According to a new report by GreenWave Advisors, marijuana lab testing revenues are projected to reach $850 million in the next five years.
As an independent investment research and advisory firm, GreenWave Advisors serves the budding cannabis industry. They suggest that investment potential lies in the lab testing segment of the industry as states require mandatory testing to be done on cannabis. (whitejasmine.com)
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State-regulated Cannbis testing for Colorado and Washington are a relatively new advent, and only a few labs have now started taking on projects. The cannabis plant contains more than 400 medicinal compounds and states require lab testing from the seed-t0-sale process.
States now require testing for unsafe levels of contaminants like heavy metals, microbes, mycotoxins, pesticides, and solvents that can exacerbate health issues.
