The global cannabis testing services market size is expected to reach $5.39 billion by 2030, registering a compound annual growth rate (CAGR) of 17.21% from 2024 to 2030, according to a new report.
Conducted by Research and Markets, the report shows that the current value of the cannabis testing market is $2.1 billion, an increase of $300 million over the 2023 value.
“Several nations across the globe have legalized cannabis for medical and recreational purposes, which has led to the recognition of the medicinal benefits of cannabis and cannabis-infused products”, states the report. “For instance, in April 2024, Germany legalized cannabis for recreational purposes, and under this law, adults over 18 can possess 25 grams of dried cannabis and grow up to three marijuana plants at home. Moreover, research has revealed that cannabis can provide significant relief from adverse effects, such as chronic pain associated with multiple sclerosis and chemotherapy-induced nausea. Such factors boost market growth.”
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