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. Based on end-use, the market is further bifurcated into drug manufacturers, cultivators/growers, and research institutes & labs.
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Segment Highlights
- The potency test segment is estimated to hold a major share in the global cannabis testing service industry, as the use of cannabis is rising in medicinal purposes. The segment is expected to witness significant growth over the forecast period.
- Based on end-use, the cannabis cultivators/growers’ segment is projected to constitute almost half of the market in 2027. The high share is attributed to the fact that most of the cultivator desire to have in-house testing capabilities.
- North America market accounted for the dominant share in 2019 in terms of revenue owing to the growing research & development in the field of hemp for medical use. In addition, the growing demand for marijuana in healthcare industry is likely to complement market growth
List of Key Players
- Shimadzu Corporation
- Agilent Technologies
- PerkinElmer, Inc.
- Waters Corporation
- CannaSys, Inc.
- PharmLabs, LLC
- Saskatchewan Research Council (SRC)
- Eurofins Scientific
- CW ANALYTICAL
- GreenLeaf Lab
- Praxis Laboratory
- SGS Canada Inc.
The global 5G IoT market size is expected to reach USD 11.35 billion by 2027 according to a new study by Polaris Market Research.
The report “5G IoT Market Share, Size, Trends, Industry Analysis Report, By Radio Technology (5G NR Standalone Architecture and 5G NR Non-Standalone Architecture); By Range (Short Range IoT Devices and Wide Range IoT Devices); By Vertical (Manufacturing, Energy & Utilities, Government, Healthcare, Transportation & Logistics, Mining and Others); By Regions; Segment Forecast, 2020 –2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.
5G network provides a smooth communication and networking functions and works under a wireless high-frequency technology.
For instance, in order to obtain measurements from a boiler or other equipment in manufacturing industry, 5G IoT offers ultra-reliable communications for several time-sensitive communications processes.
Moreover, factors such as rise in demand for processing of collected data via sensors, analyzing, and real-time tracking of business operations & other activities across several industrial sectors are some of the other factors fueling the market growth.
On the contrary, consumer landscape and changing business environment are expected to provide lucrative opportunities to the global market in the upcoming years.
The newly added Cannabis Market research report by Value Market Research disclose all the important information associated with the market such as value, growth factor, trends, market share, size, and challenges for the forecasted timeline 2020-2027.
Basically, this report is designed to give a proper understanding of industry structure and competition intensity attractiveness.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the cannabis market include Aphria Inc., Aurora Cannabis Inc., CanniMed Therapeutics Inc., Canopy Growth Corp., Cara Therapeutics Inc., GW Pharmaceuticals PLC, Insys Therapeutics Inc., MedReLeaf Corp., Scotts Miracle-Gro Co. and Sprott Inc.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Cannabis Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/cannabis-market/download-sampleMarket DynamicsThe growing medicinal application of cannabis is driving market growth.
The increasing legalization of cannabis in most of the region is again accelerating market growth.
Increasing usage of cannabis for smoking by using small pipes, bongs, paper-wrapped joints, tobacco leaf-wrapped blunts or roach clips is further boosting the demand.
The global Medical Cannabis Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the medical cannabis market include Tilray, Elixinol Global Limited, Medical Marijuana, Inc., Extractas, Peace Naturals Project Inc., BOL Pharma, PharmaHemp, Kiehl’s, Vermont Hemp Health, Discover Health LLC, Endoca, Pacific roots, Canopy Growth Corporation.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Medical Cannabis Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/medical-cannabis-market/download-sampleMarket DynamicsIncreasing use of cannabis for drug formulation and growing awareness among pharma companies about medicinal benefits drive the global medical cannabis market.
The medical cannabis market is majorly driven by the US.
Increasing research and growing approvals for medicinal use are predicted to create ample opportunities for market growth.
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