asia pacific cannabis testing Market

The Asia Pacific cannabis testing market is expected to reach US$ 422.74 Mn in 2025 from US$ 132.38 Mn in 2017. The market is estimated to grow with a CAGR of 15.8% from 2018-2025.

The growth of the cannabis testing market is primarily attributed to the growing adoption of LIMS and cannabis legalization for medical and recreational purpose in the region. However, restricted use of cannabis is likely to pose a negative impact on the market growth. On the other hand, increased demand through domestic manufacturing is likely to have a positive impact on the growth of the Asia Pacific cannabis testing market in the coming years. The growing advanced technology provide the best solutions to meet the current requirements and enables the system to be readily adapted based on the needs. The modern LIMS (Laboratory Information Management Systems) system are used to automatically registers and archives the results of laboratory work, to support people management & equipment and materials administration. Advancements including, macro level challenges to increase innovation, manage risk, improve governance, comply with regulatory requirements, and deliver quantifiable operational results, help pathology laboratories to meet the evolving demands of the modern pathology services in the region. The increasing adoption of LIMS technique helps to improve the transparency to lab work status, reducing the costs & improved efficiency, providing flexibility to accommodate new requirements and also help to improve quality & compliance. Penetration of information technology and increasing demand for data management and standardization is helping in growing the number of LIMS vendors in the market. The increasing demand for the LIMS in Asian market and R&D spends in the counties like China and India is growing that proportionally upsurge the market growth in the region. Thus, due to the above advancements, the cannabis testing market is expected to grow at a rapid pace during the forecast period.

In 2017, the product segment held a largest market share of 73.7% of the cannabis testing market, by type. This segment is also expected to dominate the market in 2025 owing diverse portfolio of cannabis testing products to the healthcare industry for innovations in the technologies. Moreover, the same segment is also expected to witness the highest CAGR in the market accounting to 16.1% in 2018 to 2015 owing to increasing analytical services and medicinal cannabis services in testing cannabis.

Asia Pacific cannabis testing market, based on services was segmented into potency testing, microbial analysis, residual solvent screening, heavy metal testing, pesticide screening, terpene profiling, and genetic testing. The potency testing segment is anticipated to grow at a CAGR of 16.9% during the forecast period.
The testing laboratory segment held a largest market share of 49.2% of the cannabis testing market, by end user. This segment is anticipated to grow at a CAGR of 16.3% during the forecast period.

Some of the major primary and secondary sources for cannabis testing included in the report are Federal Commission for the Protection against Sanitary Risk (COFEPRIS), Defense Advanced Research Projects Agency (DARPA), German Research Foundation (DFG), Food & Drug Administration (FDA), Indian Institutes of Technology (IITs), Japan Society for the Promotion of Science (JSPS), Laboratory Information Management System (LIMS), Medical Marijuana Regulation and Safety Act (MMRSA), Non-Governmental Organization (NGO), National Science Foundation (NSF) and others.