Even though cannabis was once regarded as illegal in many countries, it is now legal to use in several economies, including cannabis as medical and recreational cannabis to treat a range of medical conditions. It has reportedly been used to treat patients with Parkinson's, Alzheimer's, Parkinson's-related and chemotherapy-related nausea, and other neurological diseases. According to some studies, cannabis derivatives are now being accepted by the FDA and other organizations for treating diseases where they have shown promise. Cannabis is largely accepted for recreational food and beverage products.
According to Data Bridge Market Research, the Medical Cannabis Based Oil Extract-Infused Products Market was USD 11.0 billion in 2021, would rocket up to USD 54.34 billion by 2029, and is expected to undergo a CAGR of 22.1% during the forecast period 2022 to 2029.
" Increasing legalization of cannabis surge the market growth"
With the legalization of cannabis, people can now use drugs without risk and take advantage of their therapeutic effects. As a result, many countries are gradually legalizing the use of cannabis. while it is still illegal in the vast majority of countries. As the laws governing its use and sale have become more relaxed over time, cannabis use for recreational purposes has become more and more popular all over the world. This has helped the recreational cannabis industry as a whole to grow. Through, the substantial demand for cannabis use for recreational purposes, this market segment is already outpacing all others. The market for cannabis used for recreational purposes could grow significantly if it were made legal.
What restraints the growth of the Global Medical Cannabis Based Oil Extract-Infused Products Market?
" Consumption of high-dose of cannabis can negatively impact the market"
The short-term side effects of overdosing include anxiety or panic attacks, whereas the long-term side effects include heart arrhythmia and mental health issues. Another possibility is cannabis poisoning, which is a transient negative effect of consuming too much cannabis at once. Considering the fact that edibles take a while to take effect, there is a higher chance that a high dose will be accidentally consumed.
Segmentation: Global Medical Cannabis Based Oil Extract-Infused Products Market
The global medical cannabis based oil extract-infused products market is segmented on the basis of product type, source type, distribution channel, end use.
- On the basis of product type, the medical cannabis based oil extract-infused products market is segmented into cbd oil, medical otc products, nutraceuticals, pharmaceuticals, personal care and cosmetic products, hair care products.
- On the basis of source type, the medical cannabis based oil extract-infused products market is segmented into hemp, marijuana.
- On the basis of distribution channel, the medical cannabis based oil extract-infused products market is segmented into b2b, b2c.
- On the basis of end-use, the medical cannabis based oil extract-infused products market is segmented into medical, personal use, pharmaceuticals, wellness.
Regional Insights: North America is expected to dominate the Global Medical Cannabis Based Oil Extract-Infused Products Market
North America will maintain its current trend of market dominance. The United States' increasing legalization of cannabis for both medical and recreational uses is one of the main causes of the region's dominance. As more states have legalized cannabis, supply, and demand have grown, further strengthening North America's position as the front-runner.
Europe is expected to grow in 2022-2029 due to shift in the lifestyle of people. Moreover, the strong demand and supply of cannabis is further anticipated to propel the growth of the cannabis market in the region in the coming years.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-medical-cannabis-based-oil-extract-infused-products-market
Recent Developments in Global Medical Cannabis Based Oil Extract-Infused Products Market
- In 2021, With a deal with Canadian company MediPharm Labs, one of Germany's top pharmaceutical companies, STADA Arzneimittel AG, will launch two flower products and six more in the future in the medical cannabis based oil extract-infused products market.
- In 2021, TCV Sciences, Inc. has introduced PLUSCBDTM calm and sleep gummies, two scrumptious candies that assist people in returning to regular routines by promoting healthy stress responses and sleep patterns.
The Prominent Key Players Operating in the Global Medical Cannabis Based Oil Extract-Infused Products Market Include:
- Joy Organics (U.S.)
- CBD istillery (U.S.)
- Gaia Botanicals (U.S.)
- Harmony (U.S.)
- Floyd’s of Leadville (U.S.)
- Lazarus Naturals (U.S.)
- cbdMD (U.S.)
- Pure Hemp Botanicals (U.S.)
- ENDOCA(Netherlands)
- Green Roads (U.S.)
- Tilray (U.S.)
- Canopy Growth Corp. (Canada)
- GW Pharmaceuticals PLC (U.K.)
- Aurora Cannabis (Canada)
- Aphria Inc. (Canada)
- CV sciences Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of Global Medical Cannabis Based Oil Extract-Infused Products Market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Medical Cannabis Based Oil Extract-Infused Products Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
