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North America cannabis testing market accounted to US$ 470.85 Mn in 2017 and is expected to grow at a CAGR of 11.6% during the forecast period 2018 – 2025

Press release   •   Apr 24, 2019 20:20 IST

cannabis testing market

The Asia Pacific cannabis testing market is expected to grow at highest rate during the forecast period owing large population countries such as China and India, increasing number of accidents with cannabis intoxication, adoption of trends from western regions in terms of legalization of medical and recreational use of cannabis are expected to fuel the market growth in Asia Pacific region.

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Regional Framework:

The Report Provides A Detailed Overview Of The Industry Including Both Qualitative And Quantitative Information. It Provides Overview And Forecast Of The Global North America Cannabis Testing Market Based On Various Segments. It Also Provides Market Size And Forecast Estimates From Year 2017 To 2025 With Respect To Five Major Regions, Namely; North America, Europe, Asia-Pacific (Apac), Middle East And Africa (Mea) And South & Central America. The North America Cannabis Testing Market By Each Region Is Later Sub-Segmented By Respective Countries And Segments. The Report Covers Analysis And Forecast Of 18 Countries Globally Along With Current Trend And Opportunities Prevailing In The Region.

The Report Analyzes Factors Affecting North America Cannabis Testing Market From Both Demand And Supply Side And Further Evaluates Market Dynamics Effecting The Market During The Forecast Period I.E., Drivers, Restraints, Opportunities, And Future Trend. The Report Also Provides Exhaustive Pest Analysis For All Five Regions Namely; North America, Europe, Apac, Mea And South & Central America After Evaluating Political, Economic, Social And Technological Factors Effecting The North America Cannabis Testing Market In These Regions.

The List of Companies
1. Agilent Technologies
2. PerkinElmer, Inc.
3. Shimadzu Corporation
4. SCIEX
5. Merck KGaA
6. Restek Corporation
7. Waters
8. CannaSafe Analytics
9. Accelerated Technology Laboratories, Inc.

10. Digipath Labs

Legalization of medical cannabis is expected to boost the market growth over the years

The United States is anticipated to be the main driving force of growth of use of medical cannabis. 30 states of the United States of America have legalized the use of cannabis. These 30 states comprise of 60% of total population and have approved the use of medical marijuana. This has become the driving force for the growth of cannabis testing marked in the entire North America region. Currently more than 8000 active licenses for cannabis businesses in USA. It is the only country with such numbers of market players.

Several countries across the region are strongly considering to end regulation and prohibition for using marijuana for adults. The steady growth of public support around the region will likely convert into major state-level success for marijuana policy reform. Many campaigns are organizing to support the legalizing marijuana by the government in Illinois, Minnesota, New Hampshire New Jersey, New York and many other states of the United States. In addition, according to the NORML and the NORML Foundation, in the 2018 midterm election, the Proposal 1 to legalize marijuana in Michigan was approved by the voters and Michigan became the first Midwestern state to legalized recreational marijuana. Moreover, Michigan became the 10th state that allows possessing the drug in small amounts for recreational use for adults. Moreover, in 2001, Canada legalized medical cannabis use and cultivation and in July 2018, legalized marijuana for adult-use in the country.

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Increasing Awareness through Conferences, Symposia, and Workshops

The medical use of cannabis has witnessed a significant changes in this decade as many government have legalized use of cannabis. The governments of various states have attempted to spread the use of cannabis in medical industry. Due to this, various government institution have initiated the process of legalizing the use of medical cannabis and have started to place a legal framework to practice. These rapid changes in the industry have enabled medical experts and professionals to organize events and spread the use of medical cannabis.

Currently, medical cannabis conferences have been taking places in various parts of the world. In US, conferences symposium and seminars take place at various states to acquaint its citizens and authorities with the use of medical marijuana and legal framework related to it.

Conferences which recently took place regionally are:

World Medical Cannabis Conference and Expo (April 2018), is one of the most popular conference in USA with participants across the world. This is the largest cannabis symposium in the world which brings all business stakeholder together. It involves over 3000 guests and 150 exhibitors.

CannaCon, is first ever symposium that features legal sale of cannabis for business purposes. The expo provide a platform for guest to get access to knowledge from business experts with over 12000 guests.

U.S Cannabis Conference and Expo, this conference involves high profile discussion, presentation and will educate entrepreneur to boost the development and evolution of medical cannabis industry.

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Media, Healthcare and Telecommunication industries.

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