Middle East and Africa Medical Cannabis Market, By Product (Oil, Dried Medical Cannabis, Medical Cannabis Capsules, Vape Pen, Whole Flower, Creams & Moisturizer, Ground Flower, Patch, Mask & Serum, Cleanser, Others), Source (Natural, Synthetic), Species (Sativa, Hybrid, Cannabis Indica), Derivatives (Cannabidiol (CBD), Tetrahydrocannabinol (THC)/Delta-8-Tetrahydrocannabinol, Cannabigerol (CBG), Cannabinol, Others), Application (Pain Management, Anxiety, Muscle Spasms, Nausea, Appetite Loss, Cancer, Arthritis, Alzheimer's Disease, Epilepsy, Depression and Sleep Disorders, Multiple Sclerosis, Autism, Mental Health Conditions, Elevate Mood, Others), Route of Administration (Oral Solutions and Capsules, Smoking, Topicals, Vaporizers, Others), End User (Homecare Settings, Hospital and Rehab Centers, Pharmaceutical Industry, Research and Development Centers, Others), Distribution Channel (B2C, B2B), Country (South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights: Middle East and Africa Medical Cannabis Market
The medical cannabis market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 21.53% in the forecast period of 2021 to 2028 and is expected to reach USD 787.73 million by 2028.
Cannabis is a psychoactive drug that is derived from the cannabis plant of the Cannabaceae family. For several years, it has been used medicinally and has wide range of application in treatment of various diseases including chronic pain, cancer, depression, diabetes, arthritis, glaucoma, epilepsy, migraines, AIDS and Alzheimer’s among others.
The use of cannabis as medicine is not rigorously tested due to the government restrictions and resulting in limited clinical research to define the efficacy of cannabis in medical and clinical applications. However, preliminary studies suggests that cannabis can reduce vomiting and nausea in chemotherapy patients and helps in increasing the appetite.
The increased medicinal use of cannabis and controlled legalization and use of cannabis in various industries are driving the growth of the market.
The medical cannabis market provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Middle East and Africa Medical Cannabis Market Scope and Market Size
The medical cannabis market is categorized into eight notable segments which are based on the product, source, species, derivatives, application, route of administration, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the medical cannabis market is segmented into oil, medical cannabis capsules, patch, whole flower, ground flower, vape pen, dried medical cannabis, creams & moisturizer, mask & serum, cleanser and others. In 2021, oil segment is expected to dominate the medical cannabis market due to high technology adoption by key players in the market.
- On the basis of source, the medical cannabis market is segmented into synthetic and natural. In 2021, synthetic segment is expected to dominate the medical cannabis market because of increasing healthcare expenditure.
- On the basis of species, the medical cannabis market is segmented into cannabis indica, sativa and hybrid. In 2021, cannabis indica segment is expected to dominate the medical cannabis market because of increased medicinal use of cannabis.
- On the basis of derivatives, the medical cannabis market is segmented into cannabidiol (CBD), tetrahydrocannabinol (THC)/delta-8-tetrahydrocannabinol, cannabinol, cannabigerol (CBG) and others. In 2021, cannabidiol (CBD) segment is expected to dominate the medical cannabis market due to increasing demand of medical marijuana products in the market.
- On the basis of application, the medical cannabis market is segmented into Alzheimer’s disease, appetite loss, cancer, epilepsy, autism, mental health conditions, multiple sclerosis, pain management, nausea, muscle spasms, arthritis, elevate mood, depression and sleep disorders, anxiety and others. In 2021, Alzheimer’s disease segment is expected to dominate the medical cannabis market because of increasing R&D activities.
- On the basis of route of administration, the medical cannabis market is segmented into oral solutions and capsules, smoking, vaporizers, topicals and others. In 2021, oral solutions and capsules segment is expected to dominate the medical cannabis market because of rising prevalence of chronic diseases.
- On the basis of end user, the medical cannabis market is segmented into pharmaceutical industry, research and development centers, homecare settings, hospital and rehab centers and others. In 2021, pharmaceutical industry segment is expected to dominate the medical cannabis market because of increasing geriatric population and prevalence of chronic diseases.
- On the basis of distribution channel, the medical cannabis market is segmented into B2B and B2C. In 2021, B2B segment is expected to dominate the medical cannabis market because of increasing demand of cannabis for medical and clinical purposes.
Medical Cannabis Market Country Level Analysis
The medical cannabis market is analysed and market size information is provided by the country, product, source, species, derivatives, application, route of administration, end user and distribution channel as referenced above.
The countries covered in the Middle East and Africa medical cannabis market report are South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa.
South Africa is dominating the market due to advanced methodologies present in the field which are also propelling the growth of the medical cannabis market.
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 such as new sales, replacement sales, country demographics, regulatory acts 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.
New Product Launches by Manufacturers is creating new opportunities for Players in the Medical Cannabis Market
The medical cannabis market also provides you with detailed market analysis for every country growth in aesthetic industry with medical cannabis market sales, impact of advancement in the medical cannabis market and changes in regulatory scenarios with their support for the medical cannabis market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Medical Cannabis Market Share Analysis
The medical cannabis 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, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to medical cannabis market.
Some of the major players operating in the medical cannabis market are Tilray, Elixinol Middle East & Africa Limited, Medical Marijuana, Inc., Peace Naturals Project Inc., BOL Pharma, PharmaHemp, Kiehl’s (A Subsidiary of L'ORÉAL), CANOPY GROWTH CORPORATION, Aurora Cannabis, HUMBOLDT SEED COMPANY, Crop King Seeds, BARNEY'S FARM, and Aphria Inc. among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of medical cannabis market.
- In December 2020, Aphria Inc. announced that it has entered in an agreement with Tilray to combine their business and will create the world’s largest Middle East and Africa cannabis company. This will help the company to further diversify its market in coming years.
Collaboration, joint ventures and other strategies by the market players is enhancing the company market in the medical cannabis market which also provides the benefit for organisation to improve their offering for medical cannabis market.
Customization Available: Middle East and Africa Medical Cannabis Market
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