Increasing adoption of medical cannabis for cancer patient pain management and by those experiencing muscle spasms are factors driving market revenue growth
Market Size – USD 10.20 Billion in 2020, Market Growth – at a CAGR of 11.5%, Market Trends – Legalization of marijuana in various countries
Medical Cannabis Market 2021 report is comprised of an in-depth analysis of the global industry which aims to deliver comprehensive market intelligence study associated with major market components. The report includes an overview of these markets on different fronts such as market size, market share, market penetration of the product and services, market downstream fields, key vendors operating within the territory, market price analysis and more. This might help readers across the worldwide business industry to comprehend a lot about the regional as well as key domestic markets for Medical Cannabis. Reports include an overview and examination of the major companies operating within the industry which are considered to be revenue drivers for the market.
The global medical cannabis market size is expected to reach USD 24.52 Billion at a steady revenue CAGR of 11.5% in 2028, according to latest analysis by Emergen Research. Increase in medical cannabis products and the rise in research activities are driving the market revenue growth. Moreover, legalization of the product in several countries is also propelling growth of the market.
Medical cannabis is deemed safer and has fewer side-effect as compared to other treatment options. It is used to treat nausea and combat negative side-effects, especially among patients undergoing chemotherapy, making the whole procedure more tolerable. The product is used with other opioid painkillers, which permits patients to reduce the dosage and frequency of opioids, relieving pain. Legalization of marijuana throughout the country could create up to 1 million jobs by 2025 in the U.S. Workers are needed to farm, process, distribute and sell marijuana and its related products. Medical cannabis has not only created jobs but have also generated significant amount of taxes. For instance, Colorado, in 2019, collected more than USD 302 million in taxes and fees on medical and recreational marijuana
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The research report offers in-depth insights into company profiles along with their production values, production capacity, product portfolio, strategic plans such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, government and corporate deals, among others. The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry.
Top Key players of Medical Cannabis Market Covered In The Report:
Canopy Growth Corporation, Aphria, Inc., Aurora Cannabis, Maricann Group, Inc., Tilray, Cronos Group, Organigram Holdings, Inc., Vivo Cannabis, Tikun Olam, and Insys Therapeutics, Inc.
Market Segmentations of the Medical Cannabis Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2021 and 2028. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Medical Cannabis market on the basis of product, application, and region:
Emergen Research has segmented 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; 2018-2028)
- Oil
- Buds
- Tinctures
Application Outlook (Revenue, USD Billion; 2018-2028)
- Chronic Pain
- Mental Disorders
- Anorexia
- Seizures
- Muscle Spasm
- Cancer
- Others
Route of Administration Outlook (Revenue, USD Billion; 2018-2028)
- Oral
- Intravenous
- Inhalation
- Topical
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
- Dispensaries
- Online
Important Findings from the Medical Cannabis Market Study
Income and Sales Estimation –
Historical Revenue and Sales volume is displayed, and Supports information is triangulated with the best down and base up ways to deal with figure out the final market measure and to estimate conjecture numbers for key areas shrouded in the Medical Cannabis report along with organised and highly perceived Types and end-use industry. Additionally, the development of the Medical Cannabis and perceptive analysis have shown the explanations of macroeconomic elements and administrative processes.
Putting it All Together –
The Medical Cannabis research is currently segmented according to various types and applications. The Healthcare Cloud Computing market offers a section with an assembly process investigation that has been validated using key information obtained from industry experts and key authorities of profiled companies.
Additionally, the “Demand, Supply, and Effectiveness”
Medical Cannabis report provides information on “Production, Consumption, and (Export and Import).
Medical Cannabis Competition Analysis:
On the basis of their organisation profile, item portfolio, limit, item/benefit worth, bargains, and cost/benefit, leading players have been evaluated.
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Table of Contents
- Executive Summary
- Research Methodology
- Market Overview
- Regional Landscape
- Global Market Analysis and Forecast by Types
- Global Market Analysis and Forecast by Applications
- Global Market Analysis and Forecast by Regions
- North America Market Analysis and Forecast
- Europe Market Analysis and Forecast
- Asia Pacific Market Analysis and Forecast
- Latin America Market Analysis and Forecast
- Middle East & Africa Market Analysis and Forecast
- Competitive Landscape
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