The global cannabis testing services market is driven by increasing legalization of cannabis for medical and recreational purposes, growing awareness about the benefits of cannabis testing, and the need for quality control and standardization of cannabis products. Additionally, the rise in demand for analytical testing services, the development of advanced testing technologies, and the increasing number of accredited testing laboratories are also contributing to market growth. However, the high cost of cannabis testing services, the lack of uniform testing standards, and the shortage of skilled professionals in the industry may hinder market growth. Nonetheless, the market is expected to witness significant growth in the coming years due to the growing acceptance of cannabis for medical purposes and the increasing legalization of cannabis across the world.
The global Cannabis Testing Services Market is estimated to be valued at US$ 1,658.9 million in 2022 and is expected to exhibit a CAGR of 13.4% during the forecast period (2022-2030).
Key Competitors in the Cannabis Testing Services Industry:
1. Thermo Fisher Scientific Inc.
Thermo Fisher Scientific Inc. was founded in 2006 and is headquartered in Waltham, Massachusetts, United States. The company operates in over 50 countries around the world, including the Americas, Europe, Middle East and Africa, and Asia Pacific. Thermo Fisher Scientific is a leading provider of scientific research equipment, reagents, software, services, and laboratory consumables. In March, 2023 Thermo Fisher Scientific, the world leader in serving science, and Arsenal Biosciences, Inc. (ArsenalBio), a clinical-stage cell therapy company engineering advanced chimeric antigen receptor (CAR)-T cell therapies for solid tumors, today announced an update to our strategic collaboration to further the development of manufacturing processes for new cancer treatments.
2. Merck KGaA
Merck KGaA, also known as EMD Group, was founded in 1668 and is headquartered in Darmstadt, Germany. The company operates in over 60 countries worldwide, including Europe, the Americas, Asia Pacific, and Africa. Merck KGaA is a science and technology company that operates in three main business segments: Healthcare, Life Science, and Performance Materials. In March, 2023 Merck, has entered an expanded partnership with global green chemistry education nonprofit Beyond Benign. With plans for a multi-year contribution to the organization, Merck is helping transform chemistry education to better prepare next generation scientists with skills to address sustainability through chemistry.
3. Shimadzu Corporation
Shimadzu Corporation was founded in 1875 and is headquartered in Kyoto, Japan. The company operates in over 80 countries worldwide, including Asia Pacific, Europe, the Americas, and Africa. Shimadzu Corporation is a leading provider of analytical and measuring instruments, medical systems, aircraft equipment, and industrial machinery.
4. PerkinElmer, Inc.
PerkinElmer, Inc. was founded in 1937 and is headquartered in Waltham, Massachusetts, United States. The company operates in over 190 countries around the world, including Europe, the Americas, Asia Pacific, and Africa. PerkinElmer, Inc. is a leading provider of life science research solutions, diagnostics, and analytical laboratory instruments. In February, 2023 PerkinElmer, has launched the EnVision Nexus system, its fastest and most sensitive multimode plate reader to date, designed for demanding high-throughput screening (HTS) applications and to accelerate drug discovery efforts.
5. Steep Hill Labs, Inc.
Steep Hill Labs, Inc. was founded in 2008 and is headquartered in Berkeley, California, United States. The company operates in multiple countries worldwide, including the Americas, Europe, and Asia. Steep Hill Labs, Inc. is a cannabis testing and analytics company that provides comprehensive cannabis potency and safety testing services.
6. CB Scientific Inc.
CB Scientific Inc. was founded in 2013 and is headquartered in Temecula, California, United States. The company operates in the United States and Canada. CB Scientific Inc. is a cannabis testing and analytics company that provides comprehensive testing solutions for potency, terpenes, and residual solvents. In August, 2023 CB Scientific. Inc. announced that it has entered into a cooperative manufacturing agreement (CMA) with Shenzhen Pump Medical Co., Ltd. (Shenzhen Pump), a privately held, well-established medical device manufacturer, developer and distributor of cardiovascular medical equipment and devices based in Shenzhen, Nanshan, China.
7. Alpha-CAT
Alpha-CAT was founded in 2013 and is headquartered in Paris, France. The company operates in Europe and Asia. Alpha-CAT is a cannabis testing and analytics company that provides comprehensive cannabis potency and quality control testing services.
8. Orange Photonics, Inc.
Orange Photonics, Inc. was founded in 2015 and is headquartered in New Hampshire, United States. The company operates in the United States and Canada. Orange Photonics, Inc. is a cannabis testing and analytics company that provides portable and accurate cannabis potency testing solutions. In September, 2022 US Customs Border & Protection Agency has evaluated and selected the LightLab 3 Cannabis Analyzer from Orange Photonics as its field-deployable cannabis testing solution.
9. Gobi Labs
Gobi Labs was founded in 2015 and is headquartered in San Francisco, California, United States. The company operates in the United States and Canada. Gobi Labs is a cannabis testing and analytics company that provides comprehensive cannabis potency and safety testing services.
10. MyDx, Inc.
MyDx, Inc. was founded in 2013 and is headquartered in San Diego, California, United States. The company operates in the United States and Canada. MyDx, Inc. is a cannabis testing and analytics company that provides portable cannabis potency and chemical analysis testing solutions.
11. SC Laboratories Inc.
SC Laboratories Inc. was founded in 2010 and is headquartered in Santa Cruz, California, United States. The company operates in multiple countries worldwide, including the United States, Canada, Europe, and Asia. SC Laboratories Inc. is a cannabis testing and analytics company that provides comprehensive cannabis potency and safety testing services.
12. Restek Corporation
Restek Corporation was founded in 1985 and is headquartered in Bellefonte, Pennsylvania, United States. The company operates in multiple countries worldwide, including the Americas, Europe, and Asia Pacific. Restek Corporation is a leading provider of chromatography and environmental laboratory equipment and consumables.
*Definition- Cannabis testing services refer to the process of analyzing cannabis products to determine their potency, quality, and safety. These services include testing for the presence of various contaminants, such as pesticides, heavy metals, and residual solvents, as well as measuring cannabinoid and terpene profiles.
