Dublin, April 19, 2019 (GLOBE NEWSWIRE) -- The "Asia Pacific Cannabis Testing Market to 2025 - Regional Analysis and Forecasts by Type; Services; End User and Country" report has been added to ResearchAndMarkets.com's offering.
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.
Key Topics Covered:
Part 1. Introduction
Part 2. Asia Pacific Cannabis Testing Market - Key Takeaways
Part 3. Asia Pacific Cannabis Testing Market - Market Landscape
3.1 Overview
3.2 Market Segmentation
3.3 Pest Analysis
Part 4. Asia Pacific Cannabis Testing Market - Key Market Dynamics
4.1 Key Market Drivers
4.1.1 Growing Adoption of Lims
4.1.2 Cannabis Legalization For Medical and Recreational Purpose
4.2 Key Market Restraints
4.2.1 Restricted Use of Cannabis
4.3 Key Market Opportunities
4.3.1 Increased Demand Through Domestic Manufacturing
4.4 Future Trends
4.4.1 Rise In Geriatric Population Increases the Need of Treatment For Chronic Diseases
4.5 Impact Analysis
Part 5. Cannabis Market - Asia Pacific Analysis
5.1 Asia Pacific Cannabis Market Revenue Forecasts and Analysis
5.2 Market Positioning
5.3 Performance of Key Players
5.4 Expert Opinions
Part 6. Asia Pacific Cannabis Market Analysis - by Type
6.1 Overview
6.2 Europe Cannabis Market, by Type, 2017 & 2025 (%)
6.3 Asia Pacific Cannabis Market Revenue and Forecasts To 2025, by Type (US$ Mn)
6.4 Product Market
6.4.1 Overview
6.4.2 Asia Pacific Product Market Revenue and Forecasts To 2025 (US$ Mn)
6.4.3 Analytical Instruments Market
6.4.3.3 Chromatography Instruments Market
6.4.3.3.3 Liquid Chromatography Market
6.4.3.3.4 Gas Chromatography Market
6.4.3.4 Spectroscopy Market
6.4.3.4.1 Overview
6.4.3.4.2 Asia Pacific Spectroscopy Market Revenue and Forecasts To 2025 (US$ Mn)
6.4.3.4.3 Mass Spectrometry Market
6.4.3.4.4 Atomic Spectrometry Market
6.4.4 Consumables Market
6.4.4.1 Overview
6.4.4.2 Asia Pacific Consumables Market Revenue and Forecasts To 2025 (US$ Mn)
6.4.4.3 Chromatography Columns Market
6.4.4.4 Standard & Crms Market
6.4.4.5 Supplies and Accessories Market
6.4.5 Software Market
Part 7. Asia Pacific Cannabis Testing Market Analysis - by Service
7.1 Overview
7.2 Europe Cannabis Market, by Service, 2017 & 2025 (%)
7.3 Asia Pacific Cannabis Market Revenue and Forecasts To 2025, by Service (US$ Mn)
7.4 Potency Testing Market
7.5 Terpene Profiling Testing Market
7.6 Pesticide Screening Market
7.7 Residual Solvent Testing Market
7.8 Heavy Metal Testing Market
7.9 Microbial Analysis Market
7.10 Genetic Testing Market
Part 8. Asia Pacific Cannabis Testing Market Analysis - by End User
8.1 Overview
8.2 Europe Cannabis Market, by End User, 2017 & 2025 (%)
8.3 Asia Pacific Cannabis Market Revenue and Forecasts To 2025, by End User (US$ Mn)
8.4 Testing Laboratories Market
8.5 Drug Manufacturers Market
8.6 Research Institutes Market
Part 9. Asia Pacific Cannabis Testing Market Revenue and Forecasts To 2025
Part 10. Cannabis Testing Market -Industry Landscape
10.1 Overview
10.2 Growth Strategies In the Cannabis Testing Market, 2016-2018
10.3 Organic Developments
10.4 Organic Growth Strategies In the Cannabis Testing Market, 2016-2018
10.5 Product Launch
10.6 Product Approval
10.7 Others
10.8 Inorganic Developments
10.9 Inorganic Growth Strategies In the Cannabis Testing Market, 2016-2018
10.10 Acquisitions
10.11 Agreements
10.12 Collaborations
Part 11. Cannabis Market-Key Company Profiles
- Agilent Technologies
- PerkinElmer, Inc.
- Shimadzu Corporation
- SCIEX
- Merck KGaA
- Restek Corporation
- Waters
- CannaSafe Analytics
- Accelerated Technology Laboratories, Inc.
- Digipath Labs.
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