The Global Cannabis Testing Services Market size was valued at USD 906.4 million in 2018 and is anticipated to grow at a CAGR of 11.4% during the forecast period. The cannabis market is highly influenced by rigorous legalization efforts, that are aiming for approval of cannabis for medicinal or recreational purposes. Various governments and regulatory authorities are taking efforts to permit cannabis, because of its medicinal advantages.
Key Developments in Cannabis Testing Services Market:
• In November 2018, University of Moncton, located in New Brunswick, Canada, announced a partnership with the Government of Canada, Genome Atlantic, Genome Canada, New Brunswick Innovation Foundation, and Organigram to advance cannabis research and to increase its productivity. The purpose of this collaborative, innovative, and research-driven partnership is to help improve the productivity and quality of cannabis products.
• In November 2018, Strainprint Technologies Ltd., a company focused on cannabis data and analytics, announced a partnership with Israel-based companies, Lumir Lab and Gynica to conduct the world's first international clinical study on the use of cannabis for the treatment of endometriosis. The objective of the study is to develop clinically-validated cannabinoid-based products that can be approved for international distribution.
The key leading players in the market include SC Laboratories Inc., Eurofins Scientific, EVIO Labs, ProVerde Laboratories, Inc., Praxis laboratory, Cascadia Labs, Encore labs, SGS Canada Inc., Pharm Labs LLC, and Agricore Laboratories.