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Sep 25, 2020 (Market Insight Reports) — The Cannabis Testing Market Perspective, Comprehensive Analysis along with Major Segments and Forecast, 2020-2026. The Cannabis Testing market report is a valuable source of data for business strategists. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). The report explores the current outlook in global and key regions from the perspective of players, countries, product types, and end industries. This Cannabis Testing Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
Top Companies in the Global Cannabis Testing Market
Agilent Technologies, Inc. (NYSE: A), Shimadzu Corporation, PerkinElmer, Inc. (NYSE: PKI), Millipore Sigma, AB SCIEX LLC, Waters Corporation (NYSE: WAT), Restek Corporation, Accelerated Technology Laboratories, LabLynx, among others.
The global Cannabis Testing Market to grow with a CAGR of +12.5% over the forecast period of 2021-2026.
Market Overview:
Cannabis testing defines various drug test methods for the usage of cannabis in medical prescription, sports medicine, and law. The rapidly increasing applications of cannabis (marijuana) in mainstream medicine such as pain management is poised to increase demand for cannabis testing measures.
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The increasing use of cannabis for medical purposes is one of the major factors driving the global cannabis testing market. Cannabis used for medicinal purposes is referred to as medical marijuana or medical cannabis. In this case, the whole, unprocessed cannabis plant or its extracts are used to treat a variety of symptoms and conditions. Medical cannabis contains many compounds that are collectively referred to as cannabinoids. The two main compounds are tetrahydrocannabinol (THC) and Cannabidiol (CBD). Though there are several other types of cannabinoids in cannabis strains, THC and CBD are the most abundant compounds. These compounds mainly address pain symptoms in multiple diseases.
Market Insights:
The major drawback of this market is the lack of uniform industry standards across the globe. Regulatory standards of various countries required for cannabis testing have huge differences as these standards are set by the government organizations of the specific country. Every country also has its standards for dosage. Also, exposure to heavy metals such as lead is a big concern. This is the main root of the problem. Strict regulations will prove to be unfair if they sell prescribed drugs and alcohol products. Therefore, many pharmaceutical dealers have decided to obey these laws which would contain extracts that would practically obey any cannabis testing standards.
The Americas accounted for the maximum share of the cannabis testing market in 2017. Our analysts have predicted that the market will witness steady growth in this region during the next five years as well and this will attribute to the growing approval of cannabis for recreational and medical purposes. Moreover, the demand for cannabis testing products from luxury cannabis products manufacturers will also drive the market growth in this region.
North America is expected to dominate the overall market, throughout the forecast period. The market growth is due to factors such as the high prevalence of chronic diseases in the region, established healthcare infrastructure are some of the key factors accountable for its large share in the market. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase the market growth. In this region the United States has the maximum share due to supportive healthcare policies, the high number of patients, and a developed healthcare market.
The Cannabis Testing market can be divided based on product types and its sub-type, major applications and Third Party usage area, and important regions.
This report segments the global Cannabis Testing Market based on Types are:
Terpene Profiling Testing
Heavy Metal Testing
Microbial Analysis Testing
Genetic Testing
Residual Solvent Screening Testing
Potency Testing
Pesticide Screening Testing
Based on Application, the Global Cannabis Testing Market is Segmented into:
Laboratories
Research Institutions
Others
The report has 150 tables and figures browse the report description and TOC
https://www.marketinsightsreports.com/reports/07302191013/global-cannabis-testing-market-size-status-and-forecast-2020-2026?Mode=46&Source=MW
Regions Are covered By Cannabis Testing Market Report 2020 To 2026.
North America, Europe, China, Japan, Southeast Asia, India.
North America (USA, Canada, and Mexico).
Europe (Germany, France, UK, Russia, and Italy).
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia).
Significant Features that are under Offering and Key Highlights of the Reports:
-Detailed overview of the Cannabis Testing Market
-Changing Cannabis Testing market dynamics of the industry
-In-depth market segmentation by Type, Application, etc.
-Historical, current, and projected Cannabis Testing market size in terms of volume and value
Recent industry trends and developments
-Competitive landscape of the Cannabis Testing Market
-Strategies of key players and product offerings
-Potential and niche segments/regions exhibiting promising growth.
Frequently Asked Questions about Cannabis Testing market:
– What are the recent developments and government policies?
– Why might we forecast a downturn in a particular economy next year?
– Why do we say the currency is set to appreciate?
– What countries and sectors offer the highest potential?
– Where are the greatest dangers?
Online Features and Accessibility
The Industrial Outlook Report is an online product, which gives you dynamic features not available in printed materials, including access from any internet location and quarterly updates (if subscribed to). Also, market statistics are now available as easily downloaded graphs and CSVs, which allow the data to be used to best serve your specific needs.
How do we provide a well-qualified forecast?
Our forecast model uses detail captured in our database, which includes future spending events and summarizes them to form a bird’s eye view of the market. Our modeling captures total demand/supply for the market, using historical and future projects intelligence, including statistical modeling of leading economic indicators.
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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