Medical Cannabis Market Size Status 2021: Revenue with Latest Industry Trends, Demand Growth, New Innovations and Tilray, Elixinol Global Limited, Medical Marijuana
A Worldwide Medical Cannabis Market Research Report encompasses drivers and restraints for the market which are derived from the well-established SWOT analysis. The market report is a synopsis of the market facts, stats and figures for the forecast period of 2021 – 2028. Market definition, market segmentation, key developments in the market, competitive analysis and research methodology are the major topics in which this business document is divided. This industry analysis report covers all the market shares and approaches of the major competitors or the key players in the market. This report provides detailed analysis of global market size, regional and country-level market size, growth, share, competitive Landscape, sales analysis, impact of domestic and global Medical Cannabis Market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations
The Medical Cannabis Market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 25.16% in the forecast period of 2021 to 2028 is expected to reach USD 67,354.01 million by 2028. Increased medical use and legalization of cannabis is acting as a driver for the medical cannabis market.
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Medical Cannabis Market Scenario
Cannabis is a psychoactive drug that is derived from the cannabis plant of the Cannabaceae family. For several years, it has been used medicinally and has wide range of applications in treatment of various diseases including chronic pain, cancer, depression, diabetes, arthritis, glaucoma, epilepsy, migraines, AIDS and Alzheimer’s among others.
The increased usage of cannabis in the cosmetic products can be seen as a driver for the medical cannabis market. Complex regulatory structure for usage of cannabis is a restraint for the medical cannabis market. Novel product development with increased R & D activities may act as an opportunity for the medical cannabis market. The rise of marijuana black market is a challenge for the medical cannabis market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Medical Cannabis market based on the deployment type and application. It also provides market size and forecast till 2028 for overall Medical Cannabis market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
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The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Medical Cannabis market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Medical Cannabis market segments and regions.
Scope of the Report
By Product (Oil, Dried Medical Cannabis, Medical Cannabis Capsules, Vape Pen, Whole Flower, Creams & Moisturizer, Ground Flower, Patch, Mask & Serum, Cleanser, Others), Source (Natural, Synthetic)
By Species (Sativa, Hybrid, Cannabis Indica), Derivatives (Cannabidiol (CBD), Tetrahydrocannabinol (THC)/Delta-8-Tetrahydrocannabinol, Cannabigerol (CBG), Cannabinol, Others), Application (Pain Management, Anxiety, Muscle Spasms, Nausea, Appetite Loss, Cancer, Arthritis, Alzheimer’s Disease, Epilepsy, Depression and Sleep Disorders, Multiple Sclerosis, Autism, Mental Health Conditions, Elevate Mood, Others)
By Route of Administration (Oral Solutions and Capsules, Smoking, Topicals, Vaporizers, Others)
By End User (Homecare Settings, Hospital and Rehab Centers, Pharmaceutical Industry, Research and Development Centers, Others), Distribution Channel (B2C, B2B)
Geographical Regions: North America Country (United States, Canada), South America, Asia Country (China, Japan, India, Korea), Europe Country (Germany, UK, France, Italy), Other Country (Middle East, Africa, GCC)
The Global Medical Cannabis study includes data from 2021 to 2028 useful for industry executives, marketing, sales and product managers, analysts, and anyone looking for market data in easily accessible document.
Medical Cannabis Market – Company Profiles
- Tilray
- Elixinol Global Limited
- Medical Marijuana, Inc.
- Extractas
- Peace Naturals Project Inc
- BOL Pharma
- PharmaHemp
- Kiehl’s (A Subsidiary of L’ORÉAL)
- Vermont Hemp Health
- …..
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of medical cannabis market.
For instance,
In February 2021, MediPharm Labs Inc. received the Cannabis Drug License. This was considered a milestone as MediPharm Labs will now be able to carry out manufacturing and distribution of pharmaceuticals with cannabis as their component. This will help in driving the market growth in coming years.
This report covers the current scenario and growth prospects of Global Medical Cannabis Market for the period 2021 to 2028. The study is a professional and in-depth study with around – no. of tables which provides statistics of actual scenario of industry and acts as valuable guide to direction companies and individuals interested in the domain.
The study elaborates factors of Global Medical Cannabis market such as market opportunities, risk, benefit, opportunity loss and profit along with surveyed customer perspective with a view of Short vs. Long Term goals etc. The detailed company/manufacturer profiles included sales figures, revenue, and price of Medical Cannabis products.
Global Medical Cannabis Market Scope and market size
The medical cannabis market is categorized into eight notable segments which are based on the product, source, species, derivatives, application, route of administration, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
On the basis of product, the medical cannabis market is segmented into oil, medical cannabis capsules, patch, whole flower, ground flower, vape pen, dried medical cannabis, creams & moisturizer, mask & serum, cleanser and others. In 2021, oil segment is expected to dominate the medical cannabis market due to high technology adoption by key players in the market.
On the basis of source, the medical cannabis market is segmented into synthetic and natural. In 2021, synthetic segment is expected to dominate the medical cannabis market because of increasing healthcare expenditure.
On the basis of species, the medical cannabis market is segmented into cannabis indica, sativa and hybrid. In 2021, cannabis indica segment is expected to dominate the medical cannabis market because of increased medicinal use of cannabis.
On the basis of derivatives, the medical cannabis market is segmented into cannabidiol (CBD), tetrahydrocannabinol (THC)/delta-8-tetrahydrocannabinol, cannabinol, cannabigerol (CBG) and others. In 2021, cannabidiol (CBD) segment is expected to dominate the medical cannabis market due to increasing demand of medical marijuana products in the market.
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The research provides answers to the following key questions:
- What is the estimated growth rate of the market for the forecast period 2021–2028? What will be the market size during the estimated period?
- What are the key driving forces responsible for shaping the fate of the Medical Cannabis market during the forecast period?
- Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Medical Cannabis market?
- What are the prominent market trends influencing the development of the Medical Cannabis market across different regions?
- What are the major threats and challenges likely to act as a barrier in the growth of the Medical Cannabis market?
- What are the major opportunities the market leaders can rely on to gain success and profitability?
The Medical Cannabis Market Report Addresses the Following Queries:
- What is the estimated size of the Medical Cannabis market by 2028?
- Which segment accounted or a large share of the Medical Cannabis market in the past?
- Which segment is expected to account the largest market share by 2028?
- Which governing bodies have approved the use of Medical Cannabis?
- Which region accounts for a dominant share of the Medical Cannabis market?
- Which region is anticipated to create lucrative opportunities in the Medical Cannabis market?
Some extract from Table of Contents
- Overview of Global Medical Cannabis Market
- Medical Cannabis Size (Sales Volume) Comparison by Type (2021-2028)
- Medical Cannabis Size (Consumption) and Market Share Comparison by Application (2021-2028)
- Medical Cannabis Size (Value) Comparison by Region (2021-2028)
- Medical Cannabis Sales, Revenue and Growth Rate (2021-2028)
- Medical Cannabis Competitive Situation and Trends
- Players/Suppliers High Performance Pigments Manufacturing Base Distribution, Sales Area, Product Type [,Head-Mounted Displays, Assisted Reality Glasses, Mixed Reality Holographic Displays, Smart Helmets]
- Analyze competitors, including all important parameters of Medical Cannabis
- Global Medical Cannabis Manufacturing Cost Analysis
- Marketing Strategy Analysis, Research Conclusion
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In conclusion, the Medical Cannabis Market report is a reliable source for accessing the research data that is projected to exponentially accelerate your business. The report provides information such as economic scenarios, benefits, limits, trends, market growth rates, and figures. SWOT analysis is also incorporated in the report along with speculation attainability investigation and venture return investigation.
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