Global Cannabis Pharmaceutical Market, By Product Type (Capsules, Concentrates, Edibles, and Other), Drugs (Epidiolex, Marinol, Cesamet, Sativex, Others), Compound Type (Tetrahydrocannabinol (THC), Cannabidiol (CBD), and Balanced THC & CBD), Application (Inflammation, Chronic Pain, Epilepsy, Sleep Disorders, Anorexia, Schizophrenia, Others), End-Users (Clinic, Hospital, others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), Country (U.S., Canada, Mexico, Brazil, Argentina, Peru, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Cannabis Pharmaceutical Market
Global Cannabis Pharmaceutical Market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to USD 776.91 million by 2028 growing at a CAGR of 56.5% in the above mentioned forecast period.
Cannabis is an herbal drug, belonging to the family Cannabaceae. It consists of chemicals known as cannabinoids which are found in the leaves and flowers of the cannabis. These parts are used for the production of medicines. It belongs to a group of three pants i.e., Cannabis sativa, Cannabis indica, and Cannabis ruderalis and it shows psychoactive properties.
Progress in transformation of cannabis from herbal preparations to prescription drugs, rise in the legalization of cannabis for medical purpose, increasing awareness towards medical use of cannabis, growing use of cannabis for the treatment of conditions such as inflammation, chronic pain, epilepsy, sleep disorders, anorexia and schizophrenia are the factors that will drive the cannabis pharmaceutical market growth.
Rise in the number of clinical trials for more treatment options, growing concentration, and collaborations of pharmaceutical companies and rise in the research and development on cannabis will boost opportunities for the global cannabis pharmaceutical market in the forecast period of 2021-2028.
Lack of expertise for the guidance of patient’s dose, decrease in the cultivation of cannabis due to COVID-19, and many risk factors related to the use of cannabis will hamper the market growth and will further challenge the global cannabis pharmaceutical market in the forecast period mentioned above.
This cannabis pharmaceutical 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 global cannabis pharmaceutical market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Cannabis Pharmaceutical Market Scope and Market Size
The cannabis pharmaceutical market is segmented on the basis of product type, drugs, compound type, application, end-users and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of product type, the cannabis pharmaceutical market is segmented into capsules, concentrates, edibles and others.
- On the basis of drugs, the cannabis pharmaceutical market is segmented into epidiolex, marinol, cesamet, sativex and others.
- On the basis of compound type, the cannabis pharmaceutical market is segmented into tetrahydrocannabinol (THC), cannabidiol (CBD) and balanced THC & CBD.
- On the basis of application, the cannabis pharmaceutical market is segmented into inflammation, chronic pain, epilepsy, sleep disorders, anorexia, schizophrenia and others.
- On the basis of end-users, the cannabis pharmaceutical market is segmented into clinic, hospital and others.
- The cannabis pharmaceutical market is also segmented on the basis of distribution channel into hospital pharmacy, retail pharmacy and online pharmacy.
Global Cannabis Pharmaceutical Market Country Level Analysis
Global cannabis pharmaceutical market is analyzed and market size information is provided by the country, product type, drugs, compound type, application, end-users and distribution channel as referenced above.
The countries covered in the global cannabis pharmaceutical market report are the U.S., Canada, Mexico, Brazil, Argentina, Peru, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, Kuwait, South Africa, Rest of Middle East and Africa.
North America dominates the cannabis pharmaceutical market due to the existence of major key players, rising number of consumers, well-developed healthcare sector, increasing social awareness in this region. Europe also dominates the cannabis pharmaceutical market due to presence of major key players and increasing number of medical marijuana users. Also, the amendment of narcotics laws in Germany which includes exemption of CBD and hemp from dangerous substance’s list will drive the market growth.
Global cannabis pharmaceutical market in the Asia-Pacific and Europe is expected to grow during the forecast period due to increasing adoption of cannabis for treatment options, increasing legalization, rising investment in the healthcare sector and growing awareness.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Patient Epidemiology Analysis
Global cannabis pharmaceutical market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analysis of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
Competitive Landscape and Global Cannabis Pharmaceutical Market Share Analysis
Global cannabis pharmaceutical 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, company strengths and weaknesses, product launch, clinical trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to global cannabis pharmaceutical market.
The major players covered in the global cannabis pharmaceutical market report are GW Pharmaceuticals plc., Bausch Health Companies Inc., AbbVie Inc., Insys Therapeutics, Inc., Corbus Pharmaceuticals Holdings, Inc., Teva Pharmaceutical Industries Ltd., Avicanna Inc., Solvay and Cannabics Pharmaceuticals, among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.