The cannabis testing procedure includes sample and column preparation, analyte identification, concentration determination, and analyte separation. Legalization of cannabis for medical and recreational purposes will propel the cannabis testing business forward. The cannabis testing market is expected to increase positively during the forecast period, owing to the need to identify desired active ingredients and undesired trace components before using cannabis products for medical and recreational purposes. Another important stimulus for the simultaneous expansion in the cannabis testing business would be the increased tendency of consuming cannabis for recreational purposes. Companies are creating new, precise, and efficient cannabis testing platforms, which are likely to accelerate industry expansion. One of the challenges limiting market expansion is the high price of analytical tools for evaluating cannabis.
According to Coherent Market Insights the global Cannabis Testing Market size was valued at US$ 926.3 million in 2017, and is expected to witness a CAGR of 13.2% over the forecast period (2018 – 2026).
Leading Companies in the Cannabis Testing Industry:
1. Thermo Fisher Scientific
The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets. The company was incorporated in 1956 and is based in Waltham, Massachusetts. On December 8, 2021, thermos fisher Scientific has completed its acquisition of PPD, Inc., a leading global provider of clinical research services to the biopharma and biotech industry.
2. PerkinElmer Inc.
PerkinElmer, Inc. was founded in 1937 and is headquartered in Waltham, Massachusetts. It operates through two segments, Discovery & Analytical Solutions and Diagnostics. PerkinElmer has made 28 acquisitions and 4 investments. The company has spent over $ 10.61B for the acquisitions. PerkinElmer has invested in multiple sectors such as Life Sciences Platforms and Tools, Genomics, Life Sciences Tech and more.
3. Agilent Technologies
Agilent Technologies, Inc. was incorporated in 1999 and is headquartered in Santa Clara, California. Agilent Technologies, Inc. provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. Agilent Technologies Inc) on March 2021 announced it has entered into a definitive agreement to acquire Resolution Bioscience Inc., a leader in the development and commercialization of next-generation sequencing (NGS)-based precision oncology solutions, with an aim to expand Agilent’s capabilities in NGS-based cancer diagnostics and provides the company with innovative technology to further serve the needs of the fast-growing precision medicine market.
4. Shimadzu Corporation
Shimadzu Corporation was founded in 1875 and is headquartered in Kyoto, Japan. Shimadzu Corporation manufactures and sells analytical and measuring instruments, medical systems, industrial machinery, and aircraft equipment worldwide. On January 7, 2019 Shimadzu Medical Systems USA, a subsidiary of Shimadzu Corporation in order to further expand its Healthcare Business in North America, has acquired Core Medical Imaging, Inc.
5. Cannabix Technologies
Cannabix Technologies Inc., a technology company, develops marijuana breathalyzer for employers, law enforcement, governments, and public in North America. It develops tetrahydrocannabinol breath analyzers, a point of care breath testing tool for the rapid detection of recent cannabis use, as well as breath collection units. The company was formerly known as West Point Resources Inc. and changed its name to Cannabix Technologies Inc. in August 2014. Cannabix Technologies Inc. was incorporated in 2011 and is based in Burnaby, Canada.
6. Waters Corporation
Waters Corporation, a specialty measurement company, provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments, Waters and TA. Waters Corporation was founded in 1958 and is headquartered in Milford, Massachusetts. On February 2022, Waters Corporation announced it has acquired the technology assets and intellectual property rights of Megadalton Solutions, Inc. to Broaden its Application in Cell and Gene Therapy. On January 2020, Waters Corporation announced that it has entered into a definitive agreement to acquire Andrew Alliance, an innovator in specialty laboratory automation technology, including software and robotics
7. Steep Hill Labs, Inc
Steep Hill Inc., a cannabis science and technology company, provides laboratory testing, quality assurance, and data analytics services in Canada and the United States. It offers analytical testing services and hemp analysis, as well as consulting services in the areas of analytical testing, cannabis testing regulations, test methods, laboratory information management systems, and product quality and safety. The company was formerly known as Cannabis Clonal Corporation and changed its name to Steep Hill Inc. in February 2022. Steep Hill Inc. was founded in 2008 and is based in Toronto, Canada. On January 2022, Canbud Distribution Corp acquired Steep Hill.
8. GenTech Scientific
GenTech Holdings, Inc. operates a chain of hemp centric coffee shop retail spaces under the Healthy Leaf brand name. The company offers CBD-infused chocolates, skin creams, artisan teas, artisan coffee, wellness snack bars, and pet treats through its retail spaces. It also provides holistic education and classes. The company is based in New York, New York. Poway-based Conquer Scientific and Arcade, New York-based GenTech Scientific are merging to become the world’s largest provider and servicer of refurbished analytical equipment. The merger was facilitated by Lakelet Capital, LLC, which acquired GenTech in 2020 and announced its acquisition of Conquer on Feb. 1.
9. Pharm Labs
MediPharm Labs Corp., a pharmaceutical company, produces and sells pharmaceutical-quality cannabis oil and concentrates, and advanced derivative products in Canada, Australia, Germany, and internationally. It formulates, processes, packages, and distributes cannabis extracts and advanced cannabinoid-based products. The company also provides GMP flower sourcing, packaging, and distribution services. MediPharm Labs Corp. was founded in 2015 and is headquartered in Barrie, Canada.
10. Digipath Labs
Digipath, Inc. was incorporated in 2010 and is headquartered in Las Vegas, Nevada. Digipath, Inc., together with its subsidiaries, provides cannabis and hemp lab testing services in Las Vegas to Nevada licensed medical marijuana enterprises. Digipath Labs announced the closing of its acquisition of VSSL Enterprises Ltd. a provider of agritech consulting solutions in the areas of cannabis genetics, tissue culture, cultivation, analytical testing and predictive tools. The acquisition will provide increased growth for its leading ISO certified analytical lab in Las Vegas.
*Definition- Plant testing is performed for a variety of reasons, including determining the quantity of active ingredients (cannabinoids, terpenes), which indicates the medicinal efficacy of the cannabis. It is also analysed to determine the presence of many additional ingredients in a particular sample.
