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Europe Cannabis Testing Market Trends, And Forecasts 2018-2023

Europe Cannabis Testing Market was worth USD 292.58 million in 2018 and estimated to be growing at a CAGR of 12.1%
prashanth velishoju | 05.11.2018
Europe Cannabis Testing Market © prashanth velishoju

In the year 2018, Europe Cannabis Testing Market was valued at USD 292.58 Million. By the year 2023, it is expected to reach USD 517.93 Million at pace of 12.1 % CAGR.

Cannabis test is done for many purposes like to find the concentration of active ingredient that determines the medical potency of cannabis. It is also tested to determine several other ingredients in the given sample. Cannabis testing also involves the determination of contaminants such as fungi and bacteria (mycotoxins), which could cause serious lung infections if administered unchecked.

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Underlying Causes

The growth for Cannabis Testing Market is driven due to factors like increasing prevalence of respiratory diseases, rising accidents under cannabis intoxication, growing usage of LIMS, conducting seminars and conferences to create awareness about cannabis test among people, rising number of cannabis testing laboratories. In addition, increasing investments for R&D activities and advancement of technologies in the medical industry is expected to drive the market growth. However, high cost of cannabis tests, presence of alternative technologies, and lack of skilled professionals is expected to hinder the growth rate for Europe Cannabis Testing Market during the forecast period.

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Geographic Segmentation:

Based on geography the Europe Cannabis Testing Market has been primarily divided into United Kingdom, France, Spain, Italy and Germany. Europe is the second largest market in the Cannabis Testing Market due to rising number of road accidents under intoxication of cannabis, and increasing investments for R&D activities by private organizations are the driving factors in this region.

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Key Players:

Leading companies for Europe Cannabis Testing Market are Agilent Technologies, Inc., Shimadzu Corporation, Waters Corporation, PerkinElmer, Inc., AB SCIEX LLC, Millipore Sigma, Restek Corporation, LabLynx, Inc. (U.S.), Steep Hill Labs, Inc., PharmLabs, LLC, SC Laboratories, Inc., Digipath Labs, Inc., CannaSafe Analytics, and Accelerated Technology Laboratories, Inc.

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