DUBLIN–(BUSINESS WIRE)–The “Cannabis Testing Services Market Research Report by Type (Heavy Metal Testing, Microscopy Testing, and Pesticide Screening), End-user, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) – Global Forecast to 2027 – Cumulative Impact of COVID-19” report has been added to ResearchAndMarkets.com’s offering.
The Global Cannabis Testing Services Market size was estimated at USD 373.58 million in 2021, USD 439.16 million in 2022, and is projected to grow at a CAGR 17.73% to reach USD 994.88 million by 2027.
In this report, the years 2019 and 2020 are considered as historical years, 2021 as the base year, 2022 as the estimated year, and years from 2023 to 2027 are considered as the forecast period.
Cumulative Impact of COVID-19:
The report delivers insights on COVID-19 considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. The updated study provides insights, analysis, estimations, and forecasts, considering the COVID-19 impact on the market.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Cannabis Testing Services Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others.
Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
Market Segmentation & Coverage:
This research report categorizes the Cannabis Testing Services to forecast the revenues and analyze the trends in each of the following sub-markets:
- Based on Type, the market was studied across Heavy Metal Testing, Microscopy Testing, Pesticide Screening, Potency Testing, Residual Solvent Screening, and Terpene Profiling.
- Based on End-user, the market was studied across Cannabis Cultivators/Growers, Cannabis Drug Manufacturers, and Others (Research Institutes & Labs).
- Based on Region, the market was studied across Americas, Asia-Pacific, and Europe, Middle East & Africa.
Market Dynamics
Drivers
- Need for standardization in medical cannabis testing
- Increasing legalization of medical cannabis across regions for easy access to patients
- Evolving adoption of LIMS in cannabis testing laboratories for medical cannabis & marijuana
Restraints
- High initial cost of investment in analytical instruments
- Opportunities
- Emergence of large pharma companies in the cannabis market space
- Growing cannabis testing lab with the latest technology
- Challenges
- Lack of skilled and trained laboratory professionals
Cumulative Impact of COVID-19
Companies Mentioned
- Agilent Technologies, Inc.
- Agricor Laboratories
- Autoscribe Informatics, Inc.
- CW Analytical Laboratories
- Digipath Inc.
- Eurofins Scientific
- EVIO Inc.
- Hamilton Company
- Merck & Co., Inc.
- PerkinElmer, Inc.
- PharmLabs LLC
- ProVerde Laboratories, Inc.
- Restek Corporation
- Saskatchewan Research Council
- SC Labs
- SGS SA
- Shimadzu Corporation
- Steep Hill Inc.
- Thermo Fisher Scientific, Inc.
- Waters Corporation
For more information about this report visit https://www.researchandmarkets.com/r/cm32h9
