Global Cannabis Testing Market valued at $1.1 billion (2021), is set to witness a lucrative growth of 14% in the next 5 years

Legalization of Medical Cannabis in Key Markets such as the USA bolsters the growth of Cannabis Testing Market

Citing the benefits of medical cannabis, governments in various countries are legalizing its use. In recent years, countries such as Israel, Australia, North Korea, Spain, the UK, Canada, Portugal, Germany, Italy, Brazil, and the Netherlands have all legalized the use of medical cannabis. In the United States, 37 states, 4 U.S. territories as well as the District of Columbia have also legalized 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. To cater to the growing demand for cannabis testing, the number of cannabis testing laboratories is also growing.

Strong Government Support for Legalization of Medical Marijuana in LATAM and Selected European Countries likely to open New Growth Opportunities for 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 currently rely on multiple ineffective medications. Medical marijuana use is expected to alleviate patients’ symptoms of epilepsy, multiple sclerosis, chemo-induced nausea, and chronic pain.” - Director, Leading Epilepsy Foundation, Panama

Competitive Landscape Analysis: Global 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, and others.

Get Customized Research Report on Global Cannabis Testing Market @ https://meditechinsights.com/cannabis-testing-market/

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