The Morocco medical cannabis market size is expected to reach USD 537.70 million by 2030, registering a CAGR of 48.0% during the forecast period, based on a new report by the publisher. The medical cannabis market in Morocco is witnessing substantial growth due to various factors. The legalization and regulation of cannabis production and export have created opportunities for domestic cultivation and the development of a thriving industry. Additionally, there is a rising global demand for medical cannabis, driven by the increasing acceptance and recognition of its therapeutic potential. Furthermore, the medical cannabis market presents economic opportunities, attracting investments and generating jobs in the cultivation and manufacturing sectors.
The growing demand for marijuana is one of the main growth drivers for Morocco's medical cannabis industry. The country has a long history of marijuana cultivation in the northern region, making it one of the largest producers in the world. However, the industry has traditionally been informal and unregulated. Recognizing the potential economic benefits, the Moroccan government has taken steps to legalize and regulate the cannabis sector, responding to the global demand for legal marijuana.
The adoption of marijuana is on the rise, fueled by increased awareness of its medical benefits and easy availability. In countries where marijuana has been legalized or decriminalized, illegal purchases have decreased as more people opt for legal channels to obtain marijuana for medical purposes. Moreover, legalization offers governments an opportunity to generate revenue through taxation, which can then be utilized for various development programs in education and infrastructure. As a result, the legalization of marijuana has spurred demand in these countries, mitigating the impact of the illicit market.
However, the growth of the market in Morocco may face obstacles with the legalization of cannabis for selected indications. Regulatory restrictions on usage, production, and distribution, including limited patient access, strict licensing requirements, and limitations on product types, have the potential to hinder market expansion. The complex and time-consuming process of obtaining regulatory approvals may discourage new entrants and stifle innovation within the industry. Furthermore, the medical community's acceptance and understanding of marijuana are still evolving, and public perception and stigma surrounding cannabis use, even for medical purposes, can impede widespread adoption and patient demand.
Despite these challenges, as regulatory frameworks mature, research advances and awareness grows, the overall growth potential of the market in Morocco remains promising. With the government's recognition of the industry's economic benefits and the increasing demand for marijuana worldwide, the market has the opportunity to thrive in the long run, benefiting patients, businesses, and the overall economy.
The growing demand for marijuana is one of the main growth drivers for Morocco's medical cannabis industry. The country has a long history of marijuana cultivation in the northern region, making it one of the largest producers in the world. However, the industry has traditionally been informal and unregulated. Recognizing the potential economic benefits, the Moroccan government has taken steps to legalize and regulate the cannabis sector, responding to the global demand for legal marijuana.
The adoption of marijuana is on the rise, fueled by increased awareness of its medical benefits and easy availability. In countries where marijuana has been legalized or decriminalized, illegal purchases have decreased as more people opt for legal channels to obtain marijuana for medical purposes. Moreover, legalization offers governments an opportunity to generate revenue through taxation, which can then be utilized for various development programs in education and infrastructure. As a result, the legalization of marijuana has spurred demand in these countries, mitigating the impact of the illicit market.
However, the growth of the market in Morocco may face obstacles with the legalization of cannabis for selected indications. Regulatory restrictions on usage, production, and distribution, including limited patient access, strict licensing requirements, and limitations on product types, have the potential to hinder market expansion. The complex and time-consuming process of obtaining regulatory approvals may discourage new entrants and stifle innovation within the industry. Furthermore, the medical community's acceptance and understanding of marijuana are still evolving, and public perception and stigma surrounding cannabis use, even for medical purposes, can impede widespread adoption and patient demand.
Despite these challenges, as regulatory frameworks mature, research advances and awareness grows, the overall growth potential of the market in Morocco remains promising. With the government's recognition of the industry's economic benefits and the increasing demand for marijuana worldwide, the market has the opportunity to thrive in the long run, benefiting patients, businesses, and the overall economy.
Morocco Medical Cannabis Market Report Highlights
- Based on product, the market is segmented into flowers, oils & tinctures. The oils & tinctures segment held the majority of the revenue share of 51.3% in 2022
- The oils & tinctures segment is expected to grow at the fastest CAGR of 48.8% over the forecast period
- Based on application, chronic pain held the majority share of 27.3% in 2022. Its growth can be attributed to research indicating the beneficial effects of marijuana in mitigating pain and the significant incidence of chronic pain
- The Tourette’s syndrome segment is expected to grow at a significant CAGR of 54.0% during the forecast period, owing to an increasing number of patients exploring the potential benefits of marijuana-based treatments
Table of Contents
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Morocco Medical Cannabis Market Variables, Trends & Scope
Chapter 4 Morocco Medical Cannabis Market: Product Estimates & Trend Analysis
Chapter 5 Morocco Medical Cannabis Analytics Market: Application Estimates & Trend Analysis
Chapter 6 Competitive Landscape and Analysis
List of Tables
List of Figures
Companies Mentioned
- Bio Cannat
- PharmaCielo Ltd
Methodology
LOADING...
