Global Medical Cannabis Market: By Product: Dried and Extract Form; By Species: Indica, Sativa and Hybrid; By Compound: THC-Dominant, CBD-Dominant, Balanced THC & CBD; By Application: Pain Management, Seizure and Others; By Region: North America, Europe, Asia Pacific, LATAM, Middle East & Africa; SWOT Analysis; Historical Production and Consumption (2014-2018); Production and Consumption Forecast (2019-2024); Competitive Landscape


Global Medical Cannabis Market Key Insights:

  • Market Overview
  • Price Trends
  • Market Analysis & Outlook 2019-2024
  • Trade Data Analysis
  • Breakup by Application and Region
  • Market Opportunities
  • Competitive Landscape
  • Capacity Addition and Plant Turnarounds
  • News and Developments

 

Market Outlook

North America is the leading cannabis market. The regional market is being aided by the legalisation drives for the drug for both, medical and recreational purposes. Almost 1.9 million people in North America were legally using the substance in 2017 to manage and relieve conditions like polymorphic seizures and chronic pain. With over 60% of the population in the region residing in areas with legalised medical cannabis, the industry is expected to witness a healthy growth in the forecast period. In 2018, the total cannabis sales in the US was estimated to be around USD 7.6 billion. As of January 2019, 33 states in the US along with Washington, DC had legalised marijuana use for medical purposes, which will aid the industry growth in the coming years. In Canada, the overall industry, including medical and legal along with illegal products, is expected to generate a sales revenue of nearly USD 1.7 billion in 2019 and the contribution of medical sales is anticipated to account for about one-fourth of the total industry sales in Canada. The industry is being driven by increased legalisation and the willingness of consumers to spend more on legal products.

The global medical cannabis market attained a value of more than USD 13 billion in 2018. The market is projected to witness a robust growth in the coming years, growing at a CAGR of around 23%.

In 2018, medical cannabis retail sales reached around USD 3.7 billion in the US. Europe is another leading market which is expected to grow annually by € 35.7 billion. With people spending nearly € 1.49 trillion on healthcare in 2017 on the continent, the industry has a high potential for growth in the region. The medical marijuana industry is a key expansion sector for pharmaceutical companies in Europe. Germany represents the leading market for medical cannabis in the region and was worth USD 11.9 billion in 2017. The Western European country imports most of its supply from Canada, and is looking to expand its domestic supply to meet the rising local demand.

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Properties and Applications

Cannabis, also known as marijuana, is a psychotropic drug which is derived from the cannabis plant. It is consumed within food or as an extract or by smoking or vaporising. Historically, the substance has been used medicinally by the Indian, Egyptian, Chinese and Islamic cultures. Currently, it is finding extensive use in treating or relieving symptoms related to chronic pain, arthritis, epilepsy, Parkinson’s, Tourette’s, AIDS, and cancer, among others. Its application can be broadly divided into:

  • Pain Management
  • Seizure
  • Others

Cannabis is found in dried and extract forms, and can be derived from the Indica or Sativa species. It can also be derived from a hybrid species containing traces of both, Indica and Sativa. Currently, Indica has the largest market share and is used to treat headaches, migraines, and other body pains. Based on the dominant compound the substance can be divided into:

  • THC-Dominant
  • CBD-Dominant
  • Balanced THC & CBD

CBD finds extensive application in the medical sector due to being non-psychoactive. THC, on the other hand, is used to alleviate the side-effects from the treatments of cancer and AIDS. Cannabis for medicinal use is distributed through dispensaries, pharmacies, and online retailers. The major regional markets for medical cannabis are North America, Europe, LATAM, Asia Pacific, and Middle East and Africa.

Market Analysis

The global medical cannabis market is being aided by the rising legalisation of marijuana for medical usage as well as a growing acceptance of the substance by the potential consumers. The rising number of R & D undertakings, clinical trials, and increased commercialisation of the product will also drive the industry growth. Israel is a significant market in terms of the research and development investments into medical marijuana. The country has led multiple pioneering studies in the field including the effect of medicinal cannabis on autistic people. With regulatory authorities in the US like the National Institute on Drug Abuse and the Drug Enforcement Agency hindering the expansion of research on the subject, several US companies are conducting research in Israel and investing in the Israeli cannabis industry. In Canada, the industry for medicinal marijuana is being driven by the willingness of Canadian insurance companies to reimburse the utilisation of cannabis to treat conditions like cancer-related pain and nausea, spasticity caused by multiple sclerosis, rheumatoid arthritis pain, HIV/AIDS, and other palliative care.

Globally, the industry is also finding impetus for its growth in the rising population of geriatrics who are more vulnerable to chronic illnesses and are likely to suffer from pain related to conditions like rheumatoid arthritis. The increasing disposable income is also likely to drive the industry. The growing consumer awareness about the product is also proving to be a catalyst for the market. The industry is further aided by consumer satisfaction with cancer patients who have used medicinal cannabis testifying to the product’s contribution to the improvement of their quality of life by relieving pain and the side-effects of chemotherapy like nausea. Medical cannabis is also viewed as a safer option over opioid-based prescription medications.

Competitive Landscape

The report analyses the following key players in the global medical cannabis market, looking into their market share, capacity, and latest developments like mergers and acquisitions, capacity expansions, and plant turnarounds:

  • Tilray
  • Bedrocan International
  • Canopy Growth Corporation
  • Aurora Cannabis Inc.
  • Aphria Inc. 
  • Terra Tech Corp. 
  • Vivo Cannabis Inc.
  • Emerald Health Therapeutics, Inc
  • Cronos Group Inc.
  • Organigram Holdings Inc
  • Others

The EMR report gives an in-depth insight into the market, providing a SWOT analysis as well as an analysis of Porter’s Five Forces.

1    Preface
2    Research Methodology
3    Executive Summary

    3.1    Market Overview
    3.2    Key Demand Drivers
    3.3    Key Players
    3.4    Supply Market Changes
4    Global Medical Cannabis Market Overview
    4.1    Global Medical Cannabis Market Analysis

        4.1.1    Figure: Global Medical Cannabis Historical Market (2014-2018) & Forecast (2019-2024)
        4.1.2    Figure: Global Medical Cannabis Market Breakup by Product Type: Historical Market (2014-2018) & Forecast (2019-2024)
            4.1.2.1    Dried Form
            4.1.2.2    Extract Form
        4.1.3    Figure: Global Medical Cannabis Market Breakup by Species: Historical Market (2014-2018) & Forecast (2019-2024)
            4.1.3.1    Indica
            4.1.3.2    Sativa
            4.1.3.3    Hybrid
        4.1.4    Figure: Global Medical Cannabis Market Breakup by Compound: Historical Market (2014-2018) & Forecast (2019-2024)
            4.1.4.1    THC-Dominant
            4.1.4.2    CBD-Dominant
            4.1.4.3    Balanced THC & CBD
        4.1.5    Figure: Global Medical Cannabis Market Breakup by Application: Historical Market (2014-2018) & Forecast (2019-2024)
            4.1.5.1    Pain Management
            4.1.5.2    Seizure
            4.1.5.3    Others
        4.1.6    Figure: Global Medical Cannabis Market Breakup by Distribution Channel: Historical Market (2014-2018) & Forecast (2019-2024)
            4.1.6.1    Dispensaries
            4.1.6.2    Pharmacies
            4.1.6.3    Online Retailers
        4.1.7    Chart: Global Medical Cannabis Market Breakup by Region
            4.1.7.1    North America
            4.1.7.2    Europe
            4.1.7.3    Asia Pacific
            4.1.7.4    LATAM
            4.1.7.5    Middle East & Africa
        4.1.8    Figure: Regional Medical Cannabis Historical Market (2014-2018) & Forecast (2019-2024)
            4.1.8.1    North America
            4.1.8.2    Europe
            4.1.8.3    Asia Pacific
            4.1.8.4    LATAM
            4.1.8.5    Middle East & Africa
    4.2    SWOT Analysis
        4.2.1    Overview
        4.2.2    Strengths
        4.2.3    Weaknesses 
        4.2.4    Opportunities
        4.2.5    Threats
    4.3    Value Chain Analysis
    4.4    Porter’s Five Forces Analysis

        4.4.1    Overview
        4.4.2    Buyer’s Power
        4.4.3    Supplier’s Power
        4.4.4    New Entrants
        4.4.5    Degree of Rivalry
        4.4.6    Substitutes
    4.5    Global (HS Code-5302 Sativa L) Trade Analysis (2018)
        4.5.1    Major Exporting Countries by Value & Volume
        4.5.2    Major Importing Countries by Value & Volume
    4.6    Global Medical Cannabis Price Analysis
        4.6.1    North America Medical Cannabis Historical Price Trends (2014-2018) & Forecast (2019- 2024)
        4.6.2    Europe Medical Cannabis Historical Price Trends (2014-2018) & Forecast (2019-2024)
        4.6.3    Asia Pacific Medical Cannabis Historical Price Trends (2014-2018) & Forecast (2019-2024)
        4.6.4    LATAM Medical Cannabis Historical Price Trends (2014-2018) & Forecast (2019-2024)
        4.6.5    Middle East & Africa Country Medical Cannabis Historical Price Trends (2014-2018) & Forecast (2019-2024)
5    Competitive Landscape & Supplier Analysis
    5.1    Tilray
    5.2    Bedrocan International
    5.3    Canopy Growth Corporation
    5.4    Aurora Cannabis Inc.
    5.5    Aphria Inc. 
    5.6    Terra Tech Corp. 
    5.7    Vivo Cannabis Inc.
    5.8    Emerald Health Therapeutics, Inc
    5.9    Cronos Group Inc.
    5.10    Organigram Holdings Inc
    5.11    Others
6    Events and Developments

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