Australia & New Zealand Cannabis Testing Market Forecast 2024-2032
KEY FINDINGS
The Australia & New Zealand cannabis testing market is estimated to grow at a CAGR of 13.02% during the forecast period 2024-2032. Various factors promote market growth, such as recognition of cannabis for medical and therapeutic use by the medical fraternity, rise in the number of testing facilities, increasing legalization of the use of cannabis for medicine and research, and rising awareness about cannabis benefits aided by strong community support.
MARKET INSIGHTS
The Australia & New Zealand cannabis testing market is experiencing developing growth, driven by a rise in the number of testing facilities across the countries. This increase reflects the growing demand for cannabis testing services as the industry expands and diversifies. The presence of more testing facilities not only enhances accessibility for businesses but also contributes to the overall maturity and reliability of cannabis testing practices.
Secondly, the market is benefiting from the increasing legalization of cannabis for medical and research purposes. As more countries and regions recognize cannabis's therapeutic potential and allow its use in controlled settings, the demand for accurate and reliable testing becomes paramount. This trend fuels market growth and fosters a more robust ecosystem for scientific research and product development related to cannabis-based medicines and treatments.
However, the market also faces significant challenges, one of which is the lack of standardized regulations across the globe. The absence of uniform regulatory frameworks creates complexities for companies operating in multiple jurisdictions, leading to compliance issues and varying quality standards. This challenge highlights the need for harmonized regulations and industry standards to ensure consistency, transparency, and trustworthiness in cannabis testing practices across international markets. Addressing these challenges will be crucial for sustaining the growth and integrity of the Australia & New Zealand cannabis testing market in the long term.
COMPETITIVE INSIGHTS
Some of the major companies in the Australia & New Zealand cannabis testing market include Agilent Technologies Inc, Eurofins Scientific, PerkinElmer Inc, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors such as market share.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.
- 1. Research Scope & Methodology
- 1.1. Study Objectives
- 1.2. Methodology
- 1.3. Assumptions & Limitations
- 2. Executive Summary
- 2.1. Market Size & Estimates
- 2.2. Country Snapshot
- 2.3. Country Analysis
- 2.4. Scope Of Study
- 2.5. Major Market Findings
- 2.5.1. Increase In Venture Funding For Cannabis Testing
- 2.5.2. Laboratories Are The Largest Contributor To Cannabis Testing Market
- 2.5.3. Inhalation Cannabis Is The Prominent Cannabis Type
- 3. Market Dynamics
- 3.1. Key Growth Enablers
- 3.1.1. Recognition Of Cannabis For Medical And Therapeutic Use By The Medical Fraternity
- 3.1.2. Rise In The Number Of Testing Facilities
- 3.1.3. Increasing Legalization Of The Use Of Cannabis For Medicine And Research
- 3.1.4. Rising Awareness About Cannabis Benefits Aided By Strong Community Support
- 3.2. Key Challenges
- 3.2.1. Lack Of Standardized Regulations Across The Globe
- 3.2.2. Exorbitant Costs Related To The Laboratory Analytical Instruments Used For Cannabis Testing
- 4. Key Analytics
- 4.1. Key Market Trends
- 4.1.1. Testing For Minor Cannabinoids Taking Center Stage
- 4.1.2. Integration Of Blockchain And Track-and-trace Systems Into Cannabis Testing Process
- 4.1.3. Employment Of Integrated Laboratory Information Management Systems (Lims) For Accurate Test Results
- 4.2. Pest Analysis
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Buyers Power
- 4.3.2. Suppliers Power
- 4.3.3. Substitution
- 4.3.4. New Entrants
- 4.3.5. Industry Rivalry
- 4.4. Growth Prospect Mapping
- 4.4.1. Growth Prospect Mapping For Australia & New Zealand
- 4.5. Market Maturity Analysis
- 4.6. Key Buying Criteria
- 4.6.1. Cost
- 4.6.2. Product Feature
- 4.6.3. Effectiveness
- 5. Market By Cannabis Type
- 5.1. Solid Edible Cannabis
- 5.2. Inhaling Cannabis
- 5.3. Liquid Edible Cannabis
- 5.4. Topical Cannabis
- 5.5. Other Cannabis Types
- 6. Market By Test Type
- 6.1. Terpene Profiling
- 6.2. Heavy Metal Testing
- 6.3. Microbial Analysis
- 6.4. Genetic Profiling
- 6.5. Residual Solvent Screening
- 6.6. Potency Testing
- 6.7. Other Test Types
- 7. Market By Instrument & Software
- 7.1. Cannabis Testing Instrument
- 7.1.1. Chromatography Instrument
- 7.1.1.1. Liquid Chromatography Instrument
- 7.1.1.2. Gas Chromatography Instrument
- 7.1.1.3. Other Chromatography Instruments
- 7.1.2. Spectroscopy Instrument
- 7.1.2.1. Mass Spectrometry Instrument
- 7.1.2.2. Atomic Spectroscopy Instrument
- 7.1.3. Other Cannabis Testing Instruments
- 7.2. Consumable
- 7.2.1. Sample Preparation Product
- 7.2.2. Standards And Crms
- 7.2.3. Chromatography Column
- 7.2.4. Supplies And Accessories
- 7.3. Cannabis Testing Software
- 8. Market By Service
- 8.1. Cannabis Cultivator/Grower
- 8.2. Cannabis Drug Manufacturer And Dispensary
- 9. Market By End-user
- 9.1. Cannabis Testing Laboratory
- 9.2. Research Institutions
- 9.3. Other End-users
- 10. Competitive Landscape
- 10.1. Key Strategic Developments
- 10.1.1. Mergers & Acquisitions
- 10.1.2. Product Launches & Developments
- 10.1.3. Partnerships & Agreements
- 10.1.4. Business Expansions & Divestitures
- 10.2. Company Profile
- 10.2.1. Novachem
- 10.2.1.1. Company Overview
- 10.2.1.2. Service List
- 10.2.1.3. Strengths & Challenges
- 10.2.2. Agilent Technologies Inc
- 10.2.2.1. Company Overview
- 10.2.2.2. Product/Service List
- 10.2.2.3. Strengths & Challenges
- 10.2.3. Perkinelmer Inc
- 10.2.3.1. Company Overview
- 10.2.3.2. Product/Service List
- 10.2.3.3. Strengths & Challenges
- 10.2.4. Eurofins Scientific
- 10.2.4.1. Company Overview
- 10.2.4.2. Product/Service List
- 10.2.4.3. Strengths & Challenges S
- 10.2.5. Shimadzu Corporation
- 10.2.5.1. Company Overview
- 10.2.5.2. Product/Service List
- 10.2.5.3. Strengths & Challenges
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