Multiple Sclerosis Treatment Market Research Report, By Drug Type (Immunomodulators, Immunosuppressant), By Route of Administration (Injectable, Oral and Other), By Diagnosis (Magnetic Resonance Imaging (MRI) Scans, Simple Electrical Stimulation Tests, Lumbar Puncture), By End Users (Hospitals, Clinics, and others) – Forecast till 2023
Medical Marijuana Market Overview:
The global market for medical marijuana is all set to garner a valuation of USD 54,677.1 million by 2023 with an impressive CAGR during the forecast period of 2018 to 2023. Market Research Future (MRFR) in their latest report on the same included several factors like the relaxation of government regulations, growing intake from various research institutes, the inclusion of the product in several pharmaceutical products, growing number of FDA approvals are going to play in favor of the market.
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However, regulations in various countries are not supporting the medical marijuana producers owing to which their profit is dipping and sometimes they are facing various legal troubles. This can create a problem for the medical marijuana market. On the other hand, slow FDA approval can increase the amount of loss, which can deter producers from participating.
Medical Marijuana Market Segmentation:
The global report on the medical marijuana market has been segmented into product type, application, and distribution channel for a detailed study of various opportunities.
By product type, the report on the medical marijuana market can be segmented into oil, solids, dissolvable/powders, and ointments & creams. The dissolvable/powders segment has the potential to lead the market and its valuation is slated to surpass USD 22,648.8 million by the end of 2023.
By application, the report on medical marijuana contains a detailed analysis of segments like cancer, schizophrenia, Alzheimer’s disease, and multiple sclerosis. Its impact in treating cancer is immense.
By distribution channel, the market report on medical marijuana includes segments like online platforms, retail & pharmacy stores, and others. The online platform would gain substantial backing from various sectors.
Medical Marijuana Market Regional Analysis:
The global report on medical marijuana is finding the movements in the market quite promising for growth. The report has included several factors related to regional growth and unleashed various inputs that can ensure proper capitalization of growth pockets.
The Americas would enjoy its upper hand on the market as several countries have started legalizing the use of medical marijuana. Its growth in Canada is substantial as it was the first country to legalize it. In the US, several states have taken this step of legalizing it from which they are profiting much. Several South American countries are also taking the same route. Many of them have decriminalized it. In Europe, research institutes are triggering huge intake of the product. In countries like the Netherlands and others, Marijuana is getting substantial nod both for its recreational and medicinal purpose. In the Asia Pacific region, countries are changing their policies to include the use of medical marijuana into the main flow. This is helping the prospect of the market in terms of growth.
Medical Marijuana Market Competitive Landscape:
The global market for medical marijuana is all set to grow with the contributions made by companies like Cannabis Sativa Inc. (Nevada), Canopy Growth Corporation (US), Emerald Health Therapeutics Inc. (Victoria, BC), GW Pharmaceuticals Plc (US), Aphria (Ontario), CanniMed Ltd (Canada), Tilray (Nanaimo, BC), Pfizer Inc. (US), GBSciences Inc. (Nevada), Medical Marijuana Inc (US), Cara Therapeutics (US), and MediPharm Labs (US). These companies would launch several strategic moves that include mergers, acquisitions, collaborations, and others to build up the momentum for the market growth in the coming days.
In February 2020, the state government of Kentucky announced that the legalization process of medical marijuana is all set to get better traction in the coming years as its sale and consumption bill has passed the judiciary committee in the state’s House of Representatives.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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