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KEY FINDINGS
The Asia-Pacific cannabis testing market is anticipated to rise at a CAGR of 13.29% over the forecast period from 2019 to 2027. Cannabis is widely used for pain management and is often used in the medical industry to cure and treat certain disorders such as epilepsy, brain tumors, etc., which increases the demand for cannabis testing in the Asia Pacific market.
MARKET INSIGHTS
The recent legalization of cannabis for medical and therapeutic use in many Asian countries combined with the high venture funding for cannabis testing is mainly responsible for driving the Asia-Pacific cannabis testing market. The market is segmented according to the testing methods, end-users, product and software, and the cannabis type. However, there is a possibility of the market facing some restraints on account of the low availability of technicians and scientist in the field and the high capital required for initial setup of the testing facility.
The economies of China, India, Japan, Australia, South Korea and the remaining countries banding together to form Rest of Asia Pacific regional segment are considered for the market analysis.
COMPETITIVE INSIGHTS
PerkinElmer, Inc., GenTech Scientific, Digipath, Inc., Urofins Proxy Laboratories, Eli Lilly, SDpharma Labs LLC (PharmLabs LLC), Anresco Laboratories, Accelerated Technology Laboratories, Inc., Shimadzu Corporation, Test Lab Amsterdam, SC Laboratories, Inc., Waters Corporation, LabLynx, Inc., Restek Corporation, Thermo Fisher Scientific, Inc., CannaSafe Analytics, Agilent Technologies, Inc., AB Sciex LLC, Steep Hill Halent Laboratories, Inc., Pharmalab, Sigma-Aldrich (Acquired By Merck Group), Cannabilab etc. are few of the leading companies in this market.