According to the recent research report titled ‘Cannabis Testing Market Size By Technology, By Test Type (Potency Testing, Pesticide Screening, Residual Solvent Screening, Heavy Metal Testing, Terpene Testing, Mycotoxin Testing), By Service Provider (Laboratories, Manufacturers, Research Institutes), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report, global cannabis testing market is anticipated to accrue USD 2 billion by the year 2025.
 

Global cannabis testing market growth is driven by surging demand for cannabis legalization in various countries for medical purposes, increasing number of testing labs in several emerging economies, and growing R&D investments in the field.
 

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For the record, in March 2018, the California Bureau of Cannabis Control granted 26 provisional licenses for testing laboratories, even though the actual requirement is nearly double. Further, UJI Capital announced a USD 9 million donation to Harvard University and the Massachusetts Institute of Technology for cannabinoid research.
 

Elaborating on the negatives, hefty cost of lab equipment and lack of standardized testing standards continue to impact the remuneration scope of the industry.
 

Based on technology type, chromatography segment held 62.4% of worldwide cannabis testing industry share in 2018 and is expected to grow further owing to several benefits of chromatography techniques like ease of separation and high sensitivity.
 

With respect to test type, potency testing segment is projected to register 13.9% growth rate by the year 2025, creditable to increasing number of hemp and marijuana cultivators, coupled with growing legalization of medical use of cannabis.
 

As per service providers, laboratories segment amassed USD million in 2018 owing to surging demand for sample testing across several economies that legalized medical use of marijuana. Additionally, stringent norms to assure patient safety and product quality, along with supportive government in funding cannabis testing infrastructure for improvement are also adding to the segmental growth.
 

Regionally, U.S. held 61.2% of global cannabis testing market share in 2018 creditable to growing recognition of cannabis and hemp as medicinal ingredients and increasing legalization of cannabis cultivation in the country.
 

Meanwhile, Netherlands industry is projected to record 20.2% CAGR through 2025, attributable to several conductive regulatory norms and escalating demand for medical use of cannabis across the country.
 

Major players impacting global cannabis testing market trends are Evio Pvt. Ltd., University of Mississippi, Steep Hill Inc., CannaSafe Analytics, Anandia Labs, Anresco Laboratories, CW Analytical Laboratories, Eirlab Research Group, Digipath Inc., Phytovista Laboratories, Pure Analytics, SC Labs, Battelle Memorial Institute, and University of Alberta.