Global Medical Cannabis Market Size, Share, Growth Analysis, By Application(Cancer, Pain Disorders and Others), By Type(Flower, Concentrates)

Description

Global Medical Cannabis Market size was valued at USD 14.50 billion in 2022 and is poised to grow from USD 17.76 billion in 2023 to USD 90.07 billion by 2031, growing at a CAGR of 22.50% in the forecast period (2024-2031).

The legalization of medical marijuana in numerous countries has paved the way for its cultivation, reducing dependency on imports and bolstering tax revenue. Governments worldwide are facilitating the use of cannabis for medical purposes, as evidenced by the Delhi High Court's January 2022 decision permitting its use for medical and scientific ends in India. Extensive research has showcased medical cannabis as an effective and safer alternative for managing chronic pain compared to conventional treatments, with its affordability, natural origin, and lack of side effects being notable advantages. Ongoing studies on its efficacy in chronic pain management are poised to fuel market growth, especially considering the substantial portion of adults, as indicated in a May 2022 report, experiencing chronic pain. With increasing research endeavors and recognition of its medical merits, coupled with legal reforms and advancements in intellectual property rights, the medical cannabis market is projected to expand significantly.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Medical Cannabis Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Medical Cannabis Market Segmental Analysis

Global Medical Cannabis Market is segmented on the basis of type, application and region. By type, the market is segmented into flower, edible, concentrates, others. By application, market is segmented into cancer, pain disorders, others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Medical Cannabis Market

Cannabis has been authorized to address various conditions such as chemotherapy-induced nausea and vomiting, restlessness, muscle tension, and chronic discomfort. Research on the therapeutic potential of cannabis and hemp is rapidly progressing across many industries.

Restraints in the Global Medical Cannabis Market

Consequently, the development of cannabis capsules aims to provide precise and carefully measured doses of a blend of cannabis-based medicinal compounds. The demand for these precisely calibrated cannabis capsule dosages is expected to surge globally due to their potential to effectively address various health conditions such as Alzheimer's disease, cancer, epilepsy, glaucoma, PTSD, muscular spasms, and more.

Market Trends of the Global Medical Cannabis Market

The emergence of a diverse array of cannabis-infused products such as oils, tinctures, capsules, and topical creams reflects a notable trend in the industry. This expansion not only broadens the market but also appeals to a more diverse demographic of patients, indicating a growing interest and acceptance of cannabis-based remedies.

Product Code: SQMIG35I2169

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Medical Cannabis Market by Application

Market Overview
Cancer
Pain Disorders and Others

Global Medical Cannabis Market by Type

Market Overview
Flower
Concentrates
Edible
Others

Global Medical Cannabis Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Aurora Cannabis Inc. (Canada)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Canopy Growth Corporation (Canada)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
GW Pharmaceuticals plc (UK)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Tilray, Inc. (Canada)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Aphria Inc. (Canada)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
MedReleaf Corp. (Canada)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Cronos Group Inc. (Canada)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Maricann Group Inc. (Canada)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Emblem Corp. (Canada)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
CannTrust Holdings Inc. (Canada)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Organigram Holdings Inc. (Canada)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Hexo Corp. (Canada)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Vivo Cannabis Inc. (Canada)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
TerrAscend Corp. (Canada)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Harvest Health & Recreation Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Curaleaf Holdings, Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Trulieve Cannabis Corp. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Columbia Care Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Green Thumb Industries Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Cresco Labs Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Acreage Holdings, Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Medical Cannabis Market Size, Share, Growth Analysis, By Application(Cancer, Pain Disorders and Others), By Type(Flower, Concentrates) - Industry Forecast 2024-2031