Global Medical Cannabis Market Size was valued nearly USD 3.21 billion by 2017 and is estimated to reach up to USD xx.xx billion by 2025. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 22.10% during the forecast period that is 2017-2025. Cannabis or marijuana is a psychoactive drug, which is extracted from cannabis plant species, such as Cannabis indica and Cannabis sativa. The main ingredient present in cannabis is delta-9 tetrahydro-cannabinol, commonly referred as THC, primarily responsible for inducing psychoactive effect.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global medical cannabis market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global medical cannabis market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.    

Market Dynamics

The rising cancer cases and potential effectiveness of medical cannabis in the treatment of various type of cancer such as breast cancer, prostate cancer, and other is anticipated to drive the global medical cannabis market. For instance, in 2018, according to the World Health Organization’s (WHO) estimation, 627,000 died from breast cancer. Legalization of cannabis in some countries of North America, Europe, and the Asia Pacific is also expected to boost the growth of medical cannabis market. Furthermore, increased clinical study on the utilization of cannabis in the production of drugs for cancer treatment and pain management, will further aid the growth of medical cannabis market. According to Lungcancer.org, pre-clinical studies included animal testing showed that cannabis may be effective in reducing or ceasing the growth of certain tumors. However, stringent governmental laws on cannabis in major economies like China, Japan and India, coupled with complexity associated in medical cannabis production and black marketing of cannabis are anticipated to restrain the growth of global medical cannabis market.

Segment Analysis

On the basis of treatment, the market is categorized as cancer, migraine, chronic pain, arthritis, and others. Medical cannabis for the treatment of chronic pain is expected to be the fastest growing segment, due to the presence of psychoactive compounds like THC and CBD in marijuana. In recent study conducted by clinical researches, it has been observed that Cannabidiol can interact with pain receptors in the brain and can exert anti-inflammatory and pain-relieving effects. The rising geriatric population has led to increase in chronic pain and arthritis incidences, due to which the medical cannabis market is expected to foster over the forecast period. According to the National Center for Biotechnology Information (NCBI), around 100 million U.S adults suffer from chronic pain.

Regional Analysis

The global medical cannabis market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. North America is expected to dominate the global medical cannabis market during the forecast period, due to legalization of medical cannabis in states which include Maine, Nevada, Colorado, California, Florida, Montana, and others. The higher legalization rate of medical cannabis, coupled with presence of key market players such as Cara Therapeutics, CannaGrow Holdings Inc., Lexaria Corporation is expected to accelerate the market.

Global Medical Cannabis Market Size, Share Analysis By Region 2017

Europe is projected to grow over the forecast period owing to increased legalization of medical cannabis in major countries in Europe such as Germany, Denmark, Croatia, Czech Republic, and Italy. The anticipated increase in the number of producers and distributors of medical cannabis is expected to fuel the growth of medical cannabis market in Europe. The growth of medical cannabis market in Asia Pacific is also anticipated, due to legalization of medical cannabis in Australia, coupled with excessive plantation of cannabis in various parts of China, and increased investments of international players such as Net Savings Link Inc. in China’s cannabis market.

Global Medical Cannabis Market Study Objective

1. To forecast the market size of medical cannabis market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

2. Market analysis and forecast of medical cannabis market on the basis of region, substrate and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

3. To analyze and elaborate significant factors that will have major impact on the growth of medical cannabis market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of medical cannabis market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the medical cannabis market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

Key Players Landscape

The key players operating in the medical cannabis market include Cannabis Sativa Inc., United Cannabis Corporation, Cara Therapeutics Inc., Together Pharma, Teva Pharmaceutical, Aurora Cannabis Inc., and others. Key market players are investing and focusing on expanding their product portfolio with merger and acquisitions. For instance, in 2018, Imperial Brands Plc and Snoop Dogg’s venture capital firm, Casa Verde Capital brought an unknown stake in Oxford Cannabinoid Technologies. With this venture the companies are planning to expand Imperial Brands’ product portfolio.

Global Medical Cannabis Market Study Report Offer You!

The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.