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Global Medical Marijuana Market: About this market
medical marijuana market analysis considers sales from chronic pain, nausea, and other applications. Our study also finds the sales of medical marijuana in APAC, Europe, MEA, North America, and South America. In 2019, the chronic pain segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the high prevalence of chronic pain among adults in the US will play a significant role in the chronic pain segment to maintain its market position. Also, our global medical marijuana market report looks at factors such as the rising number of product launches, an increasing number of medical marijuana dispensaries, and plans to increase production and availability of medical marijuana by governments. However, side effects associated with inappropriate use of medical marijuana, accessibility issues and high price associated with medical marijuana, and stringent regulations may hamper the growth of the medical marijuana industry over the forecast period.
Global Medical Marijuana Market: Overview
Increase production and availability of medical marijuana by governments
The increasing demand for marijuana from dispensaries and patients for medical applications is encouraging marijuana growers and government organizations to improve access to legal marijuana for medical research. This is encouraging various governments such as the US government to issue plans to legalize the production of marijuana and expand the number of entities that are certified to grow marijuana plants. This will allow users to place orders for medical marijuana products. Thus, the plans to increase the production and availability of medical marijuana by governments will lead to the expansion of the global medical marijuana market at a CAGR of over 24% during the forecast period.
Increase in funding for research and production of medical marijuana
The legalization of medical marijuana in many countries has provided vendors with opportunities to find new medicinal uses of marijuana. Government organizations in many countries are focusing on funding research on medical marijuana. Some of the vendors are also receiving funds for expanding the production of medical marijuana. For instance, the Department of Health in Australia announced funding for research on the use of marijuana to help cancer patients. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global medical marijuana market during the forecast period 2020-2024, click here.
With the presence of several major players, the global medical marijuana market is fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading medical marijuana manufacturers, that include Aphria Inc., Aurora Cannabis Inc., Cannabis Sativa Inc., Canopy Growth Corp., Cronos Group Inc., GW Pharmaceuticals Plc, mCig Inc., Medical Marijuana Inc., United Cannabis Corp., and Vivo Cannabis Inc.
Also, the medical marijuana market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
medical marijuana market analysis considers sales from chronic pain, nausea, and other applications. Our study also finds the sales of medical marijuana in APAC, Europe, MEA, North America, and South America. In 2019, the chronic pain segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the high prevalence of chronic pain among adults in the US will play a significant role in the chronic pain segment to maintain its market position. Also, our global medical marijuana market report looks at factors such as the rising number of product launches, an increasing number of medical marijuana dispensaries, and plans to increase production and availability of medical marijuana by governments. However, side effects associated with inappropriate use of medical marijuana, accessibility issues and high price associated with medical marijuana, and stringent regulations may hamper the growth of the medical marijuana industry over the forecast period.
Global Medical Marijuana Market: Overview
Increase production and availability of medical marijuana by governments
The increasing demand for marijuana from dispensaries and patients for medical applications is encouraging marijuana growers and government organizations to improve access to legal marijuana for medical research. This is encouraging various governments such as the US government to issue plans to legalize the production of marijuana and expand the number of entities that are certified to grow marijuana plants. This will allow users to place orders for medical marijuana products. Thus, the plans to increase the production and availability of medical marijuana by governments will lead to the expansion of the global medical marijuana market at a CAGR of over 24% during the forecast period.
Increase in funding for research and production of medical marijuana
The legalization of medical marijuana in many countries has provided vendors with opportunities to find new medicinal uses of marijuana. Government organizations in many countries are focusing on funding research on medical marijuana. Some of the vendors are also receiving funds for expanding the production of medical marijuana. For instance, the Department of Health in Australia announced funding for research on the use of marijuana to help cancer patients. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global medical marijuana market during the forecast period 2020-2024, click here.
Competitive Landscape
With the presence of several major players, the global medical marijuana market is fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading medical marijuana manufacturers, that include Aphria Inc., Aurora Cannabis Inc., Cannabis Sativa Inc., Canopy Growth Corp., Cronos Group Inc., GW Pharmaceuticals Plc, mCig Inc., Medical Marijuana Inc., United Cannabis Corp., and Vivo Cannabis Inc.
Also, the medical marijuana market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
