The global demand for Medical Cannabis Market is presumed to reach the market size of nearly USD XX MN by 2027 from USD XX MN in 2020 with a CAGR of XX% under the study period 2021 - 2027.Regarding volume, the market was calculated XX Ton in 2020 and forecast to touch XX Ton by 2027 with a CAGR of XX% during 2021-2027.
As the name implies, medical cannabis refers to cannabis meant for medicinal purposes. The chemical content in it is used to treat diseases or conditions. The marijuana plant consists of more than 100 different chemicals called cannabinoids. Each one has a different effect on the body. Delta-9-tetrahydrocannabinol (THC) and cannabidiol (CBD) are the prime chemicals used in medicine. Medical cannabis can be administered through various methods, including capsules, tablets, cannabis edibles, tinctures, dermal patches, oral or dermal sprays, and vaporizing or smoking dried buds.
Increasing use of cannabis for drug formulation and growing awareness among pharma companies about medicinal benefits drive the global medical cannabis market. The medical cannabis market is majorly driven by the US. More than two-thirds of US states have legalized cannabis for medical treatments, and more are considering bills to do the same. Increasing research and growing approvals for medicinal use are predicted to create ample opportunities for market growth. Moreover, increasing therapeutic applications and product development through research and novel product delivery solutions will propel market growth. However, inadequate legal support in some regions and insufficient data to draw firm conclusions about medical cannabis safety hamper the market growth. Cannabis production and use as a medicine are restricted due to legal rules by the government, resulting in limited clinical research to define the safety and efficacy of using cannabis to treat diseases.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of medical cannabis. The growth and trends of medical cannabis industry provide a holistic approach to this study.
This section of the medical cannabis market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
- Cannabidiol (Cbd)
- Tetrahydrocannabinol (Thc)
By Route Of Administration
- Pharmaceutical Industry
- Research And Development Centres
- Oral Solutions And Capsules
This section covers the regional outlook, which accentuates current and future demand for the Medical Cannabis market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Medical Cannabis Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the medical cannabis market include Tilray, Elixinol Global Limited, Medical Marijuana, Inc., Extractas, Peace Naturals Project Inc., BOL Pharma, PharmaHemp, Kiehl’s, Vermont Hemp Health, Discover Health LLC, Endoca, Pacific roots, Canopy Growth Corporation. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information based on primary and secondary research. Secondary research has been done using various sources, including (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications. Additionally, our team conducts extensive primary research with key industry participants to gather first-hand data. The data is then analyzed and validated by industry experts.
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