Cannabis Testing Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Cannabis Testing Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : October, 2020 | Biotechnology | PPT format

Report Digest


Global Cannabis Testing Market: Snapshot

Cannabis testing entails detecting traces of the illicit drug in people. Also, referred to as grass, marijuana, dope, pot, weed, joints, hash, joints, and so on, it is often used in sports or medicine to reduce pain, bring about muscle relaxation, and reduce stress. Despite such benefits, it is not legalized since it has a high potential for abuse on account of the intoxication its leads to.

A debate has been raging for decades now if cannabis should be made legal and used in medicines. However, certain long term disadvantages of it such as rising risks of respiratory diseases related to smoking, risk of cancer, reduced memory, and lowered concentration, has resulted in it being banned in most parts of the world. This has been the primary driver of cannabis testing market.

However, unlike alcohol testing which can be done with a breath analyzer, cannabis testing is more elaborate. It requires saliva tests, hair analysis, and urinalysis. Cannabis testing typically measure levels of THC or its metabolite, THC-COOH. Traces of cannabis can be found for months even after the last usage. However, these tests fail to detect the exact degree of impairment. Owing to the ban on the use of cannabis in most parts of the world and surging instances of intoxicated driving, demand for cannabis testing is rising. An emerging trend in the market is the luxury cannabis which contains limited amounts of it to prevent the ill-effects of smoking.

Currently, North America is a key market for cannabis testing for reasons more than one. First it is home to many laboratories equipped to test cannabis. Second cannabis is legalized for medical purposes in the region. Third, rising knowledge about medical cannabis, increasing spends on its research, and presence of many key players in the market is also benefitting it.

Global Cannabis Testing Market: Overview

Cannabis testing includes a number of drug test methodologies pertaining to the use of cannabis in sports, medicine, and law. Unlike alcohol, which can be tested using a breathalyser, cannabis testing requires hair analysis, saliva tests, and urinalysis, and is a time consuming process. Moreover, these tests fail to detect the exact degree of impairment, although via cannabis testing it is possible to distinguish between active and passive exposure, duration from the time of use, and the extent. Owing to the ban on the use of cannabis in most parts of the world and increased cases of intoxicated driving, the need for proper cannabis testing is escalating. As a result, the demand in the global cannabis testing market is expected to expand at a healthy rate during the forecast period of 2017 to 2025. 

Global Cannabis Testing Market: Key Trends

While 25 states in the U.S. have already legalized the use of cannabis for medical purposes, several other states are expected to walk along similar path in the near future. This growing legalization of cannabis use is the primary driver in the global market for cannabis testing. In addition to that, escalating number of specialized laboratories for cannabis testing, growing awareness for the availability of these tests via workshops, conferences, and symposia, increasing demand cannabis testing for international travelers, and incremented number of drug influenced road accidents are some of the other factors augmenting the demand in the global cannabis testing market. On the other hand, presence of alternative technologies, high cost of cannabis analytical instruments, and the lack of skilled professionals are a few factors that are hindering the global cannabis testing market from achieving its true potential.

Based on test-type, the global cannabis testing market can be segmented into terpene profiling, pesticide screening, potency testing, residual solvent screening, microbial analysis, genetic testing, and heavy metal testing. Research institutes, laboratories, cultivators and drug manufacturers are some of the categories of end user in the global cannabis testing market. 

Global Cannabis Testing Market: Market Potential

For a long time, the lack of investments made towards the development of proper drug testing laboratories was obstruction the prosperity of this market but in the recent past, this has changed. For instance, Poseidon Asset Management, Delft Blue Horizons, and Phyto Partners collectively funded Steep Hill Labs, Inc. with US$2.0 mn in November 2015 in order to expand new research in this field and develop more sophisticated testing equipment. Along the similar lines, Agrinnovation invested US$1.0 mn into the ventures of Cannabi-Tech Ltd. in February 2017, aspiring to launch specialized medical cannabis dispensaries and labs. This financial encouragement is expected to lure new opportunities for the players in this market.

Global Cannabis Testing Market: Regional Outlook

Geographically, North America is the most lucrative region for the players in the global market for cannabis testing, and is expected to remain highly profitable throughout the forecast period owing to factors such as growing number of laboratories equipped to test cannabis, legalization of cannabis for medical purposes, escalating awareness pertaining to medical cannabis, incremented funding, and presence of several prominent vendors in this market is propelling the demand in the cannabis testing market in North America. 

Global Cannabis Testing Market: Competitive Landscape

Shimadzu Corporation, Agilent Technologies, Inc., PerkinElmer, Inc., AB SCIEX LLC, Waters Corporation, Millipore Sigma, Restek Corporation, LabLynx, Inc.(U.S.), Steep Hill Labs, Inc., Accelerated Technology Laboratories, Inc., SC Laboratories Inc., PharmLabs, LLC, Digipath Labs, Inc., and CannaSafe Analytics are some of the leading companies currently operating in the global cannabis testing market. Expanding their outreach in untapped regions and presenting the usefulness of these tests in order to gain new funding is the primary strategy of these players.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?