Cannabis testing services involves the extraction, analysis, and detection of cannabinoids in a sample
The market for Cannabis Testing Services is a growing industry, with new players coming into the market due to the favorable government policies regarding the use of marijuana. For instance, in March 2019, Afriplex, a company specializing in botanical extracts, complementary medicines, and food & beverage product solutions, opened its cannabis testing laboratory in South Africa. This lack of competition is creating lucrative growth opportunities for cannabis testing.
The testing process involves the extraction, analysis, and detection of THC and other cannabinoids in a sample. The testing process can also check the product’s terpene profile, which can help predict its effects and best use cases. In addition, cannabis testing can determine the terpene profile of a product, which is useful in determining how it affects the human body. While the legalization of cannabis for medical purposes in several countries around the world is helping the industry, there’s still a lot of uncertainty and regulatory uncertainty in many jurisdictions. The use of cannabis in drug development and research is also expected to increase. While cannabis products are strictly regulated in the EU, products containing more than 0.3% THC are not allowed in many countries
The global Cannabis Testing Services market is expected to be valued at US$ 1,675.9 million in 2021 and is expected to exhibit a CAGR of 14.2% during the forecast period (2021–2028).
The global cannabis testing market is expected to grow at the highest CAGR during the forecast period, with the instruments segment contributing the most to the market. Technological advances are fueling the growth of this segment. Consumables are also the largest contributor to the market. They are a major part of the cannabis testing process and are used on a regular basis. It is expected that legalization will continue to increase the demand for cannabis testing. The US cannabis testing market has a high growth potential due to the legalization of marijuana for medicinal use.
The Saskatchewan Research Council is a government laboratory that conducts analytical tests on cannabis products. The Cannabis Act recognizes the Saskatchewan Research Council as a government laboratory, making the organization a reputable provider of analytical testing. Its facilities have the capacity to handle a large volume of cannabis products and provide consistent results. This allows cannabis manufacturers and retailers to follow strict MED regulations while ensuring their products are safe for consumers. In addition, Nordic Analytical Laboratories also provides cannabis lab testing services to ensure compliance with the requirements of a regulated industry.
In 2019, cannabis cultivators dominate the global cannabis testing market. This segment is highly regulated, and cannabis cultivators must undergo rigorous quality checks on the cultivated plants. As a result, the cannabis testing services market is expected to grow faster than average over the forecast period. Pharmaceutical giants are also entering this industry for the development of cannabinoid-based drugs. There are many different factors driving the growth of this market, and the global cannabis testing market is no exception.
Heavy metals are also a common source of contamination in cannabis. Heavy metals are often present in marijuana, and the plant absorbs these metals from the soil, water, fertilizer, and flowers. Even at trace levels, heavy metals in cannabis pose a health risk to consumers. To ensure that these products are safe, cannabis testing services use the latest techniques in analytical labs to ensure compliance with state standards.
