Yahoo Finance Global Cannabis Testing Strategic Market Report 2023: A $2.8 Billion Market by 2030 - Advent of Luxury Cannabis Products Fuels Need for Cannabis Testing
Global Market for Cannabis Testing
Dublin, Feb. 03, 2023 (GLOBE NEWSWIRE) -- The "Cannabis Testing - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Cannabis Testing Market to Reach $2.8 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Cannabis Testing estimated at US$1.1 Billion in the year 2022, is projected to reach a revised size of US$2.8 Billion by 2030, growing at a CAGR of 13.2% over the analysis period 2022-2030.
Services, one of the segments analyzed in the report, is projected to record a 15% CAGR and reach US$1.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Products segment is readjusted to a revised 9.5% CAGR for the next 8-year period.
The U.S. Market is Estimated at $309.6 Million, While China is Forecast to Grow at 12.1% CAGR
The Cannabis Testing market in the U.S. is estimated at US$309.6 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$475.6 Million by the year 2030 trailing a CAGR of 12.1% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12% and 11.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 9.2% CAGR.
What`s New for 2023?
Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and Research Platform
Complimentary updates for one year
Key Metrics
Report Attribute | Details |
No. of Pages | 189 |
Forecast Period | 2022 - 2030 |
Estimated Market Value (USD) in 2022 | $1.1 Billion |
Forecasted Market Value (USD) by 2030 | $2.8 Billion |
Compound Annual Growth Rate | 12.4% |
Regions Covered | Global |
Key Topics Covered:
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Cannabis Testing: An Essential Aspect of Legal Cannabis Industry
Global Cannabis Testing Market: Percentage Breakdown of Sales by Products for 2019
Chromatography: The Most Common Type of Technology in Use for Cannabis Testing
Potency Testing Leads the Global Cannabis Testing Market
Laboratories End-Use Segment Captures the Maximum Share of Market
Global Cannabis Testing Market: Percentage Breakdown of Sales by End-User for 2019 and 2025
US Emerges as the Largest Regional Market for Cannabis Testing
Cannabis Testing - Global Key Competitors Percentage Market Share in 2022 (E)
Cannabis Testing Labs Resort to Differentiation Strategy to Fight Competition
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS (Total 32 Featured)
PerkinElmer, Inc.
PharmLabs LLC.
Restek Corporation
SC Laboratories, Inc.
Shimadzu Corporation
Steep Hill Labs, Inc
Waters Corporation
AB Sciex LLC
Accelerated Technology Laboratories, Inc.
Agilent Technologies, Inc.
Digipath Inc.
Merck KGaA
3. MARKET TRENDS & DRIVERS
With the Number of Countries Legalizing Cannabis on the Rise, Expanding Legal Cannabis Market Drives Demand for Cannabis Testing
Global Market for Legal Marijuana in US$ Billion for the Years 2019, 2021, 2023 and 2025
Growing Use of Cannabis for Treatment of Serious Medical Conditions Drives Demand for Cannabis Testing to Assess Product Quality
List of Countries Where Medical Marijuana is Legal
Global Legal Medical Marijuana Market: Percentage Breakdown of Revenues by Application for 2019
Legalization of Recreational Cannabis: Growth Prospects for Cannabis Testing
Advent of Luxury Cannabis Products Fuels Need for Cannabis Testing
Increasing Use of LIMS in Cannabis Testing Labs: A Major Area of Growth
Cloud-enabled LIMS Systems Reduce Manual Workloads and Improve Lab Productivity
LIMS Systems and Software Enable Automated Cannabis Testing Processes
Managing Cannabis Testing Workflows with LIMS System
Cannabis Testing Labs Use LIMS Systems to Achieve ISO 17025 Compliance
Rising Significance of Chromatography in Cannabis Testing
Increase in Cannabis Testing Labs and Awareness Programs to Educate People in Developed Economies: A Major Growth Opportunity
List of Cannabis Testing Labs in Select Countries/US States
An Insight into Automated Cannabis Testing Market
Focus on R&D Development and Need for Cannabis Testing Labs Drives Growth
Challenges Confronting Cannabis Testing Market
Lack of Standardization for Cannabis Testing
Compliance Challenges Plague Cannabis Testing Space
High Investments to Set Up Testing Labs and High Cost of Analytical Instruments & Tests
Shortage of Trained Lab Professionals for Cannabis Testing
Innovations, Advantages & Research Studies
Improving Efficiency of Cannabis Product Testing
UBC Researchers Develop New Method to Measure Phytocannabinoids
Development of Suitable Sample Prep Techniques for Cannabis Testing Market
Gemmacert Develops Home Kit for Cannabis Testing
PRODUCT OVERVIEW
What is Cannabis?
Cannabis Testing
Cannabis Product Testing
Cannabis Drug Testing
4. GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/lwcv6m-testing?w=12
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