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U.S. Cannabis Testing Market 2020 growth factors, latest trend and regional analysis of leading players by 2026

Author : Ronak Bora | Published Date : 2020-09-07 

U.S. Cannabis Testing Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

The growing demand for medical cannabis for the treatment of various ailments has led to the growth of U.S. cannabis testing market. This rise in demand has further resulted in implementation of strict government policies for testing of cannabis to be used in medicinal products, thereby propelling the industry outlook.

Moreover, increasing number of applications for medical cannabis in the medical marijuana industry to treat ailments such as chronic pain and epilepsy will likely bring forth a stimulating period of growth for the medical cannabis testing market during the projected time span.

Furthermore, various research institutes are actively focusing on exploring novel applications of cannabis. To that end, increasing investment in R&D activities is likely to further increase the cannabis testing market over the forthcoming years.

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The increasing discovery of the medicinal benefits offered by marijuana have driven the demand for legalization, and several states across U.S. have subsequently legalized the usage of the product for treating specific medical conditions. The legalization is further anticipated to increase the need for laboratories to test safety and potency, thereby driving the industry growth.

In addition, awareness for medical benefits of marijuana is likely to increase the number of users, establishing the need of safety standards for the product. The above factors will assist in expansion of the U.S. cannabis testing market during the projected time period.

Companies like SC Labs, Digipath, EVIO, Steadfast Labs, Alliance Analytical Laboratories, Steep Hill and PSI Labs are some of the notable industry players. Most of the prominent players are focusing on partnerships and new service offerings so as to increase their operations and customer base. 

Based on GMI, estimates, the U.S. cannabis testing market size is set to surpass $1.2 billion by 2026.

The U.S. cannabis testing market, based on technology is divided into spectroscopy and chromatography. The chromatography segment is further categorized into gas, liquid chromatography and others.

Among these, the chromatography segment is expected to lead the market outlook throughout the projected time period. The segment held a market share of nearly 63% in 2019 and is projected to record a substantial growth rate. The growth can also be ascribed to various advantages of chromatography testing like accurate and fast results.

Meanwhile, manufacturers are introducing innovative techniques related to chromatography especially for the cannabis testing market. Several technological advancements like these are likely to increase the adoption of chromatography for testing of cannabis, thereby, positively influencing segment growth in the upcoming years.

Moreover, stringent rules by authorities to safeguard product quality and safety of consumer will further increase the market growth for cannabis testing laboratories.

The region of Mountain States was valued at over $167.4 million back in 2019 and will foresee a significant growth. This could be ascribed due to the presence of states like Colorado, Nevada and New Mexico in the region, where the usage of cannabis for therapeutic drug has been given approval.

Furthermore, the legalization of marijuana has further driven the market growth of medical marijuana and thereby has encouraged the cannabis testing market. These factors have led an impact to the zonal market growth. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/us-cannabis-testing-market

Partial Chapter of the Table of Content 

Chapter 4. U.S. Cannabis Testing Market, By Technology

4.1. Key segment trends

4.2. Chromatography

4.2.1. Market size, by zones, 2015-2026 (USD Million)

4.2.2. Liquid chromatography Market size, by zones, 2015-2026 (USD Million)

4.2.3. Gas chromatography Market size, by zones, 2015-2026 (USD Million)

4.2.4. Others Market size, by zones, 2015-2026 (USD Million)

4.3. Spectroscopy

4.3.1. Market size, by zones, 2015-2026 (USD Million)

4.3.2. Mass spectrometry Market size, by zones, 2015-2026 (USD Million)

4.3.3. Atomic spectroscopy Market size, by zones, 2015-2026 (USD Million)

4.4. Others

4.4.1. Market size, by zones, 2015-2026 (USD Million)

Chapter 5. U.S. Cannabis Testing Market, By Test Type

5.1. Key segment trends

5.2. Potency testing

5.2.1. Market size, by zones, 2015-2026 (USD Million)

5.3. Pesticide screening

5.3.1. Market size, by zones, 2015-2026 (USD Million)

5.4. Residual solvent screening

5.4.1. Market size, by zones, 2015-2026 (USD Million)

5.5. Heavy metal testing

5.5.1. Market size, by zones, 2015-2026 (USD Million)

5.6. Terpene testing

5.6.1. Market size, by zones, 2015-2026 (USD Million)

5.7. Mycotoxin testing

5.7.1. Market size, by zones, 2015-2026 (USD Million)

5.8. Others

5.8.1. Market size, by zones, 2015-2026 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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