Global Market for Pesticides Testing in Cannabis was valued around US$ XX Mn by 2017 and growing at a significant CAGR over seven years forecast period 2018-2024 owing to rise in the demand for various testing methods for pesticides screening in Cannabis
The global market for pesticides testing in cannabis was valued at US$ XX Mn in 2017 and growing at a significant CAGR over the forecast period owing to rise in the demand for the various testing methods for pesticides screening in cannabis are driving the market for pesticides testing in cannabis over the forecast period. Moreover, the increase in the number of cannabis testing laboratories due to the legalization of cannabis in various regions across the globe also propelling the market. However, lack of awareness about the pesticide testing in cannabis in underdeveloped countries is hindering the growth of the market.
Global market for pesticides testing in cannabis segmented on the basis of technique, product, end user, and region
- Gas Chromatography
- Mass Spectrometry
- Atomic Spectrometry
By End User
- Cannabis Research Laboratories
- Pharmaceutical Companies
- North America
- Rest of Europe
- Australia & New Zealand
- Rest of Asia-Pacific
- Rest of World
- South Africa
- Saudi Arabia
Chromatography Pesticides Testing in Cannabis accounted for higher revenue share
Based on technique, global market for pesticides testing in cannabis segmented into chromatography, spectroscopy and others. Chromatography market accounted for larger revenue share in 2017 and projected to dominate over the forecast period owing rise in the demand for the cannabis testing methods such as pesticides screening and increase in number of cannabis testing laboratories in different regions. Moreover, Companies are investing heavily in the developing laboratories expected to fuel the growth of the market over forecast period.
North America leads the Global Pesticides Testing in Cannabis market
PBI’s global pesticides testing in cannabis market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to regional analysis, North America accounted for larger revenue share in 2017 and the same trend is projected to follow over 2018-2024 due to the legalization of the cannabis in the major states of United States and Canada and the presence of the market players in developing cannabis testing laboratories. Europe market for pesticides testing in cannabis projected to exhibit significant growth and the Asia Pacific is expected to be the highest growing region in the market for pesticides testing in cannabis during the forecast period due to increase in the use of cannabis for the treatment. Moreover, the Middle East & Africa and Latin America are also expected to show moderate growth for the market over the forecast years.
Acquisitions & Mergers and strategic alliances are the key strategies adopted by the market players
Global market for pesticides testing in cannabis further reveals that the key player’s increasingly adopting strategies such as acquisitions & mergers and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, in September 2016, AB SCIEX LLC (U.S.) collaborated with CW Analytical, a cannabis testing laboratory, which develops cannabis testing standard
Key player’s profiles in the report are AB SCIEX LLC, Agilent Technologies, Inc., Waters Corporation, CannaSys, Inc., Shimadzu Corporation, GenTech Scientific, Millipore Sigma, PerkinElmer, Inc., PharmLabs, LLC, and Cannabix Technologies, Inc.