As per Inkwood Research, the Global Cannabis Testing Market is predicted to progress at a CAGR of 13.32% in terms of revenue over the forecasting period of 2024-2032.
“Browse 105 Market Data Tables and 74 Figures spread over 140 Pages, along with an in-depth TOC on the Global Cannabis Testing Market Forecast 2024-2032.”
Cannabis testing refers to the process of analyzing cannabis products to ensure their safety, quality, and potency. It involves various tests such as potency testing, contaminant screening, and terpene profiling to meet regulatory standards and consumer expectations.
Stimulating Testing Amenities to Boom Cannabis Testing Market Growth
Stimulating testing amenities are driving the rapid growth of the cannabis testing market. These amenities include advanced laboratory facilities, modern testing equipment, and sophisticated analytical techniques. They are crucial in ensuring the safety, quality, and potency of cannabis products. The demand for reliable and accurate testing services is escalating due to the increasing legalization and regulation of cannabis across various regions. As a result, testing laboratories and service providers are experiencing a surge in business opportunities, leading to significant market expansion.
Potency Testing: Dominating Test Type in 2023
Potency testing has become crucial in the legal cannabis testing market, requiring both retail and medical products to disclose THC percentage by dry weight on labels. This information, often presented as a range or average with separate figures for THC and THCA, is mandated due to the drug’s intoxicating nature and controlled substance classification. As cannabis usage rises, clear THC potency information is vital for consumers, prompting facilities to adopt potency testing to address concerns over accuracy highlighted by recent reports and lawsuits.
North America: Major Region
Varied US regulations drive demand for cannabis testing services in the region. In Canada’s mature market, over 150 labs operate, meeting the growing need for reliable testing as Licensed Producers expand globally. This trend underscores the essential role of testing in ensuring product quality and regulatory compliance in North America.
Due to evolving regulations and technological advancements, the global cannabis testing market witnesses fierce competition among key players. Intensified rivalry drives companies to offer advanced testing solutions and expand their market reach to stay competitive. Furthermore, some of the leading companies operating in the market include Accelerated Technology Laboratories Inc, Agilent Technologies Inc, Anresco Laboratories, DigiPath Inc, etc.
Related Reports:
CANNABIS EXTRACTION & ANALYTICAL TESTING MARKET
ANALYTICAL LABORATORY INSTRUMENTS MARKET
POLYMERASE CHAIN REACTION MARKET
About Inkwood Research
Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, the Middle East, Europe, Asia, and Africa.
Contact Us
sales@inkwoodresearch.com
1-(857)293-0150