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| cannabis testing market |
The cannabis testing market comprises testing of cannabis and cannabis-infused
products for contaminants, potency analysis as well as cannabinoid profiling.
The use of medicinal cannabis has gained immense traction in recent years owing
to its therapeutic benefits. stringent regulations regarding the quality and
safety of medicinal cannabis are further necessitating cannabis
testing.Cannabis testing helps ensure product safety and quality by identifying
residual solvents, microbes, heavy metals and pesticides. Cannabis testing also
determines the cannabinoid and terpene content of products to guarantee
consistency in potency.
The global cannabis testing market is estimated to be
valued at US$ 1.99 Mn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the cannabis testing market are Westrock Company,
Keystone Folding Box Co, Cardinal Health Inc, Omnicell Inc., Jones Healthcare
Group, Drug Package LLC, Manrex Limited, Medicine-on-time LLC, and Rx Systems
Inc. These players are focusing on facilitating rapid and accurate testing to
address the evolving regulatory standards and consumer demand for product
safety and potency.
The legalization of cannabis in several countries and states has opened
lucrative opportunities for Global
Cannabis Testing Market Size players. In particular, markets like
Canada and certain U.S. states that have legalized recreational marijuana are
ripe for testing service providers looking to establish themselves. Moreover,
the authorization of cannabis-based drugs for medical indications like chronic
pain and epilepsy is also creating a favorable environment.
Major players are expanding globally to tap the opportunities arising from the
cannabidiol (CBD) market and medical cannabis demand. Players like Westrock
Company and Keystone Folding Box Co have commenced operations across Europe and
Latin America in addition to their domestic markets. Partnerships with local
players help gain regulatory approvals and market share in foreign markets.
Market Drivers
Growing medicinal applications of cannabis: The clinical evidence demonstrating
the therapeutic potential of cannabis in reducing chronic pain, epilepsy,
mental health issues and more has increased the demand for high-quality
standardized cannabis products. This is generating the need for stringent
testing.
Evolving regulatory frameworks: Most jurisdictions where cannabis is legalized
for medical or recreational use have established detailed testing and labeling
requirements. Non-compliance can attract penalties, driving participants to
adopt robust testing measures.
Market Restraints
Limitations of certain testing methods: Though techniques like chromatography
are reliable, challenges like cost, need for special equipment and skilled
personnel are hindering widespread adoption in parts of the developing world.
Availability of low-cost alternatives: In the absence of regulations or with
lax norms, some suppliers may resort to lower cost but compromised quality
testing options or ignore testing altogether to reduce expenses. This poses
risks.
Segment Analysis
The cannabis testing market can be segmented by products and services,
technology, and end use. Within products and services, the analytical testing
segment presently holds the largest market share and is expected to dominate the
testing market during the forecast period. This is attributed to the increase
in demand for cannabis testing services across the globe due to stringent
regulations imposed by governments regarding quality assurance and safety of
cannabis products before sale. Based on technology, chromatography-based
testing is the major segment wherein high-performance liquid chromatography
(HPLC) currently leads and is predicted to retain its position during the
estimation period. This growth is due to the extensive use of HPLC in cannabis
testing as it allows the detection of chemicals and contaminants precisely. In
terms of end use, the cannabis drug manufacturers segment rules the market on
account of rigorous compliance with quality control measures and safety standards
mandated by regulatory bodies for cannabis-containing formulations and drugs.
Global Analysis
Regionally, North America presently holds the highest share in the cannabis
testing market and is estimated to experience the fastest growth over
2024-2031. The key factors behind the region's prominence include the
legalization of medical and recreational marijuana in major economies like the
US and Canada, along with the enactment of strict guidelines for cannabis
testing. Within North America, the US is leading the cannabis testing services
demand due to the commercialization of marijuana across several US states.
Besides North America, Europe and Latin America are projected to witness
substantial increases in their respective market sizes during the forecast
period. The growth rendering aspects in Europe involve rising medical marijuana
consumption and supportive government initiatives regarding cannabis research
activities. In Latin America, expanding cannabis cultivation and the evolving
regulatory framework will catalyze the regional market expansion.
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Testing Market