The North America cannabis testing market accounted to US$ 470.85 Mn in 2017 and is expected to grow at a CAGR of 11.6% during the forecast period 2018 – 2025, to account to US$ 1,120.51 Mn by 2025.
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.
Lucrative Regional Markets
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Market Insights
Legalization of medical cannabis is expected to boost the market growth over the years
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.
Increasing Awareness through Conferences, Symposia, and Workshops
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.
Conferences which recently took place regionally are:
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.
Type Insights
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.
Service Insights
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.
End User Insights
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.
Cannabis Testing Market, by Type
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North America Cannabis Testing Market: Strategic Insights
Market Size Value in US$ 470.85 Million in 2017 Market Size Value by US$ 1,120.51 Million by 2025 Growth rate CAGR of 11.6% from 2018-2025 Forecast Period 2018-2025 Base Year 2018
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North America Cannabis Testing Market: Strategic Insights
| Market Size Value in | US$ 470.85 Million in 2017 |
| Market Size Value by | US$ 1,120.51 Million by 2025 |
| Growth rate | CAGR of 11.6% from 2018-2025 |
| Forecast Period | 2018-2025 |
| Base Year | 2018 |
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Strategic acquisition and product launches were observed as the most adopted strategy in North America cannabis testing industry. Few of the recent product launch and product approval are listed below:
2016: Agilent Technologies, Inc. introduced Agilent 5110 ICP-OES that allow scientists to perform faster, more precise ICP-OES analysis.
2017: SCIEX launched the X-Series Quadrupole Time of Flight (QTOF) mass spectrometry (MS) platform, X500B QTOF System.
2018: Restek and Separation Science entered into a collaboration to develop a multi-speaker eSeminar focused on testing methods and associated topics for medicinal cannabis labs.
CANNABIS TESTING – MARKET SEGMENTATION
By Type
- Products
- Software
By Service
- Potency Testing
- Terpene Profiling
- Pesticide Screening
- Residual Solvent Screening
- Heavy Metal Testing
- Microbial Analysis
By End User
- Testing Laboratories
- Drug Manufacturers
- Research Institutes
By Geography
• North America
- U.S.
- Canada
- Mexico
Company Profiles
- Agilent Technologies
- PerkinElmer, Inc.
- Shimadzu Corporation
- SCIEX
- Merck KGaA
- Restek Corporation
- Waters
- CannaSafe Analytics
- Accelerated Technology Laboratories, Inc.
- Digipath Labs.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Services, End User and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
PART 1.iNTRODUCTION
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
PART 2.North America CANNABIS TESTING Market – Key takeaways
PART 3.North America cannabis testing market – market landscape
3.1 overview
3.2 market segmentation
3.2.1 North America Cannabis Testing Market – By Type
3.2.2 North America Cannabis Testing Market – By Services
3.2.3 North America Cannabis Testing Market – By End User
3.2.4 North America Cannabis Testing Market – By Country
3.3 PEST Analysis
PART 4.North America Cannabis Testing market- Key Market Dynamics
4.1 Key Market Drivers
4.1.1 Legalization of Medical Cannabis
4.1.2 Increasing Awareness Through Conferences, Symposia, and Workshops
4.1.3 Conferences which recently took place regionally are:
4.2 Key Market Restraints
4.2.1 Stringent Regulatory Framework
4.2.2 Dearth of Trained Laboratory Professionals
4.3 Key Market Opportunities
4.3.1 Mergers & Acquisitions
4.4 future Trends
4.4.1 Advances in Cannabis Testing Equipments
4.5 Impact analysis
PART 5.Cannabis market – North America Analysis
5.1 North America CANNABIS market Revenue Forecasts and Analysis
5.2 Market positioning
5.3 PERFORMANCE OF KEY PLAYERS
5.4 expert opinions
PART 6.North America CANNABIS market Analysis – By TYPE
6.1 Overview
6.2 NORTH AMERICA CANNABIS MARKET, BY Type, 2017 & 2025 (%)
6.3 North America CANNABIS market Revenue And Forecasts to 2025, By Type (US$ Mn)
6.4 Product Market
6.4.1 Overview
6.4.2 North America Product Market Revenue and Forecasts to 2025 (US$ Mn)
6.4.3 Analytical Instruments Market
6.4.3.1 Overview
6.4.3.2 North America Analytical Instruments Market Revenue and Forecasts to 2025 (US$ Mn)
6.4.3.3 Chromatography Instruments Market
6.4.3.3.1 Overview
6.4.3.3.2 North America Chromatography Instruments Market Revenue and Forecasts to 2025 (US$ Mn)
6.4.3.3.3 Liquid Chromatography Market
6.4.3.3.3.1 Overview
6.4.3.3.3.2 North America Liquid Chromatography Market Revenue and Forecasts to 2025 (US$ Mn)
6.4.3.3.4 Gas Chromatography Market
6.4.3.3.4.1 Overview
6.4.3.3.4.2 North America Gas Chromatography Market Revenue and Forecasts to 2025 (US$ Mn)
6.4.3.4 Spectroscopy Market
6.4.3.4.1 Overview
6.4.3.4.2 North America Spectroscopy Market Revenue and Forecasts to 2025 (US$ Mn)
6.4.3.4.3 Mass Spectrometry Market
6.4.3.4.3.1 Overview
6.4.3.4.3.2 North America Mass Spectrometry Market Revenue and Forecasts to 2025 (US$ Mn)
6.4.3.4.4 Atomic Spectrometry Market
6.4.3.4.4.1 Overview
6.4.3.4.4.2 North America Atomic Spectrometry Market Revenue and Forecasts to 2025 (US$ Mn)
6.4.4 Consumables Market
6.4.4.1 Overview
6.4.4.2 North America Consumables Market Revenue and Forecasts to 2025 (US$ Mn)
6.4.4.3 Chromatography Columns Market
6.4.4.3.1 Overview
6.4.4.3.2 North America Chromatography Columns Market Revenue and Forecasts to 2025 (US$ Mn)
6.4.4.4 Standard & CRMs Market
6.4.4.4.1 Overview
6.4.4.4.2 North America Standard & CRMs Market Revenue and Forecasts to 2025 (US$ Mn)
6.4.4.5 Supplies and Accessories Market
6.4.4.5.1 Overview
6.4.4.5.2 North America Supplies and Accessories Market Revenue and Forecasts to 2025 (US$ Mn)
6.4.5 Software Market
6.4.5.1 Overview
6.4.5.2 North America Software Market Revenue and Forecasts to 2025 (US$ Mn)
PART 7.North America cannabis testing market Analysis – By Service
7.1 Overview
7.2 NORTH AMERICA CANNABIS MARKET, BY Service, 2017 & 2025 (%)
7.3 North America CANNABIS market Revenue And Forecasts to 2025, By Service (US$ Mn)
7.4 Potency Testing Market
7.4.1 Overview
7.4.1.1 North America Potency Testing Market Revenue and Forecasts to 2025 (US$ Mn)
7.5 Terpene Profiling testing Market
7.5.1 Overview
7.5.2 North America Terpene Profiling Testing Market Revenue and Forecasts to 2025 (US$ Mn)
7.6 Pesticide Screening Market
7.6.1 Overview
7.6.2 North America Pesticide Screening Market Revenue and Forecasts to 2025 (US$ Mn)
7.7 Residual Solvent testing Market
7.7.1 Overview
7.7.2 North America Residual Solvent Testing Market Revenue and Forecasts to 2025 (US$ Mn)
7.8 Heavy Metal testing Market
7.8.1 Overview
7.8.2 North America Heavy Metal Testing Market Revenue and Forecasts to 2025 (US$ Mn)
7.9 Microbial Analysis Market
7.9.1 Overview
7.9.2 North America Microbial Analysis Market Revenue and Forecasts to 2025 (US$ Mn)
7.10 Genetic Testing Market
7.10.1Overview
7.10.2 North America Genetic Testing Market Revenue and Forecasts to 2025 (US$ Mn)
PART 8.North America cannabis testing market Analysis – By End User
8.1 Overview
8.2 NORTH AMERICA CANNABIS MARKET, BY end user, 2017 & 2025 (%)
8.3 North America CANNABIS market Revenue And Forecasts to 2025, By end user (US$ Mn)
8.4 Testing laboratories Market
8.4.1 Overview
8.4.2 North America Testing Laboratories Market Revenue and Forecasts to 2025 (US$ Mn)
8.5 Drug Manufacturers Market
8.5.1 Overview
8.5.2 North America Drug Manufacturers Market Revenue and Forecasts to 2025 (US$ Mn)
8.6 Research Institutes Market
8.6.1 Overview
8.6.2 North America Research Institutes Market Revenue and Forecasts to 2025 (US$ Mn)
PART 9.North America cannabis testing market Revenue and Forecasts to 2025
9.1 Overview
9.2 North America Cannabis testing market Revenue and Forecasts to 2025 (US$ Mn)
9.3 North America Cannabis testing market revenue and forecasts, by type (US$ Mn)
9.3.1 North America Product Market Revenue And Forecasts, By Type (US$ Mn)
9.3.1.1 North America Analytical Instruments Market Revenue And Forecasts, By Type (US$ Mn)
9.3.1.1.1 North America Chromatography Market Revenue And Forecasts, By Type (US$ Mn)
9.3.1.1.2 North America Spectroscopy Market Revenue And Forecasts, By Type (US$ Mn)
9.3.1.2 North America Consumables Market Revenue And Forecasts, By Type (US$ Mn)
9.4 North America Cannabis testing market revenue and forecasts, by Service Type (US$ Mn)
9.5 North America Cannabis testing market revenue and forecasts, by end User (US$ Mn)
9.6 North America Cannabis testing market Revenue And Forecasts to 2025, By Country (%)
9.7 US Cannabis testing market Revenue and Forecasts to 2025 (US$ Mn)
9.7.1 US Cannabis testing market Revenue and Forecasts to 2025 (US$ Mn)
9.7.2 US Cannabis testing market revenue and forecasts, by Type (US$ Mn)
9.7.2.1 US Product Market Revenue And Forecasts, By Type (US$ Mn)
9.7.2.1.1 US Analytical Instruments Market Revenue And Forecasts, By Type (US$ Mn)
9.7.2.1.1.1 US Chromatography Market Revenue And Forecasts, By Type (US$ Mn)
9.7.2.1.1.2 US Spectroscopy Market Revenue And Forecasts, By Type (US$ Mn)
9.7.2.1.2 US Consumables Market Revenue And Forecasts, By Type (US$ Mn)
9.7.3 US Cannabis testing market revenue and forecasts, by Service Type (US$ Mn)
9.7.4 US Cannabis testing market revenue and forecasts, by end User (US$ Mn)
9.8 Canada Cannabis testing market Revenue and Forecasts to 2025 (US$ Mn)
9.8.1 Canada Cannabis testing market Revenue and Forecasts to 2025 (US$ Mn)
9.8.2 Canada Cannabis testing market revenue and forecasts, by Type (US$ Mn)
9.8.2.1 Canada Product Market Revenue And Forecasts, By Type (US$ Mn)
9.8.2.1.1 Canada Analytical Instruments Market Revenue And Forecasts, By Type (US$ Mn)
9.8.2.1.1.1 Canada Chromatography Market Revenue And Forecasts, By Type (US$ Mn)
9.8.2.1.1.2 Canada Spectroscopy Market Revenue And Forecasts, By Type (US$ Mn)
9.8.2.1.2 Canada Consumables Market Revenue And Forecasts, By Type (US$ Mn)
9.8.3 Canada Cannabis testing market revenue and forecasts, by Service Type (US$ Mn)
9.8.4 Canada Cannabis testing market revenue and forecasts, by end User (US$ Mn)
9.9 Mexico Cannabis testing market Revenue and Forecasts to 2025 (US$ Mn)
9.9.1 Mexico Cannabis testing market Revenue and Forecasts to 2025 (US$ Mn)
9.9.2 Mexico Cannabis testing market revenue and forecasts, by Type (US$ Mn)
9.9.2.1 Mexico Product Market Revenue And Forecasts, By Type (US$ Mn)
9.9.2.1.1 Mexico Analytical Instruments Market Revenue And Forecasts, By Type (US$ Mn)
9.9.2.1.1.1 Mexico Chromatography Market Revenue And Forecasts, By Type (US$ Mn)
9.9.2.1.1.2 Mexico Spectroscopy Market Revenue And Forecasts, By Type (US$ Mn)
9.9.2.1.2 Mexico Consumables Market Revenue And Forecasts, By Type (US$ Mn)
9.9.3 Mexico Cannabis testing market revenue and forecasts, by Service Type (US$ Mn)
9.9.4 Mexico Cannabis testing market revenue and forecasts, by end User (US$ Mn)
PART 10.Cannabis Testing Market –Industry Landscape
10.1 Overview
10.2 Growth Strategies in the Cannabis Testing Market, 2016-2018
10.3 Organic Developments
10.3.1 Overview
10.4 Organic Growth Strategies in the Cannabis Testing Market, 2016-2018
10.5 Product Launch
10.5.1 Recent Product Launch By Players In The Cannabis Testing Market
10.6 Product approval
10.6.1 Recent Product Approval By Players In The Cannabis Testing Market
10.7 Others
10.7.1 The Cannabis Testing Market By Other Growth Strategies
10.8 Inorganic developments
10.8.1 Overview
10.9 inOrganic Growth Strategies in the Cannabis Testing Market, 2016-2018
10.10 Acquisitions
10.10.1 Acquisitions By Players In The Cannabis Testing Market
10.11 Agreements
10.11.1 The Cannabis Testing Market By Agreements
10.12 Collaborations
10.12.1 Collaborations By Players In The Cannabis Testing Market
PART 11.CANNABIS Market–Key company profiles
11.1 AGILENT TECHNOLOGIES, inc.
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Financial Overview
11.1.4 Product Portfolio
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Perkin Elmer, inc.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Financial Information
11.2.4 Product Portfolio
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 SHIMADZU CORPORATION
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Financial Information
11.3.4 Product Portfolio
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Sciex (Danaher)
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Financial Overview
11.4.4 Product Portfolio
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Merck KGaA
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Financial Overview
11.5.4 Product portfolio
11.5.5 SWOT ANALYSIS
11.5.6 Key Developments
11.6 Restek Corporation
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Financial Overview
11.6.4 Product portfolio
11.6.5 SWOT ANALYSIS
11.6.6 Key Developments
11.7 WATERS
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Financial Overview
11.7.4 Product portfolio
11.7.5 SWOT ANALYSIS
11.7.6 Key Developments
11.8 CannaSafe Analytics
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Financial Overview
11.8.4 Product portfolio
11.8.5 SWOT ANALYSIS
11.8.6 Key Developments
11.9 Accelerated Technology Laboratories, Inc.
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Financial Overview
11.9.4 Product portfolio
11.9.5 SWOT ANALYSIS
11.9.6 Key Developments
11.10 Digipath Inc.
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Financial Overview
11.10.4 Product portfolio
11.10.5 SWOT ANALYSIS
11.10.6 Key Developments
PART 12.Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
12.3 Methodology
12.3.1 Coverage
12.3.2 Secondary Research
12.3.3 Primary Research
LIST OF TABLES
TABLE 1. North America CANNABIS market Revenue And Forecasts to 2025, By Type (US$ Mn)
TABLE 2. North America CANNABIS market Revenue And Forecasts to 2025, By Service (US$ Mn)
TABLE 3. North America CANNABIS market Revenue And Forecasts to 2025, By end user (US$ Mn)
TABLE 4. North America Cannabis testing market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 5. North America product market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 6. North America Analytical Instruments market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 7. North America Chromatography market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 8. North America Spectroscopy market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 9. North America Consumables market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 10. North America Cannabis testing market Revenue And Forecasts to 2025, By service type (US$ Mn)
TABLE 11. North America Cannabis testing market Revenue And Forecasts to 2025, By end user (US$ Mn)
TABLE 12. US Cannabis testing market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 13. US product market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 14. US Analytical Instruments market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 15. US Chromatography market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 16. US Spectroscopy market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 17. US Consumables market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 18. US Cannabis testing market Revenue And Forecasts to 2025, By service type (US$ Mn)
TABLE 19. US Cannabis testing market Revenue And Forecasts to 2025, By end user (US$ Mn)
TABLE 20. Canada Cannabis testing market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 21. Canada product market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 22. Canada Analytical Instruments market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 23. Canada Chromatography market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 24. Canada Spectroscopy market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 25. Canada Consumables market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 26. Canada Cannabis testing market Revenue And Forecasts to 2025, By service type (US$ Mn)
TABLE 27. Canada Cannabis testing market Revenue And Forecasts to 2025, By end user (US$ Mn)
TABLE 28. Mexico Cannabis testing market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 29. Mexico product market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 30. Mexico Analytical Instruments market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 31. Mexico Chromatography market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 32. Mexico Spectroscopy market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 33. Mexico Consumables market Revenue And Forecasts to 2025, By type (US$ Mn)
TABLE 34. Mexico Cannabis testing market Revenue And Forecasts to 2025, By service type (US$ Mn)
TABLE 35. Mexico Cannabis testing market Revenue And Forecasts to 2025, By end user (US$ Mn)
TABLE 36. Recent Product Launch in the Cannabis Testing Market
TABLE 37. Recent Product Approval and Enhancements in the Cannabis Testing Market
TABLE 38. the Cannabis Testing Market by Others Strategies
TABLE 39. Acquisitions in the Cannabis Testing Market
TABLE 40. the Cannabis Testing Market by Agreements
TABLE 41. Collaborations in the Cannabis Testing Market
TABLE 42. Glossary of Terms, CANNABIS market
LIST OF Figures
FIGURE 1. US CANNABIS TESTING market, Revenue (US$ Mn), By COuntry 2018 & 2025
FIGURE 2. north America cannabis testing Market By Type, Market Share (%), 2017
FIGURE 3. north America CANNABIS TESTING Market By services, Market Share (%), 2017
FIGURE 4. North America cannabis testing Market By end user, Market Share (%), 2017
FIGURE 5. Cannabis Testing market Segmentation
FIGURE 6. North America PEST Analysis
FIGURE 7. cannabis testing market impact analysis of drivers & Restraints
FIGURE 8. North America CANNABIS market – Revenue Forecasts and Analysis – 2017- 2025
FIGURE 9. North America CANNABIS market, By Type, 2017 & 2025 (%)
FIGURE 10. North America Product Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 11. North America Analytical Instruments Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 12. North America Chromatography Instruments Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 13. North America Liquid Chromatography Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 14. North America Gas Chromatography Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 15. North America Spectroscopy Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 16. North America Mass Spectrometry Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 17. North America Atomic Spectrometry Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 18. North America Consumables Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 19. North America Chromatography Columns Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 20. North America Standard & CRMs Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 21. North America Supplies and Accessories Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 22. North America Software Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 23. North America CANNABIS market By Service, 2017 & 2025 (%)
FIGURE 24. North America Potency Testing Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 25. North America Terpene Profiling testing Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 26. North America Pesticide Screening Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 27. North America Residual Solvent Testing Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 28. North America Heavy Metal testing Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 29. North America Microbial Analysis Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 30. North America Genetic Testing Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 31. North America CANNABIS market By end user, 2017 & 2025 (%)
FIGURE 32. North America Testing laboratories Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 33. North America drug manufacturers Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 34. North America Research Institutes Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 35. North America cannabis testing market REVENUE overview, by Country, 2017 (US$ MN)
FIGURE 36. North America Market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 37. North America Cannabis testing market Revenue And Forecasts to 2025, By Country (%)
FIGURE 38. US cannabis testing market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 39. Canada Cannabis testing market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 40. Mexico Cannabis testing market Revenue and Forecasts to 2025 (US$ Mn)
FIGURE 41. Growth Strategies in the Cannabis Testing Market, 2016-2018
FIGURE 42. Organic Growth Strategies in the Cannabis Testing Market, 2016-2018
FIGURE 43. Inorganic developments in the Cannabis Testing Market, 2016-2018
1. Agilent Technologies
2. PerkinElmer, Inc.
3. Shimadzu Corporation
4. SCIEX
5. Merck KGaA
6. Restek Corporation
7. Waters
8. CannaSafe Analytics
9. Accelerated Technology Laboratories, Inc.
10. Digipath Labs
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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