Product Code: RP-ID-10086139 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10086139
Market Overview:
Global Medical Cannabis Market - Analysis By Product Type (Cannabis Indica, Cannabis Sativa, Others), By Application (Chronic Pain, Mental Disorders, Cancer, Others), By Consumption Pattern (Flowers, Concentrates, Edibles, Others), By Region, By Country (2019 Edition): Opportunities and Forecast By Region (North America, Europe, APAC, ROW), By Country (US, Canada, Germany, Italy, Czech Republic, Croatia, Thailand, Australia, Uruguay, Turkey) Outlook 2022-2030
"The global medical cannabis market has shown strong growth during the past few years. Looking ahead, Kenneth Research expects that the market is anticipated to foster at a compound annual growth rate of more than ~20% during the period 2022-2030. Considering the uncertainty of COVID-19, we are constantly tracking and evaluating the direct and indirect impact of the pandemic on different end-use sectors. These insights are included in the report as one of the main contributors to the market.
Cannabis is a psychoactive drug derived from the cannabis plant of the Cannabis family. It was used for medicinal purposes in ancient Indian, Chinese, Egyptian and Islamic cultures. Today, marijuana can be used to treat a variety of diseases and symptoms, including cancer, chronic pain, depression, arthritis, diabetes, glaucoma, migraine, epilepsy, multiple sclerosis, acquired immunodeficiency syndrome (AIDS), muscle atrophy Lateral sclerosis (ALS).
Alzheimer’s disease, post-traumatic stress disorder (PTSD), Parkinson’s disease and Tourette’s disease. Because of its therapeutic benefits, many countries have approved cannabis for medical use, but it is subject to varying degrees of legal restrictions. Some of these countries include Argentina, Brazil, Canada, Chile, Colombia, the Czech Republic, Germany, Italy, Mexico, Spain, the United Kingdom, the United States and Uruguay.
DRIVERS OF THE GLOBAL MEDICAL CANNABIS MARKET :
Compared with other treatment options, cannabis is safer and has fewer side effects. It is also used in conjunction with other treatments to increase its effectiveness or combat undesirable side effects. For example, it is very effective in reducing nausea and increasing appetite in chemotherapy patients. Similarly, it is also used in combination with traditional opioid analgesics, allowing patients to significantly reduce the dose and frequency of opioids, and better relieve pain. As elderly patients are more likely to develop chronic diseases and require more visits, clinical trials, research and development (R&D) activities, and commercialization of cannabis-based indications are expected to promote market growth. Due to its unconventional nature, the use of medical marijuana is less susceptible to fluctuations, so disposable income will change. Therefore, the increase in disposable income is expected to have a positive impact on the demand for medical marijuana.
MAIN MARKET SEGMENTS :
Kenneth Research nalyzed the main trends in each sub-segment of the global medical cannabis market report, as well as global, regional and national growth forecasts from 2022-2030. Our report categorizes the market by region, species, derivative, application, end use, and route of administration.
Variety breakdown: Indica hybrids According to different varieties, the market is segmented into indica, alfalfa and hybrid hemp. Currently, the cannabis market occupies a dominant position with the largest share. Commonly used to treat insomnia, relax muscles, relieve body aches, headaches and migraines. Decomposition of derivatives: Cannabidiol (CBD) Tetrahydrocannabinol (THC) Others. According to different species, the market has been subdivided into indica, alfalfa and hybrid cannabis. Currently, the cannabis market occupies a dominant position with the largest share. Commonly used to treat insomnia, relax muscles, relieve body aches, headaches and migraines.
Derivative decomposition: Cannabidiol (CBD) Tetrahydrocannabinol (THC) Other on the basis of derivatives, the market has been divided into cannabidiol (CBD) ), tetrahydrocannabinol (THC), etc. Due to its non-psychotic effects and low toxicity, CBD is mainly used for medical purposes, while THC is used to reduce the side effects of AIDS and cancer treatment.
Applied; Among them, cancer represents the main category. Other important applications of marijuana include arthritis, migraine, epilepsy, etc. End-use classification: Pharmaceutical industry R&D center Others On the basis of end-use, the market is divided into pharmaceutical industry, R&D center, etc. . Today, the pharmaceutical industry represents the largest end user.
THE ROUTE OF ADMINISTRATION IS BROKEN
Oral liquids and capsules, vaporizers for external use for smoking, etc. According to the route of administration, the market has been divided into oral liquids and capsules for smoking, vaporizers, and external use. Oral solutions and capsules represent the largest market segment and have the largest market share.
In terms of geography, North America (the United States and Canada) leads the market. The recent legalization of cannabis in North America for medical and recreational purposes has been the main driver of market growth. Other key regions include Europe (Germany, Italy, France, the Netherlands, and Spain), Asia Pacific, Latin America, and the Middle East and Africa."
Scotts Miracle-Gro Co, Canopy Growth Corp(Canada), GW Pharmaceuticals PLC, Aurora Cannabis Inc (Canada), Aphria Inc (Canada), MedReLeaf Corp, Medical Marijuana, INC, Insys Therapeutics Inc, CanniMed Therapeutics Inc, Cara Therapeutics Inc.
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