The latest published report by Polaris Market Research. The report “Cannabis Pharmaceuticals Market Share, Size, Trends, Industry Analysis Report, By Product (Epidiolex, Marinol, Cesamet and Sativex); By Distribution Channel (Hospital Pharmacies, Online Pharmacies, and Retail Pharmacies), By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The global cannabis pharmaceuticals market was valued at USD 67.3 million in 2019 and is expected to reach USD 5.72 billion by 2027 to grow at a CAGR of 75.7% during the forecast period. (2020 – 2027). Favorable legislation in the market, policies across developed economies, and investments in the research and development for cannabis-infused drugs are the key factors responsible for the market growth. Moreover, technological innovation to decide the accurate dose of cannabis-infused drugs with cutting edge delivery methods to ensure therapeutic and psychoactive events, to contain drug abuse among adults also favoring market growth for cannabis pharmaceuticals. Blockchain technology in the pharmaceutical industry could be used to maintain strain purity and product formulations to have effective treatment for the therapeutic cause and will also enable us to capture dosage data for future considerations, thus technology could also play important role in shaping the market future of the cannabis pharmaceuticals industry.
- Sativex segment accounted for the largest revenue share in 2019 owing to the growing usage of drug for the muscle spasticity. In addition, growing demand for plant-based pharmaceuticals is expected to drive market demand for cannabis pharmaceuticals.
- Based on distribution channel, the hospitals pharmacies segment is projected to account for a significant share by 2027. The high share is attributed to the fact that most of the physicians recommend medicines from in-house pharmacy stores driving the cannabis medicines market growth.
- Europe accounted for the largest share in 2019 in terms of revenue on account of the increasing demand for plant-based medicines and the increasing awareness pertaining to the medicinal benefits associated cannabis
The regional market of North America accounted for the largest revenue share and is projected to garner significant growth over the forecast period. An increasing number of medical marijuana users and the existence of leading manufacturers in the region are driving growth for the market. Manufacturers are working on expansion strategies to unveil untapped markets and increase their product portfolio, which in turn helping the regional market to grow. In the Asia Pacific, increasing legalization for the use of medical marijuana coupled with growing awareness among people about its healing properties are creating new avenues for regional players.
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List of Key Players
- GW Pharmaceuticals
- Valeant Pharmaceuticals
- Insys Therapeutics, Inc.
- Corbus Pharmaceuticals
- Teva Pharmaceutical
- Solvay Pharmaceuticals
- Cannabics Pharmaceuticals
*Note: Additional companies can be included on request
Polaris Market Research has segmented the cannabis pharmaceuticals market report on the basis of product, distribution channel, and region
List Of Table of Contents
Cannabis Pharmaceuticals Market Insights
Cannabis Pharmaceuticals Market Assessment by Product
Cannabis Pharmaceuticals Market, by Distribution Channel
- Hospital Pharmacies
- Online Pharmacies
- Retail Pharmacies
Cannabis Pharmaceuticals Market Assessment by Geography
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- MEA (Saudi Arabia, UAE, Israel, South Africa)
List of Tables
Table 1 Global Cannabis Pharmaceuticals Market, By Product, 2016 – 2027 (USD Million)
Table 2 Global Cannabis Pharmaceuticals Market, By Distribution Channel, 2016 – 2027 (USD Million)
Table 3 Cannabis Pharmaceuticals Market Assessment, By Geography, 2016 – 2027 (USD Million)
List of Figures
Figure 1 Market Highlights (2019, Revenue)
Figure 2 Integrated Ecosystem
Figure 3 Research Methodology: Top Down & Bottom Up Approach
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