Medical Marijuana Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: CanniMed Therapeutics, Scotts Miracle-Gro, Canopy Growth Corporation, Aurora Cannabis

Acknowledging the kind of traction gained by this market, Industry data Analytics recently published a study report asserts the global Medical Marijuana Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 20.9% during the review period (2022 to 2027).

Medical Marijuana Market Overview

The market is experiencing growth due to rising awareness regarding various medical applications such as pain management, appetite enhancement, and reducing eye pressure.Medical marijuana is mainly classified into two types, namely Cannabis Sativa and Cannabis indica, which originate from the countries of the Western hemisphere and Central and South Asian regions respectively. The growing number of countries legalizing the use of medical marijuana in various parts of this world is one of the key factors driving the usage rate of cannabis in therapeutic applications.

Based on application, the pain management segment is expected to dominate this market, owing to increasing incidence of pain related conditions, such as migraine, cancer pain and others. For instance, in previous year, the Centers for Disease Control and Prevention (CDC) reported that an estimated 50 million Americans, or just over 20%, have some form of chronic pain. People suffering from chronic pain tend to adopt high dosage of painkiller for instant relief. Though, growing intake of painkillers may result in multiple side effects. Hence, the medical community initiated the usage of cannabis as an alternative for pain management, thereby augmenting the market growth.

Industry Developments:

21 Dec 2020: Tilray Inc. and Aphria Inc. have agreed to an all-stock merger, which would create the world's largest cannabis company by sales. The merger will result in a company holding a whopping 17% share of the Canadian cannabis market and is a strategic move that will likely provide each company security about their future in a post-pandemic world. The combined company is reported to have an implied pro forma equity value of $3.9 bn.

Who are the Major Players in Medical Marijuana Market?

The Medical Marijuana Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market includes CanniMed Therapeutics, Scotts Miracle-Gro, Canopy Growth Corporation, Aurora Cannabis, Aphria Inc., CannTrust Holdings, GW Pharmaceuticals, MedReleaf Corp, ABcann Medicinals, Inc., Emerald Health Therapeutics, Green Relief Inc., The Cronos Group, Medical Marijuana, Inc., and others.

What are the major Applications, Types and Regions for Medical Marijuana Market?

Medical Marijuana Market is segmented based on the type, applications, companies and regions.

By Type, it is segmented into

• Dried Flower


• Oils + Concentrates


• Softgel Capsules

By Application it is segmented into

• Muscle Spasms


• Nausea (from cancer chemotherapy)


• Chronic Illness (HIV/Nerve Pain)


• Seizure Disorders


• Crohn's Disease

Medical Marijuana Market Regional Analysis

The market in North America is poised to hold maximum market share across the forecast period 2022-2027. The region held lion’s share owing to the U.S. being the most prominent country for cannabis market. Furthermore, growing number of legalizations pertaining to the usage of cannabis plant for medical as well as recreational purposes in more than 30 states of the U.S. have significantly contributed to the growing revenue of the region.

Moreover, Europe is the second largest region cultivating cannabis for medical conditions and adult use. The marijuana industry in Europe is expected to witness lucrative growth across the forecast period due to increasing legalizations coupled with rising investments by several major companies. Top key players operating in the United States are focusing on geographical expansion strategies to penetrate the market in Europe and thereby boosting regional growth.

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

What is our Medical Marijuana Market report scope?

Key Takeaways from this Medical Marijuana Report

• Evaluate Medical Marijuana market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.


• Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Market share held by each application segment with respect to the market renumeration and sales estimates over the forecast timeline are stated in the report.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the Medical Marijuana market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.


• It further investigates the specifics that are positively impacting the profit graph of this business sphere.


• The study also elaborates the critical factors which will augment the commercial terrain of the Medical Marijuana market.

All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.

Frequently Asked Questions

What is the study period of this market?

The Medical Marijuana Market is studied from 2017 - 2027.

What is the growth rate of Medical Marijuana Market?

The Medical Marijuana Market is growing at a CAGR of 20.9% over the next 5 years.

Who are the leading key players in Medical Marijuana Market?

CanniMed Therapeutics, Scotts Miracle-Gro, Canopy Growth Corporation, Aurora Cannabis, Aphria Inc., CannTrust Holdings, GW Pharmaceuticals, MedReleaf Corp, ABcann Medicinals, Inc., Emerald Health Therapeutics, Green Relief Inc., The Cronos Group, Medical Marijuana, Inc., Others

What regions regions does this Medical Marijuana Market report covers?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

What are the significant types of Medical Marijuana Market?

Dried Flower, Oils + Concentrates, Softgel Capsules

What are the significant Applications of Medical Marijuana Market?

Muscle Spasms, Nausea (from cancer chemotherapy), Chronic Illness (HIV/Nerve Pain), Seizure Disorders, Crohn's Disease