Cannabis market is highly influenced by rigorous legalization efforts, which are aiming for approval of cannabis for medicinal or recreational purpose. Various governments and regulatory authorities are taking efforts to legalize cannabis, owing to its medicinal benefits. Moreover, commercialization of cannabis-based products under the legalized standards require successful cannabis testing, which further results in lucrative growth opportunity for market players.
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Cannabis testing service market is expected to witness significant growth over the forecast period, owing to legalization of cannabis for medicinal and recreational activities in key regions. For instance, in 2018, the parliament of Canada passed a law legalizing nationwide use of marijuana for recreational purposes. Furthermore, in February 2016, the Australia government amended the Narcotics Drugs Act 1967 to allow cultivation of cannabis for medicinal or scientific purposes under a national licensing scheme, which is expected to favour growth of the commercial manufacturing of cannabis in different regions of Australia.
Increasing Research & Development Activities in Cannabis and Establishment of New Cannabis Testing Labs is expected to Drive Growth of the Cannabis Testing Service Market
Increasing research and development activities in cannabis to improve the productivity and quality of cannabis product is major driving force for the global cannabis testing service market growth. For instance, in November 2018, a team of researchers at the University of Guelph investigated technologies that can help in growing better quality marijuana. The team focused on controlled environment production of medical marijuana, with proprietary plant-growing technology, using chambers to monitor and regulate all variables throughout the growth.
Moreover, the research also involved sensors attached to the plants to analyze the plants’ response to different types of management strategies. This approach allowed the team to produce organically grown, pesticide-free, high-yielding strains of cannabis, in addition to consistent generation of high-quality products in every batch.
Global Cannabis Testing Service Market – Competitive Landscape
Key players operating in the global cannabis testing service market include, SC Laboratory, Eurofins Scientific, EVIO Labs, ProVerde Laboratories, Inc., Praxis laboratory Cascadia Labs, Encore labs, SGS Canada Inc., Pharm Labs LLC, and Agricore Laboratories.
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- Global Cannabis Testing Services Market, By Test Type:
- Potency Testing
- Terpene Profiling
- Cannabinoid Profiling
- Pesticide Screening
- Residual Solvent Testing
- Microbiological Screening
- Other Tests
- Global Cannabis Testing Services Market, By End User:
- Cannabis Firms
- Homecare Settings
- Research Institutes
Global Cannabis Testing Service Market – Regional Insights
On the basis of region, the global cannabis testing service market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in the global cannabis testing service market during the forecast period, owing to increasing legalization of marijuana use in the U.S. by Federal Law. For instance, according to the Drug Policy 2018 report, on November 6, 2012, Colorado and Washington become the first two jurisdictions in the world to legalize marijuana for adult use. Moreover, in January 2018, Vermont became the first state to legalize marijuana through a state legislature. According to Governing 2019 report, 11 states have legalized marijuana for recreational use and 22 states have legalized for medical use in the U.S.
Europe is expected to foresee a rapid growth in the cannabis testing service market. The market in Europe is expected to gain momentum during the forecast period, owing to increasing number of players entering the U.K. cannabis testing service market by acquiring U.K-based cannabis testing laboratories. For instance, in July 2018, Sativa Investments PLC acquired PhytoVista Laboratories Ltd., a U.K-based lab that tests cannabis oils and hemp products.
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