The global Medicinal Cannabis Market is estimated at US$ 5,448.4 million in 2021 and is expected to witness a CAGR of +24% over the forecast period (2021 – 2028).
Medicinal cannabis is also known as medical marijuana which is used either to treat disease or to improve their symptoms. The two cannabinoids – delta-9-tetrahydrocannabinol (THC) and Cannabidiol (CBD) are used in treatment of certain disease or health conditions, and applications such as pain management, blood pressure, memory, concentration, appetite, sensory stimulus, muscular problems, and seizures. Various countries around the globe are involved in legalization of export of medicinal cannabis products, which is expected to fuel growth of the medicinal cannabis market. For instance, in January 2018, the government of Australia allowed cannabis producers in the country to export medicinal cannabis and cannabis products in the global market.
Cannabis is safer and has less severe side effects in comparison to other treatment options. It also finds usage along with other treatments either to enhance their efficacy or to combat adverse side effects. For instance, it is very effective in reducing nausea and increasing appetite among chemotherapy patients. Similarly, it is also used in combination with traditional opioid painkillers, which enables patients to reduce the dosage and frequency of opioids significantly and imparts greater pain relief.
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Top Vendors of Medicinal Cannabis Market:-
BOL Pharma, Tilray, Medreleaf Corporation, Aurora Cannabis, Inc., Canopy Growth Corporation, Insys Therapeutics, Inc., Aphria, Inc., MGC Pharmaceuticals Limited, GW Pharmaceuticals, plc., and Medical Marijuana Inc.
Medical Cannabis Market Segments by Species
- Cannabis Indica
Medical Cannabis Market Segments by Derivatives
- Cannabidiol (CBD)
- Tetrahydrocannabinol (THC)
Medical Cannabis Market Segments by Application
- Pharmaceutical Industry
- Research and Development Centers
Medical Cannabis Market Segments by Route of Administration
- Oral Solutions
A thorough study of the competitive landscape of the Medicinal Cannabis Market has been give presenting insights into the company profiles, financial status, recent developments, mergers and acquisitions, and the SWOT analysis. It provides a refined view of the classifications, applications, segmentations, specifications and many more for Medicinal Cannabis Market.
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Complete Analysis of the Medicinal Cannabis Market:
- Comprehensive assessable analysis of the industry is provided for the period of 2020-2028 to help investors to capitalize on the essential market opportunities.
- The key findings and recommendations highlight vital progressive industry trends in the global Medicinal Cannabis market, thereby allowing players to improve effective long term policies
- A complete analysis of the factors that drive market evolution is provided in the report.
- To analyze opportunities in the market for stakeholders by categorizing the high-growth segments of the market
- The numerous opportunities in the Medicinal Cannabis market are also given.
Regionally, the global Medicinal Cannabis market has been classified into different regions such as North America, Latin America, Middle East, Africa, Asia-Pacific, and Africa. The global Medicinal Cannabis market holding the highest market share across the countries. Collectively, the overall analysis of the global market helps to make complex business decisions and helps to navigate global clients towards a successful future.
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