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 has been assessed using an extensive mixture of primary and secondary research, along with the benchmark research methodologies. The evaluation is a vital segment of the estimation and evaluation of the market size and forecast estimations. The data curated by primary and secondary research has been validated and verified by industry experts and professionals. The report also covers SWOT analysis and Porter’s Five Forces analysis to provide insightful information about 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. The product is used with other opioid painkillers, which permits patients to reduce the dosage and frequency of opioids, relieving pain.
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Key Highlights From The Report
- In October 2020, 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.
- 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.
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)
The market is spread across several key geographical regions, and the report covers the regional analysis as well as the production, consumption, revenue, and market share in those regions for the forecast period of 2020-2027. The regions include North America, Latin America, Europe, AsiaPacific, and Middle East and Africa.
Comprehensive Regional Analysis Covers the Following Regions:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Benefits of the Global Medical Cannabis Market Report:
- Comprehensive analysis of the changing competitive landscape
- Assists in decision making processes for the businesses along with detailed strategic planning methodologies
- The report offers an 8-year forecast estimation and assessment of the Global Medical Cannabis Market
- Helps in understanding the key product segments and their estimated growth rate
- In-depth analysis of market drivers, restraints, trends, and opportunities
- Comprehensive regional analysis of the Global Medical Cannabis Market
- Extensive profiling of the key stakeholders of the business sphere
- Detailed analysis of the factors influencing the growth of the Global Medical Cannabis Market
Table Of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
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. Market indicators analysis
4.2.2. Market drivers analysis
18.104.22.168. Growing adoption of medical marijuana for treatment of chronic diseases
22.214.171.124. Growing legalization of medical marijuana in various countries
4.2.3. Market restraints analysis
126.96.36.199. Lower market access of marijuana due to absence of legalization programs
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 5. Medical Cannabis Market By Product Type Insights & Trends Revenue (USD Million)
5.1. Product Type Dynamics & Market Share, 2019 & 2027
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