Cannabis Testing Market valued at $1.1 billion in 2021 and is anticipated to grow at a CAGR of 14% by 2026

Cannabis Testing Market 2021Astonishing growth in Cannabis Testing Market is expected to reach US$ 1,696.3 million by 2027, growing at an estimated CAGR of 14.4% over the forecast periodThe potency level and the potential of abuse of marijuana makes its use difficult even for medicinal purposes.

After the declaration of marijuana as a “Schedule 1’ drug by the United States Drug Enforcement Administration, the transportation and handling of cannabis has been difficult.

With the effort of many organizations who see the actual potential of recreated marijuana in medicinal applications, countries are now legalizing marijuana partially or fully.

This has created a path of growth for many pharmaceutical companies in the region.

For instance, The Aurora Cannabis, one of Canada’s largest licensed cannabis producers have recently signed a medical cannabis supply deal with Mexican pharmaceutical company Farmacias Magistrales.

This exclusive strategic partnership makes the Mexican based pharmaceutical company country’s first cannabis import license following that development.

Global Medical Cannabis Market Research Report: By Product form (Powders, Solids, Ointments and creams, Oil, Others), By Derivative (Cannabidiol, Tetrahydrocannabinol), By Application (Arthritis, Cancer, Alzheimer’s Disease, Others) and By Distribution Channel (Retail pharmacy, Online stores, Others) – Forecast to 2027 Medical Cannabis Market HighlightsAccording to Market Research Future (MRFR), the global medical cannabis market is estimated to procure a market value of USD 52.35 billion while thriving at a CAGR of 15.4% by 2025.The increasing legalization of the hemp plant in various countries for medicinal purposes is projected to provide lucrative opportunities to pharmaceutical companies, which may strengthen the global market.

The ability of the herbal plant to provide relief from chronic pain, vomiting, and sleep difficulties can accelerate the demand for medical marijuana, which may boost the industry in the coming period.

Furthermore, the growing usage of cannabis to prevent cancer is likely to surge the demand for herbal leaves that can fuel the trade in the coming period.On the other hand, the increasing usage of weed as recreational cannabis can lead to adverse human health, which is anticipated to hinder the market growth.

However, the capability of cannabis to fight depression is likely to counter the impeding factor that can underpin global trade.Request Free Sample Copy at:https://www.marketresearchfuture.com/sample_request/8368Market Segmentation The segmental analysis of the global medical cannabis market is done by application, end-user, derivative, and product form.The application-based segments of the global medical cannabis market are arthritis, cancer, Alzheimer’s disease, schizophrenia, and others.

Among all segments, the Alzheimer’s disease segment is anticipated to acquire the largest market share during the forecast period.The end-user based segments of the global medical cannabis market are retail pharmacy, online stores, and others.

Among all segments, the retail pharmacy segment is expected to acquire the largest market share during the review period.The derivative-based segments of the global medical cannabis market are cannabidiol (CBD) and tetrahydrocannabinol (THC).

This helps to identify the applications of cannabis for several medical purposes.

This is expected to drive the global cannabis testing market during the forecast period.Request Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=23792The global cannabis testing market is broadly divided into two that is  test type and end-user.

The  regional outlook, competitive landscape and key segments of the cannabis testing market  will help readers frame a better analysis on pivotal aspects of the market during the forecast period 2018- 2026.Request COVID Analysis on Cannabis Testing Market –  https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19_id=23792Global Cannabis Testing Market: Market Potential and Key TrendsCannabis was ill-famous for its habit forming and intoxicating nature.

However, with increasing research and development chances of revoking of ban on cannabis are high in these countries.

This will open a lucrative avenue for the growth of the cannabis testing market in future.Request Customization on Cannabis Testing Market Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR_id=23792Global Cannabis Testing Market: Geographical OutlookGeographically, the global cannabis testing market can be segmented based into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Among all of them, North America is expected to dominate the global cannabis testing market in the forecast years.

According to the new market research report "Cannabis Testing Market by Product & Software (LC, GC, Spectroscopy (MS, Atomic), Column, Standards, Accessories, LIMS), Service (Potency, Pesticides, Heavy Metal, Genetic Testing), End User (Lab, Pharmaceutical, Research) - Global Forecast to 2021", published by MarketsandMarkets™, the overall cannabis testing market expected to reach USD 1,416.3 million by 2021 from USD 822.0 million in 2016, at a CAGR of 11.5% of during the forecast period (2016-2021).

Don’t miss out on business opportunities in Cannabis Testing Market SizeOwing to various social and political factors, cannabis has been banned in most countries since the early 1900s.

At present, many countries are increasingly recognizing the benefits of cannabis for medicinal purposes and are hence approving its use.Legalization fo medical cannabis coupled with the growing number of cannabis testing laboratoriesMedical cannabis is proven to be effective in various medical applications, such as reducing nausea caused due to chemotherapy, stimulating appetite in AIDS patients, controlling muscular spasms in multiple sclerosis patients, and reducing intraocular pressure in patients with glaucoma.

Owing to these potential health benefits, governments in various countries are legalizing the use of medical cannabis.

Countries including Australia (2016), Canada (2015), North Korea, Spain, Portugal (2001), the U.K. (2006), Germany (awaiting approval by the end of 2017), Italy, the Netherlands, Israel, and Brazil have legalized the use of medical cannabis in recent years.

Moreover, in the U.S., 25 states have legalized medical cannabis; four states Colorado, Washington, Oregon, and Alaska—have legalized cannabis for both medical and recreational use.Browse and in-depth TOC on " Cannabis Testing Market " 160  - Tables49  - Figures203 - PagesTo know about the assumptions considered for the study, download the pdf brochureThe following are the major objectives of the study : Cannabis Testing MarketTo define, describe, and forecast the global cannabis testing market on the basis of product and software, service, end user, and regionTo provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)To strategically analyze micromarkets1 with respect to individual growth trends, future prospects, and contributions to the overall marketTo analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leadersTo forecast the market size of market segments with respect to four main regions (along with the countries), namely, North America, Europe, Asia-Pacific, and LATAM & MEATo speak to our analyst for a discussion on the above findings, click Speak to Analyst 

The global cannabis testing service market expected to reach US$ 3.4 billion by 2027 according to a new study by Polaris Market Research.

The report “Cannabis Testing Service Market Share, Size, Trends, Industry Analysis Report, By Service (Potency Testing, Terpene Profiling, Heavy Metal Testing, Pesticide Screening, Microscopy Testing, Residual Solvent Screening, and Others); By End-Use; By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

With the growing need to contain drug abuse and adulteration in cannabis, there is a strong need for quality testing labs in developed economies, this acts as a pivotal factor in boosting the sale of cannabis.

Moreover, the positive scenario of scientific literature, clinical trials, and consumer awareness is creating a strong favorable narrative for the market.

The global cannabis testing service industry is fragmented based on service, end-use, and region.

In terms of service, the market is segmented into potency test, terpene profiling, heavy metal test, pesticide screening, microscopy test, residual solvent screening, and others.

For instance, The Aurora Cannabis, one of Canada’s largest licensed cannabis producers have recently signed a medical cannabis supply deal with Mexican pharmaceutical company Farmacias Magistrales.

This exclusive strategic partnership makes the Mexican based pharmaceutical company country’s first cannabis import license following that development.

Such factors is expected to propel the cannabis testing market over the next eight years.

The market has been analyzed from demand as well as supply side.

The supply side analysis covers the major market players and their regional presence and strategies.

The geographical analysis done emphasizes on each of the major countries across North America including United States, Canada and Mexico.