Cannabis Testing Market size is set to grow by USD 1.50 bn from 2023-2027, increasing use of cannabis for medical purposes to boost the market growth, Technavio

NEW YORK, May 13, 2024 /PRNewswire/ -- The global cannabis testing market  size is estimated to grow by USD 1.50 bn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of about 13.06%  during the forecast period. 

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Market Challenges

• Long-term side effects stemming from excessive cannabis use present challenges impacting market growth.
• Controlled and monitored consumption of cannabis offers benefits to the body, but excessive usage can result in adverse long-term effects.
• Methods of cannabis consumption include smoking in hand-rolled cigarettes, pipes, and hookahs.
• Prolonged cannabis smoking contributes to respiratory issues such as chronic cough, increased phlegm production, and acute bronchitis.
• Concurrent use of cannabis and alcohol exacerbates bodily harm and health risks.
• The cannabis testing market caters to various analytical needs, including potency testing, terpene profiling, pesticide screening, residual solvent analysis, heavy metal testing, and microbial analysis. Key players like Agilent Technologies, Merck, Perkin Elmer, Shimadzu, and Thermo Fisher Scientific provide high-quality instruments, such as chromatography systems, spectroscopy devices, and PCR systems. However, high costs pose a challenge for small and medium-scale testing laboratories, particularly in developing countries. These labs prioritize R&D experiments and prefer partnerships for proteomic research. Traditional large mass spectrometers have given way to more affordable and innovative testing solutions and services. Keywords: cannabis testing market, analytical testing, testing services, testing solutions, cannabis testing products, regulatory standards, testing protocols, contaminants, microbes, pesticides, heavy metals, residual solvents, shelf life, consumer safety.

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Segment Overview 

This cannabis testing market report extensively covers market segmentation by

1. Product 
• 1.1 Consumables
• 1.2 Instruments
• 1.3 Software
2. End-user 
• 2.1 Cannabis cultivators/growers
• 2.2 Cannabis drug manufacturers
• 2.3 Others
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of World (ROW)

1.1 Consumables- 

During the forecast period, significant market share growth is expected in the consumables segment, which comprises reusable glassware, laboratory equipment, solvents for chromatography extraction, and reagents for sample preparation. Effective sample preparation is crucial as impurities in samples can lead to inaccurate results when separated using chromatography or mass spectrometers.

In 2017, the consumables segment was valued at USD 661.99 million, with Sigma-Aldrich, a subsidiary of Merck, emerging as the largest supplier globally. Sigma-Aldrich provides a comprehensive range of consumables tailored for testing chromatography systems and mass spectrometers. These consumables are crafted from materials compatible with high-performance liquid chromatography (HPLC) and liquid chromatography-mass spectrometry (LC-MS) instruments.

The cannabis testing market encompasses a range of applications, including the detection and quantification of heavy metals and residual solvents in tinctures, salves, edibles, vape oils, raw plant materials, and novel equipment. Consumer safety and regulatory standards are paramount in this industry, necessitating stringent testing protocols. Strategic alliances between testing laboratories, such as Botanacor Laboratories and Agricor Laboratories, and professionals offer testing services and solutions for potency testing, contamination cases involving fungus, molds, insecticides, and mycotoxins. The Farm Bill legalizing hemp cultivation has further expanded the market, necessitating advanced laboratory equipment and testing procedures. Medicinal Genomics and Gas Chromatography are essential tools in identifying cannabinoids like Cannabidiol (CBD) and Tetrahydrocannabinol (THC) in various matrices, including transdermal patches and e-liquids. Regulatory compliance and product quality are ensured through testing results, which are crucial for cannabis cultivators/growers and drug manufacturers.

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Research Analysis

The Cannabis Testing Market encompasses the provision of services and equipment for analyzing medical cannabis products. This market caters to various patient populations, including those suffering from Nausea due to Chemotherapy, AIDS, and Multiple Sclerosis, as well as Glaucoma patients seeking therapeutic potential. High costs are a significant consideration, making accurate and reliable testing essential. Laboratories offer Potency testing services using techniques like Gas Chromatography to determine CBD levels. Contaminants, such as Microbes, Pesticides, Heavy metals, Residual solvents, Insecticides, and Mycotoxins, pose health risks and must be identified and quantified. Shelf life assessment is crucial to ensure product quality and safety. Professionals in the industry provide various service types, including Contaminant testing and Potency analysis. The Farm Bill's legalization of hemp cultivation has increased market demand. Advanced Laboratory equipment, such as Gas Chromatography systems, are integral to delivering accurate results. The Cannabis Testing Market plays a vital role in maintaining patient safety and ensuring the efficacy of prescription medications.

Market Research Overview

The Cannabis Testing Market is experiencing significant growth due to increasing legalization and regulation of cannabis products. Companies are investing in advanced technologies such as chromatography, mass spectrometry, and gas chromatography-mass spectrometry (GC-MS) for testing cannabis strains and extracts. These tests ensure product safety, potency, and consistency, addressing concerns related to contaminants, heavy metals, pesticides, and THC levels. The market is segmented by product type, including cannabis flower, concentrates, edibles, and beverages, and by end-use, including medical and recreational applications. Regulatory bodies like the Food and Drug Administration (FDA) and the European Medicines Agency (EMA) are also driving the market with stringent testing requirements. The future of the Cannabis Testing Market lies in continuous innovation and the adoption of automation and AI technologies for faster and more accurate testing.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Consumables
• Instruments
• Software
• End-user
• Cannabis Cultivators/growers
• Cannabis Drug Manufacturers
• Others
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio