Medical Cannabis industry is still in its nascent stage & will develop significantly in the coming years. Increasing use of marijuana in therapeutic applications such as pain management in neurology, cancer, HIV/AIDS, seizures, & nausea will drive the medical cannabis market growth
— The research report on ‘global medical cannabis market’ provides a detailed market analysis with market share and major players operating in the market. The report also covers the comprehensive outlook of technology, product specification, production analysis, and product type with the help of some key factors such as gross margin, cost, and revenue. The global medical cannabis market report offers in-depth study market segmentation depending on several regions. The report also contains the qualitative and quantitative analysis of market players.
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Global medical cannabis market size is valued at US$ 7.26 billion from US$ 56.70 billion at a recorded CAGR of 29.3% over the forecast period. Increasing countries approving the utilization of cannabis, increasing edible products, and rising Research & Development activities are fueling the global medical cannabis market growth. In addition, rising growth of therapies with cannabis expected to drive the global medical cannabis market growth.
The global medical cannabis market segmentation is done with the help of indication and geographical regions. By indication, the global medical cannabis market is divided into neurological disease, pain management, and many others. However, the pain management segment is accounted for the highest global medical cannabis market share of 60%, and it is likely to dominate its growth over the forecast period. Many patients with lasting disorders need medical cannabis and it is anticipated to boost the global medical cannabis market growth during the prediction period. Likewise, medical cannabis shows positive results in number of chronic diseases such as Alzheimer’s, Parkinson’s, and Epilepsy.
Medical Cannabis Market Size by Indication (Pain Management, Neurological disorders, and others) by Region and Forecast 2016 to 2026 @ https://www.adroitmarketresearch.com/industry-reports/medical-cannabis-market
Based on regional landscape, the global medical cannabis market is sub-segmented into the North America, Asia Pacific, Europe, MEA, and Central & South America. In between these, the North America region dominated for the highest global medical cannabis market share over the forecast period. However, Canada and United States are major regions which authorized medical cannabis with maximum number of consumers. Increased awareness about medical usage and its benefits in chronic disease are projected to rise rapidly than the North American market.
North America dominates the global medical cannabis market by contributing over 90% of total revenue, of which majority comes from the U.S. Additionally, legalization in Canada is expected to grow at a faster CAGR compared to the U.S., on account of growth phase of Canadian market. The total number of patients using medical cannabis in Canada has increased in the past few quarters with corresponding increase in the number of licensed producers. This increase in number of medical cannabis users has led to a spike in revenues for companies. Such prevailing dynamics in the Canadian market is expected to attract investors in the coming years.
The global medical cannabis market is highly competitive owing to the large number of leading competitors playing in the market. These players are trying to stand their position in the global as well as local market. They use several strategies such as merger & acquisition, new product launches, and R&D activities. Some top players operating in this market are Maricann Group, Inc., Aphria, Inc., ABcann Medicinals, GW Pharmaceuticals, Organigram Holding, Inc., and Lexaria Corp.
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Key Segments of the Global Medical Cannabis Market
Indication Overview, 2016-2026 (USD Billion)
• Pain Management
• Neurological Disease
Regional Overview, 2015-2025 (USD Million)
• North America
• Asia Pacific
• New Zealand
• Central & South America
• Middle East & Africa
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Major points from Table of Contents:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Medical cannabis Market Overview, By Indication
Chapter 5. Key Country Market
Chapter 6. Company Profiles
Grasp advance knowledge on Global Medical Cannabis Industry through in-depth Blogs, White Paper & Infographics:
Access the Blog: “Medical Cannabis Helpful For Insomnia Patients”
Across North America sleep disorders are very common now. Actually, many of the approximations are suggesting one in four Canadians suffering from insomnia, making it a common disorder of sleep.
Access the White Paper “All You Need To Know About Medical Cannabis”
Recent United States Cannabis Research and Policy & Law Cannabis has validated health benefits since past few years. However, less than 6% of current studies on marijuana investigate its medical properties, periodicals to date specify that cannabis shows promise for the treatment of several diseases and symptoms. Though, patients with cancer and chronic pain, for ex. have been blocked from such benefits since the mid-20th century when government regulations were sanctioned that banned the sales, use, and distribution of cannabis due to its psychoactive properties.
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