Cannabis testing is a highly competitive and evolving industry with the presence of various well-established as well as emerging players in the market. Shimadzu Corporation (Japan), Agilent Technologies (U.S.), PerkinElmer, Inc. (U.S.), Millipore Sigma (U.S.), AB Sciex LLC (a Danaher Company) (U.S.), Restek Corporation (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Waters Corporation (U.S.), Fritsch Milling (U.S.), Accelerated Technology Laboratories (U.S.), CannaSys, Inc. (U.S.), PharmLabs, LLC (U.S.), Guardian Data Systems, Inc. (U.S.), and Lab Lynx, Inc. (U.S.) are some of the prominent players operating in the cannabis products & software market. On the other hand, Steep Hill Halent Laboratories, (U.S.), DigiPath, Inc. (U.S.), SC Laboratories (U.S.), CannaSafe Analytics (U.S.), and CW Analytical Laboratories (U.S.) are some of leading players operating in the cannabis testing market.
Other players in the cannabis testing services market include CW Analytical (U.S.), Green Leaf Labs (U.S.), Emerald Scientific (U.S.), Azzur Labs (U.S.), Aurum Labs (U.S.), Green Hill Labs (U.S.), Phyta Tech CO LLC (U.S.), ProVerde Labs (U.S.), Neopharm Labs Inc. (Canada), Experchem Laboratories Inc. (Canada), A&L Canada Laboratories Inc. (Canada), and Anandia Laboratories Inc. (Canada).
Companies are focusing of organic as well as inorganic growth strategies such as product launches, product approvals, agreements, partnerships, and collaborations to increase their presence in the market. Product launches and approvals accounted for the largest share of overall growth strategies adopted by market players between 2013 and 2016. Various new and technologically advanced products were launched during this period. For instance, in November 2016, Waters Corporation (U.S.) introduced two novel chemistries—CORTECS T3 and CORTECS Shield RP 18. These new CORTECS column chemistries allow scientists to obtain more information per analysis and reduce the cost of analyzing complex samples such as biomarkers, natural products, counterfit cosmetics, synthetic cannabinoids, veterinary drugs, drinking water, and vitamins. Also, in July 2016, PerkinElmer introduced the Avio 200 Inductively Coupled Plasma Optical Emission Spectrometer (ICP-OES). This compact spectrometer enables quick analysis of complex food, industrial, and environmental sample. Key players who adopted this growth strategy include Agilent Technologies, Inc. (U.S.), Shimadzu Corporation (Japan), PerkinElmer, Inc. (U.S.), and Waters Corporation (U.S.).
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=46932450
Expansions and investments was the second most preferred growth strategy adopted by the key players in this market. For instance, in February 2016, Shimadzu Corporation established Shimadzu Manufacturing Asia Sdn. Bhd. (SMA), the company’s analytical measuring instrument manufacturing facility in Malaysia. This expansion enabled the company to expand its footprint in the ASEAN region. In addition, in October 2015, DigiPath, Inc. opened its new cannabis testing facility in Nevada, U.S. This expansion helped the company to strengthen their presence in the U.S. cannabis testing market.
Such expansions will help market players to expand their geographic presence and strengthen their customer base. This strategy was majorly adopted by Shimadzu Corporation (Japan), PerkinElmer, Inc. (U.S.), Waters Corporation (U.S.), Steep Hill Labs, Inc. (U.S.), and DigiPath Labs (U.S.).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the „Growth Engagement Model – GEM“. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write „Attack, avoid and defend“ strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, „Knowledgestore“ connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com