(MENAFN- EIN Presswire)
The Medical Cannabis market to reach US$ 52.1 Billion by 2027, exhibiting a CAGR of 10.4% during 2022-2027.
SHERIDAN, WY, USA, November 14, 2022 / / -- According to IMARC Group's latest report, titled“𝐌𝐞𝐝𝐢𝐜𝐚𝐥 𝐂𝐚𝐧𝐧𝐚𝐛𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐆𝐥𝐨𝐛𝐚𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟐𝟐-𝟐𝟎𝟐𝟕”, the reached US$ 26.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 52.1 Billion by 2027, exhibiting a CAGR of 10.4% during 2022-2027.
Medical cannabis, or hash and dope, represents a group of three psychoactive plants known as Cannabis Sativa, Indica, and Ruderalis, which are cultivated in tropical and temperate areas. It is usually made from cannabis Sativa flowers and leaves that are extensively dried and cured to enhance flavor and create cleaner and smoother smoke. Medical cannabis possesses soothing, therapeutic, and sedating properties that lower depression levels and treat glaucoma and chronic pain. Apart from this, the regular consumption of medical cannabis aids in treating post-traumatic stress disorder and acquired immunodeficiency syndrome (AIDS). Consequently, it is used in capsules, lozenges, dermal patches and edible forms for treatment purposes after prescription.
𝐆𝐞𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
𝐌𝐞𝐝𝐢𝐜𝐚𝐥 𝐂𝐚𝐧𝐧𝐚𝐛𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:
The growing consumer awareness regarding the product availability and its several therapeutic benefits and the increasing need for cannabis-based therapies are primarily driving the market growth. As compared to conventional alternative treatments, a medical hash is safer and has fewer adverse effects; thus, it is extensively employed in conjunction with therapies to enhance its effectiveness and minimize undesirable side effects. Moreover, the extensive inhalation of medical cannabis to reduce episodes of epileptic seizures and several oncology-related health complications, as they have active compounds, including cannabidiol (CBD) and tetrahydrocannabinol (THC), is favoring the market growth. Besides this, the increasing disposable incomes, fueling product demand in the nutraceuticals industry, and the ongoing initiatives undertaken by governments of different regions to promote to legalize cannabis for medical purposes are positively stimulating the market growth.
𝐂𝐡𝐞𝐜𝐤𝐨𝐮𝐭 𝐍𝐨𝐰:
Competitive Landscape with Key Players:
The competitive landscape of the medical cannabis market has been studied in the report with the detailed profiles of the key players operating in the market.
𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞𝐬𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧𝐜𝐥𝐮𝐝𝐞:
•Canopy Growth Corporation
•GW Pharmaceuticals, plc
•Aurora Cannabis, Inc.
•Aphria, Inc.
•MedReleaf Corporation
•Insys Therapeutics, Inc.
•CanniMed Therapeutics, Inc.
•Cara Therapeutics, Inc.
•United Cannabis Corporation
Key Market Segmentation:
The report has segmented the medical cannabis market on the basis of species, derivatives, application, end-use, route of administration and region.
Breakup by Species:
•Indica
•Sativa
•Hybrid
Breakup by Derivatives:
•Cannabidiol (CBD)
•Tetrahydrocannabinol (THC)
•Others
Breakup by Application:
•Cancer
•Arthritis
•Migraine
•Epilepsy
•Others
Breakup by End-Use:
•Pharmaceutical Industry
•Research and Development Centres
•Others
Breakup by Route of Administration:
•Oral Solutions and Capsules
•Vaporizers
•Topicals
•Others
Breakup by Region:
•North America (United States, Canada)
•Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
•Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
•Latin America (Brazil, Mexico, Others)
•Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)
𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐎𝐂 & 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐅𝐢𝐠𝐮𝐫𝐞𝐬:
Key Highlights of the Report:
•Market Performance (2016-2021)
•Market Outlook (2022-2027)
•Market Trends
•Market Drivers and Success Factors
•Impact of COVID-19
•Value Chain Analysis
•Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Elena Anderson
IMARC Services Private Limited
+1 6317911145