What is the market for Medical cannabis?

 

Medical Cannabis Market Highlights

Medical cannabis, also known as medical marijuana, is an herbal drug derived from plants of the genus Cannabis used to treat a specific symptom or disease. Although the word cannabis refers specifically to the plant genus, it is also used interchangeably with marijuana, which describes the crude drug isolated from the plants’ leaves and flowers.

The global Medical Cannabis Market Size is expected to cross USD 33,210.21 million by 2027 at a CAGR of 18.14% during the forecast period 2020-2027.

The key factors that drive the global medical cannabis market trends are the rising research & development activities and financial support by various government and private organizations for cannabinoid research. However, stringent government policies and increasing illegal use of marijuana sizes are anticipated to hamper the market growth.

Segment Analysis

The global medical cannabis market insights has been segmented based on product type, derivative, route of administration, application, and distribution channel.

The market, based on product type, has been segregated into solid, dissolvable/powders, oil, and ointment & creams. Based on derivative, the market is bifurcated into cannabidiol and tetrahydrocannabinol. Based on route of administration, the global medical cannabis market has been segmented into inhalation, oral, and topical.

Based on application it is divided into pain management, neurological health management, and mental health management. The inhalation segment dominated the market segment is expected to register the fastest growth in the application segment of the global medical cannabis market during the forecast period. The medical cannabis market, by distribution channel, is segmented into hospital pharmacy, retail pharmacy, and online pharmacy.

Regional Analysis

The Americas dominated the global medical cannabis market by accounting for the largest share in 2020. This large market share is due to medical cannabis legalization in 37 US states and the increasing adoption of products. The presence of major manufacturers, the rising adoption of medical cannabis products, and an increasing number of companies involved in R&D activities are driving the growth of the market in this region. Europe holds a strong share in the global medical cannabis market. It is the second-largest market due to an increasing number of European countries legalizing cannabis for medical purposes.

Additionally, prominent research and manufacturing activities in the region are anticipated to increase the market size in this region. The increasing prevalence of diseases such as multiple sclerosis, epilepsy, Alzheimer’s disease, Parkinson’s disease, post-traumatic stress disorder, depression, and anxiety are fuelling the market growth in Europe. Asia-Pacific is expected to have a favourable growth rate during the forecast period, owing to the huge patient pool of cancer and government initiatives of healthcare reforms. It holds the third-largest position in the global medical cannabis market. The Middle East would depict the least growth due to major factors, such as underdeveloped regulations and lower adoption rates. The region is expected to witness a restricted growth due to stringent government policies.

Medical Cannabis Market Players

The global medical cannabis market players - Canopy Growth Corporation (Canada), Cannabis Sativa, Inc. (US), GW Pharmaceuticals plc. (UK), Emerald Health Therapeutics (Canada), Tilray, Inc. (Canada), Aurora Cannabis Inc. (Canada), Cara Therapeutics (US), Medical Marijuana, Inc. (US), GB Sciences, Inc. (US), and Canndoc (Israel).

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor,

New York, New York 10013

United States of America

+1 628 258 0071

Email: sales@marketresearchfuture.com

Comments

Post a Comment

Popular posts from this blog

Respiratory Care Devices Market Manufacturer Landscape, Revenue, Volume Analysis and Segment Information up to 2030

  Respiratory Care Devices Market Highlights Respiratory care devices are used for treating, controlling, evaluating, managing, and diagnosing patients with an anomaly in the cardiopulmonary system. The respiratory disease is any of the diseases and disorders of the airways and the lungs that affect human breathing. Diseases of the respiratory system may disturb any of the structures and organs that have to do with breathing, which includes nasal cavities, the throat, the larynx, the trachea, the tissues of the lungs, and the respiratory muscles of the chest cage. The growing respiratory diseases are largely due to increasing patient population suffering from chronic diseases, which include chronic obstructive pulmonary disease (COPD), cystic fibrosis, pneumonia, and asthma. The initial detection of these diseases aids in providing better treatments. Thus, the demand for respiratory care devices market is increasing greatly in the global market. Additionally, the growing elder...
Read more

Medical Imaging Workstations Market Tendencies, Revenue Forecast and Interesting Opportunities from 2022 to 2030

  Medical Imaging Workstations Market Highlights The global medical imaging workstations market is projected to reach USD 6.22 Billion by 2030 at 6.9% CAGR during the forecast period 2022-2030. The medical imaging workstations has become a base technology of modern medical diagnostics for the treatment of variety of acute and chronic diseases including cardiovascular diseases and cancer. The usage of medical imaging workstations market has reduced manual workflow and increased the accuracy and precision of diagnosis tremendously in recent years. The factors influencing the growth of the market including growing government investment and funding’s for research in modernization of imaging services, favourable reimbursement policies and the on-going technological advancements in imaging systems to improve healthcare infrastructure is anticipated to boost the growth of the market over the forecast period. Additionally, increasing demand for diagnostic imaging devices and develo...
Read more

Population Health Management Market | Industry Analysis, Size, Growth, Key Players, Segmentation And Forecast By 2030

  Global Population Health Management Market - Overview The global  population health management market  is growing with the rapid pace; mainly due to the technological innovation. According to a recent study report published by the Market Research Future, the global population health management is booming and expected to gain prominence over the forecast period growing rapidly. The market is forecasted to demonstrate a spectacular growth by 2030, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2022 – 2030). Notably, extreme need to fill in the gap between expenditure and outcomes is the key factor driving the  eclinicalworks population health  management market. It is observed that in the year 2012 digital healthcare data was estimated to be around 500 petabytes and is expected to reach 25,000 petabytes by 2020. On the other hand there has been deterioration in clinical outcomes in spite of huge expen...
Read more