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Thailand Medical Cannabis Market – Industry Trends and Forecast to 2028

  • Medical Devices
  • Published Report
  • Aug 2021
  • Country Level
  • 350 Pages
  • No of Tables: 72
  • No of Figures: 21
  • Medical Devices
  • Published Report
  • Aug 2021
  • Country Level
  • 350 Pages
  • No of Tables: 72
  • No of Figures: 21

Thailand Medical Cannabis Market, By Product (Oil, Dried Medical Cannabis, Medical Cannabis Capsules, Vape Pen, Whole Flower, Creams & Moisturiser, Ground Flower, Patch, Mask & Serum, Cleanser, and Others), Application (Pain Management, Anxiety, Muscle Spasms, Nausea, Appetite Loss, Cancer, Arthritis, Alzheimer’s Disease/Migraines, Epilepsy, Depression and Sleep Disorders, Multiple Sclerosis, Autism, Mental Health Conditions, Elevate Mood, and Others), Derivatives (Cannabidiol (CBD), Tetrahydrocannibinol (THC)/Delta-8-Tetrahydrocannabiol, Patch, Cannabigerol (CBG), Cannabinol (CBN), and Others), Source (Natural, Synthetic), Species (Sativa, Hybrid, Cannabis Indica), Route of Administration (Oral Solutions and Capsules, Smoking, Topicals, Vaporizers, and Others), End User (Homecare Setting, Hospital, Rehab Centres, Pharmaceutical Industry, Research and Development Centres, and Others), Distribution Channel (B2C, B2B), Country (Thailand) Industry Trends and Forecast to 2028.

Market Analysis and Insights: Thailand Medical Cannabis Market

Thailand 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 with a CAGR of 25.16% in the forecast period of 2021 to 2028 and is expected to reach USD 67,354.01 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 suggest that cannabis can reduce vomiting and nausea in chemotherapy patients and helps in increasing the appetite.

The rising demand for medical cannabis because of their easy efficacy in treatment, growing technological advancement, and rising prevalence of chronic diseases and key initiatives taken by manufacturers are the major drivers propelling the demand for medical cannabis market in the forecast period. However, the stringent government regulation may hamper the medical cannabis market growth in the forecast period.

This medical cannabis market report 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.

Thailand Medical Cannabis MarketThailand Medical Cannabis Market Scope and Market Size

Thailand medical cannabis market is segmented on the basis of basis of 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, Thailand 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 market due to high technology adoption by key players in the market.
  • On the basis of source, Thailand medical cannabis market is segmented into synthetic and natural. In 2021, synthetic segment is expected to dominate the market because of increasing healthcare expenditure.
  • On the basis of species, Thailand medical cannabis market is segmented into cannabis indica, sativa and hybrid. In 2021, cannabis indica segment is expected to dominate the market because of increased medicinal use of cannabis.
  • On the basis of derivatives, Thailand 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 market due to increasing demand of medical marijuana products in the market.
  • On the basis of application, Thailand 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, multiple sclerosis, depression and sleep disorders, anxiety and others. In 2021, Alzheimer’s disease segment is expected to dominate the market because of increasing R&D activities.
  • On the basis of route of administration, Thailand 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 market because of rising prevalence of chronic diseases.
  • On the basis of end user, Thailand medical cannabis market is segmented into pharmaceutical industry, research and development centres, homecare settings, hospital and rehab centres and others. In 2021, pharmaceutical industry segment is expected to dominate the market because of increasing geriatric population and prevalence of chronic diseases.
  • On the basis of distribution channel, Thailand medical cannabis market is segmented into B2B, B2C. In 2021, B2B segment is expected to dominate the market because of increasing demand of cannabis for medical and clinical purposes.

Increased Medical Use

Thailand medical cannabis market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in cannabis 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 Thailand Medical Cannabis Market Share Analysis

Thailand 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, India presence, 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 companies’ focus related to Thailand medical cannabis market.

The major players operating in this market are Tilray, Elixinol Thailand Limited, Medical Marijuana, Inc., Extractas, Peace Naturals Project Inc., BOL Pharma, PharmaHemp, Kiehl’s (A Subsidiary of L'ORÉAL), CANOPY GROWTH CORPORATION, Aurora Cannabis, Althea Company Pty Ltd (A Subsidiary of Althea Group Holdings Limited), Cresco Labs, IDT Australia, MediPharm Labs Inc., THC Thailand Group Limited, and Aphria Inc. among others.

Many expansions, partnerships, acquisitions are also initiated by the companies worldwide which are also accelerating the growth of Thailand medical cannabis market.

For instance,

  • In October 2020, MediPharm Labs Inc. partnered with STADA. With STADA’s expertise in sales and marketing, the company will benefit from the commercialisation of the cannabis products which will help in fuelling the market in coming years
  • In November 2020, Aphria Inc. announced that it has closed the strategic acquisition of SW Brewing Company, LLC. This will help the company to further diversify product offering and broaden the consumer reach

Partnership, new product development and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for medical cannabis.


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