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Report
Australia & New Zealand Cannabis Testing Market Forecast 2024-2032
Market Report I 2024-04-02 I 147 Pages I Inkwood Research
KEY FINDINGS
The Australia & New Zealand cannabis testing market is estimated to grow at a CAGR of 13.02% during the forecast period 2024-2032. Various factors promote market growth, such as recognition of cannabis for medical and therapeutic use by the medical fraternity, rise in the number of testing facilities, increasing legalization of the use of cannabis for medicine and research, and rising awareness about cannabis benefits aided by strong community support.
MARKET INSIGHTS
The Australia & New Zealand cannabis testing market is experiencing developing growth, driven by a rise in the number of testing facilities across the countries. This increase reflects the growing demand for cannabis testing services as the industry expands and diversifies. The presence of more testing facilities not only enhances accessibility for businesses but also contributes to the overall maturity and reliability of cannabis testing practices.
Secondly, the market is benefiting from the increasing legalization of cannabis for medical and research purposes. As more countries and regions recognize cannabis's therapeutic potential and allow its use in controlled settings, the demand for accurate and reliable testing becomes paramount. This trend fuels market growth and fosters a more robust ecosystem for scientific research and product development related to cannabis-based medicines and treatments.
However, the market also faces significant challenges, one of which is the lack of standardized regulations across the globe. The absence of uniform regulatory frameworks creates complexities for companies operating in multiple jurisdictions, leading to compliance issues and varying quality standards. This challenge highlights the need for harmonized regulations and industry standards to ensure consistency, transparency, and trustworthiness in cannabis testing practices across international markets. Addressing these challenges will be crucial for sustaining the growth and integrity of the Australia & New Zealand cannabis testing market in the long term.
COMPETITIVE INSIGHTS
Some of the major companies in the Australia & New Zealand cannabis testing market include Agilent Technologies Inc, Eurofins Scientific, PerkinElmer Inc, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation caters to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- The competitive landscape is the theoretical explanation of the key companies based on factors such as market share.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & ESTIMATES
2.2. COUNTRY SNAPSHOT
2.3. COUNTRY ANALYSIS
2.4. SCOPE OF STUDY
2.5. MAJOR MARKET FINDINGS
2.5.1. INCREASE IN VENTURE FUNDING FOR CANNABIS TESTING
2.5.2. LABORATORIES ARE THE LARGEST CONTRIBUTOR TO CANNABIS TESTING MARKET
2.5.3. INHALATION CANNABIS IS THE PROMINENT CANNABIS TYPE
3. MARKET DYNAMICS
3.1. KEY GROWTH ENABLERS
3.1.1. RECOGNITION OF CANNABIS FOR MEDICAL AND THERAPEUTIC USE BY THE MEDICAL FRATERNITY
3.1.2. RISE IN THE NUMBER OF TESTING FACILITIES
3.1.3. INCREASING LEGALIZATION OF THE USE OF CANNABIS FOR MEDICINE AND RESEARCH
3.1.4. RISING AWARENESS ABOUT CANNABIS BENEFITS AIDED BY STRONG COMMUNITY SUPPORT
3.2. KEY CHALLENGES
3.2.1. LACK OF STANDARDIZED REGULATIONS ACROSS THE GLOBE
3.2.2. EXORBITANT COSTS RELATED TO THE LABORATORY ANALYTICAL INSTRUMENTS USED FOR CANNABIS TESTING
4. KEY ANALYTICS
4.1. KEY MARKET TRENDS
4.1.1. TESTING FOR MINOR CANNABINOIDS TAKING CENTER STAGE
4.1.2. INTEGRATION OF BLOCKCHAIN AND TRACK-AND-TRACE SYSTEMS INTO CANNABIS TESTING PROCESS
4.1.3. EMPLOYMENT OF INTEGRATED LABORATORY INFORMATION MANAGEMENT SYSTEMS (LIMS) FOR ACCURATE TEST RESULTS
4.2. PEST ANALYSIS
4.3. PORTER'S FIVE FORCES ANALYSIS
4.3.1. BUYERS POWER
4.3.2. SUPPLIERS POWER
4.3.3. SUBSTITUTION
4.3.4. NEW ENTRANTS
4.3.5. INDUSTRY RIVALRY
4.4. GROWTH PROSPECT MAPPING
4.4.1. GROWTH PROSPECT MAPPING FOR AUSTRALIA & NEW ZEALAND
4.5. MARKET MATURITY ANALYSIS
4.6. KEY BUYING CRITERIA
4.6.1. COST
4.6.2. PRODUCT FEATURE
4.6.3. EFFECTIVENESS
5. MARKET BY CANNABIS TYPE
5.1. SOLID EDIBLE CANNABIS
5.2. INHALING CANNABIS
5.3. LIQUID EDIBLE CANNABIS
5.4. TOPICAL CANNABIS
5.5. OTHER CANNABIS TYPES
6. MARKET BY TEST TYPE
6.1. TERPENE PROFILING
6.2. HEAVY METAL TESTING
6.3. MICROBIAL ANALYSIS
6.4. GENETIC PROFILING
6.5. RESIDUAL SOLVENT SCREENING
6.6. POTENCY TESTING
6.7. OTHER TEST TYPES
7. MARKET BY INSTRUMENT & SOFTWARE
7.1. CANNABIS TESTING INSTRUMENT
7.1.1. CHROMATOGRAPHY INSTRUMENT
7.1.1.1. LIQUID CHROMATOGRAPHY INSTRUMENT
7.1.1.2. GAS CHROMATOGRAPHY INSTRUMENT
7.1.1.3. OTHER CHROMATOGRAPHY INSTRUMENTS
7.1.2. SPECTROSCOPY INSTRUMENT
7.1.2.1. MASS SPECTROMETRY INSTRUMENT
7.1.2.2. ATOMIC SPECTROSCOPY INSTRUMENT
7.1.3. OTHER CANNABIS TESTING INSTRUMENTS
7.2. CONSUMABLE
7.2.1. SAMPLE PREPARATION PRODUCT
7.2.2. STANDARDS AND CRMS
7.2.3. CHROMATOGRAPHY COLUMN
7.2.4. SUPPLIES AND ACCESSORIES
7.3. CANNABIS TESTING SOFTWARE
8. MARKET BY SERVICE
8.1. CANNABIS CULTIVATOR/GROWER
8.2. CANNABIS DRUG MANUFACTURER AND DISPENSARY
9. MARKET BY END-USER
9.1. CANNABIS TESTING LABORATORY
9.2. RESEARCH INSTITUTIONS
9.3. OTHER END-USERS
10. COMPETITIVE LANDSCAPE
10.1. KEY STRATEGIC DEVELOPMENTS
10.1.1. MERGERS & ACQUISITIONS
10.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
10.1.3. PARTNERSHIPS & AGREEMENTS
10.1.4. BUSINESS EXPANSIONS & DIVESTITURES
10.2. COMPANY PROFILE
10.2.1. NOVACHEM
10.2.1.1. COMPANY OVERVIEW
10.2.1.2. SERVICE LIST
10.2.1.3. STRENGTHS & CHALLENGES
10.2.2. AGILENT TECHNOLOGIES INC
10.2.2.1. COMPANY OVERVIEW
10.2.2.2. PRODUCT/SERVICE LIST
10.2.2.3. STRENGTHS & CHALLENGES
10.2.3. PERKINELMER INC
10.2.3.1. COMPANY OVERVIEW
10.2.3.2. PRODUCT/SERVICE LIST
10.2.3.3. STRENGTHS & CHALLENGES
10.2.4. EUROFINS SCIENTIFIC
10.2.4.1. COMPANY OVERVIEW
10.2.4.2. PRODUCT/SERVICE LIST
10.2.4.3. STRENGTHS & CHALLENGES S
10.2.5. SHIMADZU CORPORATION
10.2.5.1. COMPANY OVERVIEW
10.2.5.2. PRODUCT/SERVICE LIST
10.2.5.3. STRENGTHS & CHALLENGES
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT - CANNABIS TESTING
TABLE 2: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY CANNABIS TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 3: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY CANNABIS TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 4: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY TEST TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 5: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY TEST TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 6: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY INSTRUMENT & SOFTWARE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 7: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY INSTRUMENT & SOFTWARE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 8: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY CANNABIS TESTING INSTRUMENT, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 9: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY CANNABIS TESTING INSTRUMENT, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 10: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY CHROMATOGRAPHY INSTRUMENT, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 11: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY CHROMATOGRAPHY INSTRUMENT, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 12: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY SPECTROSCOPY INSTRUMENT, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 13: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY SPECTROSCOPY INSTRUMENT, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 14: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY CONSUMABLE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 15: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY CONSUMABLE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 16: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY SERVICE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 17: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY SERVICE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 18: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY END-USER, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 19: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY END-USER, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 20: LIST OF MERGERS & ACQUISITIONS
TABLE 21: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 22: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 23: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
LIST OF FIGURES
FIGURE 1: MAJOR PHYTOCHEMICALS IDENTIFIED IN CANNABIS
FIGURE 2: KEY MARKET TRENDS
FIGURE 3: PORTER'S FIVE FORCES ANALYSIS
FIGURE 4: GROWTH PROSPECT MAPPING FOR AUSTRALIA & NEW ZEALAND
FIGURE 5: MARKET MATURITY ANALYSIS
FIGURE 6: KEY BUYING CRITERIA
FIGURE 7: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, GROWTH POTENTIAL, BY CANNABIS TYPE, IN 2023
FIGURE 8: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY SOLID EDIBLE CANNABIS, 2023-2032 (IN $ MILLION)
FIGURE 9: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY INHALING CANNABIS, 2023-2032 (IN $ MILLION)
FIGURE 10: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY LIQUID EDIBLE CANNABIS, 2023-2032 (IN $ MILLION)
FIGURE 11: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY TOPICAL CANNABIS, 2023-2032 (IN $ MILLION)
FIGURE 12: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY OTHER CANNABIS TYPES, 2023-2032 (IN $ MILLION)
FIGURE 13: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, GROWTH POTENTIAL, BY TEST TYPE, IN 2023
FIGURE 14: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY TERPENE PROFILING, 2023-2032 (IN $ MILLION)
FIGURE 15: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY HEAVY METAL TESTING, 2023-2032 (IN $ MILLION)
FIGURE 16: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY MICROBIAL ANALYSIS, 2023-2032 (IN $ MILLION)
FIGURE 17: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY GENETIC PROFILING, 2023-2032 (IN $ MILLION)
FIGURE 18: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY RESIDUAL SOLVENT SCREENING, 2023-2032 (IN $ MILLION)
FIGURE 19: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY POTENCY TESTING, 2023-2032 (IN $ MILLION)
FIGURE 20: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY OTHER TEST TYPES, 2023-2032 (IN $ MILLION)
FIGURE 21: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, GROWTH POTENTIAL, BY INSTRUMENT & SOFTWARE, IN 2023
FIGURE 22: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY CANNABIS TESTING INSTRUMENT, 2023-2032 (IN $ MILLION)
FIGURE 23: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, GROWTH POTENTIAL, BY CHROMATOGRAPHY INSTRUMENT, IN 2023
FIGURE 24: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY LIQUID CHROMATOGRAPHY INSTRUMENT, 2023-2032 (IN $ MILLION)
FIGURE 25: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY GAS CHROMATOGRAPHY INSTRUMENT, 2023-2032 (IN $ MILLION)
FIGURE 26: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY OTHER CHROMATOGRAPHY INSTRUMENTS, 2023-2032 (IN $ MILLION)
FIGURE 27: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY SPECTROSCOPY INSTRUMENT, 2023-2032 (IN $ MILLION)
FIGURE 28: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, GROWTH POTENTIAL, BY SPECTROSCOPY INSTRUMENT, IN 2023
FIGURE 29: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY MASS SPECTROMETRY INSTRUMENT, 2023-2032 (IN $ MILLION)
FIGURE 30: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY ATOMIC SPECTROSCOPY INSTRUMENT, 2023-2032 (IN $ MILLION)
FIGURE 31: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY OTHER CANNABIS TESTING INSTRUMENTS, 2023-2032 (IN $ MILLION)
FIGURE 32: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY CONSUMABLE, 2023-2032 (IN $ MILLION)
FIGURE 33: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, GROWTH POTENTIAL, BY CONSUMABLE, IN 2023
FIGURE 34: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY SAMPLE PREPARATION PRODUCT, 2023-2032 (IN $ MILLION)
FIGURE 35: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY STANDARDS AND CRMS, 2023-2032 (IN $ MILLION)
FIGURE 36: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY CHROMATOGRAPHY COLUMN, 2023-2032 (IN $ MILLION)
FIGURE 37: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY SUPPLIES AND ACCESSORIES, 2023-2032 (IN $ MILLION)
FIGURE 38: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY CANNABIS TESTING SOFTWARE, 2023-2032 (IN $ MILLION)
FIGURE 39: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, GROWTH POTENTIAL, BY SERVICE, IN 2023
FIGURE 40: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY CANNABIS CULTIVATOR/GROWER, 2023-2032 (IN $ MILLION)
FIGURE 41: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY CANNABIS DRUG MANUFACTURER AND DISPENSARY, 2023-2032 (IN $ MILLION)
FIGURE 42: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, GROWTH POTENTIAL, BY END-USER, IN 2023
FIGURE 43: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY CANNABIS TESTING LABORATORY, 2023-2032 (IN $ MILLION)
FIGURE 44: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY RESEARCH INSTITUTION, 2023-2032 (IN $ MILLION)
FIGURE 45: AUSTRALIA & NEW ZEALAND CANNABIS TESTING MARKET, BY OTHER END-USERS, 2023-2032 (IN $ MILLION)
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