In a recent report titled the “Asia Pacific Cannabis Testing Market to 2025 – Regional Analysis and Forecasts by Type; Services; End User and Country,” The Insight Partners concludes that the cannabis testing market in the Asia Pacific region is expected to reach approximately $422.74 million USD in 2025. That is compared to just $132.38 million USD in 2017.
For the purposes of this report, the “cannabis testing market” included services such as potency testing, microbial analysis, residual solvent screening, heavy metal testing, pesticide screening, terpene profiling, and genetic testing.
While the overall Asia Pacific cannabis testing market is estimated to grow with a CAGR of 15.8% from 2018-2025, the potency testing segment is anticipated to grow at a CAGR of 16.9% during the forecast period.
These rapid growth rate projections are based primarily on the anticipated increase in demand through domestic manufacturing as restrictions are lifted. Leading the charge in the Asia Pacific region is Thailand, which legalized cannabis for both research and medicinal use back in December 2018.
Until other countries in the region begin to change their stance on cannabis, the highly restrictive use of marijuana is likely to have a negative impact on the market’s growth. In the interim, be sure to subscribe to updates here so you never miss an important update.
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