Medical Marijuana Market | Regional Growth Forecast 2020-2025
Category: #headlines  By Ronak Bora  Date: 2020-07-13
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Medical Marijuana Market | Regional Growth Forecast 2020-2025

According to the latest research report, the global medical marijuana market is expected to record 29% CAGR during the forecast period 2019-2025.

Growing demand for legalization of medical marijuana in various states of America and other regions of the world will considerably drive business growth. Medical cannabis works as a therapeutic solution for various disorders. Increasing demand for medical marijuana have encouraged several companies to work on research and development of cannabis-based medical products. Hence, increasing number of companies operating in the marijuana business will significantly drive revenue growth across the forecast timeframe.

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Medical Marijuana Market is expected to exceed USD 59.0 billion by 2025. Rising adoption of medical cannabis in the treatment of chronic pain will significantly impel medical marijuana market growth.

Some major findings of the medical marijuana market report include:

  • Increasing adoption of medical marijuana in various countries such as the U.S. and UK is one of the chief factors propelling medical marijuana business growth across the projected years
  • Increasing applications of medical cannabis in the treatment of several diseases such muscle spasm, cancer pain and neurological disorders will significantly drive market growth
  • Patient convenience and ease of administration are some of the factors that will drive oral medical cannabis segmental growth
  • Increasing number of U.S. states legalizing medical cannabis through online distribution channels will augment business growth
  • Major players operating in the medical marijuana business are Aurora Cannabis Inc., Abcann Medicinals Inc., Aphria Inc., Canopy Growth Corporation, GW Pharmaceuticals, The Supreme Cannabis Company and Tilray

Increasing applications of cannabis in the treatment of chronic pain caused by cancer, HIV/AIDS, arthritis and neurological disorders will considerably drive business growth across the projected years. The anecdotal evidence recommends that marijuana or its compounds help in relieving chronic pain associated with various diseases. Marijuana is composed of tetrahydrocannabinol (THC) and cannabidiol (CBD), that helps in lowering symptoms of nausea and severe pain. Additionally, usage of medical marijuana does not have any major side effects compared to the traditional opioid narcotics that might cause several lethal reactions.

U.S. medical marijuana market is expected to witness considerable growth of 14.2% across the forecast years. High growth is attributed to increased benefits of medical marijuana along with growing prevalence of chronic pain conditions in the U.S. Also, increasing awareness among the people regarding the application of medical marijuana in various ailments will propel the industry growth. Furthermore, majority of the states in the U.S. have already implemented medical marijuana laws, facilitating the application of cannabis for the treatment of various chronic conditions. Applications of medical cannabis include pain, nausea, loss of appetite, multiple sclerosis, and epilepsy, thereby propelling demand in the future.

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Market players are focusing on partnerships, strategic mergers and collaborations with other participants to gain significant revenue share and sustain industrial competition. Prominent players operating in the medical marijuana business are Aurora Cannabis Inc., Abcann Medicinals Inc., Aphria Inc., Canopy Growth Corporation, GW Pharmaceuticals, The Supreme Cannabis Company and Tilray. 

Partial Chapter of the Table of Content

Chapter 2. Executive Summary

2.1. Medical marijuana industry 3600 synopsis, 2014 - 2025

2.1.1. Business trends

2.1.2. Application trends

2.1.3. Route of administration trends

2.1.4. Distribution channel trends

2.1.5. Regional trends

Chapter 3. Medical Marijuana Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2014 – 2018 (USD Million)

3.3. Industry impact forces

3.3.1. Growth drivers

3.3.1.1. Increasing application of marijuana for a myriad of medical conditions and symptoms

3.3.1.2. Growing demand for medical marijuana legalization in several countries

3.3.1.3. Rising number of R&D and clinical trial activities

3.3.2. Industry pitfalls & challenges

3.3.2.1. Few side effects might hinder the market growth

3.3.2.2. Difficulty in medical marijuana business banking

3.4. Growth potential analysis

3.4.1. By application

3.4.2. By route of administration

3.4.3. By distribution channel

3.5. Porter’s analysis

3.6. Value chain analysis

3.7. Legal requirement for distribution of medical marijuana

3.8. Regulatory landscape, by country

3.8.1. U.S.

3.8.2. Canada

3.8.3. The Netherlands

3.8.4. Israel

3.9. Competitive landscape, 2018

3.9.1. Strategy dashboard

3.10. PESTEL analysis

Browse full table of contents (TOC) of this report @ https://www.decresearch.com/toc/detail/medical-marijuana-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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