Cannabis Testing Market — Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024

Posted on 2017-07-31 by COHERENT MARKET INSIGHTS in Healthcare // 0 Comments

Seattle,WA, 2017-Jul-31 — /EPR Network/ —

Cannabis is a flowering plant predominantly found is Africa, Asia, and the Americas. Cannabis is non-conventionally used as a hemp fiber, hemp oils, used for medicinal resolutions, and as a frivolous drug. Industrial hemp crops are produced from the cannabis plants, which produce a plenty of fiber. To gratify the UN Narcotics Convention, some of the cannabis strains are raised to produce nominal levels of tetrahydrocannabinol, the main psychoactive component. There are large number of plants, which are selectively raised to produce trahydrocannabinol, which is found by curing the flowers. Some of the other compounds, which include hashish and hash oil, are mined from the cannabis plant. These compounds are also used in testing procedure and thus, this would boost the cannabis testing market.

Despite regulatory challenges, the future of cannabis testing market is promising

In August 2016, the Drug Enforcement Agency (DEA) left its decision of classifying cannabis as a Schedule 1, deeming it to be a dangerous narcotic. This decision, however, will lead to rise in number of registered cannabis manufacturers, which explains that additional green light in research on cannabis, a strong move which increases the call for laboratory services. A superficial search of the medical literature shows that there are over 4,000 articles on cannabis on pain management. One of the biggest drivers is adult frivolous use, which is legal in some of the states in US. Meanwhile, in 2016, cannabis for medicinal purpose has received major support, claiming 89% of Americans allegedly support legalization versus 74% in 2011 and approximately 25 states have legalized medical cannabis, while several more are on track to do so boosting the cannabis testing market globally.

HPLC technology to gain the major market share in cannabis testing market in the U.S. and Asia

The global cannabis testing market is segmented on the basis of testing application, testing solutions and geography. On the basis of testing application, the market is divided into potency testing, terpene testing, residual solvent, pesticide screening and others. The others in market in testing application includes heavy metals and moisture content. On the basis of testing solutions, the market is divided into High Performance Liquid Chromatography, Gas Chromatography, Gas Chromatography Mass Spectrometry, inductively coupled plasma-mass spectrometric and others. The others in market includes Liquid Chromatography Mass Spectrometry, and Inductively Coupled Plasma in testing solutions.

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Increasing research centers and testing laboratories in U.S. to boost the Cannabis Testing Market in North America

Regional segmentation in Cannabis Testing Market by Coherent Market Insights comprises of North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America accounts for the largest share in the market, mainly due to legalization of cannabis testing and use of them in medicinal purpose in many states of North America. According to GenTech Scientific, cannabis is also used in medical field and can treat various medical conditions such as cancer, eye disorder, convulsions, HIV/AIDS, and more. There are many research and lab testing facilities in US which are primarily focused on providing services to the cannabis industry, some of the research labs are Aegis Biotech, Agricor Laboratorie, Al-tar Services Inc, A2LA, Analytical 360, and Anresco Laboratorie etc

Companies are collaborating with national universities to develop the varied instruments in a short time

Key players operating the cannabis testing market include Cannabix Technologies., GenTech Scientific, and Shimadzu Scientific Instruments. The key players in the market are constantly working towards developing innovative instruments in order to provide accurate test results. Cannabix is presently focused on developing drug-testing devices which will detect Tetrahydrocannabinol by just the use of breath samples.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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