- 1 Description
- 2 Medical Cannabis Oil Market Dynamics:
- 3 Impact of COVID-19 on the medical cannabis oil market:
- 4 Scope of the report
- 5 Medical Cannabis Oil Market: A Regional Perspective
- 6 Competitive landscape –
- 7 The Medical Cannabis Oil Market Report covers a comprehensive analysis of:
- 8 The regional analysis of the medical cannabis oil market includes:
- 9 Medical cannabis oil market: target audience
- 10 Key issues addressed
The size of the world market for medicinal cannabis oil is estimated to reach $ 4.410 billion in 2027 from $ 1.89 billion in 2020, with a CAGR of 14.32% over the forecast period (2021-2027). . Cannabis oil is extracted from a variety of Sativa cannabis plants. The characteristics of cannabis oil include the reduction of seizures, anti-inflammatory, analgesic, superior hydration and do not clog pores, which have improved its use in skin care products, groceries, wellness products and medical products, according to the National Center for Biotechnology Information Survey (NCBI) conducted between 2017 and 2018, about 62% of the population used cannabis-based products to treat various medical conditions. Growing research into cannabis in the medical industry has increased the demand for cannabis oil to treat multiple symptoms caused by chronic diseases.
Medical Cannabis Oil Market Dynamics:
Rising R&D is mainly driving the global market for medicinal cannabis oil for medical cannabis, the financial support of many government and private organizations for cannabis research, raising awareness about the benefits of cannabis, the legalization of cannabis for medical use and the growing need for pain-related therapies. Management due to the increased burden of chronic pain disease is expected to boost the medical cannabis oil market in the coming years. Cannabis has several medical properties that help to cure various critical and normal diseases. According to the NIDA (National Institute on Drug Abuse), in 2017, the National Institutes of Health (NIH) supported 330 projects and spent $ 140 million on R&D on cannabinoids. During this investment, $ 36 million was spent on 70 projects to examine the therapeutic attributes of cannabis and $ 15 million was spent on 26 cannabinoid-focused (CBD) projects.
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However, the presence of strict laws, the high price of CBD products and the absence of legalization programs in many African and Asian countries are some of the key factors hindering the growth of the medical cannabis oil market.
Impact of COVID-19 on the medical cannabis oil market:
The outbreak of the COVID-19 pandemic has affected the global medical cannabis oil market. As the market witnessed a decline in demand due to worldwide confinement, quarantine and factory closure in the second quarter resulted in an insufficient supply of raw materials that affected the global industry for longer.
Scope of the report
The report describes the study of the medical cannabis oil market based on product type, application and distribution channel.
Depending on the type of product, the medical cannabis oil market is divided into:
- The marijuana base
Depending on the application, the medical cannabis oil market is segmented into:
- Sleep disorders
- Multiple sclerosis
- Neurological pain
From the distribution channel, the medical cannabis oil market is segmented into:
- Independent drugstore
- Hospital and retail pharmacies
- Online channels
Medical Cannabis Oil Market: A Regional Perspective
The global medical cannabis oil market is regionally segmented in North America, Asia Pacific, Europe, South America and the Middle East and Africa (MEA). By 2020, North America is expected to represent the largest share of the world market and will continue to maintain its leading position during the evaluation period. Legalization of cannabis in several U.S. cities, increased awareness of the benefits of CBD oil, increased acceptance of cannabidiol for personal, pharmaceutical, and wellness use, and product consumption cannabis-based are some of the factors that accelerate growth. of the region.
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Europe occupies the second largest market in the Western European region due to the growing knowledge related to the medical applications of cannabis. Asia Pacific is projected to grow the fastest during the forecast period due to the installation of cannabis manufacturing plants, especially in China. China is the largest cannabis grower in Asia and cultivates about half of the world’s production. The country also exports about 90% of its products to the United Kingdom, Germany, Japan, the United States and the Netherlands. In addition, end-user players, including cosmetics and personal care, are targeting developing countries to improve their sales and profitability. Therefore, the growing focus of cannabidiol-based producers in the region and the growing legalization of medical cannabis in these nations are some key factors driving market growth.
Competitive landscape –
The leading manufacturers of medicinal cannabis oil in the world market include Aphria Inc., Curaleaf Holdings, MedMen Enterprises, Freedom Leaf, Inc., Greens Roads of Florida and ENDOCA.
Other manufacturers of medicinal cannabis oil include Folium Bioscience, Charlotte’s Web Holdings, Inc., Canopy Growth Corporation, CBD American Shaman, Kazmira LLC, Pharmahemp, Aurora Cannabis, HempLife Today, and Emblem Cannabis.
- In June 2019, Freedom Leaf Inc. acquired Green Lotus companies to diversify its product offering and distribution channels.
- In May 2019, Canopy signed an agreement with PharmaHouse Inc. They supply high quality cannabis flowers with an additional 20% of the flowering space available for their greenhouse facilities.
- In September 2018, Emblem Cannabis launched its oral spray spray along with a convenient medical delivery system. With this launch, the company has entered a new business segment and diversified its product portfolio.
The Medical Cannabis Oil Market Report provides a comprehensive analysis of the macroeconomic factors and market attractiveness of each segment. The report will include an in-depth qualitative and quantitative assessment of the sectoral / regional perspectives with the respective market players in the respective segment and region / country. The information in the report includes input from industry participants and industry experts along the value chain.
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The Medical Cannabis Oil Market Report covers a comprehensive analysis of:
- Market segmentation and regional analysis
- Market size 10 years
- Price analysis
- Supply and demand analysis
- Product life cycle analysis
- The five forces of Porter and the analysis of the value chain
- Analysis of developed and emerging economies
- PEST analysis
- Market factor analysis and forecast
- Market opportunities, risks and trends
- Conclusion and recommendation
- Regulatory landscape
- Patent analysis
- Competition landscape
- More than 15 company profiles
The regional analysis of the medical cannabis oil market includes:
- North America (USA, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia Pacific)
- Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, rest of MEA
Medical cannabis oil market: target audience
- Manufacture of medical cannabis oil
- Medical cannabis oil distributors and raw material suppliers
- Level 1 component suppliers
- Medical cannabis oil battery manufacturers
- Research institutions and universities
- Commercial publications and magazines
- Government authorities, associations and organizations
- Independent players in the spare parts market
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Key issues addressed
- What is the market size for different segments of medicinal cannabis oil by region and their respective countries?
- What are the buying behavior of customers, takeaways and the 5 Porter forces of the medical cannabis oil market?
- What are the key opportunities and trends for manufacturers involved in the medicinal cannabis oil supply chain?
- What are the key dynamics (drivers, constraints, opportunities and challenges) of the market?
- What and how do regulations, schemes, patents, and policies affect market growth?
- What are the next technological solutions that influence market trends? How will existing companies adapt to the new technological change?
- What will be the impact of cutting-edge technology on the medical cannabis oil market?
- How has COVID-19 affected the demand and sales of medicinal cannabis oil in the world market? In addition, the expected BPS drop or rise count of the market and the expected market recovery period.
- Detailed analysis of competitors and their latest release, and what are the top startups introduced to the target market? In addition, a detailed profile of the companies of more than 25 leading and prominent companies in the market.
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