Medical Cannabis Market: Emerging Trends, Key Players and Comprehensive Research
Medical Cannabis Market – Overview
According to MRFR analysis, the global medical cannabis market is expected to register a CAGR of ~15.4% during the forecast period of 2019 to 2025 and was valued at USD 13.6 million in 2018.
Marijuana is a plant containing a chemical compound known as cannabis that has curative properties. This plant is used as a raw material by various pharmaceutical companies to manufacture drugs for various therapeutic applications. The legal use of cannabis for medical and purposes is increasing, but it varies across countries, based on the distribution, possession, cultivation, and medical indications for its consumption.
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The rise in the occurrence of serious diseases that have the need for pain management is expected to motivate the overall medical cannabis industry in the forecast period. Moreover, the presence of appropriate outlets for the distribution of medical cannabis is expected to elevate the market development in the forecast period.
Medical Cannabis Market Segmental Analysis
The segmental investigation of the medical cannabis market is conducted on the basis of product form, derivative, application, distribution channel, region. On the basis of product form, the medical cannabis market is segmented into solids, powders, ointments & creams, oil, others. Based on the derivative, the medical cannabis market is segmented into tetrahydrocannabinol (THC) and cannabidiol (CBD). On the basis of application, the medical cannabis market is segmented into Alzheimer’s disease, cancer, arthritis, and schizophrenia. On the basis of the distribution channels, the medical cannabis market is divided into online stores and retail pharmacy. Based on the region, the medical cannabis market is segmented into Europe, the Americas, Middle East, Asia-Pacific, and Africa.
Medical Cannabis Market Detailed Regional Analysis
The regional examination of the medical cannabis market includes regions such as Europe, the Americas, Middle East, Asia-Pacific, and Africa. The region in the Americas is anticipated to be the principal market due to the collective incidence of medical cannabis products and increasing per capita healthcare spending. The increasing occurrence of cancer cases has improved the development of the medical cannabis market in the Asia-Pacific, which is also expected to be the fastest-growing. The Middle East & Africa medical cannabis market is also expected to gain momentum in the duration of the forecast period.
Medical Cannabis Market Key Players
Some of the key players in the global medical cannabis market are Canopy Growth Corporation (Canada), Aphria, Inc. (Canada), Maricann Inc. (Canada), Tilray (Canada), GW Pharmaceuticals PLC (UK), Medical Marijuana, Inc. (US), Cannabis Sativa Inc. (US), Aurora Cannabis (Canada), CanniMed Ltd (Canada), MediPharm Labs (Canada), United Cannabis (US), and GBSciences Inc. (US).
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Medical Cannabis Industry Updates:
Feb 2020 Europe’s leading independent cannabis company, EMMAC Life Sciences Group is combining pioneering science and research with pioneering extraction, cultivation, and production has recently introduced the presentation of Medican, the primary operational distance pharmacy in the UK devoted to delivering medical cannabis prescriptions.
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