The global medical cannabis market is expected to reach an estimated $19.5 billion by 2030 with a CAGR of 16.8% from 2024 to 2030.
The major drivers for this market are increasing legalization and acceptance of medical cannabis, growing awareness of the therapeutic benefits of medical cannabis, and technological advancements in the cultivation and processing of medical cannabis. The future of the global medical cannabis market looks promising with opportunities in the pharmaceutical and research & development center markets.
APAC is expected to witness highest growth over the forecast period due to growth in the use of medical cannabis in research and development for the purpose of drug discovery, an increase in the prevalence of chronic illnesses like cancer and osteoarthritis, and a rise in public knowledge of the advantages of medical cannabis.
Answer: The global medical cannabis market is expected to reach an estimated $19.5 billion by 2030.
Q2. What is the growth forecast for medical cannabis market?
Answer: The global medical cannabis market is expected to grow with a CAGR of 16.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the medical cannabis market?
Answer: The major drivers for this market are increasing legalization and acceptance of medical cannabis, growing awareness of the therapeutic benefits of medical cannabis, and technological advancements in the cultivation and processing of medical cannabis.
Q4. What are the major segments for medical cannabis market?
Answer: The future of the global medical cannabis market looks promising with opportunities in the pharmaceutical and research & development center markets.
Q5. Who are the key medical cannabis market companies?
Answer: Some of the key medical cannabis companies are as follows:
Answer: The publisher forecasts that cannabis extract is expected to witness the highest growth over the forecast period due to rise in preference for cannabis extracts such as oils and tinctures, legalization of marijuana for treatment of various chronic diseases, and new launches of cannabis extract products.
Q7. In medical cannabis market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to growth in the use of medical cannabis in research and development for the purpose of drug discovery, an increase in the prevalence of chronic illnesses like cancer and osteoarthritis, and a rise in public knowledge of the advantages of medical cannabis.
Q.8 Do we receive customization in this report?
Answer: Yes, the publisher provides 10% customization without any additional cost.
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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The major drivers for this market are increasing legalization and acceptance of medical cannabis, growing awareness of the therapeutic benefits of medical cannabis, and technological advancements in the cultivation and processing of medical cannabis. The future of the global medical cannabis market looks promising with opportunities in the pharmaceutical and research & development center markets.
Medical Cannabis by Segment
The study includes a forecast for the global medical cannabis by product type, application, end use, and region.Medical Cannabis Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:
- Buds/Marijuana Flower
- Cannabis Extracts
Medical Cannabis Market by Application [Shipment Analysis by Value from 2018 to 2030]:
- Chronic Pain
- Mental Disorders
- Cancer
- Others
Medical Cannabis Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
- Pharmaceutical
- Research & Development Centers
Medical Cannabis Market by Region [Shipment Analysis by Value from 2018 to 2030]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Medical Cannabis Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies medical cannabis companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the medical cannabis companies profiled in this report include:- Tikun Olam
- Terra Tech
- Aurora marijuana
- Tilray
- Medical Marijuana
- VIVO Cannabis
- Canopy Growth
- Maricann
- Cronos
- OrganiGram
Medical Cannabis Market Insights
Cannabis extract is expected to witness the highest growth over the forecast period due to rise in preference for cannabis extracts such as oils and tinctures, legalization of marijuana for treatment of various chronic diseases, and new launches of cannabis extract products.APAC is expected to witness highest growth over the forecast period due to growth in the use of medical cannabis in research and development for the purpose of drug discovery, an increase in the prevalence of chronic illnesses like cancer and osteoarthritis, and a rise in public knowledge of the advantages of medical cannabis.
Features of the Global Medical Cannabis Market
- Market Size Estimates: Medical cannabis market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Medical cannabis market size by product type, application, end use, and region in terms of value ($B).
- Regional Analysis: Medical cannabis market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different product type, application, end use, and regions for the medical cannabis market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the medical cannabis market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the medical cannabis market size?Answer: The global medical cannabis market is expected to reach an estimated $19.5 billion by 2030.
Q2. What is the growth forecast for medical cannabis market?
Answer: The global medical cannabis market is expected to grow with a CAGR of 16.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the medical cannabis market?
Answer: The major drivers for this market are increasing legalization and acceptance of medical cannabis, growing awareness of the therapeutic benefits of medical cannabis, and technological advancements in the cultivation and processing of medical cannabis.
Q4. What are the major segments for medical cannabis market?
Answer: The future of the global medical cannabis market looks promising with opportunities in the pharmaceutical and research & development center markets.
Q5. Who are the key medical cannabis market companies?
Answer: Some of the key medical cannabis companies are as follows:
- Tikun Olam
- Terra Tech
- Aurora marijuana
- Tilray
- Medical Marijuana
- VIVO Cannabis
- Canopy Growth
- Maricann
- Cronos
- OrganiGram
Answer: The publisher forecasts that cannabis extract is expected to witness the highest growth over the forecast period due to rise in preference for cannabis extracts such as oils and tinctures, legalization of marijuana for treatment of various chronic diseases, and new launches of cannabis extract products.
Q7. In medical cannabis market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to growth in the use of medical cannabis in research and development for the purpose of drug discovery, an increase in the prevalence of chronic illnesses like cancer and osteoarthritis, and a rise in public knowledge of the advantages of medical cannabis.
Q.8 Do we receive customization in this report?
Answer: Yes, the publisher provides 10% customization without any additional cost.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the medical cannabis market by product type (buds/marijuana flower and cannabis extracts), application (chronic pain, mental disorders, cancer, and others), end use (pharmaceutical and research & development centers), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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Table of Contents
1. Executive Summary
2. Global Medical Cannabis Market : Market Dynamics
3. Market Trends and Forecast Analysis from 2018 to 2030
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned
- Tikun Olam
- Terra Tech
- Aurora marijuana
- Tilray
- Medical Marijuana
- VIVO Cannabis
- Canopy Growth
- Maricann
- Cronos
- OrganiGram
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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