Cannabis is a psychoactive drug which is extracted from a genus of cannabaceae family. Cannabis is also termed as, marijuana. Over the past few decades, the use of cannabis for a medical purpose has been increased drastically and is described as medical marijuana. Medical marijuana is still considered in its introduction phase in the medical health industry. Growing research in this area has suggested that marijuana can be prescribed to treat a number of health conditions such as chronic pain, muscle spasm, insomnia, and reduce vomiting during chemotherapy among the other health conditions. Companies are progressively investing in research in the field of medical marijuana or automated cannabis testing.
Automated Cannabis Testing Market: Drivers and Restraints
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Automated cannabis testing market is expected to show significant growth over the forecast period due to the increasing adoption of automated cannabis testing among people and prescribers as automated cannabis testing can be used without much of the concern of feeling of discomfort. Growing government legalizations on the distribution of medical marijuana are also expected to fuel the growth of automated cannabis testing market. Furthermore, rise in the need of treatment among the geriatric population for chronic diseases, and the rising number of medical marijuana clubs which generally promote the quality associated with medical marijuana and awareness programs conducted by public and private associations are some of the other factors contributing in driving the growth of the global automated cannabis testing market. Stringent regulations are expected to hamper the growth of the global automated cannabis testing market over the forecast period. In addition, the lack of standardization throughout the industry is a challenge that may hinder the growth of the automated cannabis testing market during the forecast period.
Automated Cannabis Testing Market: Segmentation
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The global automated cannabis testing market is segmented by product type, application, end user, and region:
Based on product type, the global automated cannabis testing market is segmented into:
- Chromatography Based Analyzer
- Spectroscopy Based Analyzer
Based on application, the global automated cannabis testing market is segmented into:
- Pain Management
- Seizures
- Sclerosis
- Others
Based on the end user, the global automated cannabis testing market is segmented into:
- Consumers
- Regulators
- Laboratories
- Others
Automated Cannabis Testing Market: Overview
The global automated cannabis testing market is anticipated to witness moderate growth over the forecast period. As the automated cannabis testing market matures, the local and state legislation are becoming more stringent. Also, the legalized automated cannabis testing market has opened up a new world of opportunities and challenges for analytical scientists. It is also observed that there is an increase in the prevalence of cannabis used in the U.S. due to ongoing changes in legalization in some states. Some of the end users for cannabis analyzers include consumers, regulators, laboratories, and others.
Automated Cannabis Testing Market: Regional Outlook
North America automated cannabis testing market is anticipated to hold maximum market share in the global automated cannabis testing market due to the spending on research activities is more in North America region when compared with the global health spending. Similarly, Europe automated cannabis testing market is expected to show a moderate growth owing to acquisition and collaboration of the leading manufacturers. The Middle East & Africa automated cannabis testing market is projected to account minimum share in the global automated cannabis testing market as very few countries in the region have regularized medical marijuana laws. China automated cannabis testing market is expected to be a competitive market with many regional players involved in the automated cannabis testing market.
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Automated Cannabis Testing Market: Key Players
Examples of some of the key players in the global automated cannabis testing market are Medicinal Genomics Corp., Hamilton Company, PerkinElmer Inc., Agilent Technologies, Inc., Todaro robotics, QUANTUM ANALYTICS, Shimadzu Scientific Instruments, and others. In order to gain market share in the global automated cannabis testing market, the key players re majorly focusing to get product approvals in order to expand their geographical presence globally. Furthermore, the adoption of organic and inorganic market strategies by automated cannabis testing market players helps the automated cannabis testing market to grow at a moderate growth rate.