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Mar 22, 2021 (AmericaNewsHour) — The CANNABIS TESTING MARKET is thriving on account of the rising awareness amongst individuals for the benefits of maintaining a good health and the increasing need for high quality healthcare services amongst individuals. With the increasing prevalence of diseases worldwide, people are opting for products that help them to stay fit and are also investing more on healthcare services. Alternatively, pharmaceutical manufacturers, along with other healthcare companies that manufactures devices and equipment, are increasingly focusing on the research and development of advanced treatment, drugs and equipment for the diagnosis and treatment of the diseases and for developing healthcare products. Organizations are raising their R&D expenses year-on-year so as to deliver quality healthcare products in the years to come. The advancements in the healthcare sector are also supported by the governments of nations worldwide with numerous financial aids. According to a statistical report titled “Global Spending on Health: A World in Transition“, released in the year 2019 by the World Health Organization (WHO), the global spending on healthcare recorded USD 7.8 trillion in 2017, which was an increase by USD 0.2 trillion from the recorded value of USD 7.6 trillion in 2016.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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The report covers the forecast and analysis of the cannabis testing market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2027 based on revenue (USD Million). The study includes drivers and restraints of the cannabis testing market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the cannabis testing market on a global level.
In order to give the users of this report a comprehensive view of the cannabis testing market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are bench marked based on their market size, growth rate, and general attractiveness.
The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product & service launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.
The study provides a decisive view of the cannabis testing market by segmenting the market based on the product & software, method of testing, end-users, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2027. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The usage of medicinal cannabis for the purpose of reducing nausea post the chemotherapy or appetite stimulation in AIDS patients for controlling muscle spasms will propel the industry demand. In addition to this, the rise in the approval of cannabis-based medicines along with new product introduction will spur the growth of cannabis testing market during the timespan from 2019 to 2027. Apparently, the large-scale acceptance of LIMS across the cannabis testing labs will enlarge the business scope during the forecast timeline. Nevertheless, the high cost of analytical devices and high variation in the testing procedures will hinder the market progression over the forecast timeline.
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Based on the product & software, the market is sectored into products and software. The products segment is again divided into Analytical Instruments, Spectroscopy Instruments, and Consumables. Based on the method of testing, the industry is divided into Potency, Residual Solvent Screening, Heavy Metal, Pesticide Screening, Terpene Profiling, Genetic, and Microbial Analysis. In terms of end-users, the market is classified into Cannabis Testing Laboratories, Drug Manufacturers & Dispensaries, Research Institutions, and Cultivators.
The key players involved in the global cannabis testing business include Waters Corporation, Agilent Technologies, Inc., Shimadzu Corporation, PerkinElmer, Inc., GenTech Scientific, Millipore Sigma, AB SCIEX LLC, PharmLabs, LLC, CannaSys, Inc., and Cannabix Technologies, Inc.
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The post Cannabis Testing Market Demand, Share And Top Key Players During 2021 – 2027 appeared first on America News Hour.
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