Medical Cannabis Market Growth – at a CAGR of 11.5%, Market Trends – Legalization of marijuana in various countries
VANCOUVER, BC, CANADA, October 26, 2021 /EINPresswire.com/ — The global medical cannabis market size is expected to reach USD 24.52 Billion at a steady revenue CAGR of 11.5% in 2028, according to latest analysis by Emergen Research. The Global Medical Cannabis Market Report offers extensive knowledge and information about the Medical Cannabis market pertaining to market size, market share, growth influencing factors, opportunities, and current and emerging trends. The report is formulated with the updated and latest information of the global Medical Cannabis market further validated and verified by the industry experts and professionals. Increase in medical cannabis products and the rise in research activities are driving the market revenue growth. Moreover, legalization of the product in several countries is also propelling growth of the market.
Medical cannabis is deemed safer and has fewer side-effect as compared to other treatment options. It is used to treat nausea and combat negative side-effects, especially among patients undergoing chemotherapy, making the whole procedure more tolerable. Rise in geriatric population is also fueling market growth as older people are more susceptible to illness and experience a high level of pain. Research and development activities, clinical trials, and commercialization of the product will also foster market growth.
The product is used with other opioid painkillers, which permits patients to reduce the dosage and frequency of opioids, relieving pain. Legalization of marijuana throughout the country could create up to 1 million jobs by 2025 in the U.S. Workers are needed to farm, process, distribute and sell marijuana and its related products. Medical cannabis has not only created jobs but have also generated significant amount of taxes. For instance, Colorado, in 2019, collected more than USD 302 million in taxes and fees on medical and recreational marijuana.
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Some Key Highlights in the Report
In October 2020, MediPharm Labs Corp. signed an exclusive supply agreement with STADA to meet the growing demand for medical cannabis in Germany. STADA wanted to be the go-to partner for generics, which is achieved by the partnership.
Oil segment is expected to register significant growth rate during the forecast period due to high demand for hemp oil among healthcare workers for clinical purposes. Cannabidiol (CBD) oil can reduce depression and anxiety, alleviate cancer-related symptoms, and relieves pain. CBD oil can also treat acne owing to its ability to reduce sebum production and anti-inflammatory properties.
The latest research report by Emergen research, named ‘Global Medical Cannabis Market – Forecast to 2027’, entails a comprehensive review of the global Medical Cannabis market’s present and future trends. The report additionally sheds light on the emerging growth opportunities in the business sphere that are anticipated to bolster the growth of the market. The report sheds light on the mergers and acquisitions, collaborations, joint ventures, brand promotions and product launches, agreements and partnerships, and corporate and government deals.
Top competitors of the Medical Cannabis Market profiled in the report include:
Canopy Growth Corporation, Aphria, Inc., Aurora Cannabis, Maricann Group, Inc., Tilray, Cronos Group, Organigram Holdings, Inc., Vivo Cannabis, Tikun Olam, and Insys Therapeutics, Inc.
To learn more details about the Global Medical Cannabis Market report, visit @ https://www.emergenresearch.com/industry-report/medical-cannabis-market
Additionally, the report provides an extensive analysis of the Medical Cannabis market, including key data, such as factors influencing the growth of the market, buyers and vendors, production and consumption, and revenue. Furthermore, the report provides a comprehensive overview of the Medical Cannabis market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.
The report aims to deliver a comprehensive understanding of the Medical Cannabis market growth and expansion in each key region of the world. It offers accurate estimations about the expected market size and growth over the projected timeline of 2020-2027.
Middle East & Africa
Emergen Research has segmented the global Medical Cannabis market on the basis of product type, application, and route of administration, distribution channel, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, USD Billion; 2018-2028)
Route of Administration Outlook (Revenue, USD Billion; 2018-2028)
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
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Key Points Covered in This Section:
Estimated revenue generation
Vital data and information about the consumption rate in all the leading regional segments
An expected rise in market share
Forecast growth in the overall consumption rate
Table of Content
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Key Insights
Chapter 4. Medical Cannabis Market Segmentation & Impact Analysis
4.1. Medical Cannabis Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. Growing adoption of medical marijuana for treatment of chronic diseases
188.8.131.52. Growing legalization of medical marijuana in various countries
4.2.3. Market restraints analysis
184.108.40.206. Lower market access of marijuana due to absence of legalization programs
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Medical Cannabis Market By Product Type Insights & Trends Revenue (USD Million)
5.1. Product Type Dynamics & Market Share, 2021 & 2028
Key Questions Answered in the Report:
What are the key growth driving and restraining factors of the Medical Cannabis market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What is the growth rate of the Medical Cannabis market? What is the anticipated market valuation of Medical Cannabis industry by 2027?
Besides offering a vivid depiction of the global Medical Cannabis business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2027).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
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