Medical Cannabis Market Overview
Global medical cannabis market is expected to exhibit a strong 15.4% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The medical cannabis market is expected to be worth USD 52.35 billion by 2025, according to the MRFR report. The report analyzes the global medical cannabis market with respect to its major drivers and restraints, leading players, and other factors affecting the market’s movement. The impact of the COVID-19 pandemic on the global medical cannabis market is also assessed in the report.
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Medical cannabis has come on strongly in the last few years due to the increasing cases of legalization of cannabis for medical purposes in many countries around the world. The progress of the medical cannabis market has been restricted by the cannabis plant being deemed illegal in most countries around the world. The lifting of the legal restrictions on cannabis has been a major driver for the global medical cannabis market. Many citizen’s groups and NGOs have come out in support of medical cannabis, leading to growing popular support, further leading to government support. The growing popular support to the use of cannabis in medical applications is likely to remain a major driver for the global medical cannabis market over the forecast period.
Medical cannabis is mostly prescribed for cancer, arthritis, Alzheimer’s, and schizophrenia. The increasing prevalence of these diseases and the increasing awareness about the benefits of medical cannabis in treating these diseases are the major drivers for the global medical cannabis market over the forecast period. Cancer has grown to become a major global healthcare concern over the last few decades. This has led to increasing support to medical cannabis solutions, which promise long-lasting relief from the disease. Arthritis can also be effectively treated by medical cannabis solutions, leading to a growing demand for cannabis-based solutions for arthritis.
Medical Cannabis Market Competitive Leaderboard:
Leading players in the global medical cannabis market include Canopy Growth Corporation, Aphria Inc., Aurora Cannabis, Maricann Inc., Tilray, GW Pharmaceuticals plc, United Cannabis, Medical Marijuana Inc., Cannabis Sativa Inc., CanniMed Ltd., MediPharm Labs, and GBSciences Inc. Major players in the global medical cannabis market are likely to focus on product development in the coming years, in an effort to come up with promising solutions against diseases of various kinds. Research and development is likely to remain a major investment avenue for players in the medical cannabis market over the forecast period.
Medical Cannabis Market Segmentation:
The global medical cannabis market is segmented on the basis of product form, derivative, application, distribution channel, and region.
By product form, the global medical cannabis market is segmented into powders, solids, ointments and creams, oil, and others. The powders segment dominates the global medical cannabis market, as this is a highly convenient and easy way of consuming cannabis. Powders can also be dissolved in various liquids as per the needs of the formulation, making the form highly popular and convenient. The affordability of powders is also a major driver for the powders segment. The solids segment is expected to grow the fastest over the forecast period.
By derivative, the global medical cannabis market is segmented into cannabidiol (CBD) and tetrahydrocannabinol (THC). CBD is the largest segment of the global medical cannabis market.
By application, the global medical cannabis market is segmented into arthritis, cancer, Alzheimer’s disease, schizophrenia, and others. Alzheimer’s disease is the largest segment of the global medical cannabis market. Cancer is the fastest growing market segment. Arthritis is also likely to remain important for the market over the forecast period.
By distribution channel, the global medical cannabis market is segmented into retail pharmacy, online stores, and others. The retail pharmacy segment is the largest in the market.
Medical Cannabis Market Regional Analysis:
The Americas are the largest regional market for medical cannabis, due to the growing trend of legalization of cannabis in the U.S. and Canada. Many U.S. states have legalized cannabis in recent years, leading to a growing demand from the medical cannabis market. Asia Pacific is the fastest growing regional market for medical cannabis.
Table Of Contents
1. REPORT PROLOGUE
2. MARKET INTRODUCTION
2.2. Scope Of The Study
2.2.1. Research Objective
3. RESEARCH METHODOLOGY
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
4. MARKET DYNAMICS
5. MARKET FACTOR ANALYSIS
LIST OF TABLES
TABLE 1 GLOBAL MEDICAL CANNABIS MARKET SYNOPSIS, 2019–2025
TABLE 2 GLOBAL MEDICAL CANNABIS MARKET ESTIMATES & FORECAST, 2019–2025 (USD MILLION)
TABLE 3 GLOBAL MEDICAL CANNABIS MARKET, BY PRODUCT FORM, 2019–2025 (USD MILLION)
TABLE 4 GLOBAL MEDICAL CANNABIS MARKET, BY DERIVATIVES, 2019–2025 (USD MILLION)
TABLE 5 GLOBAL MEDICAL CANNABIS MARKET, BY APPLICATION, 2019–2025 (USD MILLION)
TABLE 6 GLOBAL MEDICAL CANNABIS MARKET, BY DISTRIBUTION CHANNEL, 2019–2025 (USD MILLION)
LIST OF FIGURES
FIGURE 1 RESEARCH PROCESS
FIGURE 2 MARKET STRUCTURE FOR THE GLOBAL MEDICAL CANNABIS MARKET
FIGURE 3 MARKET DYNAMICS FOR THE GLOBAL MEDICAL CANNABIS MARKET
FIGURE 4 GLOBAL MEDICAL CANNABIS MARKET SHARE, BY PRODUCT FORM, 2018 (%)
FIGURE 5 GLOBAL MEDICAL CANNABIS MARKET SHARE, BY DERIVATIVES, 2018 (%)
FIGURE 6 GLOBAL MEDICAL CANNABIS MARKET SHARE, BY APPLICATION, 2018 (%)
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