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Cannabis Testing Market 2020-2027 : Overview by Types, Application, Key Players, Regional Outlook, Market Drivers & Restraints

The global cannabis testing market accounted to US$ 1,028.2 Mn in 2017 and is expected to grow at a CAGR of 11.9% during the forecast period 2018 - 2025, to account to US$ 2,486.7 Mn by 2025.

“Legalization of medical cannabis is anticipated to drive the market for cannabis testing over the forecast period.”

According to a new market research study titled ‘Cannabis Testing Market to 2025 – Global Analysis and Forecasts by Type, Services and End User, the global cannabis testing market was valued at US$ 1,028.2 Mn in 2017 and is estimated to reach US$ 2,486.7 Mn by 2025. The market is estimated to grow with a CAGR of 11.9% from 2017-2025.The report highlights the trends prevalent in the global cannabis testing market and the factors driving the market along with those that act as deterrents to its growth.

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Company Profiles

  • Agilent Technologies
  • PerkinElmer, Inc.
  • Shimadzu Corporation
  • SCIEX
  • Merck KGaA
  • Restek Corporation
  • Waters
  • CannaSafe Analytics
  • Accelerated Technology Laboratories, Inc.
  • Digipath Labs.

Global cannabis testing market, based on the type is segmented into product and services. The product segment is further bifurcated into analytical instruments and consumables segments. In 2017, the product segment witnesses the fastest and largest share. Additionally, the software segment is anticipated to grow at a significant rate during the forecast period.

Global cannabis testing market is expected to grow in the coming years, owing to the factors such as, legalization of medical cannabis, increasing awareness through conferences, symposia, and workshops and growing adoption of LIMS in cannabis testing laboratories. However, the stringent regulatory framework for cannabis and dearth of trained laboratory professionals act as a restraint for this market. On the other hand, advances in cannabis testing equipments likely to add novel opportunities for cannabis testing market, in the coming years.

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Reasons to Buy:

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the cannabis testing market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global cannabis testing market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

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