Global Cannabis Testing Services Market Analysis | Coherent Market Insights

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2. CANNABIS TESTING SERVICES MARKET ANALYSIS Global Cannabis Testing Services Market,byTest Type (Potency Testing, Terpene Profiling, Cannabinoid Profiling, Pesticide Screening, Residual Solvent Testing, Microbiological Screening, and Other Tests), by End User (Cannabis Firms, Homecare Settings, and Research Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018-2026

3. The global cannabis testing service market size was valued at US$ 230.3 million in 2018, and is expected to witness a CAGR of 8.5% over the forecast period (2018 – 2026). Drive Growth • 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.

4. 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. • Key players in the market are focused on establishment of novel state-of-art cannabis testing laboratories in key regions to provide a wide range of services in cannabis testing, which is expected to drive growth of the cannabis testing service market. For instance, in April 2018, Gala Pharmaceutical, Inc. announced its plans to build its first state-of-the-art testing laboratory that will meet the new ISO requirements set by the City of Long Beach and the State of California, U.S. in accordance with the Medical Marijuana Regulation and Safety Act.

5. In December 2018, Gala Pharmaceutical California Inc., a subsidiary of Gala Pharmaceutical, Inc. received a Temporary License from the State of California to construct its flagship cannabis testing facility in Long Beach, California, U.S.

6. Global Cannabis Testing Service Market Share (%) Analysis, By Test Type, 2018

7. Market Restraints Lack of standard testing process is expected to hinder the growth of the market. There is certification challenges for infused products manufacturers, as there are no guidelines that standardize the equipment or methods testing labs use. As a result, one sample can produce different results based on the laboratory where it’s tested.

8. 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.

9. 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.

10. Global Cannabis Testing Service Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2026

11. Competitive Section 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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