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    Cannabis Testing Market Report

    Cannabis Testing Market Report
    Report code - SRHL203 Delivery - 2 Weeks
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    Global Cannabis Testing Market, Trends, Dynamics, Market Analysis
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    Impact of COVID-19 on Cannabis Testing Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Cannabis Testing Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and statergy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    The Global Cannabis Testing Market is projected to grow from USD 1,020.8 million in 2020 to USD 2,150.5 million by 2026 at a CAGR of over 13.2% during the forecast period.

    Figure: Global Cannabis Testing Market Size, 2020-2026 (USD Million)

    Cannabis-Testing-Market-Forecast

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    What is Cannabis?

    Cannabis testing comprises various testing methods for detecting the use of cannabis in an individual in the field of medicine, sports, and law. There are numerous ways in which cannabis use can be determined, such as hair testing, saliva testing, urine testing, and blood testing. Cannabis testing by these methods is time-consuming, unlike that of alcohol detection by using breathalyzers. Some of the tests such as the Duequenois-Levine test can also be used for quick detection, although it’s not reliable as it gives false-positive results for other substances such as cannabinoids.

    Key Players

    Key players operating in the global cannabis testing market are-

    • Anandia Labs (Canada),
    • Anresco (The U.S.),
    • CannaSafe Analytics (The U.S.),
    • CW Analytical Laboratories (The U.S.),
    • Digipath (The U.S.),
    • Eirlab (Ireland),
    • EVIO (The U.S.),
    • Phytovista Laboratories (The U.S.),
    • Pure Analytics (The U.S.),
    • and SC Labs (The U.S.).

    Market Dynamics

    The growing use of cannabis for medical applications has resulted in the legalization of cannabis in various countries around the world. Presently, more than 30 countries worldwide have legalized the usage of cannabis for medical treatment, which thus offers new market opportunities to the market players in testing laboratories. Also, a rising focus to cater to the growing needs of hemp and cannabis cultivators will further result in a rise in the number of cannabis testing centers, thus proliferating the market growth. However, the high setup cost of cannabis testing facility due to costly equipment is likely to hinder the industry expansion.

    Segment Analysis

    Service Provider Trends

    Based on service provider, the global cannabis testing market has been segmented into laboratories, research institutes, manufacturers, others.

    • The laboratories segment witnessed the highest market share in 2020 and is likely to register a healthy CAGR during the review period.
    • Rising legalization trend of cannabis for both recreational and medical around the world, is expected to boost the segment growth.
    • Also, the growing concern to check the quality and safety of cannabis products, further augments testing in laboratories.

    Regional Trends

    By region, North America dominated the cannabis testing market in 2020 and is estimated to register a steady CAGR during the forecast period.

    • This is majorly attributed to rising healthcare expenditure, changing lifestyle, established biopharmaceutical industry, and the presence of major players operating in the cannabis testing market.
    • Furthermore, increasing legalization concerning the consumption of cannabis across various the U.S. states further accelerates the regional market growth.

    COVID-19 Impact on Global Cannabis Testing Market

    The outbreak of the COVID-19 virus has negatively impacted the cannabis testing industry due to the shutting down of academic & research institutes and testing laboratories that resulted in a decline in the number of cannabis tests performed in the laboratories. Furthermore, testing laboratory closures, restricted movement, shop closures, disrupted supply chains, and general economic slowdown further affected the global market growth during this period.

    Critical Questions Answered in the Report

    • What are the key trends in the global cannabis testing market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on global cannabis testing market?
    • What are the key strategies adopted by the major vendors to lead in the global cannabis testing market?
    • What is the market share of the top vendors?

    Target Audience

    Here is the list of the group of customers that the market hopes to have the greatest opportunity to convert-

    • Cannabis testing companies
    • Hospitals
    • Cannabis producing companies
    • Academic Institutions
    • Research Centers & Organizations

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    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].

    Frequently Asked Questions (FAQs)

    The cannabis testing market size is expected to reach USD 2,150.5 million in the foreseeable future.

    Anandia Labs (Canada), Anresco (The U.S.), CannaSafe Analytics (The U.S.), CW Analytical Laboratories (The U.S.), Digipath (The U.S.), Eirlab (Ireland), EVIO (The U.S.), Phytovista Laboratories (The U.S.), Pure Analytics (The U.S.), and SC Labs (The U.S.) are among the key players in the cannabis testing market.

    The cannabis testing market is expected to witness an impressive growth of 13.2% CAGR in the coming years.

    North America dominated the cannabis testing market in 2020 and is estimated to register a steady CAGR during the forecast period.

    The laboratories segment witnessed the highest market share in 2020 and is likely to register a healthy CAGR during the review period.

    Cannabis testing companies, Hospitals, Cannabis producing companies, Academic Institutions, Research Centers & Organizations are the target audience in the cannabis testing market.

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