The global Medical Marijuana Treatment market size is expected to reach USD 24.52 Billion in 2028 and register a revenue CAGR of 11.5% over the forecast period, according to the latest report by Reports and Data. Inclining number of countries legalizing Medical Marijuana Treatment, increasing investments in research activities and commercialization of various Medical Marijuana Treatment-based products and rising awareness regarding benefits of using marijuana are factors driving market revenue growth.
Marijuana is known to aid in treating chronic pain, and increasing number of people suffering from pain caused due to various reasons is creating robust product demand for pain management in chronic medical conditions. Additionally, various countries across the globe have legalized Medical Marijuana Treatment, which enables people to use it for health purposes, thus boosting revenue growth of the global Medical Marijuana Treatment market. Statistically, most of the cannabis is sold through illicit channels. However, several countries are researching and recognizing Medical Marijuana Treatment as ideal option for wide range of uses due to various advantages offered. Certain countries have begun to liberalize laws regarding usage and consumption of Medical Marijuana Treatment, which is driving revenue growth of the global market.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1413
Rising investments in scientific studies and clinical trials to widen scope of product application in various treatments is expected to lead to high demand for Medical Marijuana Treatment during the forecast period. Moreover, easy availability of Medical Marijuana Treatment and related products on eCommerce platforms in certain countries is also expected to drive market revenue growth. However, certain side effects of overusing Medical Marijuana Treatment such as fatigue, dizziness, constipation, insomnia, and speech problems could hamper growth of the global market. Additionally, challenges in entering in to Medical Marijuana Treatment business can hinder market revenue growth to some extent.
Some Key Highlights from the Report:
- In October 2020, MediPharm Labs Corp. signed supply agreement with STADA to meet growing demand for Medical Marijuana Treatment in Germany. STADA wanted to be the go-to partner for generics, which will be achieved by this partnership.
- Oil segment revenue is expected to grow at a rapid rate during the forecast period. Hemp oil is in high demand for clinical purposes in healthcare sector. Health concerns associated with smoking are other factors that stop doctors from prescribing it. Hence, oil or edible forms of marijuana are generally prescribed and are in significant demand.
- Chronic pain segment accounted for larger revenue share in 2020. Medical Marijuana Treatment helps in controlling pain due to various medical issues. It acts as a relaxant and is commonly used among people suffering from Parkinson’s. Doctors also prescribe it to patients suffering from PTSD.
- By route of administration, inhalation segment is expected to register significantly high revenue growth rate during the forecast period. Inhalation provides the advantage of controlled dosage and effective absorption of marijuana into the body.
- Dispensaries segment accounted for significant revenue share in 2020. These pharmacies sell various legal cannabis products in the form of tablets, vaporizers, balms, elixirs, and tinctures. Patients usually prefer to buy medical products from authorized and legal sources to abide by the government’s rules, thus maximizing revenue growth by the segment.
- Market in North America accounted for largest revenue share in 2020. As of 2018, 30 U.S. states have legalized use of Medical Marijuana Treatment. Moreover, growing number of research studies in the U.S. is encouraging and supporting marijuana for medical purposes. Countries in North America are undertaking marketing strategies to promote derivatives such as oils, tinctures, and resins, along with products such as vaporizers.
- Market in Europe is expected to register a significantly high revenue growth rate during the forecast period. Germany is among the largest consumer for marijuana, which is supporting revenue growth of the market in the region.
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, and product service portfolio. The Medical Marijuana Treatment market is extremely competitive and consists of several key players at the regional and global levels. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in RD, partnerships, joint ventures, and collaborations to strengthen their market position and enhance their product portfolio.
Leading companies operating in the market are:
- Canopy Growth Corporation
- Aphria, Inc.
- Aurora Cannabis
- Maricann Group, Inc.
- Tilray, Cronos Group
- Organigram Holdings, Inc.
- Vivo Cannabis
- Tikun Olam
- Insys Therapeutics, Inc.
The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Medical Marijuana Treatment Market Segmentation:
Route of Administration Outlook:
- Chronic Pain
- Mental Disorders
- Muscle Spasm
Distribution Channel Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East Africa)
Some essential purposes of the Medical Marijuana Treatment market research report:
- Vital Developments: Custom investigation provides critical improvements to the Medical Marijuana Treatment market, including RD, new item shipment, coordinated efforts, development rate, partnerships, joint efforts, and local development of rivals working in the market on a global scale and regional.
- Market Characteristics: The report contains Medical Marijuana Treatment market highlights, income, limit, limit utilization rate, value, net, creation rate, generation, utilization, import, trade, supply, demand, cost, part of the industry in general, CAGR, and gross margin. Likewise, the market report offers an exhaustive investigation of the elements and their most recent patterns, along with Service market fragments and subsections.
- Investigative Tools: This market report incorporates the accurately considered and evaluated information of the major established players and their extension into the Medical Marijuana Treatment market by methods. Systematic tools and methodologies, for example, Porter’s Five Powers Investigation, Possibilities Study, and numerous other statistical investigation methods have been used to analyze the development of the key players working in the Medical Marijuana Treatment market.
- Convincingly, the Medical Marijuana Treatment report will give you an unmistakable perspective on every single market reality without the need to allude to some other research report or source of information. This report will provide all of you with the realities about the past, present, and eventual fate of the Medical Marijuana Treatment market.
Request customization of the report @ https://www.reportsanddata.com/request-customization-form/1413
Thank you for reading the report. Kindly note that we also offer customized reports according to the client’s requirements. Contact us to know more about the customization feature and our team will provide you with the best-customized report.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, TouchPoints, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provide our clients with the ability to secure an edge over their respective competitors.
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
LinkedIn | Twitter | Blogs