The market is anticipated to grow with a CAGR of 7. 7% from 2020 to 2027. The growth of the market in the region is attributed to the factors such as increasing government funding and focus for cannabis use and increasing demand for research activities to improve the quality of cannabis.
New York, Feb. 26, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Europe Cannabis Testing Market Forecast to 2027 – COVID-19 Impact and Regional Analysis by Product ; Service ; End User, and Country” – https://www.reportlinker.com/p06004156/?utm_source=GNW
However, the cannabis used as a street drug and trouble with CBD oil are the factors negatively impacting the growth of the market in the coming years.
With the legalization of Cannabis in Europe, producers are looking for a quick and accurate means of determining their products’ quality and potency.The growing use of Cannabis results in increasing demand for Cannabis testing, which, in turn promotes the research activities in the region.
The European Parliament is calling for an EU-wide policy for medical Cannabis and properly funded scientific research. To achieve this, in February 2019, members of the European Parliament (MEPs) adopted a resolution on the use of Cannabis for medicinal purposes.
Various European countries have legalized the medical use of Cannabis or cannabinoids and are considering their legislation changes for legalization of Cannabis. The main purpose of the resolution is to draw a clear distinction between medical Cannabis and other Cannabis uses.
However, no EU country authorizes the smoking or home-growing of Cannabis for medical purposes.At the same time, the World Health Organization (WHO) has officially recommended that the Cannabis compound cannabidiol (CBD) should not be classified as a controlled substance.
However, at present, there are no EU-wide rules for either the medical or recreational use of Cannabis in the region.
The Cannabis or cannabinoids have therapeutic effects in stimulating appetite and alleviating mental disorders or epilepsy, asthma, cancer, and Alzheimer’s. The MEPs’ primary purpose is to address research gaps on medical Cannabis in the region and call member states to seize the potential of Cannabis-based medicines.
Thus, the need for more research in the therapeutic area and stimulating innovation regarding medicinal Cannabis projects is expected to witness rapid growth of the market in the region.
Based on product, the Europe cannabis testing market is segmented into chromatography instruments, spectroscopy, consumables, and software.The market players are offering diverse portfolio of cannabis testing products to the healthcare industry for innovations in the technologies.
In 2019, the chromatography instruments segment held the largest share of the market and is expected to witness the highest CAGR in the market owing to increasing analytical services and medicinal cannabis testing services.
Based on service, the European cannabis market is segmented into potency testing, microbial analysis, residual solvent screening, heavy metal testing, pesticide screening, terpene profiling, and genetic testing. In 2019, potency testing segment held the largest share of the market, and is expected to grow at the fastest rate during the coming years.
Based on end user, the Europe cannabis testing market is segmented into testing laboratories, drug manufacturers, and research institutes.In 2019, the testing laboratories segment held the largest share of the market, and is expected to grow at the fastest rate during the coming years.
The growth of the segment is attributed to the increasing number of diagnostic testing performed in the reference labs for numerous diseases.
National Research Foundation, National Center for Biotechnology Information, and European Union and National Science Foundation are among the major primary and secondary sources for the Europe Cannabis testing market.
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