The Asia Pacific medical marijuana market is expected to grow from US$ 2,115.23 million in 2022 to US$ 6,203.80 million by 2028. It is estimated to register a CAGR of 19.6% from 2022 to 2028.
Based on product type, the Asia Pacific medical marijuana market is segmented into dried form and extract form. The extract form segment held a larger share of the Asia Pacific medical marijuana market in 2022.
Based on application, the Asia Pacific medical marijuana market is segmented into pain management, Tourette’s, Alzheimer’s disease, migraines, depression and anxiety, multiple sclerosis, cancer, and others. The pain management segment held the largest share of the Asia Pacific medical marijuana market in 2022.
Based on distribution channel, the Asia Pacific medical marijuana market is segmented into retail pharmacy, e-commerce, and others. The retail pharmacy segment held the largest share of the Asia Pacific medical marijuana market in 2022.
Based on country, the Asia Pacific medical marijuana market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific medical marijuana market in 2022.
Aphria, Inc.; Canopy Growth Corporation; GW Pharmaceuticals; and VIVO Cannabis Inc are some of the leading companies operating in the Asia Pacific medical marijuana market.
Reasons to Buy
Regional Trade and Collaboration in the Medical Marijuana Market Fuels Asia Pacific Medical Marijuana Market Growth
The future landscape of the medical marijuana market in Asia holds the promise of increased regional trade and collaborative efforts among neighboring countries. This emerging trend is underpinned by several significant factors. Firstly, as more Asian nations embark on the path of exploring medical marijuana legalization, they stand to benefit from mutual knowledge sharing and resource pooling, expediting the industry’s growth and maturation. Collaborative ventures in areas such as research and development, cultivation techniques, and harmonizing regulatory frameworks can yield efficiencies and foster more effective medical cannabis programs across the region. Moreover, regional trade agreements can be instrumental in facilitating the seamless flow of medical marijuana products across borders, thereby expanding the market’s reach, and fostering a tightly interlinked industry. Collaborative endeavors may encompass the standardization of quality control protocols and the exchange of best practices pertaining to patients access and education.Asia Pacific Medical Marijuana Market Overview
The Asia Pacific medical marijuana market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Asia Pacific is expected to be the fastest-growing region. The market in Asia Pacific is expected to grow rapidly owing to factors such as increasing research on medical cannabis, the rising cannabis industry, and increasing awareness regarding the benefits associated with medical cannabis. However, restrictions on the use of cannabis in the region may hinder the growth of the market during the forecast period.Asia Pacific Medical Marijuana Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific Medical Marijuana Market Segmentation
The Asia Pacific medical marijuana market is segmented into product type, application, distribution channel, and country.Based on product type, the Asia Pacific medical marijuana market is segmented into dried form and extract form. The extract form segment held a larger share of the Asia Pacific medical marijuana market in 2022.
Based on application, the Asia Pacific medical marijuana market is segmented into pain management, Tourette’s, Alzheimer’s disease, migraines, depression and anxiety, multiple sclerosis, cancer, and others. The pain management segment held the largest share of the Asia Pacific medical marijuana market in 2022.
Based on distribution channel, the Asia Pacific medical marijuana market is segmented into retail pharmacy, e-commerce, and others. The retail pharmacy segment held the largest share of the Asia Pacific medical marijuana market in 2022.
Based on country, the Asia Pacific medical marijuana market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific medical marijuana market in 2022.
Aphria, Inc.; Canopy Growth Corporation; GW Pharmaceuticals; and VIVO Cannabis Inc are some of the leading companies operating in the Asia Pacific medical marijuana market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific medical marijuana market .
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific medical marijuana market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
Table of Contents
1. Introduction
3. Research Methodology
4. Asia Pacific Medical Marijuana Market - Market Landscape
5. Asia Pacific Medical Marijuana Market - Key Market Dynamics
6. Medical Marijuana Market -Asia Pacific Analysis
7. Asia Pacific Medical Marijuana Market Revenue and Forecast To 2028- by Product
8. Asia Pacific Medical Marijuana Market Analysis - by Application
9. Asia Pacific Medical Marijuana Market - by Distribution Channel
10. Asia Pacific Medical Marijuana Market Revenue and Forecast to 2028 - Country Analysis
11. Asia Pacific Medical Marijuana Market - Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
Companies Mentioned
- Aphria, Inc.
- Canopy Growth Corporation
- GW Pharmaceuticals
- VIVO Cannabis Inc
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 115 |
| Published | August 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value in 2022 | 2115.23 Million |
| Forecasted Market Value by 2028 | 6203.8 Million |
| Compound Annual Growth Rate | 19.6% |
| Regions Covered | Asia Pacific |
| No. of Companies Mentioned | 4 |
