The Medical Cannabis Market Report is a valuable source of insightful data for business strategists and covering all features of the market, providing up-to-date information on current trends. It offers an in-depth assessment of numerous features of industries such as market overview, present development valuations, historical and future evaluation, present trends, Porter’s five forces analysis, SWOT valuations and clients operating in numerous regions. The data reports also offer valuable data to expand the understanding, scope, Types and application of this report. The report covers detailed study of Medical Cannabis market segmentation, regional and country breakdown. This Research will offer a clear and precise idea about the complete market to the readers to take beneficial decisions.
The global medical cannabis market size was valued at $6,822.21 Million in 2021 and is projected to reach $53,883.46 Million by 2028 registering a CAGR of 23.6% from 2022 to 2028.
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Market key Players: – BOL Pharma, Tilray, Medreleaf Corporation, Aurora Cannabis, Inc, Canopy Growth Corporation, Insys Therapeutics, Inc, Aphria, Inc, MGC Pharmaceuticals Limited, GW Pharmaceuticals, plc, Medical Marijuana Inc, Medipharm Labs
Segment by Type:
The oil and tincture segment dominated the medical marijuana market in 2022 and accounted for the largest revenue share of 53.1%. The growth is largely attributed to its growing medicinal usage. Clinical studies have shown that non-psychoactive compounds in marijuana, such as CBD have the property to reduce inflammation and thus have the capability to provide a new treatment for chronic pain.
Segment by Applications:
Neurological Disease (Epilepsy, Multiple Sclerosis and Other Neurological Applications)
The chronic pain segment held 25.9% of the revenue share in 2022. Studies of various research, state that medical cannabis is safe for treating patients with chronic pain and neuropathic pain. The growing number of clinical trials with marijuana to treat neuropathic and chronic pain is one of the key indicators, which highlights the rising usage of cannabis in pain management over the coming few years.
The Medical Cannabis Market report covers analysis of following regions:
1. South America Covers Colombia, Brazil, and Argentina etc.
2. North America Covers Canada, United States, and Mexico etc.
3. Europe Market Covers UK, France, Italy, Germany, and Russia etc.
4. The Middle East and Africa Covers UAE, Saudi Arabia, Egypt, Nigeria, and South Africa etc.
5. Asia Pacific Covers Korea, Japan, China, Southeast Asia, and India etc.
North America accounted for the largest revenue share of 76.1% in 2021. The increasing cannabis legalization in the U.S. is one of the vital factors contributing to its increased demand. Moreover, in the U.S., 37 states and the District of Columbia have legally permitted the use of cannabis for therapeutic purposes. Whereas, other ten states have also legalized the usage of cannabis for recreational purposes.
The government of the U.S in May 2021, for the first time in more than 50 years has approved new growers of research marijuana. Thus, broadening the capacity to study the drug’s medical value. Furthermore, product launches are also fueling the market growth. For instance, in August 2021, Tilray launched new medicinal cannabis edibles in CBD and TCH-rich varieties of chocolates and soft chew gummies in Canada, escalating the brand’s widespread offering of cannabis medicines, which comprises whole flower, pre-rolls, oils, and vapes, designed with patient health and wellbeing in mind.
In May 2022, Canopy Growth Corporation launched new flavors for their flavored cannabis infused carbonated drinks: orange orbit and the Grape. This launch increases the company’s product portfolio and delivering innovative products in cannabis market.
In March 2022, Martha Stewart, in collaboration with Canopy Growth Corporation and Marquee Brands, released 15-flavor CBD Wellness Gummies Sampler. This range of products provided the consumer with the wellness benefits of CBD.
In April 2021, Canopy Growth Corporation acquired Supreme Cannabis Company, which leads on to adding their premium brand 7acres to Canopy Growth Portfolio and the facilities of cultivating low-cost hybrid greenhouse cannabis. Due to this acquisition the company can reach more consumers through Supreme’s premium brands and high-quality products, further solidifying Canopy’s market leadership.
Key highlights of the Market report:
– Current Progress rate
– Renumeration prediction
– Consumption graph
– business concentration ratio
– Global Secondary business competitors
– Global Competitive structure
– Key restraints
– Global Market drivers
– Regional bifurcation
– Competitive hierarchy
– Present market tendencies
– Global Market concentration analysis
Following are major TOC of Medical Cannabis Market:
Chapter 1: Market Overview, Product Overview, Product Segmentation, Market Overview of Regions, Market Dynamics, Limitations, Opportunities and Current Business News and Policies.
Chapter 2: Industry Chain evaluations, Upstream Raw Material Suppliers, Main Players, Production Process Analysis, Cost Analysis, Market Channels, and Major Downstream Buyers.
Chapter 3: Value Study, Production, Progress Rate and Price Analysis by Type.
Chapter 4: Worldwide Market Downstream Features, Consumption and Market Share by Application.
Chapter 5: Production Volume, Price, Gross Margin, and Revenue ($) of Medical Cannabis by Regions.
Chapter 6: Medical Cannabis Production, Consumption, Export, and Import by Regions.
Chapter 7: New Market Status and SWOT Analysis by Regions.
Chapter 8: Worldwide Competitive Landscape, Product Introduction, Business Profiles, Market Distribution Status by Companies.
Chapter 9: Market assessment and Forecast by Type and Application.
Chapter 10: Global Market assessments and Forecast by Regions.
Chapter 11: Medical Cannabis Industry Characteristics, Key Factors, New Entrants SWOT Analysis, Investment Feasibility Analysis.
Chapter 12: Global Market Conclusion of the Complete Report.
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