Medical Marijuana Market - Global Industry Analysis

Medical Marijuana Market By Type (Flowers, Concentrates, Edibles and Others), By Application (Chronic Pain, Mental Disorders, Cancer, and Others), By End User (Pharmaceutical and Research & Development Centers), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Published Date: 30-May-2022 Category: Pharmaceutical Report Format : PDF Pages: 187 Report Code: ZMR-3424 Status : Published

The global medical marijuana market was worth around USD 11.25 billion in 2021 and is estimated to grow to about USD 51.36 billion by 2028, with a compound annual growth rate (CAGR) of approximately 18.4 percent over the forecast period.

Description

Medical Marijuana Market: Industry Prospective

The global medical marijuana market was worth around USD 11.25 billion in 2021 and is estimated to grow to about USD 51.36 billion by 2028, with a compound annual growth rate (CAGR) of approximately 18.4 percent over the forecast period. The report analyzes the medical marijuana market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the medical marijuana market.

Medical Marijuana Market: Overview

Medical marijuana is a plant-based medicine produced from the genus Cannabis. Cannabis is becoming increasingly popular as a result of its growing medicinal applications. It comes from the Cannabis sativa plant, which is used to treat chronic conditions and control pain. It's used to treat a specific symptom or condition, such as chronic pain, cancer, and mental health issues. Tetrahydrocannabinol (THC) and cannabidiol (CBD) are the two main cannabinoids derived from this plant that have medicinal advantages.

COVID-19 Impact:

The COVID-19 pandemic has had a significant impact on the global medical marijuana market, as there is a question about the impact of cannabis on coronavirus sufferers. The capacity of cannabis to diminish the virus's ability to cause inflammation was investigated at Augusta University in Georgia, although the notion has yet to be proven in human sources. Other studies have found that cannabis has a deleterious impact on COVID-19 patients. Furthermore, throughout the lockdown, the dispensaries and clinics that provided the medicines stayed closed, limiting market expansion.

Global Medical Marijuana Market

Medical Marijuana Market: Growth Drivers

Increased use of cannabis for a variety of medical conditions will help to drive revenue growth.

The marijuana plant was utilized for medical purposes for millennia until it became legal in the early 1900s. The plant's medicinal advantages are expected to raise product demand, resulting in increased market growth. Cannabidiol (CBD) is a nonpsychoactive chemical found in the cannabis plant. CBD is thought to have a variety of medicinal properties. Epidiolex, for example, is a CBD oil extract that is now being tested for epilepsy. Furthermore, nabiximols is a plant extract that has been licensed in Europe for the therapy of spasticity, overactive bladder, multiple sclerosis, neuropathic pain, and other illnesses. According to the latest survey, the most prevalent reasons people use medicinal marijuana are for pain relief, anxiety, depression, muscular stiffness, and a few other ailments. As a result, the expanding number of research studies to uncover additional medicinal uses, together with the increasing number of advantages connected with medical marijuana, will significantly boost the global medical marijuana market growth.

Medical Marijuana Market: Restraints

Side effects allied with the consumption of marijuana can limit the market growth

Despite the growing use of authorized medical marijuana to treat a variety of ailments, the negative side effects linked with marijuana consumption may limit the market growth. Hallucinations, dizziness, low blood pressure, and a few other side effects are expected to limit the major market's expansion. Another important element restricting market development is a lack of public understanding of the numerous linked advantages of marijuana.

Medical Marijuana Market: Opportunities

Increasing awareness regarding the medical importance of marijuana is likely to offer better growth opportunities for market expansion.

The increased understanding of the advantages of medicinal marijuana among medical professionals, healthcare sector experts, and patients has spurred regulatory bodies to consider and allow medical marijuana. Over 30 countries, including the United States, Canada, Argentina, the United Kingdom, Australia, Germany, and many other European countries, have approved its medicinal use through various national efforts. It's also been licensed for medical use in a number of places around the United States. Medical marijuana has been the topic of intense research and debate for decades. The US Food and Drug Administration has authorized many drugs including marijuana-based formulations in healthcare because of their demonstrated medicinal advantages.

Medical Marijuana Market: Challenges.

A limited number of suppliers and distributors around the emerging market pose a major challenge to the market expansion.

Medical marijuana or drugs based on marijuana are largely concentrated in North America and Europe. This is due to the legalization of marijuana for medical purposes, increased awareness among the consumers, high spending power, and well-developed infrastructure for the cultivation and testing of marijuana herbs. However, the situation differs in Asia Pacific where many countries still oppose the use of marijuana and its legalization. This is directly affecting its sale in the region. Also, low awareness and high prices of these drugs make them unsuitable for a low-income population which is why distributors and suppliers in such regions are limited.

Medical Marijuana Market: Segmentation

The global medical marijuana market is categorized into type, application, end-use, and region. Based on type, the market is bifurcated into flowers, edibles, concentrates, and others. The application segment of the market is divided into chronic pain, cancer, mental disorders, and others. The end-user segment is segregated into research & development and pharmaceutical.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Recent Developments

  • April 2020, the Medicinal Cannabis Agency of New Zealand, which is part of the Ministry of Health, has created a new Medical Cannabis Scheme to promote patient access to high-quality medical cannabis products. The Ministry of Health created the program to allow home, commercial production, manufacturing, and distribution of medicinal cannabis while also establishing quality and licensing standards.

Medical Marijuana Market: Regional Landscape

North America is expected to lead the global market over the forecast period.

North America is expected to have the largest share of the global medical marijuana market throughout the forecast period. The United States is the most important country in the cannabis business and is primarily contributing to the region's market expansion. Furthermore, the growing number of legalizations relating to the use of cannabis plants for medicinal and recreational uses in over 30 states in the United States has considerably contributed to the region's expanding income. In addition, the existence of numerous large competitors in the region is a key element boosting the medical marijuana market's growth. Furthermore, the growing amount of private and governmental financing for research into the medicinal relevance of marijuana will support the market expansion. Europe is expected to stay in the second spot in the global market. Market growth in Europe is due to the legalization of marijuana for medical and research purposes.

Medical Marijuana Market: Competitive Landscape

Major players operating in the global medical marijuana market include Cara Therapeutics Inc., Growblox Sciences, Inc., CannaGrow Holdings, Inc., International Consolidated Companies, Inc., Cannabis Sativa, Inc., United Cannabis Corporation, GreenGro Technologies, Inc., GW Pharmaceuticals plc, and Lexaria Corp.

Global medical marijuana market is segmented as follows:

By Type

  • Flowers
  • Edibles
  • Concentrates
  • Others

By Application

  • Chronic Pain
  • Cancer
  • Mental Disorders
  • Others

By End User

  • Research & Development
  • Pharmaceutical

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Medical Marijuana Market, (2022 - 2028) (USD Billion)
    • 2.2 Global Medical Marijuana Market : snapshot
  • Chapter 3. Global Medical Marijuana Market - Industry Analysis
    • 3.1 Medical Marijuana Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increased use of cannabis for a variety of medical conditions will help to drive revenue growth.
    • 3.3 Market Restraints
      • 3.3.1. Side effects allied with the consumption of marijuana can limit the market growth
    • 3.4 Market Opportunities
      • 3.4.1. Increasing awareness regarding the medical importance of marijuana is likely to offer better growth opportunities for market expansion.
    • 3.5 Market Challenges
      • 3.5.1. A limited number of suppliers and distributors around the emerging market pose a major challenge to the market expansion.
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Application
      • 3.7.3 Market attractiveness analysis By End User
  • Chapter 4. Global Medical Marijuana Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Medical Marijuana Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Medical Marijuana Market - Type Analysis
    • 5.1 Global Medical Marijuana Market overview: By Type
      • 5.1.1 Global Medical Marijuana Market share, By Type, 2021 and 2028
    • 5.2 Flowers
      • 5.2.1 Global Medical Marijuana Market by Flowers, 2022 - 2028 (USD Billion)
    • 5.3 Edibles
      • 5.3.1 Global Medical Marijuana Market by Edibles, 2022 - 2028 (USD Billion)
    • 5.4 Concentrates
      • 5.4.1 Global Medical Marijuana Market by Concentrates, 2022 - 2028 (USD Billion)
    • 5.5 Others
      • 5.5.1 Global Medical Marijuana Market by Others, 2022 - 2028 (USD Billion)
  • Chapter 6. Global Medical Marijuana Market - Application Analysis
    • 6.1 Global Medical Marijuana Market overview: By Application
      • 6.1.1 Global Medical Marijuana Market share, By Application, 2021 and 2028
    • 6.2 Chronic Pain
      • 6.2.1 Global Medical Marijuana Market by Chronic Pain, 2022 - 2028 (USD Billion)
    • 6.3 Cancer
      • 6.3.1 Global Medical Marijuana Market by Cancer, 2022 - 2028 (USD Billion)
    • 6.4 Mental Disorders
      • 6.4.1 Global Medical Marijuana Market by Mental Disorders, 2022 - 2028 (USD Billion)
    • 6.5 Others
      • 6.5.1 Global Medical Marijuana Market by Others, 2022 - 2028 (USD Billion)
  • Chapter 7. Global Medical Marijuana Market - End User Analysis
    • 7.1 Global Medical Marijuana Market overview: By End User
      • 7.1.1 Global Medical Marijuana Market share, By End User, 2021 and 2028
    • 7.2 Research & Development
      • 7.2.1 Global Medical Marijuana Market by Research & Development, 2022 - 2028 (USD Billion)
    • 7.3 Pharmaceutical
      • 7.3.1 Global Medical Marijuana Market by Pharmaceutical, 2022 - 2028 (USD Billion)
  • Chapter 8. Medical Marijuana Market - Regional Analysis
    • 8.1 Global Medical Marijuana Market Regional Overview
    • 8.2 Global Medical Marijuana Market Share, by Region, 2021 & 2028 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Medical Marijuana Market, 2022 - 2028 (USD Billion)
        • 8.3.1.1 North America Medical Marijuana Market, by Country, 2022 - 2028 (USD Billion)
    • 8.4 North America Medical Marijuana Market, by Type, 2022 - 2028
      • 8.4.1 North America Medical Marijuana Market, by Type, 2022 - 2028 (USD Billion)
    • 8.5 North America Medical Marijuana Market, by Application, 2022 - 2028
      • 8.5.1 North America Medical Marijuana Market, by Application, 2022 - 2028 (USD Billion)
    • 8.6 North America Medical Marijuana Market, by End User, 2022 - 2028
      • 8.6.1 North America Medical Marijuana Market, by End User, 2022 - 2028 (USD Billion)
    • 8.4. Europe
      • 8.4.2 Europe Medical Marijuana Market, 2022 - 2028 (USD Billion)
        • 8.4.2.1 Europe Medical Marijuana Market, by Country, 2022 - 2028 (USD Billion)
    • 8.4 Europe Medical Marijuana Market, by Type, 2022 - 2028
      • 8.4.1 Europe Medical Marijuana Market, by Type, 2022 - 2028 (USD Billion)
    • 8.5 Europe Medical Marijuana Market, by Application, 2022 - 2028
      • 8.5.1 Europe Medical Marijuana Market, by Application, 2022 - 2028 (USD Billion)
    • 8.6 Europe Medical Marijuana Market, by End User, 2022 - 2028
      • 8.6.1 Europe Medical Marijuana Market, by End User, 2022 - 2028 (USD Billion)
    • 8.5. Asia Pacific
      • 8.5.3 Asia Pacific Medical Marijuana Market, 2022 - 2028 (USD Billion)
        • 8.5.3.1 Asia Pacific Medical Marijuana Market, by Country, 2022 - 2028 (USD Billion)
    • 8.4 Asia Pacific Medical Marijuana Market, by Type, 2022 - 2028
      • 8.4.1 Asia Pacific Medical Marijuana Market, by Type, 2022 - 2028 (USD Billion)
    • 8.5 Asia Pacific Medical Marijuana Market, by Application, 2022 - 2028
      • 8.5.1 Asia Pacific Medical Marijuana Market, by Application, 2022 - 2028 (USD Billion)
    • 8.6 Asia Pacific Medical Marijuana Market, by End User, 2022 - 2028
      • 8.6.1 Asia Pacific Medical Marijuana Market, by End User, 2022 - 2028 (USD Billion)
    • 8.6. Latin America
      • 8.6.4 Latin America Medical Marijuana Market, 2022 - 2028 (USD Billion)
        • 8.6.4.1 Latin America Medical Marijuana Market, by Country, 2022 - 2028 (USD Billion)
    • 8.4 Latin America Medical Marijuana Market, by Type, 2022 - 2028
      • 8.4.1 Latin America Medical Marijuana Market, by Type, 2022 - 2028 (USD Billion)
    • 8.5 Latin America Medical Marijuana Market, by Application, 2022 - 2028
      • 8.5.1 Latin America Medical Marijuana Market, by Application, 2022 - 2028 (USD Billion)
    • 8.6 Latin America Medical Marijuana Market, by End User, 2022 - 2028
      • 8.6.1 Latin America Medical Marijuana Market, by End User, 2022 - 2028 (USD Billion)
    • 8.7. The Middle-East and Africa
      • 8.7.5 The Middle-East and Africa Medical Marijuana Market, 2022 - 2028 (USD Billion)
        • 8.7.5.1 The Middle-East and Africa Medical Marijuana Market, by Country, 2022 - 2028 (USD Billion)
    • 8.4 The Middle-East and Africa Medical Marijuana Market, by Type, 2022 - 2028
      • 8.4.1 The Middle-East and Africa Medical Marijuana Market, by Type, 2022 - 2028 (USD Billion)
    • 8.5 The Middle-East and Africa Medical Marijuana Market, by Application, 2022 - 2028
      • 8.5.1 The Middle-East and Africa Medical Marijuana Market, by Application, 2022 - 2028 (USD Billion)
    • 8.6 The Middle-East and Africa Medical Marijuana Market, by End User, 2022 - 2028
      • 8.6.1 The Middle-East and Africa Medical Marijuana Market, by End User, 2022 - 2028 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Cara Therapeutics Inc.
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Growblox Sciences Inc.
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 CannaGrow Holdings Inc.
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 International Consolidated Companies Inc.
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Cannabis Sativa Inc.
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 United Cannabis Corporation
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 GreenGro Technologies Inc.
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 GW Pharmaceuticals plc
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Lexaria Corp.
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments

Table Of Figures

  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Medical Marijuana Market, 2022 - 2028 (USD Billion)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Medical Marijuana Market attractiveness, By Type
  • 6. Global Medical Marijuana Market attractiveness, By Application
  • 7. Global Medical Marijuana Market attractiveness, By End User
  • 8. Global Medical Marijuana Market share by Type, 2022 and 2028 (USD Billion)
  • 9. Global Medical Marijuana Market by Flowers, 2022 - 2028 (USD Billion)
  • 10. Global Medical Marijuana Market by Edibles, 2022 - 2028 (USD Billion)
  • 11. Global Medical Marijuana Market by Concentrates, 2022 - 2028 (USD Billion)
  • 12. Global Medical Marijuana Market by Others, 2022 - 2028 (USD Billion)
  • 13. Global Medical Marijuana Market share by Application, 2022 and 2028 (USD Billion)
  • 14. Global Medical Marijuana Market by Chronic Pain, 2022 - 2028 (USD Billion)
  • 15. Global Medical Marijuana Market by Cancer, 2022 - 2028 (USD Billion)
  • 16. Global Medical Marijuana Market by Mental Disorders, 2022 - 2028 (USD Billion)
  • 17. Global Medical Marijuana Market by Others, 2022 - 2028 (USD Billion)
  • 18. Global Medical Marijuana Market share by End User, 2022 and 2028 (USD Billion)
  • 19. Global Medical Marijuana Market by Research & Development, 2022 - 2028 (USD Billion)
  • 20. Global Medical Marijuana Market by Pharmaceutical, 2022 - 2028 (USD Billion)
  • 21. Global Medical Marijuana Market share, by Region, 2022 and 2028
  • 22. North America Medical Marijuana Market, 2022 - 2028 (USD Billion)
  • 23. Europe Medical Marijuana Market, 2022 - 2028 (USD Billion)
  • 24. Asia Pacific Medical Marijuana Market, 2022 - 2028 (USD Billion)
  • 25. Latin America Medical Marijuana Market, 2022 - 2028 (USD Billion)
  • 26. The Middle-East and Africa Medical Marijuana Market, 2022 - 2028 (USD Billion)

Table Of Tables

  • 1. Global Medical Marijuana Market: Snapshot
  • 2. Drivers of the Medical Marijuana Market: impact analysis
  • 3. North America Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 4. North America Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 5. North America Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 6. U.S. Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 7. U.S. Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 8. U.S. Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 9. Canada Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 10. Canada Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 11. Canada Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 12. Europe Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 13. Europe Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 14. Europe Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 15. Germany Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 16. Germany Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 17. Germany Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 18. France Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 19. France Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 20. France Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 21. U.K. Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 22. U.K. Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 23. U.K. Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 24. Italy Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 25. Italy Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 26. Italy Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 27. Spain Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 28. Spain Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 29. Spain Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 30. Rest of Europe Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 31. Rest of Europe Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 32. Rest of Europe Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 33. Asia Pacific Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 34. Asia Pacific Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 35. Asia Pacific Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 36. China Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 37. China Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 38. China Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 39. Japan Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 40. Japan Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 41. Japan Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 42. India Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 43. India Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 44. India Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 45. South Korea Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 46. South Korea Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 47. South Korea Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 48. South-East Asia Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 49. South-East Asia Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 50. South-East Asia Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 51. Rest of Asia Pacific Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 52. Rest of Asia Pacific Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 53. Rest of Asia Pacific Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 54. Latin America Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 55. Latin America Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 56. Latin America Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 57. Brazil Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 58. Brazil Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 59. Brazil Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 60. Mexico Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 61. Mexico Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 62. Mexico Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 63. Rest of Latin America Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 64. Rest of Latin America Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 65. Rest of Latin America Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 66. The Middle-East and Africa Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 67. The Middle-East and Africa Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 68. The Middle-East and Africa Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 69. GCC Countries Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 70. GCC Countries Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 71. GCC Countries Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 72. South Africa Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 73. South Africa Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 74. South Africa Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)
  • 75. Rest of Middle-East Africa Medical Marijuana Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 76. Rest of Middle-East Africa Medical Marijuana Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 77. Rest of Middle-East Africa Medical Marijuana Market revenue, By End User, 2022 - 2028 (USD Billion)

Methodology

Free Analysis

Marijuana is a greenish-gray color mixture of dried flowers of cannabis sativa. Medical marijuana is in its inception phase in the medical sector. The chemical characteristics of medical marijuana have their usage in the treatment of various diseases, such as mental disorders, chronic pain, cancer, etc. Marijuana for medicinal uses is steadily finding acceptance in the society globally, which, in turn, is fuelling the expansion of medical marijuana market on a global scale.

Currently, medical marijuana is in its initial phase in the medicinal healthcare industry. It is a revolutionary product that is garnering mass acceptance globally, where Chinese remedies still use such plants and have a long history associated with marijuana. Medical marijuana has the potential to create a huge impact on the healthcare industry to cure cases that are not treatable by traditional medicines. Medical marijuana is basically common marijuana plant used to obtain an authentic composition of cannabinoids required for manufacturing the product needed for medicinal use.

Global Medical Marijuana Market

The medical marijuana market is segmented based on product, application, and distribution channel. By product, the medical marijuana market is bifurcated into dried form and extracts form. Based on application, the market is segmented into pain management, seizure, and others. By distribution channel, the market covers retail pharmacy and e-commerce.

North America accounted for the largest share in the medical marijuana market in 2017 and is likely to register the highest CAGR over the forecast timeframe. The legalization of cannabis in the U.S. for medical uses is one of the key factors contributing to the high growth rate of the medical marijuana market in the region. Moreover, Canada’s move to legalize recreational marijuana is expected to boost market growth in North America in the upcoming years. Europe accounted for the second position in terms of revenue in the global medical marijuana market. 

Some of the leading players in medical marijuana market include MedReleaf Corporation, GW Pharmaceuticals PLC, Canopy Growth Corporation, Green Relief Inc., Aurora Cannabis Inc., Aphria Incorporation, Cannabis Sativa, INC., Medical Marijuana, The Peace Naturals Project, and Insys Therapeutics, Inc. The growing competition among the key players operating in the market, owing to rising acceptance of marijuana for medical use and new product launches by the companies operating in the market are expected to propel the growth of the global market in the future. For instance, on October 4, 2018, the Medical Marijuana Inc., the first publicly traded marijuana company in the U.S., launched its new product, Real Scientific Canada crossways Canada via Canadian formulation and extraction company Salvation Botanicals, Ltd. Moreover, on October 17, 2018, the company launched various cannabis products, which includes internationally-recognized Real Scientific Hemp Oil, which was first Cannabidiol (CBD) product line in the U.S. to receive import permits in Mexico, Brazil, and Paraguay, and to be sold over state lines.

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FrequentlyAsked Questions

Increased use of cannabis for a variety of medical conditions will help to drive revenue growth.

The marijuana plant was utilized for medical purposes for millennia until it became legal in the early 1900s. The plant's medicinal advantages are expected to raise product demand, resulting in increased market growth. Cannabidiol (CBD) is a nonpsychoactive chemical found in the cannabis plant. CBD is thought to have a variety of medicinal properties. Epidiolex, for example, is a CBD oil extract that is now being tested for epilepsy.

According to the Zion Market Research report, the global medical marijuana market was worth about 11.25 (USD billion) in 2021 and is predicted to grow to around 51.36 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 18.4 percent.

North America is expected to have the largest share of the global medical marijuana market throughout the forecast period. The United States is the most important country in the cannabis business and is primarily contributing to the region's market expansion. Furthermore, the growing number of legalizations relating to the use of cannabis plants for medicinal and recreational uses in over 30 states in the United States has considerably contributed to the region's expanding income. In addition, the existence of numerous large competitors in the region is a key element boosting the medical marijuana market's growth.

Major players operating in the global medical marijuana market include Cara Therapeutics Inc., Growblox Sciences, Inc., CannaGrow Holdings, Inc., International Consolidated Companies, Inc., Cannabis Sativa, Inc., United Cannabis Corporation, GreenGro Technologies, Inc., GW Pharmaceuticals plc, and Lexaria Corp.

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