#Medical Marijuana Market
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Medical Marijuana Market Expected To Achieve Lucrative Growth By 2030
The global medical marijuana market size is expected to reach USD 65.8 billion by 2030 and is expected to expand at a CAGR of 21.80% over the forecast period, according to a new report by Grand View Research, Inc. The major factors attributed to the industry growth are the rapid adoption of cannabis in therapeutic applications and a surge in the number of countries legalizing the usage of medical marijuana.
As per numerous studies, cannabis has shown positive results in the treatment of chronic diseases. Thus, with the growing penetration of chronic disease throughout the globe, the industry is expected to see a steep rise in demand. For instance, as per the data released by the WHO, the chronic disease burden was expected to reach 57% by 2020. The growing research and development activities in the industry are also expected to drive the growth in demand.
Additionally, various factors such as a rise in disposable income, increasing social acceptance of cannabis, and growth in awareness regarding the benefits of the product, along with improvements in intellectual property rights of cannabis are some of the major factors that are expected to fuel the growth of the industry.
Key players are coming together on strategic initiatives such as mergers & acquisitions, collaborations, partnerships, funding & investments, and innovative product developments & launches to expand their expertise & product portfolio. This also fuels the industry’s growth. For instance, in March 2021, Germany's largest pharmaceutical company, Stada entered the medical marijuana market by launching its two flower products, and further, the company has plans to offer five flower products along with three extracts with different compositions of CBD and THC.
One of the major factors that restrict industry growth is the strict regulation policy. To date, FDA has not allowed the marketing usage of cannabis for the treatment of any disease or condition. Although, the organization has approved one cannabis-derived drug product: Epidiolex (cannabidiol), and three synthetic cannabis-related drug products: Marinol (dronabinol), Syndros (dronabinol), and Cesamet (nabilone). These permitted drug products are only available with a prescription from a licensed healthcare provider.
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Medical Marijuana Market Report Highlights
The market size is anticipated to be valued at USD 65.8 million by 2030, owing to the growing legalization of medical marijuana in various countries
In 2022, the oil and tinctures segment dominated the market owing to its growing medical usage for the treatment of chronic pains, cancer, neurological disorders, and others
Chronic pain segment dominated in 2022. The growing number of clinical trials with marijuana to treat neuropathic and chronic pain is one of the key indicators, which highlights the rising usage of cannabis in pain management over the coming few years
North America dominated in 2022 owing to the presence of major players, the increasing rate of cannabis legalization in the U.S., and the launch of new products
Medical Marijuana Market Segmentation
Grand View Research has segmented the global medical marijuana market by product type, application, and region:
Medical Marijuana Product Type Outlook (Revenue, USD Million, 2017 - 2030)
Flower
Oil & Tinctures
Medical Marijuana Application Outlook (Revenue, USD Million, 2017 - 2030)
Cancer
Chronic Pain
Depression and Anxiety
Arthritis
Diabetes
Glaucoma
Migraines
Epilepsy
Multiple Sclerosis
AIDS
Amyotrophic Lateral Sclerosis
Alzheimer’s Disease
Post-Traumatic Stress Disorder (PTSD)
Parkinson's Disease
Tourettes
Others
Medical Marijuana Regional Outlook (Revenue, USD Million, 2017 - 2030)
North America
U.S.
Canada
Europe
Germany
U.K.
Italy
Poland
Czech Republic
Switzerland
Croatia
Netherlands
Spain
Asia Pacific
China
Japan
India
Thailand
Australia
New Zealand
Latin America
Uruguay
Colombia
Brazil
Mexico
MEA
Africa
List of Key Players in the Medical Marijuana Market
Tilray
Aurora Cannabis
Canopy Growth Corporation
Aphria, Inc.
Maricann Group, Inc.
Tikun Olam, Ltd.
MedReleaf. Corp.
GW Pharmaceuticals plc.
Cannabis Sativa, Inc.
Medical Marijuana, Inc.
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The global medical marijuana market size is expected to reach USD 24.52 Billion in 2028 and register a revenue CAGR of 11.5% during the forecast period.
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The Medical Marijuana Market is growing at a CAGR of 17.79% over the next 5 years. Aurora Cannabis, Jazz Pharmaceuticals, Inc., Canopy Growth Corporation, Acreage Holdings, Tilray Brands, Inc. are the major companies operating in Medical Marijuana Market.
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Size Report: Medical Marijuana Market Worth $40Bn by 2028 with 19.2% CAGR Driven by Pain Management Segment During 2022-2028 | The Insight Partners
According to our latest study on "Medical Marijuana Market Size Report, Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Application, and Distribution Channel,” the market size is projected to reach $40.02 billion by 2028; which was valued at $11.7 billion in 2021 and; it is estimated to register a CAGR of 19.2% from 2022 to 2028. The demand for medical marijuana is influenced by increasing approvals of medical marijuana products and rising acceptance of the medicinal use of marijuana in America.
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The global Medical Marijuana market research gives a detailed and practical analysis of the products and services in this market which provides a competitive advantage to the existing and new businesses. In depth study and overview of the market has been collected by the overall insight of the industry and specifies the market segmentation, potential opportunities, growing market trends and events, current and future advancements, and other elements. This report will also showcase many possibilities of upscaling the global Medical Marijuana market share size.
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The Insight Partners published latest research study on "Medical Marijuana Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Dried Form and Extract Form), Application (Pain Management, Tourette Syndrome, Alzheimer's Disease, Migraines, Depression and Anxiety, Multiple Sclerosis, Cancer, and Others), Distribution Channel (Retail Pharmacy, E-Commerce, and Others), and Geography", the global medical marijuana market size was valued at $11.70 Billion in 2021 and is likely to reach value of $
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Medical Marijuana: Breaking Barriers to Healing
Medical marijuana, often referred to as medical cannabis, is a term used to describe the use of the cannabis plant and its derivatives, such as cannabinoids like THC and CBD, for medicinal purposes. This controversial yet increasingly accepted form of treatment has gained traction in recent years due to its potential therapeutic benefits across a wide range of medical conditions.
One of the key components of medical marijuana is cannabinoids, which are chemical compounds found in the cannabis plant. These cannabinoids interact with the body's endocannabinoid system, a complex network of receptors and neurotransmitters involved in regulating various physiological processes such as mood, appetite, pain sensation, and immune response. By modulating the activity of this system, medical marijuana can exert its therapeutic effects.
One of the most well-known uses of medical marijuana is for pain management. Studies have shown that cannabinoids like THC and CBD possess analgesic properties, making them effective in alleviating both acute and chronic pain. This has led to the use of medical marijuana in conditions such as neuropathic pain, arthritis, multiple sclerosis, and cancer-related pain, where conventional treatments may be inadequate or associated with significant side effects.
In addition to pain relief, medical marijuana has shown promise in treating various neurological and psychiatric disorders. For example, CBD, a non-psychoactive cannabinoid found in marijuana, has been studied for its potential anticonvulsant properties, making it a promising option for patients with epilepsy who do not respond to conventional treatments. Furthermore, medical marijuana has been investigated as a potential treatment for conditions such as anxiety, depression, PTSD, and schizophrenia, with some studies suggesting that cannabinoids may help regulate mood and reduce symptoms associated with these disorders.
Moreover, medical marijuana has been found to have anti-inflammatory, antiemetic, and neuroprotective properties, making it potentially useful in conditions such as inflammatory bowel disease, nausea and vomiting associated with chemotherapy, and neurodegenerative diseases like Alzheimer's and Parkinson's.
Despite its potential benefits, medical marijuana remains a topic of debate and controversy due to concerns about its safety, efficacy, and legal status. While research into its therapeutic potential continues, it is essential for patients considering medical marijuana as a treatment option to consult with healthcare professionals knowledgeable about its use and to weigh the potential risks and benefits carefully.
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https://social.studentb.eu/read-blog/181332_medical-marijuana-market-share-overview-competitive-analysis-and-forecast-2031.html
The Medical Marijuana Market in 2023 is US$ 16.84 billion, and is expected to reach US$ 82.75 billion by 2031 at a CAGR of 22.02%.
FutureWise Research published a report that analyzes Medical Marijuana Market trends to predict the market's growth. The report begins with a description of the business environment and explains the commercial summary of the chain structure. Based on the market trends and driving factors presented in the report, clients will be able to plan the roadmap for their products and services taking into account various socio-economic factors.
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The Growing Medical Marijuana Market: Size, Forecast, and Outlook
The medical marijuana market has witnessed remarkable growth in recent years, driven by increasing acceptance of cannabis for therapeutic purposes.
With expanding legalization efforts and growing awareness about the potential health benefits of medical marijuana, the market has emerged as a lucrative sector.
In this article, we will explore the medical marijuana market, its size, forecast, and outlook, while shedding light on key players shaping the industry.
Medical Marijuana Market Size and Growth
The medical marijuana market has experienced significant expansion, with the global industry size reaching new heights. According to market research reports, the market was valued at USD 1.7 billion in 2021 and is projected to surpass USD 4.5 billion by 2027, growing at a CAGR of 7.9% during the forecast period.
The increasing prevalence of chronic diseases such as cancer, multiple sclerosis, and chronic pain conditions has been a driving force behind the demand for medical marijuana.
Patients are seeking alternative treatment options that offer potential relief from symptoms and improve their quality of life. Additionally, the growing geriatric population and the rising acceptance of cannabis in mainstream medicine have further contributed to market growth.
Medical Marijuana Market Forecast
The medical marijuana market shows promising prospects for the future, with a positive forecast indicating sustained growth. The legalization of medical marijuana in several countries and states has opened up new avenues for market expansion.
Moreover, ongoing research on the therapeutic benefits of cannabinoids and the development of innovative delivery methods are expected to fuel market growth.
Industry experts predict that the medical marijuana market will continue to flourish, Factors such as favorable regulatory frameworks, increased investment in research and development, and expanding patient awareness are anticipated to drive market growth during the forecast period.
Medical Marijuana Market Outlook
The medical marijuana market's outlook remains optimistic, with several factors contributing to its continued expansion. One of the key drivers is the growing acceptance of cannabis as a valid medical treatment option. Governments around the world are recognizing the potential benefits of medical marijuana and implementing regulations to facilitate its use.
Furthermore, the increasing number of countries legalizing medical marijuana has created a conducive environment for market growth. This trend has not only provided patients with greater access to cannabis-based treatments but has also attracted medical marijuana companies to expand their operations globally.
Key Players in the Medical Marijuana Market
The medical marijuana market is characterized by the presence of numerous companies striving to establish a strong foothold in the industry. These companies are engaged in various activities, including cultivation, processing, and distribution of medical cannabis products.
These companies are actively involved in product development, strategic collaborations, and mergers and acquisitions to gain a competitive edge in the market. By leveraging their expertise and resources, these key players are contributing to the overall growth and development of the medical marijuana industry.
Conclusion
The medical marijuana market has witnessed remarkable growth in recent years, driven by increasing acceptance and awareness of cannabis-based treatments.
With a positive market outlook and a favorable regulatory landscape, the industry is poised for continued expansion.
The medical marijuana market size is projected to reach new heights, providing patients with alternative treatment options and opening up opportunities for medical marijuana companies to thrive.
As the medical marijuana market evolves, it is crucial for stakeholders to stay updated with the latest developments and regulations governing the industry. By keeping a pulse on emerging trends and innovations, both patients and companies can benefit from the transformative potential of medical marijuana in improving healthcare outcomes.
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