Market Snapshot:
Medicinal Cannabis is a drug that comes from Indian hemp plants including Cannabis sativa and Cannabis indica, which is been used for medial purpose. Cannabis is also majorly adopted for many recreational purpose which is been used in various forms including ingested in teas, sodas, baked goods and also in vaporizing form. It is been prescribed by physicians for their patients. Medical cannabis can be administered through numerous methods, including capsules, lozenges, oral or dermal sprays, tinctures, dermal patches, cannabis edibles, and vaporizing or smoking dried buds.
Highlights from Medicinal Cannabis Market Study
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key Players profiled in the report are Canopy Growth Corporation (Canada), Aurora Cannabis Inc. (Canada), Tikun Olam (Israel), Cannabis Science Inc. (United States), Aphria Inc. (Canada), Maricann Group Inc. (Canada), Tilray Inc. (Canada), VIVO Cannabis Inc. (Canada), Medical Marijuana, Inc. (United States) and STENOCARE (Denmark). Additionally, other players that are part of this comprehensive study are Cronos Group Inc. (Canada), Terra Tech Corp. (United States) and MedMen (United States).
Geographic Breakdown and Segment Analysis
The Global Medicinal Cannabis market presents a comprehensive analysis of the Medicinal Cannabis market by product type (Flowers, Concentrates and Others), by end-user/application (Hospitals, Clinics and Medical Research Centers), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Medicinal Cannabis industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Medicinal Cannabis market
Analyst at AMA have segmented the market study of Global Medicinal Cannabis market by Type, Application and Region.
Influencing Trend:
Advancement in Cultivation and Production Methods
Market Growth Drivers:
Growing Medicinal Application of Cannabis and Increasing Legalization of Medicinal Cannabis
Challenges:
High Initial Investments to Set Up Laboratories Are Expect To Challenge the Market
Restraints:
Complex Regulatory Structure for the Usage of Cannabis and High Cost Related Within Cannabis Testing Equipment
Opportunities:
Product Development Via Research and Novel Product Delivery Solutions
Market Developments Activities:
In February 2024 Curaleaf International, part of Curaleaf Holdings and Europe's largest vertically integrated cannabis company, is pleased to announce its acquisition of Can4Med, a prominent pharmaceutical wholesaler specializing in cannabinoid medications in Poland.
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.
Regulatory Insights:
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.
The global medicinal cannabis market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaboration to intensification their market share and escalation their profitability.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Manufacturers, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries