Published Date : 11 Apr 2023
The total size of the cannabis testing services market was USD 1.97 billion in 2022, and it will hit USD 5.42 billion by 2032, advancing at a rate of 10.65 % by the end of this decade.
The cannabis testing services market's growth is driven by the increasing legalization of marijuana use for medical purposes, and cannabis cultivation in various geographical areas has led to an increase in the number of cannabis testing services offered globally.
The cannabis plant is subjected to several contaminants during its growing process, most notably pesticides, fungi, molds, and heavy metals from the soil. Consumers may suffer serious fatalities and respiratory illnesses as a result of these contaminants, which are unfit for human consumption. For analyzing plant samples, numerous governing organizations have begun to set maximum quantity limits for residual solvents, insecticides, pesticides, heavy metals, microbes, and mycotoxins.
The establishment of numerous new laboratories was another outcome, especially in areas where cultivation is flourishing. Cannabis testing is the process of analyzing a specific cannabis sample to find out its THC, CBD, and terpene content, as well as any contaminants or impurities like mold, disease, bugs, or pesticide remnants.
The use of potency testing methods, such as high-performance liquid chromatography, gas chromatography, cannabinoids, and tetrahydrocannabinol (THC) in both cultivated and recreational cannabis, has increased significantly. This is one of the main drivers of the cannabis testing service market's growth. Market dominance was held by the cannabis and grower sectors.
The industry for cannabis testing is primarily driven by the growing legalization of cannabis, the increase in demand for cannabis products, and the need for quality assurance. The legalization of marijuana has contributed significantly to the growth of the cannabis testing industry.
Cannabis Testing Services Report Coverage Market Report Scope:
|Market Size in 2022||USD 1.97 Billion|
|Projected Forecast Value in 2032||USD 5.42 Billion|
|Growth Rate||10.65% from 2023 to 2032|
|Largest Market||North America|
|Forecast Period||2023 to 2032|
|By Testing Type||
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
Throughout the entire forecast period, North America is anticipated to control the market as a whole. The high prevalence of chronic diseases in the area, favorable legislation, and the presence of big businesses are all contributing factors to the market's development.
The biggest market in North America is the United States, closely followed by Canada. As more states have legalized cannabis for both medicinal and recreational purposes in recent years, cannabis testing services have grown in significance in the US. Over 90,000 Canadians over 40 years of age currently have Parkinson's disease, according to a government of Canada piece published in April 2022. One of the first nations to legalize the cultivation and use of cannabis was Canada.
The expansion of the market is also expected to be fueled by partnerships between important businesses and an increase in research efforts. The US is expected to hold the largest share of this market due to its generous healthcare policies and sizable patient population.
On the other hand, according to forecasts, Europe will be the most profitable continent for cannabis testing businesses. As more nations legalize cannabis products and as more people learn about its therapeutic benefits and positive effects on their health, the market is anticipated to grow. The rising legalization of cannabis in major European nations and the growing use of the plant in drug development and research are two major factors that are anticipated to drive the market for cannabis testing services. Additionally, The region's cannabis market is rigorously regulated because most nations have outlawed products with THC concentrations above a certain level.
Drugs derived from cannabis are receiving more approvals
During the projected period, rising cannabis-based medication approvals are anticipated to drive market expansion. Several market participants, including Merck KGaA, Shimadzu Corporation, and PerkinElmer, offer goods and software to the cannabis testing sector.
For instance, the world leader in science and development, GW Pharmaceuticals plc, and its U.S. subsidiary, Greenwich Biosciences, Inc., announced that the U.S. Food and Drug Administration (FDA) will approve EPIDIOLEX (cannabidiol) oral solution to treat seizures associated with tuberous sclerosis complex (TSC) in patients one year of age and older in August 2020.
Unstandardized testing methods
The lack of standardized testing procedures is one important factor limiting the growth of the global market for cannabis testing services during the forecast period. As the demand for safe cannabis products rises, facilities for quality control testing of cannabis are needed. Nevertheless, a few items don't meet the requirements. For manufacturers of infused goods, certification issues exist because several norms and regulations outline the standardization process of the equipment.
Authorities are working harder to ensure that cannabis products are of high quality
Since the legalization of medical marijuana and other CBD products, governments have been regulating the testing of cannabis products in light of public health concerns, which is anticipated to fuel market expansion for cannabis testing services. Testing can help identify the product's potency as well as any contaminants or potentially dangerous substances.
Cannabis is a complex plant with many active ingredients and depending on the strain and growing environment, these active ingredients' effects can vary greatly. Concerned about the safety of cannabis products, particularly in light of the potential health hazards connected with their use, the UK's Medicines and Healthcare Products Regulatory Agency (MHRA) has released guidelines for the testing before the distribution of CBD products.
The prohibitive cost of establishing a cannabis testing laboratory
It can be expensive to set up a cannabis testing facility, and there may be continuing expenses for staffing and equipment upkeep. To ensure the accuracy and dependability of test results, quality control procedures, and staff training are also included in the sizeable investment required to establish cannabis testing facilities. Professionals who provide cannabis testing services earn high salaries due to the high demand and required skills.
Cannabis testing facilities are exposed to serious liability issues, and insurance is expensive. Furthermore, test labs require cutting-edge equipment like inductively coupled plasma mass spectrometry, gas chromatography-mass spectrometry, and high-performance liquid chromatography (HPLC) (ICP-MS). The cost of purchasing, maintaining, and calibrating these instruments is high.
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