Global Cannabis Capsule Market, By Product (High THC Capsule, THC/CBD Balanced Capsules, High CBD Capsules Digital), Compound (Tetrahydrocannabinol (THC)-Dominant, Cannabidiol (CBD)-Dominant), Application (Medical, Recreational), End User (Hospital Pharmacies, Retail Pharmacies, Drug Stores, Online Sales) – Industry Trends and Forecast to 2029
Market Analysis and Size
According to the poll, nearly 13,400 physicians in Canada supplied prescriptions for an average of 2.1 grams of marijuana each day to patients. The growing number of scientific trials of cannabis-infused medications for various therapeutic areas, particularly the usage of cannabidiol, is boosting market growth. There were around 400 completed or continuing clinical trials as of June 2018. Clinical trials sponsored by GW Pharmaceuticals was 40, whereas clinical trials sponsored by sanofi was 38. Furthermore, the narrative among physicians about the benefits, as well as supporting clinical evidence, is leading to an increase in patient prescriptions for cannabis-infused medicines.
Data Bridge Market Research analyses that the cannabis capsule market which was USD 28.0 billion in 2021, would rocket up to USD 108.14 billion by 2029, and is expected to undergo a CAGR of 18.40% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2014 - 2019)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Product (High THC Capsule, THC/CBD Balanced Capsules, High CBD Capsules Digital), Compound (Tetrahydrocannabinol (THC)-Dominant, Cannabidiol (CBD)-Dominant), Application (Medical, Recreational), End User (Hospital Pharmacies, Retail Pharmacies, Drug Stores, Online Sales)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
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), cbd MD (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)
Cannabis, sometimes known as marijuana, is a psychoactive substance that is used for both medical and recreational purposes. Cannabis has a long list of health benefits, including relief from restlessness, muscle contractions, and chronic discomfort, as well as a reduction in vomiting and illness caused by chemotherapy.
Cannabis Capsule Market Dynamics
- Advancements in research and development
Cannabis is now approved for the treatment of a variety of ailments, including restlessness, muscle tightness, persistent discomfort, and the reduction of vomiting and illness caused by chemotherapy. The majority of businesses are making rapid progress in their research into the potential of therapeutic cannabis and hemp.
- Cannabinol and tetrahydrocannabinol-modified edibles
CBD and THC-modified edibles are becoming increasingly popular throughout all permitted states. In addition, customers and investors are becoming more interested in infused drinks. The convoluted administrative process for cannabis acceptance can act as a roadblock to industry development. The therapeutic properties of cannabis, as well as the ongoing legalisation of cannabis capsules, will serve as opportunities for market expansion.
- Increasing legalization of cannabis
Medicinal cannabis accounts for a significant component of the cannabis industry. Australia, Canada, Chile, Colombia, Germany, Greece, Israel, Italy, the Netherlands, Peru, Poland, Portugal, Goa, and Uruguay are among the countries that have allowed the use of cannabis for therapeutic purposes. Consumers in cannabis-legalized states in the United States are often over the age of 50. This demographic profile is predicted to raise cannabis demand in the country due to a higher likelihood of chronic diseases after 50 years of age and the effectiveness of cannabis in treating such conditions. Symptoms and conditions that can be treated by cannabis, according to the US Government Accountability Office (under State Medical Marijuana Laws), include anorexia, HIV-AIDS, glaucoma, cancer, arthritis, epilepsy, nausea, pain, cachexia, Crohn's disease, Alzheimer's disease, migraines, multiple sclerosis, spasticity, and wasting syndrome. Cannabis' popularity and demand are projected to rise in the future as a result of ongoing research and standardisation of products for medicinal uses.
To provide the intended medicinal benefits, capsule doses must be precise before consumption. More dependable is the use of advanced technology, a qualified, licenced lab technician, and a producer. Because medical cannabis is now legal in the United States, demand for it is growing at a rapid pace, owing to the medicinal benefits that cannabis capsules provide. As a result, investors are keen in establishing or acquiring plants with the necessary gear, skilled labour, and a licence to create cannabis capsules. Existing manufacturers are also devoting time and resources to developing new methods for producing high-quality capsules in appropriate doses.
As a result, cannabis capsules are being made in order to make precise and calculated dosages of a variety of different medications, including cannabis. These calculated cannabis pill dosages are in high demand around the world, as they will open up a slew of new medical procedures to treat patients with Alzheimer's illness, glaucoma, PTSD, muscular spasms, and other ailments. Cannabis can be injected into the patient's body in a variety of ways, but the most efficient and dependable method is still the oral route because it is the most simple and convenient for the patient. THC capsules, for example, are taken orally and take 45 minutes to 3 hours to take effect. Because cannabis capsules are absorbed through the digestive system and digested by the body, the effect is very efficient.
This cannabis capsule market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cannabis capsule market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Covid-19 Impact on Cannabis Capsule Market
COVID-19, like every other market, had a negative impact on the cannabis market. As a result of the outage, customers were unable to visit brick-and-mortar establishments. However, many cannabis firms began relying heavily on social media and e-commerce platforms to market to customers during the year. The Alberta government designated cannabis retail stores, producers, manufacturers, distributors, and warehouses as essential services on March 30, 2020. As a result, throughout the COVID-19 pandemic, cannabis businesses and services continued to serve Albertans.
- In March 2021 - STADA Arzneimittel AG, a leading German pharmaceutical company, has entered the medical cannabis market with an agreement with MediPharm Labs, a Canadian startup, to launch two flower products and perhaps six more.
- In May 2021- TCV Sciences, Inc. announced the launch of PLUSCBDTM calm and sleep gummies, two tasty candies that help individuals go back to their normal routines by supporting healthy stress responses and sleep cycles.
Global Cannabis Capsule Market Scope
The cannabis capsule market is segmented on the basis of product type, compound, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- High THC Capsule
- THC/CBD Balanced Capsules
- High CBD Capsules Digital
- Tetrahydrocannabinol (THC)-Dominant
- Cannabidiol (CBD)-Dominant
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Sales
Cannabis Capsule Market Regional Analysis/Insights
The cannabis capsule market is analysed and market size insights and trends are provided by country, product type, compound, application and end-user as referenced above.
The countries covered in the cannabis capsule market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America have increased rapidly over the past few years due to the expansion of the major players' production capacities.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Cannabis Capsule Market Share Analysis
The cannabis capsule market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cannabis capsule market.
Some of the major players operating in the cannabis capsule market are:
- 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)
- 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)