Medical Cannabis Market Size, Share 2021, Trends, Demand, Revenue, Consumption, Export and Import, Product Category, Application, Cost Analysis, Price, Gross Margin and CAGR of 25.16%
The new report by Data Bridge Market Research titled, ‘Global Medical Cannabis Market Size, Share, Growth and Forecast to 2028, gives an in-depth analysis of the global Medical Cannabis market, assessing the market based on its segments like by product, formulation, indication, application, end use and major regions. This report also focuses on important aspects such as in-depth analysis of the latest developments, market size, share, revenue, demand, growth, status, upcoming technologies, industry drivers, challenges, regulatory policies, with key company profiles and strategies of players. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
Data Bridge Market Research analyses that the Global Medical Cannabis Market is growing at a CAGR of 25.16% in the forecast period of 2021 to 2028 is expected to reach USD 67,354.01 million by 2028. Increased medical use and legalization of cannabis is acting as a driver for the medical cannabis market.
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Medical Cannabis Market is growing due to increased usage of cannabis seeds in cosmetic products. However, complex regulatory structure for usage of cannabis acts as a restraint for its growth in the market.
Medical Cannabis Market Scenario
According to Data Bridge Market Research, the market for medical cannabis in North America region has the highest market share followed by Europe and Asia-Pacific. Market leader is MediPharm Labs Inc. which accounts an estimated market share of approximately 17.56% in the North American region.
The Global Medical Cannabis Market 2021 research provides a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Global Medical Cannabis market report is provided for the international markets as well as development trends, competitive landscape analysis, and key regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed. This report additionally states import/export consumption, supply and demand Figures, cost, price, revenue and gross margins.
The segments and sub-section of Medical Cannabis market are shown below:
By Product (Oil, Dried Medical Cannabis, Medical Cannabis Capsules, Vape Pen, Whole Flower, Creams & Moisturizer, Ground Flower, Patch, Mask & Serum, Cleanser, Others)
By Source (Natural, Synthetic)
By Species (Sativa, Hybrid, Cannabis Indica)
By Derivatives (Cannabidiol (CBD), Tetrahydrocannabinol (THC)/Delta-8-Tetrahydrocannabinol, Cannabigerol (CBG), Cannabinol, Others)
By Application (Pain Management, Anxiety, Muscle Spasms, Nausea, Appetite Loss, Cancer, Arthritis, Alzheimer’s Disease, Epilepsy, Depression and Sleep Disorders, Multiple Sclerosis, Autism, Mental Health Conditions, Elevate Mood, Others)
By Route of Administration (Oral Solutions and Capsules, Smoking, Topicals, Vaporizers, Others)
By End User (Homecare Settings, Hospital and Rehab Centers, Pharmaceutical Industry, Research and Development Centers, Others)
By Distribution Channel (B2C, B2B)
Some of the Key Players/Manufacturers involved in the Market are –
- Elixinol Global Limited
- Medical Marijuana, Inc.
- Peace Naturals Project Inc.
- BOL Pharma
- PharmaHemp, Kiehl’s (A Subsidiary of L’ORÉAL)
- Vermont Hemp Health
- Discover Health LLC
- Pacific roots
- CANOPY GROWTH CORPORATION
- Aurora Cannabis
- GW Pharmaceuticals plc.
- Pure Ratios
- MARY’s nutritionals
- Bioactive Solutions, Inc.
- Upstate Elevator Supply Co.
- FOLIUM BIOSCIENCES
- EcoGen Biosciences
- Althea Company Pty Ltd (A Subsidiary of Althea Group Holdings Limited)
- Zenabis Global Ltd
- Cresco Labs
- IDT Australia
- Greenwich Biosciences, Inc.
- MediPharm Labs Inc.
- THC Global Group Limited
- Seed Cellar
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The report also focuses on global major leading industry players of worldwide Medical Cannabis market providing information like company profiles, product picture and specification, capacity, production, price, cost, revenue and get in touch with information. Upstream raw materials and equipment and downstream demand analysis is additionally administered. The worldwide Medical Cannabis market development trends and marketing channels are analyzed. Finally, the feasibility of latest investment projects is assessed and overall research conclusions offered.
Trends Impacting the Market
Now the question is which other regions MediPharm Labs Inc. Aphria Inc. and Tilray are targeting? Data Bridge Market Research has estimated a large growth in North Medical cannabis market and the market leaders targeting U.S, Canada and Mexico to be their next revenue pockets for 2020.
The medical cannabis market is becoming more competitive every year with companies such as MediPharm Labs Inc. Aphria Inc. and Tilray as they are the market leaders for medical cannabis. The Data Bridge Market Research new reports highlight the major growth factors and opportunities in the medical cannabis market.
Global Medical Cannabis Market Scope and market size
The medical cannabis market is categorized into eight notable segments which are based on the product, source, species, derivatives, application, route of administration, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
On the basis of product, the medical cannabis market is segmented into oil, medical cannabis capsules, patch, whole flower, ground flower, vape pen, dried medical cannabis, creams & moisturizer, mask & serum, cleanser and others. In 2021, oil segment is expected to dominate the medical cannabis market due to high technology adoption by key players in the market.
On the basis of source, the medical cannabis market is segmented into synthetic and natural. In 2021, synthetic segment is expected to dominate the medical cannabis market because of increasing healthcare expenditure.
On the basis of species, the medical cannabis market is segmented into cannabis indica, sativa and hybrid. In 2021, cannabis indica segment is expected to dominate the medical cannabis market because of increased medicinal use of cannabis.
On the basis of derivatives, the medical cannabis market is segmented into cannabidiol (CBD), tetrahydrocannabinol (THC)/delta-8-tetrahydrocannabinol, cannabinol, cannabigerol (CBG) and others. In 2021, cannabidiol (CBD) segment is expected to dominate the medical cannabis market due to increasing demand of medical marijuana products in the market.
On the basis of application, the medical cannabis market is segmented into Alzheimer’s disease, appetite loss, cancer, epilepsy, autism, mental health conditions, multiple sclerosis, pain management, nausea, muscle spasms, arthritis, elevate mood, depression and sleep disorders, anxiety and others. In 2021, Alzheimer’s disease segment is expected to dominate the medical cannabis market because of increasing R&D activities.
On the basis of route of administration, the medical cannabis market is segmented into oral solutions and capsules, smoking, vaporizers, topicals and others. In 2021, oral solutions and capsules segment is expected to dominate the medical cannabis market because of rising prevalence of chronic diseases.
On the basis of end user, the medical cannabis market is segmented into pharmaceutical industry, research and development centers, homecare settings, hospital and rehab centers and others. In 2021, pharmaceutical industry segment is expected to dominate the medical cannabis market because of increasing geriatric population and prevalence of chronic diseases.
On the basis of distribution channel, the medical cannabis market is segmented into B2B and B2C. In 2021, B2B segment is expected to dominate the medical cannabis market because of increasing demand of cannabis for medical and clinical purposes
Key Answers Captured in Study are
Which geography would have better demand for product/services?
What strategies of big players help them acquire share in regional market?
Countries that may see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
How feasible is market for long term investment?
What opportunity the country would offer for existing and new players in the Medical Cannabis market?
Risk side analysis involved with suppliers in specific geography?
What influencing factors driving the demand of Medical Cannabis near future?
What is the impact analysis of various factors in the Global Medical Cannabis market growth?
What are the recent trends in the regional market and how successful they are?
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If opting for the Global version of Medical Cannabis Market analysis is provided for major regions as follows:
- North America (USA, Canada and Mexico)
- Europe (Germany, France, the United Kingdom, Netherlands, Russia , Italy and Rest of Europe)
- Asia-Pacific (China, Japan, Australia, New Zealand, South Korea, India and Southeast Asia)
- South America (Brazil, Argentina, Colombia, rest of countries etc.)
- Middle East and Africa (Saudi Arabia, United Arab Emirates, Israel, Egypt, Nigeria and South Africa)
Important years considered in the study are:
Historical year – 2010-2020 ; Base year – 2020; Forecast period** – 2021 to 2028 [** unless otherwise stated]
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There are 15 Chapters to display the Global Medical Cannabis market.
Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of Global Medical Cannabis market, Applications, Market Segment by Types;
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Medical Cannabis Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show Five forces (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation[North America (Covered in Chapter 9), United States, Canada, Mexico, Europe (Covered in Chapter 10), Germany, UK, France, Italy, Spain, Russia, Others, Asia-Pacific (Covered in Chapter 11), China, Japan, South Korea, Australia, India, South America (Covered in Chapter 12), Brazil, Argentina, Columbia, Middle East and Africa (Covered in Chapter 13), UAE, Egypt & South Africa ], comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, to identify major decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Global Medical Cannabis Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels
Chapter 13 and 14, about vendor landscape (classification and Market Ranking)
Chapter 15, deals with Global Medical Cannabis Market sales channel, distributors, Research Findings and Conclusion, appendix and data source.
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Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia or Oceania [Australia and New Zealand].
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