A new Report by Delvens, titled "Medical Cannabis Market” offers a comprehensive analysis of the industry, which comprises insights on the Global analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The Medical Cannabis market size was estimated at USD 16.85 billion in 2023 and is projected to reach USD 68.26 billion in 2030 at a CAGR of 22.12% during the forecast period 2023-2030.
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Medical Cannabis refers to the use of the cannabis plant of its derivatives, such as cannabinoids like THC and CBD, for medical purposes. It is used to treat various conditions, like chronic pain, epilepsy, multiple sclerosis, and nausea associated with chemotherapy and many more.
Medical cannabis can be administered through various methods such as smoking, vaping, edibles, oil and tinctures, topicals, capsules, etc. However, it is important to note that while medical cannabis holds potential benefits, its not without risks.
Regional Analysis
North America to Dominate the Market
North America is estimated to account for the largest market share during the forecast period due to the increasing investment in medical cannabis.
Moreover, the legalization of cannabis in various countries in North America allows the region to dominate the market during the forecast period.
Competitive Landscape
• Aurora Cannabis
• BARNEY'S FARM
• CANNABIS SEEDS USA
• CANOPY GROWTH CORPORATION
• Cresco Labs
• EcoGen Biosciences
• Elixinol Global Limited
• ENDOCA
• Extractas
• FOLIUM BIOSCIENCES
• HEXO Corp. (Zenabis Global Ltd)
• HUMBOLDT SEED COMPANY
• JAZZ Pharmaceuticals Inc. (GW Pharmaceuticals plc)
• Medical Marijuana, Inc.
• MediPharm Labs Inc. and More
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Recent Developments:
In August 2023, White Earth Nation Launches Medical Cannabis Program & Adult-Use Cannabis Sales becoming one of the first dispensaries to legally sell Adult-Use marijuana in Minnesota.
In Feb 2023, BOHECO introduces India’s first line of clinically trialled medical cannabis products. The company plans to provide hemp-based wellness by introducing clinically tested and research backed medical cannabis products.
The Medical Cannabis Market is segmented into various segments such as product, source, species, derivatives, application, route of administration, treatment type, distribution channel and region:
Based on Product
• Oil
• Dried Medical Cannabis
• Medical Cannabis Capsules
• Vape Pen
• Patch
• Masks & Serum
• Cleanser
• Others
Based on Source
• Synthetic
• Natural
Based on Species
• Cannabis Indica
• Sativa
• Hybrid
Based on Derivatives
• Cannabidiol (CBD)
• Tetrahydrocannabinol (THC)/ Delta-8-Tetrahydrocannabinol
• Cannabinol (CBN)
• Cannabicyclol (CBL)
• Others
Based on Application
• Pain Management
• Anxiety
• Muscle Spasm
• Nausea
• Appetite Loss
• Cancer
• Others
Based on Route of Administration
• Oral Solutions and Capsules
• Smoking
• Vaporizers
• Topicals
• Others
Based on Treatment Type
• Analgesic
• Psychedelic
• Others
Based on Distribution Channel
• B2B
• B2C
The Report helps to identify the opportunities in Global Regions:
• North America (the United States, Canada, and Mexico)
• Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
• South America (Brazil etc.)
• The Middle East and Africa (North Africa and GCC Countries)
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In addition to the market data for the Medical Cannabis Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.
Browse More Reports from Delvens:
Cannabis Seeds Market size was estimated at USD 1.8 billion in 2023 and is projected to reach USD 5.9 billion in 2030 at a CAGR of 18.1% during the forecast period 2023-2030.
Global Cannabis Testing Market is anticipated to reach USD 967.5 million in 2021 growing at a CAGR of 13.9% during the forecasting period, 2021-2028.
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