Global Cannabis Testing Market Size 2021 Share, Strategies to Boost Growth, Market Dynamics, Scope, Top Key Players, Latest Trends with Covid-19 Impac

Posted By : arorasurbhi on 2021-12-03   21:08:59    India
  Global Cannabis Testing Market


Market Growth:

The global US Cannabis Testing Services Market is predicted to grow at a CAGR of 13.4 percent to USD 1,806 million by 2025, up from USD 962 million in 2020. The legalization of medicinal cannabis and the expanding number of cannabis testing laboratories (particularly in the United States), the growing adoption of LIMS in cannabis testing laboratories, and more awareness are all driving this market forward. The market's expansion is likely to be hampered by a lack of standardization in-laws and regulations, high costs, and insufficient employees.

Market Segmentation:

The COVID-19 pandemic's unexpected emergence has had both beneficial and harmful consequences for the pharmaceutical and life sciences industries. Low demand for instruments, consumables, and reagents, as well as supply chain interruptions and trade restrictions, have harmed specific market segments more than others.

Many US Cannabis Testing Services Market participants have seen their operations and financial performance suffer as a result of the epidemic and slowed worldwide research activity. The number of cannabis tests performed in laboratories has decreased due to the closure of academic and research institutes and testing facilities.

Market Segmentation:

The US Cannabis Testing Services Market is divided into testing laboratories, drug makers, and research organizations based on the end-user. In 2021, the testing laboratories segment had the most significant market share, and it is expected to grow at the fastest rate during the forecast period.

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About Author

arorasurbhi Delhi India
I am a blogger and I write Report Oriented Blogs

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