MediPharm Labs Corp., Aphria Inc. and Tilray are Dominating the Global Medical Cannabis Market in 2020

Global Medical Cannabis Market is expected to grow with the CAGR of 25.16% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.

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Global medical cannabis market is a highly consolidated market, which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in global medical cannabis market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio.

For Instance,

• 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.

MediPharm Labs Corp., is dominating player in global medical cannabis market. The other key players existing in the market includes 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, ENDOCA, Pacific roots, CANOPY GROWTH CORPORATION, Aurora Cannabis, GW Pharmaceuticals plc., Harmony, Pure Ratios, MARY’s nutritionals, Bioactive Solutions, Inc., Upstate Elevator Supply Co., FOLIUM BIOSCIENCES, EcoGen Biosciences, Althea Company Pty Ltd (A Subsidiary of Althea Group Holdings Limited), Apothecanna, Zenabis Global Ltd, Cresco Labs, IDT Australia, MEDIFARM, Greenwich Biosciences, Inc., MediPharm Labs Inc., THC Global Group Limited, Seed Cellar, CANNABIS SEEDS USA, Seeds For Me, HUMBOLDT SEED COMPANY, Crop King Seeds, BARNEY'S FARM, and Aphria Inc. among others.

MediPharm Labs Corp.

MediPharm Labs Corp. has headquartered in Ontario, Canada and was founded in 2015. The company specializes in the production of purified, pharmaceutical quality cannabis oil and concentrates and advanced derivative products. Through its wholesale and white label platforms, they formulate, consumer-test, process, and package and distribute cannabis extracts and advanced cannabinoid-based products to domestic and international markets. Some of the product category include White Label Production, Bulk Wholesale Offerings, Medipharm Brand, Labs Cannabis, Wayfarer out of which Medipharm Brand, Labs Cannabis, Wayfarer, Bulk Wholesale Offerings is the market focused solutions category.

• In February 2021, MediPharm Labs Inc. received the Cannabis Drug License. This was considered a milestone as MediPharm Labs will now be able to carry out manufacturing and distribution of pharmaceuticals with cannabis as their component. This will help in driving the market growth in coming years.

The company has presence inEurope, North America, South America, Africa, and Asia-Pacific. In addition, company also generates revenue through the subsidiary such as ISO 14644 , Health Canada for Cannabis Processing and Sale, Research and Development License, GMP certified, Organic Certificate for Cannabis oil and Cannabis extract, ODC Manufacture License and ODC Narcotic & Psychotropic Import License, State Poisons Licenses and Permit.  

Aphria Inc.

Aphria Inc. is headquartered in Ontario, Canada, was founded in 2011. The company is engaged in the production of medical cannabis products. The product categories of the company include Sativa-Hybrid, Indica, Sativa, Hybrid out of which Indica, Sativa, Hybrid is the market focused category.

• In August 2020, Aphria Inc. announced that it has participated at 40th Annual Cannacord Genuity Global Growth Conference and discussed about the recent trends in medical cannabis industry. This has helped the company to give correct knowledge about its products.

The company has global presence in North America, Europe, South America, Asia-Pacific, Middle East and Africa. In addition, company also generates revenue through the subsidiary such as SweetWater Brewing Company (U.S.).

Tilray, Inc.

Tilray, Inc. is headquartered in Canada, was founded in 2018. The company is a global leader in cannabis research, cultivation, processing and distribution. The company focuses on cannabis research, cultivation, processing and distribution. The product categories of the company include Medical Cannabis, Accessories out of which Medical Cannabis is market focused category.             

• In December 2019, Tilray announced that it has entered in a partnership with University of Coimbra to work on research and create new knowledge on cannabis derived medical products.

The company has wide global presence across North America, Europe, South America, Asia-Pacific, Middle East and Africa. In addition to it, the company also generates its revenue from the various subsidiary companies such as Tilray Canada (Canada), Tilray Europe (Europe), Tirlary Australia & New Zealand (Australia), Manitoba Harvest (U.S.), High Park Company (Canada) among others.