The Asia Pacific cannabis testing market is expected to grow at highest rate during the forecast period owing large population countries such as China and India, increasing number of accidents with cannabis intoxication, adoption of trends from western regions in terms of legalization of medical and recreational use of cannabis are expected to fuel the market growth in Asia Pacific region.
The United States is anticipated to be the main driving force of growth of use of medical cannabis. 30 states of the United States of America have legalized the use of cannabis. These 30 states comprise of 60% of total population and have approved the use of medical marijuana. This has become the driving force for the growth of cannabis testing marked in the entire North America region. Currently more than 8000 active licenses for cannabis businesses in USA. It is the only country with such numbers of market players.
Several countries across the region are strongly considering to end regulation and prohibition for using marijuana for adults. The steady growth of public support around the region will likely convert into major state-level success for marijuana policy reform. Many campaigns are organizing to support the legalizing marijuana by the government in Illinois, Minnesota, New Hampshire New Jersey, New York and many other states of the United States. In addition, according to the NORML and the NORML Foundation, in the 2018 midterm election, the Proposal 1 to legalize marijuana in Michigan was approved by the voters and Michigan became the first Midwestern state to legalized recreational marijuana. Moreover, Michigan became the 10th state that allows possessing the drug in small amounts for recreational use for adults. Moreover, in 2001, Canada legalized medical cannabis use and cultivation and in July 2018, legalized marijuana for adult-use in the country.
Thus, due to the growing legalization of cannabis, the cannabis testing market is expected to grow at a rapid pace during the forecast period.
The medical use of cannabis has witnessed a significant changes in this decade as many government have legalized use of cannabis. The governments of various states have attempted to spread the use of cannabis in medical industry. Due to this, various government institution have initiated the process of legalizing the use of medical cannabis and have started to place a legal framework to practice. These rapid changes in the industry have enabled medical experts and professionals to organize events and spread the use of medical cannabis.
Currently, medical cannabis conferences have been taking places in various parts of the world. In US, conferences symposium and seminars take place at various states to acquaint its citizens and authorities with the use of medical marijuana and legal framework related to it.
World Medical Cannabis Conference and Expo (April 2018), is one of the most popular conference in USA with participants across the world. This is the largest cannabis symposium in the world which brings all business stakeholder together. It involves over 3000 guests and 150 exhibitors.
CannaCon, is first ever symposium that features legal sale of cannabis for business purposes. The expo provide a platform for guest to get access to knowledge from business experts with over 12000 guests.
U.S Cannabis Conference and Expo, this conference involves high profile discussion, presentation and will educate entrepreneur to boost the development and evolution of medical cannabis industry.
Thus, owing to rising number of conferences, expo and other awareness programs, the cannabis testing market is expected to witness rapid growth in the region.
The cannabis testing market by type is segmented into products and software. In 2017, the products segment held a largest market share of 73.7% of the cannabis testing market, by type. This segment is also expected to dominate the market in 2025 owing to increasing use of the consumables as well as capital equipment for cannabis tests. Moreover, the software segment is anticipated to witness the significant growth rate of 10.9% during the forecast period, 2018 to 2025 owing to several advantages offered by automated workflow solutions to ease the cannabis testing procedures and maintain the results.
The North America cannabis testing market on the basis of service is segmented into potency testing, microbial analysis, residual solvent screening, heavy metal testing, pesticide screening, terpene profiling, and genetic testing. The potency testing segment is anticipated to grow at a CAGR of 12.7% during the forecast period. Depending on the state in which testing occurs, a sample’s THC and CBD levels, along with its tetrahydrocannabinolic and cannabidolic acids are required. Other labs may opt to test samples for their CBC and CBG as well. Testing for potency involves gas or liquid chromatography for a range of matrices.
The North America cannabis testing market on the basis of end user is segmented into potency testing, microbial analysis, residual solvent screening, heavy metal testing, pesticide screening, terpene profiling, and genetic testing. In 2017, testing laboratories segment held the largest share of the market, by end user, and is expected to grow at the fastest rate during the coming years owing to the increasing number of diagnostic testing performed in the reference labs for the numerous diseases.
| Report Attribute | Details |
|---|---|
| Market size in 2017 | US$ 470.85 Million |
| Market Size by 2025 | US$ 1,120.51 Million |
| Global CAGR (2018 - 2025) | 11.6% |
| Historical Data | 2015-2016 |
| Forecast period | 2018-2025 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |