Global Medical Cannabis Market is Expected to Grow at 25.16% in the Forecast Period of 2021 to 2028

Global Medical Cannabis Market is forecasted to grow at 25.16% with factor such as increased medical use and legalization of cannabis.    

Medical cannabis market is growing due to increased usage of cannabis seeds in cosmetic products. However, complex regulatory structure for usage of cannabis acts as a restraint for its growth in the market.  

Medical Cannabis Market Scenario

According to Data Bridge Market Research, the market for medical cannabis in North America region has the highest market share followed by Europe and Asia-Pacific. Market leader is MediPharm Labs Inc. which accounts an estimated market share of approximately 17.56% in the North American region

Medical Cannabis Market

Trends Impacting the Market

Now the question is which other regions MediPharm Labs Inc. Aphria Inc. and Tilray are targeting? Data Bridge Market Research has estimated a large growth in North Medical cannabis market and the market leaders targeting U.S, Canada and Mexico to be their next revenue pockets for 2020.      

The medical cannabis market is becoming more competitive every year with companies such as MediPharm Labs Inc. Aphria Inc. and Tilray as they are the market leaders for medical cannabis. The Data Bridge Market Research new reports highlight the major growth factors and opportunities in the medical cannabis market.    

For more analysis on the medical cannabis market request for a briefing with our analysts

Medical Cannabis Market Development in 2020

  • In October 2020, MediPharm Labs Inc. partnered with STADA. With STADA’s expertise in sales and marketing, the company will benefit from the commercialisation of the cannabis products which will help in fuelling the market in coming years.

Scopes of the Medical Cannabis Market

Global medical cannabis market is segmented on the basis of countries into the UU.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Turkey, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa.

  • On the basis of product, the market is segmented into oil, medical cannabis capsules, patch, whole flower, ground flower, vape pen, dried medical cannabis, creams & moisturizer, mask & serum, cleanser and others. On the basis of source, the market is segmented into synthetic and natural. On the basis of species, the market is segmented into cannabis indica, sativa and hybrid. On the basis of derivatives, the market is segmented into cannabidiol (CBD), tetrahydrocannabinol (THC)/delta-8-tetrahydrocannabinol, cannabinol, cannabigerol (CBG) and others. On the basis of application, the market is segmented into Alzheimer’s disease, appetite loss, cancer, epilepsy, autism, mental health conditions, multiple sclerosis, pain management, nausea, muscle spasms, arthritis, elevate mood, depression and sleep disorders, anxiety and others. On the basis of route of administration, the market is segmented into oral solutions and capsules, smoking, vaporizers, topicals and others. On the basis of end user, the market is segmented into pharmaceutical industry, research and development centers, homecare settings, hospital and rehab centers and others. On the basis of distribution channel, the market is segmented into B2B and B2C

To know more about the study

Key Pointers Covered in Medical Cannabis Market Industry Trends and Forecast to 2028

  • Market Size
  • Market Standards and Changes
  • Market Trials in Different Regions
  • Market Requirements in Different Regions
  • Market Shares in Different Regions
  • Recent Developments for Market Competitors
  • Recent Market Value for Different regions
  • Sales Data for Market Competitors
  • Market Key Vendors and Disruptors Study
  • Impact of COVID-19 in the market

Key Market Competitors Covered in the Report

  • Tilray
  • Elixinol Global Limited
  • Medical Marijuana, Inc.
  • Extractas
  • Peace Naturals Project Inc.
  • BOL Pharma
  • PharmaHemp, Kiehl’s (A Subsidiary of L'ORÉAL)
  • Vermont Hemp Health
  • Discover Health LLC
  • Pacific roots
  • Aurora Cannabis
  • GW Pharmaceuticals plc.
  • Harmony
  • Pure Ratios
  • MARY’s nutritionals
  • Bioactive Solutions, Inc.
  • Upstate Elevator Supply Co.
  • EcoGen Biosciences
  • Althea Company Pty Ltd (A Subsidiary of Althea Group Holdings Limited)
  • Apothecanna
  • Zenabis Global Ltd
  • Cresco Labs
  • IDT Australia
  • Greenwich Biosciences, Inc.
  • MediPharm Labs Inc.
  • THC Global Group Limited
  • Seed Cellar
  • Seeds For Me
  • Crop King Seeds, BARNEY'S FARM
  • Aphria Inc

Above are the key players covered in the report, to know about more and exhaustive list of medical cannabis companies’, contact us

Research Methodology

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

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, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Primary Respondents

  • Demand Side: Healthcare Professional, Doctors, Product Manufactures
  • Supply Side: Service Providers, Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.

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