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North America is a major contributor to the market growth of legal marijuana globally. Supported by favourable government policies, the United States has emerged as the largest market for legal marijuana across the globe. Medical marijuana is being preferred over opioid painkillers as a result of the large pool of patients with chronic pain and the growing geriatric population within the region.
The market growth of legal marijuana is expected to grow owing to the growing R&D activities related to cannabis across the globe over the forecast period. In 2019, Santé Cannabis, a pioneer in medical cannabis, announced a partnership with Spectrum Therapeutics, the medical division of Canopy Growth (NYSE: CGC), to launch the Prescriber Training Program, aimed to aid patients and physicians. This is predicted to positively influence the market growth of legal marijuana. Later, in 2020, Aphria Inc. (NASDAQ: APHA), a leading global cannabis company, announced its entry into a Strategic Supply Agreement with Canndoc Ltd., a subsidiary of InterCure Ltd. (TASE: INCR), one of the largest and most established medical cannabis producers in Israel. This is predicted to aid the market expansion of legal marijuana across the globe.
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The major players in the global legal marijuana market are Canopy Growth Corp., Aphria, Inc, Aurora Cannabis, Maricann Group, Inc., GW Pharmaceuticals, plc., and VIVO Cannabis Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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