The size of the European cannabis testing market is estimated to grow USD 580.60 Million by 2027 from USD 327.98 Million in 2022, growing at a CAGR of 12.1% during the forecast period. The growth of the European Cannabis Testing Market is primarily driven by the government's funding of cannabis education for physicians and the growing demand for cannabis quality research activities.
The increased demand for cannabis testing services due to an increase in contamination incidents is the primary driver of cannabis testing market expansion in Europe. The cannabis plant is exposed to various pollutants during the cultivation phase, including heavy metals from the soil, fungi, molds, and pesticides. As a result, many regulatory agencies have begun establishing maximum concentration limits on residual solvents, insecticides, pesticides, heavy metals, microorganisms, and mycotoxins for analyzing plant samples. It also resulted in opening a slew of new labs, particularly in areas where cultivation is increasing.
Several research on the overall composition of cannabis has revealed that it has various medical characteristics and can be used to treat chronic and fatal diseases such as cancer. Growing investment in cannabis research and development has opened up a slew of new possibilities for cannabis use. As a result, the European market for cannabis testing equipment has grown. Increased government financing, focus on cannabis use, and the high need for research initiatives to improve the quality of cannabis are all contributing to the region's market growth.
However, the market's expansion is predicted to face a few difficulties, such as a lack of uniform industry standards and high costs associated with laboratory analytical instruments used for cannabis testing. Furthermore, lack of standardization in rules and regulations and insufficient staff are likely to hinder the market's growth. In addition, the use of cannabis as a street drug and issues with CBD oil may negatively impact the market's growth during the forecast period.
This research report on the European cannabis testing market has been segmented and sub-segmented into the following categories:
By Testing Procedures:
By Product & Software:
Over the forecast period, the European cannabis testing market is one of the fastest-growing regional markets globally. It is predicted to account for a substantial share during the forecast period. The increasing legalization of cannabis in major European nations and the expanding use of the plant in medicine development and research are expected to fuel the market for cannabis testing services. Furthermore, the cannabis product industry in the region is carefully regulated. For the growing patient population, Europe is poised to legalize medical cannabis.
Over the forecast period, the number is expected to grow at an exponential rate. As a result of this growth in numbers, establishing reliable testing services to ensure the quality of produced cannabis has become a need. The United Kingdom's government has declared medicinal cannabis to be legal. The use of cannabis in pesticides in Europe is the primary driver of cannabis demand rise. An increase in cannabis testing facilities has spurred the demand for cannabis in Europe.
The UK market currently dominates this region. The legalization of restorative cannabis and the growing number of cannabis testing labs, particularly in countries like Spain and Germany, as well as the growing use of LIMS (Laboratory Information Management Systems) in cannabis testing labs, are all factors influencing the market's growth. In addition, the European government's sponsorship of cannabis education for doctors and the growing demand for cannabis quality studies are driving the rise of the cannabis testing market.
KEY MARKET PLAYERS:
A few of the promising companies operating in the European cannabis testing market profiled in the report are Agilent Technologies, Inc., Shimadzu Corporation, Waters Corporation, PerkinElmer, Inc., AB SCIEX LLC, Millipore Sigma, Restek Corporation, LabLynx, Inc. (U.S.), Steep Hill Labs, Inc., PharmLabs, LLC, SC Laboratories, Inc., Digipath Labs, Inc., CannaSafe Analytics, and Accelerated Technology Laboratories, Inc.
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