U.S. Cannabis Testing Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.
The growing demand for medical cannabis for the treatment of various ailments has led to the growth of U.S. cannabis testing market. This rise in demand has further resulted in implementation of strict government policies for testing of cannabis to be used in medicinal products, thereby propelling the industry outlook.
Moreover, increasing number of applications for medical cannabis in the medical marijuana industry to treat ailments such as chronic pain and epilepsy will likely bring forth a stimulating period of growth for the medical cannabis testing market during the projected time span.
Furthermore, various research institutes are actively focusing on exploring novel applications of cannabis. To that end, increasing investment in R&D activities is likely to further increase the cannabis testing market over the forthcoming years.
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The increasing discovery of the medicinal benefits offered by marijuana have driven the demand for legalization, and several states across U.S. have subsequently legalized the usage of the product for treating specific medical conditions. The legalization is further anticipated to increase the need for laboratories to test safety and potency, thereby driving the industry growth.
In addition, awareness for medical benefits of marijuana is likely to increase the number of users, establishing the need of safety standards for the product. The above factors will assist in expansion of the U.S. cannabis testing market during the projected time period.
Companies like SC Labs, Digipath, EVIO, Steadfast Labs, Alliance Analytical Laboratories, Steep Hill and PSI Labs are some of the notable industry players.