Global Cannabis Testing Market Size 2021 Share, Strategies to Boost Growth, Market Dynamics, Scope, Top Key Players, Latest Trends with Covid-19 Impact till 2025

 Market Growth:

The global US Cannabis Testing Services Market is predicted to grow at a CAGR of 13.4 percent to USD 1,806 million by 2025, up from USD 962 million in 2020. The legalization of medicinal cannabis and the expanding number of cannabis testing laboratories (particularly in the United States), the growing adoption of LIMS in cannabis testing laboratories, and more awareness are all driving this market forward. The market's expansion is likely to be hampered by a lack of standardization in-laws and regulations, high costs, and insufficient employees.


Market Segmentation:

The COVID-19 pandemic's unexpected emergence has had both beneficial and harmful consequences for the pharmaceutical and life sciences industries. Low demand for instruments, consumables, and reagents, as well as supply chain interruptions and trade restrictions, have harmed specific market segments more than others.


Many US Cannabis Testing Services Market participants have seen their operations and financial performance suffer as a result of the epidemic and slowed worldwide research activity. The number of cannabis tests performed in laboratories has decreased due to the closure of academic and research institutes and testing facilities.


Market Segmentation:

The US Cannabis Testing Services Market is divided into testing laboratories, drug makers, and research organizations based on the end-user. In 2021, the testing laboratories segment had the most significant market share, and it is expected to grow at the fastest rate during the forecast period.


The cannabis testing industry is divided into testing laboratories, drug makers, and research organizations based on the end-user. In 2021, the testing laboratories segment had the most significant market share, and it is expected to grow at the fastest rate during the forecast period. Increased drug investigation services, increased medical applications of cannabis, and an increase in the number of toxicological laboratories contribute to the growth. In addition, the market for potency testing is expected to increase at a quicker rate between 2021 and 2028.


Regional Analysis:

Due to the legalization of cannabis (particularly in the United States) and the increased ease of availability of instruments, software, and services for cannabis testing, North America accounted for the most significant revenue share in 2019 and is expected to maintain its dominance in 2020 through 2027. However, due to an increase in the number of cannabis farmers, testing laboratories, and the legalization of cannabis for medical purposes, LAMEA is predicted to develop at the fastest rate.


Key Players:

Agilent Technologies Inc., Danaher Corporation, Merck KGAA, PerkinElmer, Restek Corporation, SC Laboratories, Shimadzu Corporation, Steep Hill, Thermo Fisher Scientific, and Waters Corporation are some of the major competitors in the US Cannabis Testing Services Market.

Comments

Post a Comment

Popular posts from this blog

Significance of EHealth Software And Services

Image
Before knowing the concept of EHealth software and services let’s first understand what is EHealth? EHealth is defined as the delivery of health care using modern electronic information and communication technology in which health care practitioners and patients are not in direct contact and their engagement is mediated by electronic mediums, Physical and psychological diagnosis and treatment, telepathology, vital sign monitoring, electronic prescription, teleconsultation, and other services are among those provided. Electronic health records (EHR), decision support systems, consulting, and telemedicine is all components of eHealth. Most therapeutic practices now include computers as an essential component. Now, What Is Ehealth Software And Services? EHealth Software and services are that software that handles, transmit, store, or record the information used in the delivery of healthcare treatment and keep a record of payment of a particular patient. For example, smart hospitals are u
Read more

The OKR Software Market Is Estimated To Increase At A CAGR Of 12.60 Percent During The Forecast Period

  OKR is a 1970s notion that has subsequently been a primary emphasis for companies such as Google, Linked In, Airbnb, Twitter, Dropbox, Spotify, and Uber. The OKR software market is being propelled forward by the growing trend of reducing corporation business processes. Businesses are increasingly focusing on adopting this software to increase efficiency by streamlining various firm operational processes such as human resource operations management, workforce planning, and supply chain performance (SCP) management. OKR software is used to align personnel with corporate goals and investigate the underlying causes of the company's high efficiency. The program also supports maintaining objective transparency between management and employees, as well as tracking employee efficiency on a regular basis. OKR Software Market size was valued at USD 742.29 Million in 2020 and is projected to reach USD 1,843.62 Million by 2028, growing at a CAGR of 12.60 % from 2021 to 2028. By eliminating
Read more

Broadcast Switchers Market Report | the Demand for the Market Will Drastically Increase in the Future

  The term "broadcast switcher" refers to a digital device used in video or film production. It's used to choose or switch between distinct audio or visual signals coming from various sources. Switchers play a critical role in the video transmission process and are an important component of video processing. For a completely integrated television production, switchers are essential. Routing switchers, production switchers, master control switchers, and more types of switchers exist. They can be found in remote trucks, control rooms, and editing suites, among other places. Broadcasters may easily pick and route source video feeds thanks to digital broadcasting, which improves the workflow of digital broadcasting. Customers may now enjoy high-quality video production thanks to the transition from analog to digital transmission in the broadcast sector, which is known as High Definition Television (HDTV). For example, the Federal Communications Commission (FCC), a US governme
Read more