Global Medical Marijuana Market, By Form (Solid, Gas, Dissolvable/Powders), Product Type (Buds, Oils, Tinctures, Others), Active Ingredient (Tetrahydrocannabinol (THC), Cannabidiol (CBD)), Type (Flowers, Concentrates, Edibles, Others), Application (Chronic Pain, Arthritis, Cancer, Neurology, Oncology, Others), Route of Administration (Inhalation, Oral, Topical), Distribution Channel (Retail and Pharmacy Stores, Online Platforms), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, 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, U.A.E, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Medical marijuana 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 63890.74 million by 2028 growing at a CAGR of 17.91% in the above-mentioned forecast period. The growing awareness amongst the physicians and patients regarding the benefits of medical marijuana which will further create lucrative opportunities for the growth of the market.
Often known as cannabis or cannabinoids, marijuana is derived from the fruiting or flowering tops of a cannabis plant that has not been separated from the resin. Medical marijuana is referred to as the essential extracts that are used to treat certain illnesses or medical conditions, or the whole unprocessed marijuana plant.
Surging volume of patients suffering from chronic disorders, increasing prevalence of geriatric population across the globe, growing number of medical marijuana clubs, increasing use of medical marijuana to treat many disorders including cancer, epilepsy, nerve damage, arthritis, multiple sclerosis, Parkinson’s disease, and others, legalization of product in various countries, rising production of edible products with cannabis are some of the major as well as vital factors which will likely to augment the growth of the medical marijuana market in the projected timeframe of 2021-2028. On the other hand, increasing number of medical marijuana-related awareness programs conducted by private and public organizations along with rising production of premium medical cannabis products by manufacturers which will further contribute by generating massive opportunities that will lead to the growth of the medical marijuana market in the above mentioned projected timeframe.
High cost associated with the usages of product along with less penetration of product in semi-urban areas which will likely to act as market restraints factor for the growth of the medical marijuana in the above mentioned projected timeframe. Strict FDA regulations will become the biggest and foremost challenge for the growth of the market.
This medical marijuana market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised 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 medical marijuana market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Medical Marijuana Market Scope and Market Size
Medical marijuana market is segmented on the basis of form, product type, active ingredient, type, application, route of administration and distribution channel. The growth amongst these segments will help you analyse meagre 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 form, the medical marijuana market is segmented into solid, gas, and dissolvable/powders.
- Based on product type, the medical marijuana market is segmented into buds, oils, tinctures, and others.
- On the basis of active ingredient, the medical marijuana market is segmented into tetrahydrocannabinol (THC), and cannabidiol (CBD).
- Based on type, the medical marijuana market is segmented into flowers, concentrates, edibles, and others.
- On the basis of application, the medical marijuana market is segmented into chronic pain, arthritis, cancer, neurology, oncology, and others. Others have been further segmented into migraine and seizures.
- Based on route of administration, the medical marijuana market is segmented into inhalation, oral, and topical.
- Medical marijuana market has also been segmented based on the distribution channel into retail and pharmacy stores, and online platforms.
Medical Marijuana Market Country Level Analysis
Medical marijuana market is analysed and market size insights and trends are provided by country, form, product type, active ingredient, type, application, route of administration, and distribution channel as referenced above.
The countries covered in the medical marijuana 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.
The U.S. dominates the North America medical marijuana market due to the increasing usages of product in various medical applications along with legalization of cannabis in the region, while Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2021 to 2028 due to the growing popularity of different medical marijuana products such as creams, lotions, gels, ointments, and others in the region.
The country section of the medical marijuana market 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 such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis 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 domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
Medical marijuana market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment’s, installed base of different kind of products for medical marijuana market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical marijuana market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Medical Marijuana Market Share Analysis
Medical marijuana 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 medical marijuana market.
The major players covered in the medical marijuana market report are Canopy Growth Corporation; CANNABIS SATIVA, INC; GW Pharmaceuticals plc.; Emerald Health Therapeutics Inc.; Tilray.; Aphria Inc.; Aurora Cannabis.; CARA THERAPEUTICS, INC; Medical Marijuana, Inc.; Pfizer Inc.; GB Sciences, Inc.; MediPharm Labs Corp.; MedReleaf Australia; Green Relief Inc.; CANNABIS SATIVA, INC; Peace Naturals Project Inc.; VIVO Cannabis Inc.; The Cronos Group; THE SUPREME CANNABIS COMPANY, INC.; United Cannabis; 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.