Global Medical Marijuana Market Overview
Marijuana is a type of plant that has a chemical compound called as cannabis which has various medical properties. This plant is used as a vital raw material by various pharmaceutical companies to manufacture drugs that have therapeutic applications. Marijuana extracts are used to treat various diseases related to cancer, central nervous system, Alzheimer’s and also used in different anti-aging products. Market Research Future (MRFR), in their latest report, has studied the global medical marijuana market and have assessed that the market is expected to ascend at a 34% CAGR during the forecast period.
Rising prevalence of chronic diseases and growth in therapeutic applications of marijuana are anticipated to push scalable growth in the global medical marijuana market by 2023. Further, growing acceptance of marijuana for medical treatment in various countries, along with increasing authorization of marijuana is expected to promote growth in the global medical marijuana market.
On another note, the global medical marijuana market is highly influenced due to the expansion noted in the research and development activities. Another factor causative to the growth of the medical marijuana market is the growing financial support from various private and government organizations for cannabinoid research.
However, several factors are likely to pose as hindrances in the expansion of the global medical marijuana market. Lengthy approval procedures, increasing illegal use of marijuana, and rigorous government regulations are expected to restrain global medical marijuana during the forecast period.
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Medical Marijuana Market Analyzed by Topmost Players:
Some of the key players in the global medical marijuana market are Canopy Growth, Aurora Cannabis, Inc., Cannabis Sativa, Inc, GW Pharmaceuticals plc, United Cannabis, MGC Pharma, Aphria, Inc., Tilray, Emerald Health Therapeutics [Canada] Inc., GBSciences, Inc., CanniMed Ltd., Medical Marijuana, Inc, Cara Therapeutics, and Greengro Technologies.
Medical Marijuana Market Regional Analysis:
Geographically, the global medical marijuana market has been segmented into four major regions such as the Americas, Asia Pacific, Europe, and the Middle East and Africa. Among these, the Americas are forecasted to dominate the global medical marijuana market. High prevalence of individuals suffering from cancer, legalization of marijuana for medicinal as well as recreational purposes in various parts of this region and increased acceptance of marijuana in different forms in the healthcare sector are propelling the expansion of the medical marijuana market in this region. Increased research and development activities in the healthcare sector in order to discover multiple medicinal uses of marijuana and favorable government policies for using marijuana for medical purposes are fueling the expansion of the medical marijuana market in the Europe region. Large-scale production of marijuana on higher altitudes and rising government funding for the development of the healthcare sector in the developing economies are leading to the fastest growth of the medical marijuana market in the Asia Pacific region. Lack of awareness and poor economic conditions in the underdeveloped countries are leading to the slow growth of medical marijuana market in the Middle East and Africa region.
Medical Marijuana Market Segmentation
Global Medical Marijuana Market, by Product Type
- Ointments & Creams
Global Medical Marijuana Market, by Application
- Alzheimer’s Disease
- Multiple Sclerosis
Global Medical Marijuana Market, by Distribution Channel
- Retail & Pharmacy Stores
- Online Platforms
Table Of Contents
1 Report Prologue
2 Market Introduction
2.1 Scope Of Study
2.2 Research Objective
2.3 List Of Assumptions
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4 Market Dynamics
4.2.1 Growing Research And Development Activities And Financial Support By Various Private And
Government Organizations For Cannabinoid Research
4.2.2 Rising Prevalence Of Chronic Diseases And Other Medical Conditions
4.2.3 Increasing Authorization Of Marijuana For Medical Applications
4.3.1 Stringent Government Policies
4.3.2 Increasing Illegal Use Of Marijuana
4.3.3 Side-Effects After The Intense Use Of Marijuana
4.4.1 Change In Government Regulations For The Use Of Cannabis For Medical Applications
5 Market Factor Analysis
5.1 Value Chain Analysis
5.1.4 Distribution & Sales
5.1.5 Post-Sales Monitoring
5.2 Porter’s Five Forces Model
5.2.2 Bargaining Power Of Suppliers
5.2.3 Bargaining Power Of Buyers
5.2.4 Threat Of New Entrants
5.2.5 Threat Of Substitutes
5.2.6 Intensity Of Rivalry
6 Global Medical Marijuana Market, by Product Type
6.5 Ointments & Creams
7 Global Medical Marijuana Market, by Application
7.1 Introduction 34
7.2 Alzheimer’s Disease 35
7.3 Cancer 36
7.4 Schizophrenia 36
7.5 Multiple Sclerosis 37
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