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U.S. Cannabis Testing Market Size

  • Report ID: GMI4481
  • Published Date: Oct 2022
  • Report Format: PDF
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U.S. Cannabis Testing Market Size

U.S. Cannabis Testing Market size accounted for more than USD 1.5 billion in 2021 and is expected to grow at a 10.5% CAGR from 2022 to 2030. Rigorous R&D initiatives to utilize cannabis for treating infections and illnesses will boost the market expansion.

 

U.S. Cannabis Testing Market
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Cannabis drug testing has gained traction in the pharmaceutical, sports, and legal sectors. Rigorous regulatory norms implemented by authorities to ensure superior quality of products are set to propel market progress. These authorities are working towards protecting consumer health while also maintaining the efficiency of supervisory conduits for the lawful commercialization of appropriate cannabis-derived products and cannabis.

 

Mounting demand for the legalization of cannabis for medical use is foreseen to augment the U.S. cannabis testing market outlook. The rising commercial and social importance of medical cannabis is encouraging government agencies and private companies to facilitate its legalization. Moreover, several insurance firms are providing reimbursement for the prescription of medical cannabis in states that have legalized the utilization of medical cannabis, which is boosting industry size.
 

U.S. Cannabis Testing Market Report Attributes
Report Attribute Details
Base Year:2021
U.S. Cannabis Testing Market Size in 2021:USD 1.5 Billion
Forecast Period:2022 to 2030
Forecast Period 2022 to 2030 CAGR:10.5%
2030 Value Projection:USD 4 Billion
Historical Data for:2017 to 2021
No. of Pages:367
Tables, Charts & Figures:425
Segments covered:Technology, Test Type, and Zones
Growth Drivers:
  • Growing legalization pertaining to the use of cannabis across various U.S. states
  • Rigorous regulatory requirements implemented by authorities to ensure superior quality products
  • Rise in the number of testing laboratories and increasing cultivators of marijuana
Pitfalls & Challenges:
  • Lack of uniform testing standards
  • High cost of setting up a cannabis testing lab
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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The U.S. market size for cannabis testing was valued at more than USD 1.5 billion in 2021 and is set to progress at around 10.5% CAGR between 2022 and 2030 owing to rigorous R&D initiatives to utilize cannabis for treating infections and illnesses.

The residual solvent screening segment is projected to capture nearly 14% market share by 2030 on account of increasing awareness regarding its importance in the analysis of highly concentrated forms of cannabis.

U.S. cannabis testing market from spectroscopy segment is poised to be valued at USD 1.2 billion by 2030 as the technology provides real-time analysis, high throughput, and minimal requirements for sample preparation.

The Pacific Central cannabis testing industry is speculated to grow at more than 10.5% CAGR over 2022-2030 as a result of favorable regulatory norms pertaining to cannabis testing and substantial demand for medical marijuana in the states.

U.S. Cannabis Testing Market Scope

  • U.S. Cannabis Testing Market Size
  • U.S. Cannabis Testing Market Analysis
  • U.S. Cannabis Testing Market Share

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    • Base Year: 2021
    • Companies covered: 10
    • Tables & Figures: 425
    • Countries covered: 1
    • Pages: 367
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