Mexico Cannabis Testing Services Market Size & Outlook
Mexico cannabis testing services market, 2018-2030 (US$M)
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Mexico Cannabis testing services market insights
- The Mexico cannabis testing services market generated a revenue of USD 8.8 million in 2023.
- The market is anticipated to grow at a CAGR of 30.4% from 2024 to 2030.
- In terms of segment, potency testing was the largest segment in 2023.
- Potency Testing is the most lucrative product segment registering the fastest growth during the forecast period.
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Cannabis Testing Services Market Scope
Cannabis Testing Services Market Companies
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Mexico cannabis testing services market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cannabis testing services market will help companies and investors design strategic landscapes.
Medical use of marijuana has been permitted on select basis since 2015. However, it was legalized in Mexico on 19th June 2017. The medical marijuana program is in its nascent stage and the Ministry of Health has been assigned by the Mexican government to create regulations and criteria for the program.
In addition, the incidence of diseases such as cancer, autism, and Alzheimer’s disease has increased in the past few years. Therefore, legalization of medical marijuana in Mexico is expected to drive the market for cannabis testing services over the forecast period. Moreover, people in Mexico are conservative compared to that in the U.S. and use of marijuana for recreational purpose is highly stigmatized.
Furthermore, one of the conditions laid out is that all medications to be consumed should contain only 1% or lower THC content. This is anticipated to drive the adoption of cannabis testing to verify standards and regulations for acceptable limits of specific compounds.
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Our clientele includes a mix of cannabis testing services market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico cannabis testing services market, including forecasts for subscribers. This country databook contains high-level insights into Mexico cannabis testing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico cannabis testing services market size, by service type, 2018-2030 (US$M)
Mexico Cannabis Testing Services Market Share, 2023 & 2030 (US$M)
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