Global Medical Cannabis Market Research Report: By Product form (Powders, Solids, Ointments and creams, Oil, Others), By Derivative (Cannabidiol, Tetrahydrocannabinol), By Application (Arthritis, Cancer, Alzheimer’s Disease, Others) and By Distribution Channel (Retail pharmacy, Online stores, Others) – Forecast to 2027

Overview:

The global market for Medical Cannabis has a better scope for attaining a valuation worth USD 52.35 Billion by 2025. The process would witness growth by 15.4% CAGR between 2019 and 2025, which according to the report of Market Research Future (MRFR) can be considered a forecast period. The global market for medical cannabis has a better chance of growth with the rising instance of chronic diseases and several other medical conditions. These are expected to make significant contributions to manage the growth of the medical cannabis market.

The global market for medical cannabis has substantial growth potential as the market is witnessing its permeation in the healthcare sector for the treatment of cancer, arthritis, schizophrenia, Alzheimer’s disease, and others. Among other factors, the legalization of cannabis-based medicines for the treatment of several diseases and for research purposes are expected to make sure that the market for medical cannabis finds easy growth. Various private and government organizations are showing initiations that can provide scope for growth to the medical cannabis market. However, this is also spurring the illegal intake of cannabis, which can restrain the growth to some extent.

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Segmentation

The global market for medical cannabis can be studied on the basis of a segmentation that includes product form, derivative, application, and distribution channel. These segments are enriched with valuations of various segments and intense analysis of dynamics that can influence the market in the coming days.

By product form, the global market for medical cannabis can be segmented into powders, solids, ointments & creams, oil, and others. The powder segment has the largest market coverage, whereas, the solid segment can register the fastest growth during the forecast period. The ‘others’ segment has lozenges, tinctures, and smoking dried buds.

By derivative, the market for medical cannabis can be read and segmented into cannabidiol (CBD) and Tetrahydrocannabinol (THC). The cannabidiol segment has better market reach as it is more common for its application.

By application, the market for medical cannabis includes arthritis, cancer, Alzheimer’s disease, Schizophrenia, and others. Alzheimer’s Disease can be taken into consideration as the largest segment. Meanwhile, the cancer segment is growing with the fastest surge rate.

By distribution channel, the global market for medical cannabis includes retail pharmacy, online stores, and others. The retail segment has the largest market contribution and the online segment can outrun the growth of others with the fastest CAGR.

Regional Analysis:

The global market for medical cannabis can have a better understanding of various regions that includes the Americas, the Asia Pacific region, and Europe as major contributing ones. The report also discusses Latin America and the Middle East & Africa (MEA) as regions with scope for further growth.

As the largest regional market, the Americas are expected to benefit from contributions made by North America and especially, by countries like the US and Canada. Recently, these countries have implemented laws, that have made the use of cannabis easier in healthcare. The European market would witness growth with the increasing use of marijuana to treat various chronic diseases. The Asia Pacific region is showing prospects of registering the fastest growth during the forecast period. The region is opening up facilities to support cannabis-related studies

Competitive Landscape:

Players displaying interest in taking the global medical cannabis market ahead are Aurora Cannabis (Canada), Maricann Inc. (Canada), Tilray (Canada), Canopy Growth Corporation (Canada), Aphria, Inc. (Canada), Medical Marijuana, Inc. (US), GW Pharmaceuticals PLC (UK), United Cannabis (US), CanniMed Ltd (Canada), Cannabis Sativa Inc. (US), GBSciences Inc. (US), MediPharm Labs (Canada), and others. MRFR registered these companies to get close to changes that can impact the market outcome.

In November 2019, NHS approved two new medicines with cannabis as a foundation to treat diseases like treat epilepsy and multiple sclerosis in England.

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