Cannabidiol (CBD) Testing Market is Expected to Grow at a CAGR of 4.80%

The cannabidiol (CBD) testing market is expected to reach USD 67.38 million by 2030, which is USD 46.31 million in 2022, registering a CAGR of 4.80% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.    

The cannabidiol (CBD) testingis expected to witness significant growth during the forecast period due to increasing awareness regarding the benefits of cannabis among consumers along with increasing usages of cannabidiol (CBD) for medical purpose. Also due to a large number of health benefits, the governments in nations are now recognizing the usage of cannabidiol (CBD) for medical purpose. The cannabis is progressively being legalized for medical usage in countries across globe. The requirement for cannabidiol (CBD) analytical testing to make sure its safety before the consumption, which has developed in recent years. 

Some of the major players operating in the cannabidiol (CBD) testing market are:

• CannaSafe (U.S.)
• Steep Hill, Inc (U.S.)
• Eirlab Research Group (Ireland)
• GOODBODY HEALTH INC. (U.S.)
• CW ANALYTICAL (U.S.)
• Aphria Inc (Canada)
• Medical Marijuana, Inc (U.S.)
• STENOCARE A/S (Denmark)
• Cannabis Science Inc (U.S.)

Cannabidiol (CBD) Testing Market Dynamics

Drivers

• Increasing usage of cannabidiol (CBD) numerous medical applications

Cannabidiol is most extensively used for therapeutic purposes owing to the lack of psychoactive effects. In numerous medical applications, cannabidiol is used in variety of problems such as anxiety and depression treatment, pain relief, cancer symptom relief, stress relief, diabetes prevention and inflammation. The growing adoption of cannabidiol (CBD) based products to cure ailments is anticipated to drive the growth of the cannabidiol (CBD) testing market in the forecast period.

• Rise in research on cannabidiol (CBD) for medical use

Many organizations provide authorization to the laboratories that does analytical and well-organized testing of cannabidiol (CBD) derived products. The increasing investment in the research for medical usage of cannabidiol (CBD) by the pharmaceutical and biotechnology companies is one of the major factors impelling the market’s growth. Moreover, the testing of cannabidiol (CBD) derived products is for exhibiting the safety and security of products. Thus, the rising demand of cannabidiol (CBD) for testing in laboratories will boost the demand for cannabidiol (CBD) testing services.

Cannabidiol (CBD) Testing Market Dynamics

Drivers

• Increasing usage of cannabidiol (CBD) numerous medical applications

Cannabidiol is most extensively used for therapeutic purposes owing to the lack of psychoactive effects. In numerous medical applications, cannabidiol is used in variety of problems such as anxiety and depression treatment, pain relief, cancer symptom relief, stress relief, diabetes prevention and inflammation. The growing adoption of cannabidiol (CBD) based products to cure ailments is anticipated to drive the growth of the cannabidiol (CBD) testing market in the forecast period.

• Rise in research on cannabidiol (CBD) for medical use

Many organizations provide authorization to the laboratories that does analytical and well-organized testing of cannabidiol (CBD) derived products. The increasing investment in the research for medical usage of cannabidiol (CBD) by the pharmaceutical and biotechnology companies is one of the major factors impelling the market’s growth. Moreover, the testing of cannabidiol (CBD) derived products is for exhibiting the safety and security of products. Thus, the rising demand of cannabidiol (CBD) for testing in laboratories will boost the demand for cannabidiol (CBD) testing services.

Cannabidiol (CBD) Testing Market Regional Analysis/Insights

The cannabidiol (CBD) testing market is analyzed and market size insights and trends are provided by country, product and software, testing procedures and end-user as referenced above.

North America dominates the cannabidiol (CBD) testing market in terms of revenue and market share. This is mainly due to the growing legalization with the increasing usage of cannabis. Moreover, growing number of marijuana cultivators will expected to enhance the market growth.

North America is expected to be the fastest developing region during the forecast period of 2023-2030 due to growing awareness regarding the benefits of cannabis among the consumers in this region.

Global Cannabidiol (CBD) Testing Market Scope

Product and Software

• Analytical Instruments
• Consumables
• Software

Testing Procedures

• Residual Solvent Screening
• Terpene Profiling
• Potency Testing
• Genetic Testing
• Pesticide Screening
• Heavy Metal Testing
• Microbial Analysis

End-User

• Laboratories
• Cannabis Cultivators
• Research Institutes
• Drug Manufacturers
• Dispensaries

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