Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Cannabis is increasingly becoming legal at a certain level for either medical or recreational use although cannabis testing world is new and still developing, however, it is an essential component of legal markets where quality control is paramount. The testing of cannabis products involves a complex analytical procedure either with gas chromatography (GC) or liquid chromatography (LC) techniques. Safety testing in other agricultural industries is regulated by the FDA, the USDA, or by other federal agencies. The few conditions that have produced safety testing guidelines for Cannabis were forced to develop them from scratch, without the regulatory and scientific support that federal agencies typically provide. Cannabis can be grown in several different environments, processed in many different ways, and utilized or ingested by multiple routes.
Growing demand for cannabis legalization in several countries for medical purposes of marijuana as there are many patients present in the ED with physical or psychological symptoms associated with dose of cannabis products. This attracts a number of investors, prominent players and government agencies to invest in developing standards for cannabis testing laboratories or to enhance their operations and activities. Also, growing number of cannabis testing laboratories in various emerging markets as these compounds have shown potential therapeutic efficacy in the treatment of pain, mood disorders, and inflammatory diseases. Since the concentration of cannabinoid potency in Cannabis can fluctuate through different stages of plant growth and plant strains, it is imperative for Cannabis cultivators ensure the identity of cannabinoids as well as consistent purity and concentration, and therefore there is increasing research on the different medical uses of cannabis.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the cannabis testing market. In addition, complete analysis of changes on the cannabis testing market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. COVID-19 impact on the cannabis testing was negative since many manufacturer were shut down or had low production however due to pandemic the production and supply chain disruption was majorly hampered.
The cannabis testing market is segmented based on by product& software, by services, by end user and by geography.
The products & software for cannabis testing in market includes analytical instruments, spectroscopy instruments and other analytical instruments. Analytical Instruments is further bifurcated to liquid chromatography and gas chromatography, Spectroscopy Instruments is sub segmented to atomic spectroscopy instruments and mass spectrometry instruments. Other analytical instruments is sub segmented to Consumables and Software. Consumable further includes columns, reference standards, sample handling products, supplies & accessories. Analytical Instruments is anticipated to grow at higher rate owing to increasing use of chromatography techniques. As chromatographic separation are the consequences of the interaction between the functional group providing fast and effective results. In addition, various manufacturers offer specialized chromatography instruments for cannabis testing. Moreover, diverse technological advances will enhance the adoption of a chromatography technique for cannabis testing, leading to high market growth in upcoming years.
The cannabis testing has major services in heavy metal testing, microbial analysis, pesticide screening, potency testing, residual solvent analysis, terpene profiling. The potency testing is expected to dominate due to increasing use in liquid chromatography with UV detectors to determine the amount of major cannabinoids. Also, growing use of CBD disease treatment is boosting the segment growth in global cannabis testing market. Moreover, increased legalization of cannabis and the subsequent increase in the demand for cannabis testing is fueling the growth.
Cannabis testing has major end user in cannabis testing laboratories, research institutes. Cannabis testing laboratories further includes large-scale laboratories, medium-scale laboratories, small-scale laboratories. Cannabis testing laboratories is expected to lead owing to increasing legitimation of cannabis for medical and recreational use which is positively emerging the cannabis testing laboratories market growth. Furthermore, stringent regulations implemented by various authorities to ensure superior quality of cannabis products and patient safety is boosting the growth of cannabis testing laboratories
Geographically the global cannabis testing market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). North America is expected to hold significant market share owing to growing legalization pertaining to the use of cannabis across various U.S. states will act as a major factor driving the cannabis testing market growth. Moreover, the region is attributed with rising number of testing laboratories and increasing cultivators of marijuana is driving the growth of cannabis testing market in region. Whereas Asia Pacific is anticipated to grow at highest pace during forecast period. In addition, increasing investment by pharmaceutical and biotechnology manufacturer and increasing cannabis testing laboratories in the region, coupled with the legalization of cannabis for medical use, is expected to drive market growth in the region.
The key players in cannabis testing market are Accelerated Technology Laboratories, Inc., Agilent Technologies, Inc., Danaher Corporation, Digipath, Inc., Merck KGaA (Sigma Aldrich), PerkinElmer Inc., Pharmlabs LLC, Restek Corporation, Shimadzu Scientific Instruments. and Steep Hill Halent Laboratories, Inc. among others.
December 2020: Cannabis Suisse Corp. had announced to work with ACS Laboratory to test its first shipment of Swiss4Life products. The testing of new product line is created and had been launched on Shopify.
August 2020: Iridium Consulting and Ionization Labs launch New Partnership. The two companies announced that they are entering a business development partnership to provide in-house potency testing solutions for cannabis companies looking to expand their R&D testing.
The report analyses the global cannabis testing market based on by product& software, by services, by end user and by geography. The products & software for cannabis testing in market includes analytical instruments, spectroscopy instruments. The cannabis testing has major services in heavy metal testing, microbial analysis, pesticide screening, potency testing, residual solvent analysis, terpene profiling. Cannabis testing has major end user in cannabis testing laboratories, research institutes. Geographically the global cannabis testing market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW)
The key players in cannabis testing market are Accelerated Technology Laboratories, Inc., Agilent Technologies, Inc., Danaher Corporation, Digipath, Inc., Merck KGaA (Sigma Aldrich), PerkinElmer Inc., Pharmlabs LLC, Restek Corporation, Shimadzu Scientific Instruments. and Steep Hill Halent Laboratories, Inc. among others.
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