Cannabis Testing Cannabis Testing Services Is Fastest Growing Segment Fueling The Growth Of Cannabis Testing Services Market

https://www.coherentmarketinsights.com/market-insight/cannabis-testing-services-market-2976
Cannabis Testing Services Market


Cannabis testing services involve analyzing cannabis and cannabis-infused products for quality, safety and potency. This ensures consumers are provided consistent and accurate product information. With the legalization of cannabis in many regions, demand for cannabis testing services has increased significantly.


Market Overview:
Cannabis testing services analyze various cannabis attributes like cannabinoid profile, terpene analysis, residual solvents, heavy metals, pesticides, microbes and other contaminants. This helps ensure product quality and safety for consumers.

Market key trends:
The cannabis testing services market is driven by growing demand for analytical testing of cannabis for various purposes like quality control, seed-to-sale traceability, and product consistency. With large-scale production and commercialization of cannabis, testing has become obligatory to ensure products meet various regulatory compliances around the world. Technological advancements are allowing the testing of multiple parameters simultaneously using small sample size. This is improving efficiency and lowering costs. Standardization of testing protocols and accreditation of laboratories is also an ongoing trend to bring more credibility and transparency to the legal cannabis industry.

The global Cannabis Testing Services Market Size is estimated to be valued at US$ 1881.19 Mn in 2023 and is expected to exhibit a CAGR of 13.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis
Content: The cannabis testing services market is segmented into products and services, technology, and end use. The product and services segment is further divided into analytical testing and sample preparation. Among these, the analytical testing segment dominates the market and accounts for the largest market share. This segment holds the highest share as analytical testing involves various tests such as potency test, microbiological test, and pesticide screening which validate the quality and safety of cannabis products.

Key Takeaways
Market size: The global Cannabis Testing Services market is expected to witness high growth, exhibiting a CAGR of 13.% over the forecast period, due to increasing legalization of medical and recreational cannabis across various regions.

Regional analysis: North America currently dominates the cannabis testing services market owing to the widespread legalization of cannabis for medical as well as adult-use in major countries like the US and Canada. The North American market is expected to account for over 45% share of the global market by 2030.

Key players: Key players operating in the Cannabis Testing Services market are Thermo Fisher Scientific Inc., Merck KGaA, Shimadzu Corporation, PerkinElmer, Inc., Steep Hill Labs, Inc., CB Scientific Inc., Alpha-CAT, Orange Photonics, Inc., Gobi Labs, MyDx, Inc., SC Laboratories Inc., Restek Corporation, Waters Corporation, PharmLabs LLC, Eurofins Scientific, EVIO Labs, ProVerde Laboratories, Inc., Praxis Laboratory, Atlantic Test Labs, Inc., American Clinical Solutions, LLC., MCR Labs, Cannalysis, Aurum  Laboratory, LLC, The Niva Labs, Encore Labs, SGS Canada Inc., Agricore Laboratories, and California Cannabis Testing Labs.

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