Medica Cannabis Market Size Is estimated To Grow at a remarkable CAGR Between 2020 to 2025

November 19th, 2020 Releases

Medical Cannabis Market Size (2020 to 2025)

As per the report published by Market Data Forecast, the size of the global medical cannabis market is forecasted to worth USD 44.4 Billion by 2025 from USD 13.4 Billion in 2020, registering a CAGR of 22.9% between 2020 to 2025.

Key Market Drivers:

Increasing the utilization of cannabis in the medical sector is enhancing the growth rate of the market. Increasing investments in the development of medical infrastructure and prompting healthcare services are solely leveraging the demand of the market. The rise in the R&D activities and increasing support from the government organizations in approving cannabis to a certain level are elevating the growth rate of the market. Patients suffering from cancer, diabetes, and other chronic diseases are shown best results with the use of medical cannabis where in some countries government passed a law to use medical cannabis in medicines. The aforementioned factor is accounted for in prompting the demand of the market.

Browse TOC and other details of the global medical cannabis market research report that spread through 160 pages @ https://www.marketdataforecast.com/market-reports/medical-cannabis-market

Significant Challenges:

However, lack of standardization is restraining the growth rate of the sports medicine market. Lack of sufficient knowledge in using cannabis properly is degrading the growth rate of the market. Difficulty in cultivating cannabis due to stringent laws by government authorities is also hampering the growth rate of the medical cannabis market.

COVID 19 impact on the medical cannabis market:

In the COVID 19 pandemic, the demand for medical cannabis has surged. The cannabis is directly linked to level up the immunity function. However, some suggest that this is increasing the severity of the infection rate of the SARS-CoV-2 in few patients. Key players are in the race to introduce the drugs or vaccines by using cannabis effectively. COVID 19 is showing severe illness in various ways, especially in elderly people where there is a vital role to control and prevent the spread of coronavirus through the medicines available. The market is deemed to show significant growth opportunities by 2021.

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This market research report on the global medical cannabis market has been segmented and sub-segmented into the following categories:

By Species:

  • Indica
  • Satiiva
  • Hybrid

By Derivatives:

  • Cannabidiol (CBD)
  • Tetrahydrocannabinol (THC)
  • Others

By Application:

  • Cancer
  • Arthritis
  • Epilepsy
  • Migraine

By End-User:

  • Pharmaceutical Industry
  • Research and Development Centers
  • Others

By Route of Administration:

  • Oral Solutions and Capsules
  • Smoking
  • Vaporizers
  • Topicals
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

Geographically, North America is holding with the highest shares of the global medical cannabis market owing to the quick adoption of advanced technologies in healthcare. Government support in approving cannabis at the proper dosage level is enhancing the growth rate of the market. In the US, the demand for the market is escalating with the increasing usage of cannabis in manufacturing various medicines for chronic illnesses like AIDS, cancer, and others. The growing scale of pharmaceutical industries is also a factor fuelling the demand of the market.

Europe is following North America in presenting the highest shares of the market. The rise in the economy and increasing incidences of infectious diseases like COVID 19 are major factors leveling up the demand of the market. The presence of major key players and the acquisition of the companies for better opportunities are ascribed to bolster the growth rate of the medical cannabis market. Also, Initiative steps by the government in creating awareness over the usage of cannabis is also likely to extend the demand of the market. Asia Pacific is deemed to hit the highest CAGR in the coming years. The increasing geriatric population is a major attribute for the market to grow in this region. Availability of various manufacturing labs with different equipment is also boosting up the demand of the market.

NOTABLE COMPANIES IN THIS MARKET:

Companies such as BOL Pharma, Tilray, Medreleaf Corporation, Aurora Cannabis, Inc., Canopy Growth Corporation, Insys Therapeutics, Inc., Aphria, Inc., MGC Pharmaceuticals Limited, GW Pharmaceuticals, plc are some of the companies leading the global medical cannabis market.

This report can be customized as per your requirements, talk to our analysts team @ https://www.marketdataforecast.com/market-reports/medical-cannabis-market/customization

List of Tables and Figures of the report:

  1. Global Medical Cannabis Market, By Region, From 2020 to 2025 (USD Billion)
  2. Global Medical Cannabis Market, By Species, From 2020 to 2025 (USD Billion)
  3. Global Indica Market, By Region, From 2020 to 2025 (USD Billion)
  4. Global Satiiva Market, By Region, From 2020 to 2025 (USD Billion)
  5. Global Hybrid Market, By Region, From 2020 to 2025 (USD Billion)
  6. Global Medical Cannabis Market, By Derivatives, From 2020 to 2025 (USD Billion)
  7. Global Cannabidiol (CBD) Market, By Region, From 2020 to 2025 (USD Billion)
  8. Global Tetrahydrocannabinol (THC) Market, By Region, From 2020 to 2025 (USD Billion)
  9. Global Others Market, By Region, From 2020 to 2025 (USD Billion)
  10. Global Medical Cannabis Market, By Application, From 2020 to 2025 (USD Billion)
  11. Global Cancer Market, By Region, From 2020 to 2025 (USD Billion)
  12. Global Arthritis Market, By Region, From 2020 to 2025 (USD Billion)
  13. Global Epilespy Market, By Region, From 2020 to 2025 (USD Billion)
  14. Global Migraine Market, By Region, From 2020 to 2025 (USD Billion)
  15. Global Medical Cannabis Market, By End-User, From 2020 to 2025 (USD Billion)
  16. Global Pharmaceutical Industry Market, By Region, From 2020 to 2025 (USD Billion)
  17. Global Research and Development Centers Market, By Region, From 2020 to 2025 (USD Billion)
  18. Global others Market, By Region, From 2020 to 2025 (USD Billion)
  19. Global Medical Cannabis Market, By Route of Administration, From 2020 to 2025 (USD Billion)
  20. Global Oral Solutions and Capsules Market, By Region, From 2020 to 2025 (USD Billion)
  21. Global Smoking Market, By Region, From 2020 to 2025 (USD Billion)
  22. Global Vaporizers Market, By Region, From 2020 to 2025 (USD Billion)
  23. Global Topicals Market, By Region, From 2020 to 2025 (USD Billion)
  24. 200+ More

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