U.S. Cannabis Testing Market size to surpass $4Bn by 2030

U.S. Cannabis Testing Market size is anticipated to exceed USD 4 billion by 2030, according to a new research report by Global Market Insights Inc.
 

Rise in testing laboratories and escalating number of cultivators of marijuana as the chief drivers of the U.S. cannabis testing industry. Snowballing requirement of cannabis cultivators for testing and quality control of hemp products, along with several organizations providing accreditation to laboratories undergoing analytical testing, is poised to spur business landscape.

High sensitivity and accuracy to increase chromatography industry share

Chromatography segment was worth over USD 1 billion in 2021 and is slated to observe notable progress through 2030. Various benefits of chromatography viz., high sensitivity, ease of separation, and accuracy in detecting risky volatile compounds are likely to fuel the demand for the technology.
 

Browse key industry insights spread across 367 pages with 400 market data tables & 25 figures & charts from the report, “U.S. Cannabis Testing Market Size By Technology (Chromatography {Liquid Chromatography, Gas Chromatography}, Spectroscopy {Mass Spectrometry, Atomic Spectroscopy}), By Test Type (Potency Testing, Pesticide Screening, Residual Solvent Screening, Heavy Metal Testing, Terpene Testing, Mycotoxin Testing), Industry Analysis Report, Zonal Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/us-cannabis-testing-market
 

Easy detection of cannabinoids to push market expansion

U.S. cannabis testing market from the potency testing segment is anticipated to register above 10.5% CAGR between 2022 and 2030 as the test type supports the detection and measurement of the full spectrum of cannabinoids, including THC and CBD, among others. Furthermore, soaring demand for potency testing by various manufacturers as well as cultivators of cannabis and cannabis-derived products is foreseen to stimulate segment expansion.
 

North East to emerge as a prominent revenue hub

North East U.S. cannabis testing market accounted for more than 11.5% industry share in 2021. The North East zone of the United States is forecast to emerge as a major revenue hub for this industry owing to the large population base in states such as Connecticut, Pennsylvania, Rhode Island, Massachusetts, New Hampshire, New Jersey, and New York, among others. In addition, the strong presence of market players viz., Thermo Fisher Scientific, Inc. Waltham, Danhar Corporation, and more, is expected to accelerate market trends in the zone.
 

Mergers & acquisitions to remain a key growth strategy

Companies operating in the U.S. cannabis testing industry are focusing on expanding their research facilities and engaging in lucrative acquisitions & partnerships to gain a competitive edge in the business. Some of the key industry players profiled in the report include CW Analytical Laboratories, Digipath, Inc., EVIO, Inc., Eurofins Scientific, and so on.