Global Medical Cannabis Market: Development History, Current Analysis and Estimated Forecast to 2027
Global Medical Cannabis Market
Research Report: By Product form (Powders, Solids, Ointments and creams, Oil,
Others), By Derivative (Cannabidiol, Tetrahydrocannabinol), By Application
(Arthritis, Cancer, Alzheimer’s disease, others) and By Distribution Channel
(Retail pharmacy, Online stores, others) – Forecast to 2027
Global Medical Cannabis Market Highlights
The global market report covering the Medical
Cannabis market revealed an opportunity for the market to
score a valuation of USD 52.35 Billion by 2025. This would happen with a CAGR
of 15.4% CAGR between 2019 and 2025, which as per Market Research Future (MRFR)
is the forecast period. Increasing instances of chronic diseases and other
severe medical conditions can inspire better market growth in the coming years.
Chronic diseases like schizophrenia, cancer, arthritis, Alzheimer’s disease,
and others have created a demand for the substance owing to its medicinal properties.
There are several private companies who are investing much to make sure that
the market gets prominence. In fact, government participation is also inspiring
for better growth opportunities. The growth of the market for medical cannabis
can also inspire illegal practitioners taking advantage of the system, which
can hold back the smooth growth in the coming years.
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Segmentation
The global market report on medical
cannabis includes studies on the application, derivative, product form, and
distribution channel. Various product dynamics are expected to make changes in
the understanding of the market. Also, this segmentation would reveal strong
potentials for the market and the insights would assist players in having
better growth.
By product form, the global market report
covers the medical cannabis market by having it segmented into solids, oil,
ointments & creams, powders, and others. The powder segment covers most of
the market area, however, the solid segment is showing ample opportunities to
emerge as the fastest market player. The ‘others’ segment includes tinctures,
lozenges, and smoking dried buds.
By derivative, the market report providing
insights on the medical cannabis market includes cannabidiol (CBD) and
Tetrahydrocannabinol (THC). The cannabidiol segment would gain better growth
opportunities due to its wide-spread applications.
By application, the market for medical
cannabis comprises cancer, Schizophrenia, Alzheimer’s disease, arthritis, and
others. Alzheimer’s disease has the largest segment, whereas, the cancer
segment can produce a high growth rate in the coming years.
By distribution channel, the report on the
global market for medical cannabis covers online stores, retail pharmacies, and
others. The retail segment fetches the maximum market share but the online
segment can outdo others in terms of market growth.
Regional
Analysis:
The global market for medical cannabis
covers on a region-specific scale places like the Americas, the Asia Pacific
region, and Europe as regions with the maximum potential to fetch high
revenues. However, the discussion also includes the Middle East & Africa
(MEA) as a possible moderate growth-provider.
The Americas can be branded as the largest
market as in North America, two countries the US and Canada are setting up huge
research and development sectors to maximize profit. The intent is to develop
drugs to pacify the mal-effects of various diseases. Effective law, hike in
investment probability, better research facilities are a few of the factors
included in a detailed study of the regional growth demographics. In Europe,
similar growth is possible for the regional market with several players
impacting the intake capacity. The Asia Pacific market is also opening up to
the market and countries here have realized the potential of the research area
with a proper exploration of the properties of cannabis.
Competitive
Landscape:
Several market players have recorded
tactical changes using which they can inspire growth in the medical cannabis
market. MRFR’s list shows some of them with their recent profiles to facilitate
understanding. These companies are Tilray (Canada), Aurora Cannabis (Canada),
Maricann Inc. (Canada), Aphria, Inc. (Canada), Canopy Growth Corporation
(Canada), GW Pharmaceuticals PLC (UK), Medical Marijuana, Inc. (US), Cannabis
Sativa Inc. (US), United Cannabis (US), CanniMed Ltd (Canada), MediPharm Labs
(Canada), GBSciences Inc. (US), and others
In November 2019, two new medicines got
approved by NHS for the treatment of diseases like epilepsy and multiple
sclerosis. These two medicines only got clearance for the UK as a beginning.
Browse Detailed TOC with COVID-19 Impact
Analysis at:
https://www.marketresearchfuture.com/reports/medical-cannabis-market-8368
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