Cannabis Testing Market report analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, LATAM & MEA, and Asia-Pacific.
The growth in this market is mainly driven by factors such as legalization of medical cannabis, coupled with the growing number of cannabis testing laboratories (specifically in the U.S.); growing adoption of LIMS in cannabis testing laboratories; and increasing awareness through conferences, symposia, and workshops. On the other hand, the high cost of analytical instruments, presence of alternative technologies, and dearth of skilled professionals are some of the major factors that are expected to restrain the growth of this market in the coming years.
On the basis of end user, the cannabis testing services market is further segmented into cannabis testing drug manufacturers & dispensaries and cannabis cultivators. In 2016, cannabis drug manufacturers & dispensaries accounted for the largest share of the cannabis testing services market. The growth of this market segment is mainly driven by regulatory guidelines mandating cannabis testing.
On the basis of region, the cannabis testing market is segmented into North America, Europe, LATAM & MEA, and Asia-Pacific. In 2016, North America accounted for the largest share of the market. Factors such as the growing legalization of cannabis for medical use, rapid growth in the number of cannabis testing laboratories, the presence of prominent players in this region, growing awareness regarding medical cannabis, and rising funding for the cannabis industry are some key factors driving market growth in this region.
Cannabis testing is a highly competitive and evolving industry with the presence of various well-established as well as emerging players in the market. Shimadzu Corporation (Japan), Agilent Technologies (U.S.), PerkinElmer, Inc. (U.S.), Millipore Sigma (U.S.), AB Sciex LLC (a Danaher Company) (U.S.), Restek Corporation (U.S.), ETC.
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