The research report studies the Cannabis Testing market using different methodologies and analyses to offer accurate and in-depth information about the market. For a clearer understanding, it is allocated into several parts to cover different aspects of the market. Each area is then elaborated to help the reader comprehend the growth potential of each region and its contribution to the global market.
Increasing technological advancements is positively impacting the market growth. For instance, Avricore Health Inc. has designed genetic medication response test myCannabisPGx to ensure effective and safe use of medical cannabis.
As of now, the company has initiated its distribution across seven pharmacies in Toronto. However, the company plans to distribute the test to nearly 30 locations by 2019.
According to our latest research, the global Cannabis Testing market size is estimated to be USD 2,727.59 million in 2026 from USD 1,140.27 million in 2018. The global Cannabis Testing market size is expected to grow at a CAGR of 11.6% for the next five years.
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Cannabis Testing Market Scope and Size
The progress among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target industries.
The Cannabis Testing market is segmented on the basis of :
By Component: Devices, Services, Potency Testing, Terpene Profiling, Pesticide Screening, Residual Solvent Screening , Others, Software
By End Users: Testing Laboratories, Pharmaceutical Manufacturers, Others.
The global Cannabis Testing market report offers geographic analysis covering regions, such as North America, Europe, Asia-Pacific, and the Rest of the World. The Cannabis Testing market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa.
The researchers have used primary and secondary methodologies to collate the information in the report. They have also used the same data to generate the current market scenario. This report is aimed at guiding people towards an apprehensive, better, and clearer knowledge of the market.
What Strategies are the Key Vendors Adopting for Growing their Share in the Cannabis Testing Market?
The classification of competition in the Cannabis Testing market is collapsed and there is a presence of a large number of vendors in the market. Different companies hold competitive and ever-evolving strategies to succeed in the market and stay ahead of other industries.
The ever-rising demand inspires them to be innovative and economical to stand out from the rivalry and make themselves different from the competition.
COVID-19 Impact Analysis
- The COVID-19 pandemic had a significant impact on the on-trade segment and Industry.
- Manufacturers are understanding strategies to revive from the current situation by means of reshaping their sales channels as well as product innovation and so on.
- The duration of the virus outbreak remains a key factor in assessing the overall impact of the pandemic. However, the global Cannabis Testing industry is expected to stabilize after the 2021 year.
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Report Scope:
The global Cannabis Testing market report scope includes a detailed study covering underlying factors influencing the industry trends. The report covers a study on regional and country-wise market dynamics. The scope of the industry also covers a competitive overview providing company market shares along with company profiles for major revenue contributing firms.
The report scope includes a detailed competitive outlook covering market shares and profiles of key participants in the global Cannabis Testing market share.
Major industry vendors with significant revenue share include CloudLIMS, GenTech Scientific, Synfine Research Ltd, Agilent Technologies, Inc., CannaSafe, Demeter Laboratory, PharmWare Cannabis LIMS, Shimadzu Scientific Instruments, Merck KGaA, and WATERS.
Strong Reasons to Purchase this Custom Report:
- Comprehensive analysis of the market growth drivers, key Restraints, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures with top firms.
- Identifies market key restraints and boosters to help grow the market.
- Identifies all the possible segments present in the industry to aid organizations in strategic business planning in the future.
Table of Contents of the Report:
Chapter 3 Cannabis Testing Market Insights
3.1 Industry Segmentation
3.2 Industry Landscape, 2017 - 2029
3.3 Industry Impact Forces
3.3.1 Growth Drivers
3.3.2 Industry Drawbacks & Challenges
3.4 Growth Potential Analysis
3.4.1 By Component
3.4.2 By End User
3.5 COVID-19 Impact Analysis
3.6 Regulatory Landscape
3.7 Porter's Analysis
3.8 Competitive Landscape, 2021
3.9 PESTEL Analysis
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