The Global Cannabis Testing Market valued at $1.1 billion (2021) is set to witness a healthy growth rate of 14% in the next 5 years. Some of the major factors propelling the global cannabis testing market include the legalisation of medical cannabis, the rise in the number of cannabis laboratories in key market like the U.S., the growing adoption of laboratory information management systems (LIMS) in cannabis testing laboratories, and support from governments for the legalisation of medical marijuana in LATAM and Europe.
Legalization of Medical Cannabis and Increasing Number of Cannabis Testing Laboratories in Key Markets such as the U.S. Bolsters the Cannabis Testing Market
Citing the benefits of medical cannabis, governments in various countries are legalizing its use. Israel, Australia, North Korea, Spain, Portugal, Canada, Portugal, Germany, Italy, Brazil, and the Netherlands are just a few of the countries that have recently legalised the use of medical cannabis. In the United States, 37 states, 4 U.S. territories and the District of Columbia have all legalized the use of medicinal cannabis. Due to the growing legalization and increased adoption of cannabis testing, the demand for the analytical testing of cannabis to ensure that the products are contamination-free and safe for human consumption has grown. The number of cannabis testing laboratories is expanding to meet the rising demand for cannabis testing.
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Strong Government Support for Legalization of Medical Marijuana in LATAM and Selected European Countries Likely to Open New Growth Avenues for the Cannabis Testing Market
Across Europe, there is considerable variation in the regulatory approach to medical cannabis
Countries such as the UK, the Netherlands, Poland and Portugal have well-established medical cannabis legislation
Government of Greece and UK approved the legalization of cannabis for medical use in 2018, while Germany made it legal for doctors to prescribe medical cannabis in 2017.
In December 2021, Malta legalized the cultivation and personal use of cannabis and in October 21, Luxembourg legalized cannabis production, and consumption
Medical marijuana is legal in Argentina, Brazil, Chile, Colombia, Ecuador, México, Panama, Paraguay, and Perú
In March 2022, Costa Rica also legalized medical marijuana
“Legal right to use marijuana for medical purposes will improve the lives of patients who presently rely on multiple ineffective medications. Medical marijuana use is anticipated to alleviate patients’ symptoms of epilepsy, multiple sclerosis, chemo-induced nausea, and chronic pain.”- Director, Leading Epilepsy Foundation, Panama
Competitive Landscape Analysis of Cannabis Testing Market
The global cannabis testing market is marked by the presence of key players such as Agilent Technologies, Inc., Shimadzu Corporation, MERCK KGAA, Thermo Fisher Scientific, DigiPath, Inc., Steep Hill Inc., SC Laboratories, Inc., PharmLabs LLC, andsothers.
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