The Global medical cannabis market Medical Cannabis Market report presents comprehensive information covering insightful data for businesses and investors for the time period of 2020-2027. The report studies the historical data of the Medical Cannabis market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimation of the Medical Cannabis industry based on the recent technological and research advancements. It also offers valuable data to assist investors in formulating strategic business investment plans and capitalizing on the emerging growth prospects in the Medical Cannabis market.
Increasing adoption of medical cannabis for cancer patient pain management and by those experiencing muscle spasms are factors driving market revenue growth
Medical cannabis Market Size – USD 10.20 Billion in 2020, Market Growth – at a CAGR of 11.5%, Market Trends – Legalization of marijuana in various countries
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Medical cannabis is deemed safer and has fewer side-effects as compared to other treatment options. It is used to treat nausea and combat negative side-effects, especially among patients undergoing chemotherapy, making the whole procedure more tolerable. The product is used with other opioid painkillers, which permits patients to reduce the dosage and frequency of opioids, relieving pain. Legalization of marijuana throughout the country could create up to 1 million jobs by 2025 in the US Workers are needed to farm, process, distribute and sell marijuana and its related products. Medical cannabis has not only created jobs but have also generated significant amount of taxes. For instance, Colorado, in 2019, collected more than USD 302 million in taxes and fees on medical and recreational marijuana.
Key players in the market include Canopy Growth Corporation, Aphria, Inc., Aurora Cannabis, Maricann Group, Inc., Tilray, Cronos Group, Organigram Holdings, Inc., Vivo Cannabis, Tikun Olam, and Insys Therapeutics, Inc.
Rise in geriatric population is also fueling market growth as older people are more susceptible to illness and experience a high level of pain. Research and development activities, clinical trials, and commercialization of the product will also foster market growth. Medical cannabis growth is deterred by certain side-effects incurred by the patients, such as fatigue, dizziness, constipation, and a speech problem. Moreover, the problem of undertaking medical cannabis and a lack of data safety will hinder the growth for medical cannabis.
The report further assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. It offers in-depth assessment of key companies operating in the market on the basis of their expansion plans, market position, financial standing, and gross profit margins.
Dispensaries segment accounted for a significant revenue share in 2020. Patients who are prescribed medical cannabis prefer to buy it from a legal source to abide by the regulations, which will propel the growth of dispensaries segment.
North America accounted for the largest market share in 2020, as the product is commonly used in the US to treat patients. Countries in the region are promoting derivatives such as resins, tinctures, oil, and vaporizers among the youth, who are the primary consumers. 36 states in the US allow medical sales of marijuana and the country witnessed record sales in 2020 due to COVID-19.
In October 2020, MediPharm Labs Corp. signed an exclusive supply agreement with STADA to meet the growing demand for medical cannabis in Germany. STADA wanted to be the go-to partner for generics, which is achieved by the partnership.
Oil segment is expected to register significant growth rate during the forecast period due to high demand for hemp oil among healthcare workers for clinical purposes. Cannabidiol (CBD) oil can reduce depression and anxiety, relieve cancer-related symptoms, and relieve pain. CBD oil can also treat acne owing to its ability to reduce sebum production and anti-inflammatory properties.
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Emergen Research has segmented the global Medical Cannabis market on the basis of product type, application, and route of administration, distribution channel, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
Outlook Application (Revenue, USD Billion; 2018-2028)
- Chronic Pain
- Mental Disorders
- Anorexia
- Seizures
- Muscle Spasm
- Cancer
- Others
Route of Administration Outlook (Revenue, USD Billion; 2018-2028)
- Oral
- Intravenous
- Inhalation
- Topical
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- Israel
- Rest Of MEA
Key points discussed in the report for Global Medical Cannabis Market:
Chapter 1: Introduction, market driving force product, Objectives of the Study, and Research Scope of the Medical Cannabis market
Chapter 2: Exclusive Summary –vital information of the Medical Cannabis Market.
Chapter 3: Market Dynamics- Drivers, Trends, and Challenges of the Medical Cannabis Market
Chapter 4: Medical Cannabis Market Factor Analysis Porters Five Forces, Supply / Value Chain, PESTEL analysis, Market Entropy, Patent / Trademark Analysis.
Chapter 5: Market segmentation by Type, End-User and Region 2016-2018
Chapter 6: Analysis of the market by segments, by countries and by manufacturers with revenue share and sales by key countries in these various regions.
Chapter 7 8: Appendix, Methodology and Data SourceContinued
Finally, Medical Cannabis Market is a valuable source of guidance for individuals and companies.
Key Questions Answered in the Report:
What is the growth rate of the Medical Cannabis market? What is the anticipated market valuation of Medical Cannabis industry by 2027?
What are the key growth driving and restraining factors of the Medical Cannabis market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Medical Cannabis industry over the forecast period?
Which region is expected to show significant growth in the coming years?
To define, describe, and forecast the market by product type, market, and key regions.
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