Medical marijuana, also known as medical cannabis, refers to the use of the marijuana plant or its chemicals for medicinal purposes. The cannabis plant contains over 100 different chemicals called cannabinoids, some of which have been found to have therapeutic benefits for certain medical conditions.
The global Medical Marijuana Market size was valued at USD 7.8 billion in 2021. The market is projected to grow USD 27.7 billion in 2028, at a CAGR of 22.4%. Medical marijuana, often known as medical cannabis, is an herbal plant-based drug derived from which is used to treat a specific symptom or disease like cancer, chronic pain, or mental disorders.
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Medical marijuana is prescribed by a qualified healthcare professional and is used to treat a variety of conditions, including chronic pain, nausea, muscle spasms, seizures, and anxiety. It is typically consumed by smoking, vaporizing, or ingesting it in various forms such as edibles, tinctures, or capsules.
Key Players in the Global Market to Focus on Expanding their Customer Base:-
Prominent Companies to Establish Various Corporate Strategies to Aid in Global Expansion. These players are focusing on strategic collaborations and partnerships to expand their market presence and strengthen their product portfolio.
Major Players Driving the Growth of the Medical Marijuana Market:
- Tilray
- Canopy Growth Corporation
- Aurora Cannabis Inc.
- Maricann Group Inc.
- Aphria Inc
- CannTrust Inc.
- Trulieve
- Emerald Health Therapeutics
- Tikun Olam
- GW Pharmaceuticals
- Cannabis Sativa
- Medical Marijuana, Inc.
- MedReleaf Corp
- Others
SEGMENTATION
By Type
- Flowers
- Concentrates
- Edibles
- Others
By Application
- Chronic Pain
- Arthritis
- Migraine
- Cancer
- Others
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By Distribution Channel
- Dispensary
- Online
- Others
By Region
- North America
- Europe
- Asia Pacific
- The Middle East & Africa
- South America
Why Purchase the Report?
- The report includes information such as market dynamics scenario, opportunities and challenges during the forecast period
- Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
- Regional, sub-regional, and country-level data include the demand and supply forces along with their influence on the market.
- The competitive landscape comprises a share of key players, offering products, relevant financial information, recent developments, SWOT analysis, and strategies.
- Understand the current market scenario and viability of the global market over the forecast period.
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Some of the key questions answered in this report:
- What can we estimate about the anticipated growth rates and also the global Medical marijuana industry size by 2028?
- What will happen in the coming existing and emerging markets?
- What will the market development pace of market?
- Which are the five top players in the Medical marijuana market?
- How will the Medical marijuana market change in the upcoming years?
KEY INDUSTRY DEVELOPMENTS:
February 2022- Tilray has announced the medical cannabis division in Malta. The company has completed its first sale of medical cannabis across pharmacies providing patients safe access to high-quality medical cannabis.
TABLE OF CONTENTS-
- Executive Summary
- Research Methodology
- Market Outlook
- COVID-19 Impact on Global Medical Marijuana Market
- Global Medical Marijuana Market Overview, By Type, 2015 – 2028(USD Million)
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