- Global testing services market expected to achieve 10 percent-plus CAGR growth
- California cannabis testing market also set for exponential increase
- EVIO to double national testing footprint to 18 labs
California, befitting its history as part of America’s westward expansion, has earned an appellation as the ‘Wild West’ of pot. Medical marijuana, legal in the state since 1996, has been largely bypassed by quality control and safety regulations. That is about to change. To coincide with the opening of the adult recreational market, a plethora of rules and rubrics has been issued. California MMJ businesses will have until July 2018 to ensure compliance. As a result, demand for cannabis testing services in California is set to increase rapidly, a development that means EVIO, Inc. (OTCQB: EVIO), which has acquired testing facilities in Berkeley, California, is in the right place at the right time.
The supply shortfall in California cannabis testing services is rising to crisis proportions at a time when one report warns that ‘much of the marijuana sold in dispensaries in California would fail safety standards in other states’ (http://cnw.fm/7q9FU). Quality issues plague the industry, as recent examples from further afield demonstrate. A couple of MMJ companies licensed under Canada’s ACMPR were found to be…
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