Medical Marijuana Market to Register Favorable Growth by 2026
SummaryMarijuana provides pain relief in conditions such as fibromyalgia, grand mal seizures, and other medical conditions.
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Marijuana refers to the dried leaves, flowers, stems, and seeds from the hemp plant Cannabis sativa. There are 2 main active chemicals in Marijuanacannabidiol (CBD) and tetrahydocannabinol (THC), which impact the brain and relieve the pain, respectively. Marijuana provides pain relief in conditions such as fibromyalgia, grand mal seizures, and other medical conditions. Similarly, it reduces symptoms of many serious medical conditions such as AIDS, cancer, and glaucoma.
The increase in prevalence of diseases and growth in demand for relieving pain in conditions such as cancer, AIDS, seizures, and other diseases majorly drive the medical marijuana market. In 2016, countries such as Colombia, Macedonia, Israel, Germany, Australia, and others allowed the medical use of marijuana.
Thus, rise in number of countries legalizing the use of medical marijuana is anticipated to fuel the growth of the medical marijuana market during the forecast period. Furthermore, the stringent rules and regulations associated with the medical marijuana such as Medical Marijuana Regulation and Safety Act and increase in number of license issued every year stipulates demand of Marijuana in market.
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Moreover, growth in investment in R&D and increase in business strategies by companies of marijuana is expected to impel the market growth. For instance, in 2016, Gibraltar Industries acquired Nexus Corporation strengthening its position as greenhouse manufacturer and distributor. However, complex regulatory framework to obtain license majorly hinders the medical marijuana market.
The Cannabis market is segmented on the basis of medical application and geography. By medical applications, the market is categorized into chronic pain, migraine, cancer, arthritis, and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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- The study provides an in-depth analysis of the global medical marijuana market, with current trends and future estimations to elucidate the investment pockets.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
- The report provides a quantitative analysis to help the stakeholders to capitalize on prevailing market opportunities.
- Extensive analysis of different segments facilitates to understand various products of the market.
- Key players are profiled and their strategies are analyzed thoroughly, which predict the competitive outlook of the market.
Medical Marijuana Market Key Segments:
By Medical Application
- Chronic Pain
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South Africa
- Rest of LAMEA
List of players profiled in the report
- Cara Therapeutics Inc.
- Canopy Growth
- Insys Therapeutics
- CannaGrow Holdings, Inc.
- Cannabis Sativa, Inc.
- Arena Pharmaceuticals
- GW Pharmaceuticals, plc
- Lexaria Corp
- International Consolidated Companies, Inc.