European cannabis testing market expected to reach 7.9m by 2025
The European cannabis testing market is estimated to grow with a CAGR of 10.8% from 2018-2025.
The growth of the cannabis testing market is primarily attributed to the European government funding cannabis education for doctors, and the increasing demand for research activities for cannabis quality.
A new report, entitled Europe Cannabis Testing Market to 2025 – Regional Analysis and Forecasts by Type; Services; End User and Country, has outlined the growth of the European testing market up until 2025, and highlights that cannabis used as a street drug and trouble with CBD oil are likely to pose a negative impact on the market growth.
Cannabis in clinical practise
On the use of cannabis in clinical practice, to instruct local healthcare providers, various cannabis experts were invited to Macedonia, in 2016. The programme was held in Skopje and was supported and funded by the Macedonian Ministry of Health.
Cannabis provides the unique opportunities in Macedonia, where the medical system is in a stage of evolution and modernisation.
Local medical specialists are now able to prescribe cannabis in the country. Considering this, Macedonian cannabis promoters worked with local governments and created the medical cannabis training programme in an effort to support doctors and their patients.
Currently, the impetus of the Macedonian medical cannabis movement is moving quickly, and the public opinion on cannabis has also changed dramatically in the region.
The medical marijuana resolution in the region urges the Commission and member states to address regulatory, financial and cultural barriers which burden scientific research and invite them to fund research. Thus, due to the above advancements, the cannabis testing market is expected to grow at a rapid pace during the forecast period.
Product segment market share
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 a 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 11.1% in 2018 to 2015 owing to increasing analytical services and medicinal cannabis services in testing cannabis.
The Europe 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 11.8% 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 also expected to dominate the market in 2025 owing to increasing number of diagnostic testing performed in the reference labs for the numerous diseases.
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), European Research Area (ERA), 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.
Source: 420 Intel – Europe