is the largest contributing segment in the global market, owing to the frequent use of consumables for cannabis testing. Cannabis testing involves using several medical devices to detect quality of cannabis. This helps to identify applications of cannabis for several medical purposes. Many companies are offering columns, supplies, & accessories, and sample handling products for cannabis testing. Repetitive use of these consumables is one of the major factors that drive the growth of this segment. Furthermore, high demand for the following instruments, such as chromatography and spectroscopy, across the globe contributes to the rise in demand for cannabis testing consumables, which boosts the growth of the market. Access full Report Description, TOC, Table of Figure, Chart, Access full Report Description, TOC, Table of Figure, Chart, etc etc: :https://www.marketstatsville.com/table https://www.marketstatsville.com/table- -of of- -content/cannabis content/cannabis- -testing testing- -market market Asia Pacific Asia Pacificaccounts for the highest accounts for the highestCAGR during the forecast period CAGR during the forecast period © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

11. Based on the regions, the global cannabis testing market has been segmented across North America, Asia–Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR of 12.8% in the global cannabis testing market during the forecast period. Asia-Pacific includes countries such as China, Japan, and Australia. Asia- Pacific is a densely populated region, with India and China being the most populated countries. The recent legalization of cannabis for medical and therapeutic use in many Asian countries combined with the high venture funding for cannabis testing is mainly responsible for driving the Asia-Pacific cannabis testing market. Asia-Pacific is the lucrative region for cannabis testing after LAMEA, owing to increased adoption of LIMS & cannabis legalization for medical & recreational purposes and increased demand through domestic manufacturing, which further boosts the market growth. For instance, increasing LIMS technique adoption helps improve the transparency of lab work status, reduce the costs & improved efficiency, provide flexibility to accommodate new requirements, and help improve quality & compliance. Penetration of information technology and increasing demand for data management & standardization are growing the number of LIMS vendors in the market. Key Market Players in the Global Cannabis Testing Market Key Market Players in the Global Cannabis Testing Market Global cannabis testing is in its mature stage. The top companies in the market have adopted product approval, collaboration, and agreement as their developmental strategies in the competitive market. The information provided in this report is obtained through press releases by the top companies and is limited to the publicly available information. Request For Report Description: Request For Report Description:https://www.marketstatsville.com/cannabis https://www.marketstatsville.com/cannabis- -testing testing- -market market © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

12. Major players in the global cannabis testing market are: Restek Corporation SC Laboratories Shimadzu Corporation Steep Hill Agilent Technologies Inc. Danaher Corporation Merck KGAA PerkinElmer Thermo Fisher Scientific © Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1-580-205-2707 | +91-702-496-8807

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