Medical Marijuana Market Report 2025

The medical marijuana market size has grown exponentially in recent years. It will grow from $32.96 billion in 2024 to $39.85 billion in 2025 at a compound annual growth rate (CAGR) of 20.9%. The growth in the historic period can be attributed to changing regulatory landscape, growing acceptance of cannabis for medical purposes, expanding list of medical conditions, patient demand for alternative therapies, evolving healthcare provider attitudes.

The medical marijuana market size is expected to see exponential growth in the next few years. It will grow to $89.02 billion in 2029 at a compound annual growth rate (CAGR) of 22.3%. The growth in the forecast period can be attributed to continued regulatory developments, scientific research and evidence, patient education and awareness, expansion of medical marijuana product offerings, integration into mainstream healthcare. Major trends in the forecast period include partnerships with traditional healthcare providers, focus on customized treatment plans, standardization of dosage and labeling, investment and M&A activity.

The rising prevalence of cancer is anticipated to boost the demand for the medical marijuana market in the coming years. Cancer is a condition characterized by the uncontrolled growth of certain cells in the body, which can spread to other areas. Medical marijuana is beneficial for treating cancer patients experiencing neuropathy, nausea, pain, vomiting, loss of appetite, and weight loss. For example, a report from the World Health Organization in February 2024, a Switzerland-based specialized agency focused on international public health, projects that by 2050, there will be over 35 million new cancer cases, representing a 77% increase from the estimated 20 million cases in 2022. Consequently, the increasing prevalence of cancer is expected to drive the growth of the medical marijuana market.

The shifting societal attitudes toward cannabis use are expected to drive the growth of the medical marijuana market in the future. Societal attitudes toward cannabis use encompass the prevailing perceptions, beliefs, and opinions within a community or society regarding the acceptance, legality, and social norms surrounding the consumption and use of cannabis. The cannabis plant and its components are used to alleviate symptoms and treat certain medical conditions under the supervision of a healthcare professional. For example, a survey conducted by the Pew Research Center in October 2022 found that a significant 88% of U.S. adults expressed support for the legalization of marijuana. Specifically, 59% of respondents supported its legalization for both medical and recreational purposes, while 30% supported its legalization solely for medical use. This shift in public opinion indicates a growing acceptance of cannabis use for medical purposes, which is expected to drive the growth of the medical marijuana market. Therefore, the evolving societal attitudes toward cannabis use, as evidenced by increasing support for legalization, are driving the expansion of the medical marijuana market.

Strategic partnerships are becoming a significant trend in the medical marijuana market. Major players in this sector are increasingly focusing on these alliances to broaden their market presence and utilize each other's resources effectively. For example, in October 2024, Trulieve Cannabis Corp., a US-based cannabis retailer, teamed up with Black Buddha Cannabis, a US company known for its wellness brands, to introduce Black Buddha's products in Trulieve dispensaries located in Arizona and Pennsylvania. This collaboration aims to enhance Trulieve's product offerings by incorporating Black Buddha's wellness-focused cannabis lines, specifically the BLYSS and DREAM collections, which highlight therapeutic benefits and carefully curated terpene profiles. Additionally, in January 2022, Trulieve Cannabis Corp. expanded its partnership with Connected Cannabis Co., a premier cannabis cultivator in the US. This expanded partnership is designed to maintain a portfolio of proprietary top-shelf strains.

Major companies in the medical marijuana market are focusing on significant investments in business expansion, particularly the establishment of medical marijuana dispensaries. These efforts aim to improve accessibility for patients and strengthen their presence in the evolving landscape of medical cannabis distribution. Medical marijuana dispensaries are authorized facilities or stores where individuals with valid medical marijuana prescriptions or cards can legally purchase medicinal cannabis products. For example, in July 2023, Botanical Sciences, a Georgia-based medical cannabis provider, opened a medical cannabis dispensary in Pooler, near Savannah, with plans for extensive expansion. The company intends to establish additional outlets in Columbus and Evans, and it aims to further expand its presence by opening dispensaries in Augusta, Chamblee, Marietta, and Stockbridge. In compliance with Georgia's regulations, MMJ operators have the opportunity to open up to six dispensaries each. This strategic focus on expanding dispensary networks reflects a broader trend in the medical marijuana market towards improving patient access and market reach.

In February 2024, Curaleaf International, a UK-based biotechnology research company, acquired Can4Med LLC for an undisclosed amount. This acquisition is intended to enhance Curaleaf's supply chain and improve access to high-quality medical cannabis products for patients in various regions. Can4Med LLC is a pharmaceutical manufacturing company based in Poland.

Major companies operating in the medical marijuana market include Pfizer Inc., Curaleaf Holdings Inc., Trulieve Cannabis Corp, Green Thumb Industries GTI Inc., Cresco Labs Inc., Tilray Inc, Aphria Inc., Canopy Growth Corporation, Jushi Holdings Inc., TerrAscend Corp, Aurora Cannabis Inc., HEXO Corp, MedMen Enterprises Inc., Organigram Holdings Inc., Charlotte's Web Holdings Inc., Vireo Health International Inc., Medical Marijuana Inc., Cara Therapeutics Inc., VIVO Cannabis Inc., Valens GroWorks Corp, Green Relief Inc., Harborside Inc., MediPharm Labs Inc., Tikun Olam Cannbit Ltd., Emerald Health Therapeutics Inc., MedReleaf Corporation, GB Sciences Inc., CanniMed Therapeutics Inc., The Cronos Group Inc., Planet 13 Holdings Inc.

North America was the largest region in the medical marijuana market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global medical marijuana market during forecast period. The regions covered in the medical marijuana market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the medical marijuana market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Medical marijuana refers to products derived from the cannabis plant, which are used for medicinal purposes. It is used to manage conditions such as pain, nausea, and addiction, and is sometimes used as an alternative to traditional medications.

In the medical marijuana industry, the main types of products are dried flower and extracts. Dried flower medical marijuana consists of the smokable, trichome-rich portion of the cannabis plant and is used to treat various mental and physical illnesses or alleviate their symptoms. Medical marijuana is available in various forms such as flower, concentrate, edibles, and others, and is used for pain management, Tourette syndrome, Alzheimer's disease, migraines, depression and anxiety, multiple sclerosis, cancer, and other applications. These products are distributed through retail pharmacies, e-commerce platforms, and other distribution channels.

The medical marijuana market research report is one of a series of new reports that provides medical marijuana market statistics, including medical marijuana industry global market size, regional shares, competitors with a medical marijuana market share, detailed medical marijuana market segments, market trends and opportunities, and any further data you may need to thrive in the medical marijuana industry. This medical marijuana market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The medical marijuana market consists of sales of cartridges, concentrates, flower and extracts. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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