Global Medical Marijuana Market: Information by Product Type (Solid, Gas and Dissolvable/Powders), Application (Alzheimer’s Disease, Cancer, Schizophrenia and Multiple Sclerosis), Distribution Channel (Retail & Pharmacy Stores, Online Platforms) and Region – Forecast till 2023
To reach attain USD 54,677.1 million by the year 2023, Global Medical Marijuana Market is predicted to list a CAGR of 34.0%.
Marijuana is a plant having some chemical composite “cannabis” that has medical property. Number of pharmaceutical companies use this plant as a raw material to manufacture drugs for numerous therapeutic applications. Marijuana plants abstracts are also useful to treat the disease and various conditions caused by the disease such as the central nervous system, cancer, Alzheimer’s and used in anti-aging products.
The increasing prevalence of chronic diseases, mounting therapeutic applications of the marijuana plant, rising acceptance of marijuana for medical treatment in many countries, and cumulative authorization of marijuana are predicted to push the market growth. The global medical marijuana market has been mainly driven by the growing research and development activities and financial support by several private and government organizations for cannabinoid research
However, some factors may detain the market growth during the forecast period such as the wide-ranging approval procedures, laborious government policies, and growing illegal use of marijuana.
America held the largest market share in 2017 and the regional market is expected to list a CAGR of 34.0% during the forecast period. Due to the increasing prevalence of Alzheimer disease, cancer, and others American is anticipated to hold the largest market share. Europe is likely to be the second largest market share, with 5.5% from the global medical marijuana market, and the projected fastest growing market is Asia-Pacific.
Envisioned Onlookers are Research Institutes and Academic Centers, Pharmaceutical Companies, Market Research and Consulting, Healthcare Providers, Government Associations, Medical Marijuana Manufacturers,
The segmentation is based on 4 parts. The first part is Global Medical Marijuana Market, by Product Type that has been divided into 4 segments i.e. Ointments & Creams, Dissolvable/ Powders, Ointments & creams. Then second part is Global Medical Marijuana Market, by Application that includes Alzheimer’s Disease, Cancer, Schizophrenia, Multiple Sclerosis. Third segmentation is made on Distribution Channel that includes Retail & Pharmacy Stores, Online Platforms, Others. The last segmentation is based on Region that includes Americas covering North America (US, Canada) and South America, Europe covering Western Europe (Germany, UK, France, Italy, Spain, Rest of Western Europe) and Eastern Europe, Asia-Pacific covering China, Japan, India, Australia, South Korea, Rest of Asia-Pacific, Middle East & Africa covering Middle East and Africa.
The global medical marijuana market, based on region, is divided into the Americas, Europe, Asia-Pacific and the Middle East and Africa.
Cannabis Sativa Inc (Nevada), GEmerald Health Therapeutics Inc. (Victoria, BC), Tilray (Nanaimo, BC), Canopy Growth Corporation (US), Aphria (Ontario), (Nevada) and MediPharm Labs (US) CanniMed Ltd (Canada), Cara Therapeutics (US), Pfizer Inc. (US), Medical Marijuana Inc (US), GBSciences Inc., W Pharmaceuticals Plc (US), are Some of the eminent players in the global medical marijuana market.