According to the latest study published by AnalystView Market Insights, by the end of 2025, The global medical marijuana market is expected to reach USD 56.98 billion, growing at the growth rate of 18.3%. This report studies the medical marijuana market status and outlook of global and different regions, from angles of major manufacturers, regulatory perspective, and different applications. This comprehensive report analyzes the top manufacturers in global and major regions, and also provides market share study for leading players operating in this industry.
Marijuana is the most widely used illicit substance across the globe. Guidelines developed by the Diagnostic and Statistical Manual of Mental Disorders (DSM-V) and the International Classification of Diseases (ICD-10) suggested that marijuana is an addictive substance and responsible for dependence disorders. According to the United Nations Office on Drugs and Crime (UNODC), around 13.1 million people are cannabis dependent across the globe. Delta- 9- tetrahydrocannabinol (Delta-9-THC) is the important psychoactive ingredient, the most abundant cannabinoid presents in marijuana. On other side, this substance is rapidly catching market place in the field of medical application owing to its unique properties to treat variety of disease conditions. For example, many research studies suggested marked medical benefits in conditions such as anorexia, cancer chemotherapy, chronic pain, spinal cord injury, spasticity in multiple sclerosis and other conditions with use of cannabis.
Due to this fact, large number of cannabinoids are approved under therapeutic applications. For example, psychoactive cannabinoid, THC (Marinol) is approved for treatment for multiple scelerosis (Canada) due to its strong anti-emetic stimulating properties. Similarly, Sativex, a combination of cannabidiol and THC is approved for spasticity in many countries. Additionally, preclinical research studies have suggested various potential therapeutic use for non-psychoactive phytocannabinoids. CBD exhibits putative therapeutic applications, that can be use for the treatment of psychosis, and seizure disorders. Also, THC is considered to be the another phytocannabinoid, useful in treatment of obesity and epilepsy. This would in turn provide healthy platform for the market growth of medical marijuana globally.
Get access to exclusive PDF brochure of this study @
www.analystviewmarketinsights.com/request_sample/av117/
The market is categorized as Migraine, Arthritis, Cancer, Chronic Pain, and Others. Chronic pain segment achieved largest share of the total medical marijuana market, captured 35.26% share of the market. The use of pain medication is rapidly increasing, imposing a major burden on the healthcare system. The use of medical marijuana is reported to significantly alleviate pain symptoms. On other hand, the use of medical marijuana in migraine is considered to be the lowest revenue generating segment. However, increasing awareness about the effectiveness of medical marijuana in treating migraine coupled with the rising patient base owing to its increasing adoption is likely to drive the market during the forecast period.
Regionally, developed countries of North America and Europe is the big market for medical marijuana Rising prescriptions for the cannabis for various medical indication have surged the demand for medical marijuana in developed regions which will drive the market growth. For example, according to the Marijuana Business Fact Book (2014), more than 730,000 patients have received medical recommendation to use cannabis for different medical indication. Similarly, Health Canada, official forecast projected that medical cannabis patients will grow to 1.2% of the total Canadian population in next 10 years. This industry is predicated to grow at 25% to 28% (i.e. more than 400,000 patients) patient growth by 2024. Huge demand coupled with necessity to include cannabis for medical application will support the market growth.
Owing to its huge benefits in medical application, the market is predicted to grow at slow but steady growth rate in developing regions. Government of some developing regions are considering marijuana as a potential economic opportunity. For example, Agriculture Minister of the Israeli government is researching to develop best ways to grow cannabis. The Health Ministry, having its own medical cannabis department is planning to extend the various licenses to support cannabis industry in the country. Such types of initiatives would in turn support the market growth to great extent during the forecast period.
Companies such as Cara Therapeutics, Cannabis Sativa, International Consolidated Companies, Inc., United Cannabis Corporation, CannaGrow Holdings Inc., Lexaria Corporation and others are present in this market. Companies are researching to develop new drug compound from cannabis THC and the cannabidiol (non-psychoactive). For this, the companies are investing significant share of the revenue on research and development activities.
Click here to obtain more highlight on “Medical Marijuana Market, By Types, and Geography – Analysis, Share, Trends, Size, & Forecast From 2014 – 2025” study @
https://www.analystviewmarketinsights.com/report-highlight-medical-marijuana-market/
Global Medical Marijuana Market: Snapshot
Market, by Types
- Migraine
- Arthritis
- Cancer
- Chronic Pain
- Others
Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- Rest of the World
Market, by Country
- U.S.
- Canada
- Germany
- France
- India
- China
Key players profiled in this report with special attention on competitive landscape includes, (can be further customized to include additional 10 profiles of companies):
Cara Therapeutics
Cannabis Sativa
International Consolidated Companies, Inc.
United Cannabis Corporation
CannaGrow Holdings Inc.
Lexaria Corporation
USP of our key vendor analysis:
Well-designed strategic framework design for these key players will help to understand the market movement including regional expansion, mergers & acquisitions, and new product developments
Thorough SWOT i.e. Strength, Weakness, Opportunities and Threat for individual company profiling is analyzed in order to present a detailed market opportunity assessment.
Key benefits of the report:
- The report presents a macro and micro-level outlook regarding the industry. Thus, it becomes easy for our clients to perceive the business landscape and take a glimpse of their own standing in it.
- A thorough analysis of relevant statistical data to estimate the market paradigms
- Exceptional understanding of region and country-specific markets. The report will answer some of the toughest questions regarding the market shares, sizes, forecasts segmentations, and growth specific to the countries.
- Well-designed strategic framework analyzes the market movements including regional expansion, mergers & acquisitions, and new product developments
Research Methodology:
- Preliminary Data Mining: Secondary Research, Paid Databases, Primary Research
- Data Synthesis & Analysis: Top-Down Approach, Bottom-Up Approach, Supply Side and Demand Side
- Market Formulation: Market Dynamics, Total Addressable Market and Machine Learning Technique
- Data Verification: Quality Assurance and Reach a Conclusion
To enquire more about our research process and report store, please connect @
https://www.analystviewmarketinsights.com/get-in-touch/
About Us
AnalystView Market Insights is a market research and consulting firm that adopts a proactive approach to provide the diverse need for accurate and precise market research, custom research, and consulting solutions across geographies and industry verticals. We strive to develop meaningful and evidence-based research data that helps our clients, empowering organizations and brands of all sizes with strategic analysis, accurate data, and consumer trends for various industries such as Healthcare, Bulk Chemicals, Semiconductors, Electronics, and Foods and Beverages.
Media Contact
Company Name: AnalystView Market Insights
Contact Person: Mr. Jose (Press & Marketing Manager)
Email: Send Email
Phone: +917574985725
Country: United States
Website: www.analystviewmarketinsights.com/request_sample/av118/