QY Research has released a special report on the global and U.S. medical marijuana market, bearing the title “2018-2025 Medical Marijuana Report on Global and United States Market, Status and Forecast, by Players, Types and Applications.” The forecast period considered for this report is 2018-2025. As per the findings included in the report, the U.S. medical marijuana market is expected to rise at a colossal CAGR 14.83% between 2017 and 2025. By the end of 2025, the U.S. medical marijuana market is projected to attain a value of more than US$ 24.0 Bn, increasing from that of over US$ 7.90 Bn achieved in 2017.
Increasing research and development on the use of medical marijuana in pain management is foretold to augment the growth of the global and U.S. medical marijuana market. Various clinical trials that highlight the ability of medical marijuana to destroy cancer cells have already been conducted.
Global and U.S. Medical Marijuana Market: Drivers and Restraints
The demand for medical marijuana is envisaged to increase due to the growing awareness about its certain health benefits. Some research studies say that medical marijuana can help with muscle spasms and chronic pain. However, it is not recommended for use during pregnancy.
Cannabinoids can be recommended for patients with glaucoma, migraine, arthritis, and anorexia when regular treatments prove ineffective. Medical marijuana may also be used to help with tics in Tourette syndrome, improve sleep, improve appetite in HIV/AIDS patients, and reduce nausea during chemotherapy.
However, stringent government regulations on the use of cannabinoids in some parts of the U.S. and even other countries of the world are prophesied to challenge the growth of the global and U.S. medical marijuana market. Nonetheless, the gradually increasing legalization of medical marijuana is anticipated to stoke the demand in the global and U.S. medical marijuana market. On the other hand, the improving use of cannabis in therapeutic applications is expected to bode well for the global and U.S. medical marijuana market.
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Global Medical Marijuana Market: Forecast by Product and Application
On the basis of product, the global medical marijuana market is segmented into softgel capsules, oils + concentrates, and dried flower.
By application, the market is classified into Crohn’s disease, seizure disorders, chronic illness (HIV/nerve pain), nausea (from cancer chemotherapy), and muscle spasms.
Global Medical Marijuana Market: Forecast by Region
By geography, the global medical marijuana market is divided into important regions and countries: the MEA, South America, Asia Pacific, Europe, North America, and the U.S.
North American countries, especially the U.S., are prognosticated to play a significant role in the growth of the global medical marijuana market. Any changes in the U.S. market are predicted to show effect on the trend of the development of medical marijuana products.
However, Asia Pacific is foreseen to account for a larger market share in the near future. This is expected to become evident especially in China and fast-growing markets such as Southeast Asia and India. Nevertheless, the contribution of North America and the U.S. cannot be turned a blind eye to.
Global and U.S. Medical Marijuana Market: Key Players
The report profiles leading players operating in the global and U.S. medical marijuana market: Horizons Marijuana Life Sciences Index ETF, CanniMed Therapeutics, Sprott, Insys Therapeutics, MedReLeaf, Aphria, Aurora Cannabis, GW Pharmaceuticals, Canopy Growth, and Scotts Miracle-Gro.
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