In the report the cannabis testing market, the market is expected to reach US$ 2,486.7 Mn in 2025 from US$ 1,028.2 in 2017

Tuesday, March 5, 2019 General News
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NEW YORK, March 5, 2019 /PRNewswire/ -- In the report the cannabis testing market, the market is expected to reach

US$ 2,486.7 Mn in 2025 from US$ 1,028.2 in 2017. The market is estimated to grow with a CAGR of 11.9% from 2017-2025.

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The cannabis

testing market is driven by the driving factor such as increasing awareness through conferences, symposia, & workshops, legalization of medical cannabis and growing adoption of LIMS in cannabis testing laboratories.However, the market is likely face the restraining factors such as risks related to stringent regulatory framework for cannabis and dearth of trained laboratory professionals.The future trend that is likely to drive the market growth with advances in cannabis testing equipment.The cannabis testing market as per the type segment is segmented as product and software. The market of product segment has the highest market share in 2017, contributing to cannabis testing market is of 73.7% and is expected to retain its dominance during the forecast period from 2017 to 2025. The product segment is further bifurcated into analytical instruments and consumables. Among the product segment, the analytical instruments segment is likely to hold the major market in the forecast period.The services segment of the cannabis testing market includes potency testing, terpene profiling testing, pesticide screening, residual solvent testing, heavy metal testing, microbial analysis and genetic testing. The potency testing segment for the cannabis testing market was valued at US$ 303.39 Mn in 2017 and is estimated to reach US$ 792.26 Mn by 2025. The potency testing segment and is expected to be the largest and fastest growing segment in the forecast period.Some of the major primary and secondary sources included in the report cannabis testing market are Cancer Association of South Africa, Central for Drug Evaluation, Defense Advanced Research Projects Agency, German Research Foundation, European Research Area, Indian Institutes of Technology, Japan Society for the Promotion of Science, National Center for Biotechnology Information, National Centre for Biological Sciences, National Institutes of Health, National Science Foundation and among others.

Reasons to BuySave and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the cannabis testing market.Highlights key business priorities in order to assist companies to realign their business strategies.The key findings and recommendations highlight crucial progressive industry trends in the global cannabis testing market, thereby allowing players across the value chain to develop effective long-term strategies.Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution

Read the full report:

About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

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