- Medical marijuana, comprising cannabis-based products used to treat specific medical conditions, is increasingly becoming a vital component of chronic disease management due to its therapeutic potential, particularly in pain relief, appetite stimulation, and symptom control for cancer, epilepsy, and multiple sclerosis
- The escalating demand for medical marijuana is primarily fueled by the rising prevalence of chronic and neurological disorders, growing clinical acceptance, and ongoing legislative reforms that are broadening patient access across various global markets
- North America dominated the medical marijuana market with the largest revenue share of 49.2% in 2024, characterized by well-established legal frameworks in the U.S. and Canada, strong R&D investment, and increasing physician adoption of cannabis-based therapies, particularly within oncology and palliative care settings
- Europe is expected to be the fastest growing region in the medical marijuana market during the forecast period due to progressive regulatory changes, expanding patient registries, and increasing domestic cultivation initiatives
- The oil segment dominated the medical marijuana market with a market share of 40% in 2024, driven by its high patient preference for precise dosing, ease of administration, and rapid onset of therapeutic effects
