On May 2019, South Africa was the first in Africa region who had federally approved for non-prescription CBD. According to the Health Minister Aaron Motsoaledi amended the country’s medicines and related substances Act 1965, on the removal of cannabidiol preparations for nonserious health claims on the recommendation of South African Health Products Regularity Authority.

According to the report, Advancement in Cultivation and Production Methods is one of the primary growth factors for the market. Growing Medicinal Application of Cannabis is also expected to contribute significantly to the Medicinal Cannabis market. Overall, Hospitals applications of Medicinal Cannabis, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Distribution Channel, such as Dispensaries, is boosting the Medicinal Cannabis market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The End Use, such as Pain management, is boosting the Medicinal Cannabis market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Intake, such as Oral Medications, is boosting the Medicinal Cannabis market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

New technologies and major shifts in the industry will be game-changing factors that all players have to react now in order to maintain strong positions in the future. As many industry experts agree that significant changes are ahead. AMA’s Analyst on the Global Medicinal Cannabis market identified that the demand is rising in many different parts of the world as "Product Development Via Research and Novel Product Delivery Solutions". Furthermore, some recent industry insights like "In October 2023, Cantourage Group SE (hereinafter a leading European company for the production and distribution of medical cannabis, has signed a long-term supply agreement for medical cannabis with the Swiss cannabis company Astrasana." which is constantly making the industry very dynamic.

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Medicinal Cannabis market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2023 currency rates.

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Medicinal Cannabis market and other related sub-markets covered in the study.

o Key & emerging players in the market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation
The overall Medicinal Cannabis market size is calculated using market estimation process, the Medicinal Cannabis market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Medicinal Cannabis market size has been validated using both top-down and bottom-up approaches.