Medical Cannabis Market is expected to grow at a CAGR of 22.8% by 2030

A persuasive Medical Cannabis Market research report gives thorough idea about the current scenario of the global market, recent developments, product launches, joint ventures, capacity, production value, mergers and acquisitions based on several market dynamics. This market report is sure to help businesses for the informed and better decisions thereby managing marketing of goods and services. The report is best to gain a competitive advantage in this quickly transforming marketplace. Transparent, reliable and extensive market information of the wide ranging Medical Cannabis Market report will definitely develop business and improve return on investment (ROI).

The rising number of patients related to chronic diseases globally and an increased inclination towards a healthy lifestyle are some of the factors that are expected to drive market growth. In addition, the rise in the number of product approvals and increasing R&D activities for medical cannabis devices are expected to drive market growth. However, the high cost of medical cannabis devices and procedures, medicinal drugs, safety concerns and adverse effects associated with laser procedures, and lack of awareness about the treatment from laser devices are expected to restrain the market growth. Additional technological advancements in medical cannabis and strategic initiatives by emerging players are expected to act as opportunities for market growth. However, stringent regulations and a lack of skilled professionals are expected to pose a challenge to market growth.

Request a Sample PDF:  https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-medical-cannabis-market&Shri

The use of cannabis as medicine is not rigorously tested due to government restrictions and resulting in limited clinical research to define the efficacy of cannabis in medical and clinical applications. However, preliminary studies suggest that cannabis reduces vomiting and nausea in chemotherapy patients and helps in increasing appetite.

Data Bridge Market Research analyzes that the global medical cannabis market is expected to grow at a CAGR of 22.8% during the forecast period of 2023 to 2030.

Market Overview:

Cannabis is a psychoactive drug that is derived from the cannabis plant of the Cannabaceae family. For several years, it has been used medicinally and has a wide range of applications in the treatment of various diseases including chronic pain, cancer, depression, diabetes, arthritis, glaucoma, epilepsy, migraines, AIDS, and Alzheimer’s among others.

The increased medicinal use of cannabis, the controlled legalization and use of cannabis in various industries, and the advanced methodologies present in the field are some of the factors expected to drive market growth.

Recent Development

• In May 2018, as per the Cannabis Act of the Government of Canada, the cannabis act will create a strict legal framework for controlling the production, distribution, sale, and possession of cannabis across Canada which is meant to keep cannabis out of the hands of youth and profits out of pockets of organized crime by fostering a robust legal and regulated industry.

Some of the major market players operating in this market are MediPharm Labs Inc., Tilray, Aurora Cannabis, JAZZ Pharmaceuticals Inc. (GW Pharmaceuticals plc), HEXO Corp. (Zenabis Global Ltd), Cresco Labs, Peace Naturals Project Inc., CANOPY GROWTH CORPORATION, Medical Marijuana, Inc., Seed Cellar, EcoGen Biosciences, CANNABIS SEEDS USA, Seeds For Me, HUMBOLDT SEED COMPANY, Extractas, World Class Cannabis Seeds (Crop King Seeds), BARNEY’S FARM, FOLIUM BIOSCIENCES, PharmaHemp, Elixinol Global Limited, ENDOCA, Harmony, MARY’S nutritionals, LLC, Pure Ratios, Greenwich Biosciences, Inc., Upstate Elevator Supply Co., Apothecanna, BOL Pharma, and IDT Australia among others.

Browse Complete Report Details- https://www.databridgemarketresearch.com/reports/global-medical-cannabis-market?Shri

Drivers

• Increased use of cannabis in medicines

Medicinal cannabis is derived from cannabis plants and can be used to treat symptoms of certain medical conditions, and the side effects of some treatments. The most common form of medicinal use of cannabis is pain management. There has been gradual acceptance and use of medicinal cannabis with the growing number of countries that have legalized the use of cannabis for various indications. Medical cannabis has been approved for use by the FDA for three indications which are rare and severe forms of epilepsy, Dravet syndrome, and Lennox-Gastaut syndrome and also to treat the spasticity in Multiple Sclerosis (MS).

Medical marijuana uses the marijuana plant or chemicals in it to treat diseases or conditions apart from the approved drugs, there is an increased interest in two cannabinoids which are delta-9-tetrahydrocannabinol and cannabidiol. Tetrahydrocannabinol is shown to improve appetite, minimize fatigue, and manage muscle function issues while cannabidiol is effective for managing epileptic seizures, curing psychiatric illness, and reducing inflammation.

• Legalization of Cannabis

The use and acceptance of medicinal cannabis continue to evolve, as the growing number of states are permitting the use of specific medical indications. Many countries have legalized marijuana for either medicinal or recreational purposes while some other countries with restricted use. In recent years, a growing number of states in the U.S. have legalized the drug for medical or recreational purposes. With the widespread legalization of cannabis, many companies are also becoming proactive and are taking initiatives for the complete legalization of cannabis.

The legalization of marijuana in different parts of the world can be seen as an effort to increase the additional revenue, this way there will be a boost in the revenue without raising taxes. The legalization of cannabis will allow more consumption of it for medicinal or recreational purposes. Moreover, it will also boost the cannabis business, thus creating more demand for cannabis. Hence, the legalization of cannabis is expected to drive market growth.

The report provides insights on the following pointers:

• Market Penetration: Comprehensive information on the product portfolios of the top players in the this market
• Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
• Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies

Critical Insights Related to This Market Included in the Report:

• Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this market
• Value chain analysis of prominent players in the market
• Current trends influencing the dynamics of this market across various geographies
• Recent mergers, acquisitions, collaborations, and partnerships
• Revenue growth of this industry over the forecast period
• Marketing strategy study and growth trends
• Growth driven factor analysis
• Emerging recess segments and region-wise market
• An empirical evaluation of the curve of this market
• Ancient, Present, and Probable scope of the market from both prospect value and volume

Medical Cannabis Market Scope

Product

• Oil
• Dried Medical Cannabis
• Medical Cannabis Capsules
• Vape Pen
• Whole Flower
• Creams & Moisturizer
• Ground Flower
• Patch
• Masks & Serum
• Cleanser
• Others

On the basis of product, the market is segmented into oil, medical cannabis capsules, patch, whole flower, ground flower, vape pen, dried medical cannabis, creams & moisturizer, masks & serum, cleanser, and others.

Source

• Synthetic
• Natural

On the basis of source, the market is segmented into synthetic and natural.

Species

• Cannabis Indica
• Sativa
• Hybrid

On the basis of species, the market is segmented into cannabis indica, sativa, and hybrid.

Derivatives

• Cannabidiol (CBD)
• Tetrahydrocannabinol (THC)/ Delta-8-Tetrahydrocannabinol
• Cannabigerol (CBG)
• Cannabichromene (CBC)
• Cannabinol (CBN)
• Cannabicyclol (CBL)
• Others

On the basis of derivatives, the market is segmented into Cannabidiol (CBD), tetrahydrocannabinol (THC)/delta-8-tetrahydrocannabinol, Cannabinol (CBN), Cannabicyclol (CBL), Cannabichromene (CBC), Cannabigerol (CBG), and others.

Application

• Pain Management
• Anxiety
• Muscle Spasm
• Nausea
• Appetite Loss
• Eating Disorders
• Inflammatory Bowel Diseases
• Cancer
• Arthritis
• Wasting Syndrome (Cachexia)
• Alzheimer’s Disease
• Epilepsy
• Depression and Sleep Disorder
• Multiple Sclerosis
• Autism
• Mental Health Conditions
• Elevate Mood
• Others

On the basis of application, the market is segmented into alzheimer’s disease, appetite loss, cancer, inflammatory bowel diseases, eating disorders, epilepsy, autism, mental health conditions, multiple sclerosis, pain management, nausea, muscle spasms, wasting syndrome (cachexia), elevate mood, multiple sclerosis, depression and sleep disorders, anxiety, and others.

Route of Administration

• Oral Solutions and Capsules
• Smoking
• Vaporizers
• Topicals
• Others

On the basis of route of administration, the market is segmented into oral solutions and capsules, smoking, vaporizers, topicals, and others.

Treatment Type

• Analgesic
• Psychedelic
• Antiviral
• Aphrodisiac
• Expectorant
• Others

On the basis of treatment type, the market is segmented into expectorant, antiviral, analgesic, aphrodisiac, psychedelic, and others.

End User

• Homecare Setting
• Hospital
• Rehab Centers
• Pharmaceutical Industry
• Research and Development Centers
• Others

On the basis of end user, the market is segmented into pharmaceutical industry, research and development centers, homecare settings, hospital, rehab centers, and others.

Distribution Channel

• B2B
• B2C

On the basis of distribution channel, the market is segmented into B2B and B2C.

Browse Detailed Summary of Research Report with TOC:  https://www.databridgemarketresearch.com/toc/?dbmr=global-medical-cannabis-market&Shri

Medical Cannabis Market Regional Analysis/Insights

The global medical cannabis market is segmented into nine notable segments based on product, source, species, derivatives, application, route of administration, treatment type, end user, and distribution channel.

The countries covered in this market report are U.S., Canada, and Mexico, Germany, Italy, U.K., Austria, Poland, Lithuania, Ireland, Netherlands, Norway, Switzerland, France, Russia, Spain, Hungary, Belgium, Turkey, and Rest of Europe, Australia, Thailand, South Korea, Japan, China, New Zealand, Singapore, India, Taiwan, Malaysia, Philippines, and Rest of Asia-Pacific, Brazil, Argentina, Peru, and rest of South America, Israel, South Africa, Lebanon, U.A.E., Kuwait, and rest of Middle East and Africa.

North America is expected to dominate the global medical cannabis market due to the increasing investment in medical cannabis. The U.S. is expected to dominate the North America region due to the legalization of medical cannabis use. Germany is expected to dominate the Europe region due to the increasing demand for medical cannabis in emerging markets and expansion. Australia is expected to dominate the Asia-Pacific region due to the presence of key manufacturers and advanced technological processes.

Top DBMR Healthcare Reports:        

Global Bipolar Disorder Treatment Market – Industry Trends and Forecast to 2029

Global Diabetic Macular Edema Treatment Market – Industry Trends and Forecast to 2029

Global 3D Cone Beam Computed Tomography (CBCT) Systems Market – Industry Trends and Forecast to 2029

Global Pregnancy Care Products Market – Industry Trends and Forecast to 2029

Global Hair and Care Market – Industry Trends and Forecast to 2030

Global Vascular Stent Market – Industry Trends and Forecast to 2029

About Data Bridge Market Research:

An absolute way to forecast what future holds is to comprehend the trend today!

Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavours to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process. Data Bridge is an aftermath of sheer wisdom and experience which was formulated and framed in the year 2015 in Pune.

Data Bridge Market Research has over 500 analysts working in different industries. We have catered more than 40% of the fortune 500 companies globally and have a network of more than 5000+ clientele around the globe. Data Bridge adepts in creating satisfied clients who reckon upon our services and rely on our hard work with certitude. We are content with our glorious 99.9 % client satisfying rate.

Contact Us:-

Data Bridge Market Research
US: +1 888 387 2818
UK: +44 208 089 1725
Hong Kong: +852 8192 7475

Email:- corporatesales@databridgemarketresearch.com