Authored By: Sarah
15 Jul 2024

Billion-Dollar Cannabis Testing Market to record growth at a CAGR of 13.06 % through 2023-2027

The Cannabis Testing Market is expected to grow at a compound annual growth rate (CAGR) of 13.06% between 2022 and 2027, adding USD 1.50 billion to the market size.

Leading producers of equipments for Cannabis Testing Market  include names like AB SCIEX LLC, Agilent Technologies Inc., Cannalysis, CannaSafe Analytics, Digipath Inc., Merck KGaA, PerkinElmer Inc., Shimadzu Corp., Thermo Fisher Scientific Inc., and Waters Corp that comes with wide range of offerings.

Cannabis Testing Market Segmentation 

Cannabis Testing Market, divided into Product Categories: Software, Instruments, and Consumables. By end-user, which includes producers of cannabis-derived pharmaceuticals, cultivators and growers, and others, it further divides the industry. The research also offers geographic segmentation, with coverage of the Rest of the World (ROW), Europe, Asia, and North America.

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Snapshot of Cannabis Testing Market Analysis

When it comes to the trending segment of the Cannabis Testing Market consumables segment will generate highest revenue during the forecast period.

Sigma-Aldrich, a division of Merck, is the biggest provider of consumables to the international market for cannabis testing. A large selection of consumables for mass spectrometer and chromatography system testing are available from the provider.

Topography wise speaking, North America is expected to contribute 50% of the growth of the global market. The growing popularity of cannabis-based goods is one of the main factors propelling the cannabis testing market's growth in North America. It is anticipated that the industry will continue to expand as more rules and regulations pertaining to the use of cannabis for medical purposes become available,over the course of the projected period

In-depth research of the imarket's revenue projections, along with a look at the major players, market drivers, and development prospects, are all included in Technavio's latest report. Learn more about the market dynamics and the aspects that our report's in-depth analysis predicts will have the biggest impact on the market under review.

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