The global Medical Cannabis Market is forecasted to be worth USD 47.15 Billion by 2027, according to a current analysis by Emergen Research. The report provides Medical Cannabis market forecast, supported by detailed insights historical data and revenues, past and current market trends, industry trends, consumer trends, market size, market share, market growth, along with ranging impacts of each factor and driver. It also provides analysis of various factors expected to restrain or limit potential growth in market size over the forecast period, 2022–2028. The report includes profiles of major players in the market, strategies being employed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials. An increase in medical cannabis products and the rise in research activities are driving the demand for the market. Moreover, the legalization of the product in several countries will also propel the demand for market growth. A rise in the geriatric population is also fueling the market demand as older people are more susceptible to illness and experience a high level of pain. Research and development activities, clinical trials, and commercialization of the product will foster market demand.
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The product is used with other opioid painkillers, which permits patients to reduce the dosage and frequency of opioids, relieving pain. Global Medical Cannabis market forecast has been provided following thorough study, focus, comparison, and analysis of a varying range of factors and past market forecast and present outcomes. Medical Cannabis Market forecast is made possible through, but has not been limited to, a study and analysis of a variety of factors and trends, and these are verified through interviews with industry experts and companies operating in the market. Medical cannabis is safe and has less side-effect as compared to other treatment options. It is used to treat nausea and combat negative side-effects, especially among chemotherapy patients, making the whole procedure more tolerable.
Rising focus by major companies on product/service expansion into new and untapped domestic markets, increasing investments in strategic agreements, favourable government policies and regulations, and growing competition in the market are some major trends observed in the Medical Cannabis market. Development of more advanced offerings is driving rising demand and deployment in respective sectors/industries, and this is expected to drive Medical Cannabis market revenue growth to a significant extent over the forecast period.
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For the purpose of this report, Emergen Research has segmented into the global Medical Cannabis Market on the basis of product type, application, and route of administration, distribution channel, and region:
- Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Chronic Pain
- Mental Disorders
- Muscle Spasm
- Route of Administration Outlook (Revenue, USD Billion; 2017-2027)
- Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
- North America
Incorporated with Info-graphics, charts, 70 tables and 85 figures, this 250-page research report “Medical Cannabis Market Size, Type, Application, End-Use Industry, Regional Outlook, Competitive Strategies and Forecasts, 2022 – 2027” is based on a complete research of the entire Global market and covering all its sub-segments through comprehensively thorough classifications. Insightful analysis and assessment are created from superior primary and secondary information sources with data and information derived from industry specialists across the value chain.
Key Highlights From The Report
- In October 2022, MediPharm Labs Corp. signed an exclusive supply agreement with STADA to meet the growing demand for medical cannabis in Germany. STADA wanted to be the go-to partner for generics, which is achieved by the partnership.
- The oil product type is forecasted to grow with the fastest CAGR of 17.5% due to the high demand for hemp oil among healthcare workers for clinical purposes. CBD oil can reduce depression and anxiety, alleviate cancer-related symptoms, and also relieves pain.
- Inhalation is a preferred medium of administration, as it offers controlled dosage and effective absorption of cannabinoids into the body. This is expected to propel the demand for the market in the coming years.
- Medical cannabis is used to treat anorexic patients, which resulted from AIDS/HIV. Cannabis stimulates their appetite instead of feeding the patient through tubes. It is more beneficial for the patient’s physical and emotional well-being to be fed natural rather than through tubes.
- Patients who are prescribed medical cannabis prefer to buy it from a legal source to abide by the regulations, which will propel the demand for the dispensaries segment.
- North America held the largest market share of 31.1% in 2019, as the product is commonly used to treat patients. Countries in the region are promoting derivatives such as resins, tinctures, oil, and vaporizers among the youth, who are the primary consumers.
- Key participants include Canopy Growth Corporation, Aphria, Inc., Aurora Cannabis, Maricann Group, Inc., Tilray, Cronos Group, Organigram Holdings, Inc., Vivo Cannabis, Tikun Olam, and Insys Therapeutics, Inc., among others.
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Region wise performance of the Medical Cannabis industry
North America Medical Cannabis market forecast is expected to remain significantly positive in terms of revenue share between 2022 and 2028. In addition, North America Medical Cannabis market revenue share is expected to remain comparatively larger than that of other regional markets from 2022 to 2028.
Asia Pacific registered fastest revenue CAGR in 2022, and the Medical Cannabis market forecast is that this trend is expected to continue going ahead. Market forecast states that revenue share contribution from China, India, and South Korea is expected to remain robust till 2028.
Europe Medical Cannabis market forecast is positive currently, with revenue growth expected to remain steady between 2022 and 2028. Robust focus on research and development initiatives by major firms and changing trends and demographics in countries in the region are some factors expected to continue to support Medical Cannabis market growth.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Southeast Asia
We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
Table of Content
Chapter 1. Methodology & Sources
1.1. Medical Cannabis Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Medical Cannabis Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. Medical Cannabis Market Segmentation & Impact Analysis
4.1. Medical Cannabis Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Medical Cannabis Market indicators analysis
4.2.2. Medical Cannabis Market drivers analysis
18.104.22.168. Rapid urbanization and industrialization
22.214.171.124. Stringent government regulations regarding carbon emissions
126.96.36.199. Increasing prevalence of respiratory diseases
188.8.131.52. Rising need to enhance indoor air quality
4.2.3. Medical Cannabis Market restraints analysis
184.108.40.206. High cost associated with the maintenance of Medical Cannabis products
220.127.116.11. Availability of renewable sources of energy
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 10. Competitive Landscape
10.1. Medical Cannabis Market Revenue Share By Manufacturers
10.2. Mergers & Acquisitions
10.3. Competitor’s Positioning
10.4. Strategy Benchmarking
10.5. Vendor Landscape
10.5.1. Raw Material Suppliers
10.5.1.1. North America
10.5.1.3. Asia Pacific
10.5.1.4. Middle East & Africa
10.5.1.5. Latin America
10.5.2.1. North America
10.5.2.3. Asia Pacific
10.5.2.4. Middle East & Africa
10.5.2.5. Latin America
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The research provides answers to the following key questions:
- What will be the growth rate and the market size of the Medical Cannabis industry for the forecast period 2022-2027?
- What are the major driving forces expected to impact the development of the Medical Cannabis market across different regions?
- Who are the major driving forces expected to decide the fate of the Medical Cannabis industry worldwide?
- Who are the prominent market players making a mark in the Medical Cannabis market with their winning strategies?
- Which Medical Cannabis industry trends are likely to shape the future of the industry during the forecast period 2022-2027?
- What are the key barriers and threats believed to hinder the development of the industry?
- What are the future opportunities in the Medical Cannabis market?
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