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Global Medical Cannabis Market: By Species: Indica, Sativa, Hybrid; By Derivative: Cannabidiol (CBD), Tetrahydrocannabinol (THC); By Application: Cancer, Arthritis, Others; By End Use; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Medical Cannabis Market Outlook

The global medical cannabis market attained a value of more than USD 16 billion in 2020. The global medical cannabis market is projected to witness a robust growth in the coming years, growing at a CAGR of around 23.10% between 2021 and 2026.

 

Medical Cannabis Market

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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 2020, 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 2020 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.

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.

 

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.

 

Medical Cannabis Market by Application

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Based on species, the global medical cannabis market can be segmented as follows:

  • Indica
  • Sativa
  • Hybrid

The derivatives can be categorised as following:

  • Cannabidiol (CBD)
  • Tetrahydrocannabinol (THC)

On the basis of administration, the industry can be divided into the following:

  • Oral Solutions and Capsules
  • Smoking
  • Vaporizers
  • Topicals
  • Others

It finds applications in the treatment of the following diseases:

  • Cancer
  • Arthritis
  • Migraine
  • Epilepsy
  • Others

It finds end-use in the following industries:

  • Pharmaceutical Industry
  • Research and Development Centre
  • Others

The major regions in the global medical cannabis market are North America, Europe, Latin America, and the Rest of the World.

 

Medical Cannabis Market by Region

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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 gives a detailed analysis of the following key players in the global medical cannabis market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Tilray
  • Bedrocan International
  • Canopy Growth Corporation
  • Aurora Cannabis Inc.
  • Vivo Cannabis Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Market Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    COVID-19 Impact and Assessment
9    Global Medical Cannabis Market Analysis

    9.1    Key Industry Highlights
    9.2    Global Medical Cannabis Historical Market (2016-2020) 
    9.3    Global Medical Cannabis Market Forecast (2021-2026)
    9.4    Global Medical Cannabis Market by Species
        9.4.1    Indica
            9.4.1.1    Market Share
            9.4.1.2    Historical Trend (2016-2020)
            9.4.1.3    Forecast Trend (2021-2026)
        9.4.2    Sativa
            9.4.2.1    Market Share
            9.4.2.2    Historical Trend (2016-2020)
            9.4.2.3    Forecast Trend (2021-2026)
        9.4.3    Hybrid
            9.4.3.1    Market Share
            9.4.3.2    Historical Trend (2016-2020)
            9.4.3.3    Forecast Trend (2021-2026)
    9.5    Global Medical Cannabis Market by Derivative
        9.5.1    Cannabidiol (CBD)
            9.5.1.1    Market Share
            9.5.1.2    Historical Trend (2016-2020)
            9.5.1.3    Forecast Trend (2021-2026)
        9.5.2    Tetrahydrocannabinol (THC)
            9.5.2.1    Market Share
            9.5.2.2    Historical Trend (2016-2020)
            9.5.2.3    Forecast Trend (2021-2026)
    9.6    Global Medical Cannabis Market by Route of Administration
        9.6.1    Oral Solutions and Capsules
            9.6.1.1    Market Share
            9.6.1.2    Historical Trend (2016-2020)
            9.6.1.3    Forecast Trend (2021-2026)
        9.6.2    Smoking
            9.6.2.1    Market Share
            9.6.2.2    Historical Trend (2016-2020)
            9.6.2.3    Forecast Trend (2021-2026)
        9.6.3    Vaporizers
            9.6.3.1    Market Share
            9.6.3.2    Historical Trend (2016-2020)
            9.6.3.3    Forecast Trend (2021-2026)
        9.6.4    Topicals
            9.6.4.1    Market Share
            9.6.4.2    Historical Trend (2016-2020)
            9.6.4.3    Forecast Trend (2021-2026)
        9.6.5    Others
    9.7    Global Medical Cannabis Market by Application
        9.7.1    Cancer
            9.7.1.1    Market Share
            9.7.1.2    Historical Trend (2016-2020)
            9.7.1.3    Forecast Trend (2021-2026)
        9.7.2    Arthritis
            9.7.2.1    Market Share
            9.7.2.2    Historical Trend (2016-2020)
            9.7.2.3    Forecast Trend (2021-2026)
        9.7.3    Migraine
            9.7.3.1    Market Share
            9.7.3.2    Historical Trend (2016-2020)
            9.7.3.3    Forecast Trend (2021-2026)
        9.7.4    Epilepsy
            9.7.4.1    Market Share
            9.7.4.2    Historical Trend (2016-2020)
            9.7.4.3    Forecast Trend (2021-2026)
        9.7.5    Others
    9.8    Global Medical Cannabis Market by End Use
        9.8.1    Pharmaceutical Industry
            9.8.1.1    Market Share
            9.8.1.2    Historical Trend (2016-2020)
            9.8.1.3    Forecast Trend (2021-2026)
        9.8.2    Research and Development Centre
            9.8.2.1    Market Share
            9.8.2.2    Historical Trend (2016-2020)
            9.8.2.3    Forecast Trend (2021-2026)
        9.8.3    Others
    9.9    Global Medical Cannabis Market by Region
        9.9.1    Market Share
            9.9.1.1    North America
            9.9.1.2    Europe
            9.9.1.3    Latin America
            9.9.1.4    Rest of the World
10    Regional Analysis
    10.1    North America
        10.1.1    Market Trend (2020-2026)
        10.1.2    Breakup by Country
            10.1.2.1    United States of America 
            10.1.2.2    Canada
    10.2    Europe
        10.2.1    Market Trend (2020-2026)
        10.2.2    Breakup by Country
            10.2.2.1    Germany
            10.2.2.2    United Kingdom
            10.2.2.3    Netherlands
            10.2.2.4    Italy
            10.2.2.5    Others
    10.3    Latin America
        10.3.1    Market Trend (2020-2026)
        10.3.2    Breakup by Country
            10.3.2.1    Mexico
            10.3.2.2    Uruguay
            10.3.2.3    Brazil
            10.3.2.4    Others
    10.4    Rest of the World
        10.4.1    Market Trend (2020-2026)
        10.4.2    Breakup by Country
            10.4.2.1    Israel
            10.4.2.2    Australia
            10.4.2.3    New Zealand
            10.4.2.4    Turkey
            10.4.2.5    Others
11    Market Dynamics
    11.1    SWOT Analysis
        11.1.1    Strengths
        11.1.2    Weaknesses
        11.1.3    Opportunities
        11.1.4    Threats
    11.2    Porter’s Five Forces Analysis
        11.2.1    Supplier’s Power
        11.2.2    Buyers Power
        11.2.3    Threat of New Entrants
        11.2.4    Degree of Rivalry
        11.2.5    Threat of Substitutes
    11.3    EMR’s Key Indicators for Demand
    11.4    EMR’s Key Indicators for Price
12    Value Chain Analysis
13    Competitive Landscape

    13.1    Market Structure
    13.2    Key Players Market Share
    13.3    Company Profiles
        13.3.1    Tilray
            13.3.1.1    Company Overview
            13.3.1.2    Product Portfolio
            13.3.1.3    Demographic Reach and Achievements
            13.3.1.4    Financial Summary
            13.3.1.5    Certifications
        13.3.2    Bedrocan International
            13.3.2.1    Company Overview
            13.3.2.2    Product Portfolio
            13.3.2.3    Demographic Reach and Achievements
            13.3.2.4    Financial Summary
            13.3.2.5    Certifications
        13.3.3    Canopy Growth Corporation
            13.3.3.1    Company Overview
            13.3.3.2    Product Portfolio
            13.3.3.3    Demographic Reach and Achievements
            13.3.3.4    Financial Summary
            13.3.3.5    Certifications
        13.3.4    Aurora Cannabis Inc.
            13.3.4.1    Company Overview
            13.3.4.2    Product Portfolio
            13.3.4.3    Demographic Reach and Achievements
            13.3.4.4    Financial Summary
            13.3.4.5    Certifications
        13.3.5    Vivo Cannabis Inc.
            13.3.5.1    Company Overview
            13.3.5.2    Product Portfolio
            13.3.5.3    Demographic Reach and Achievements
            13.3.5.4    Financial Summary
            13.3.5.5    Certifications
        13.3.6    Others
14    Industry Events and Developments

 

List of Figures and Tables
1    Global Medical Cannabis Market: Key Industry Highlights, 2016 and 2026
2    Global Medical Cannabis Historical Market: Breakup by Species (USD Billion), 2016-2020
3    Global Medical Cannabis Market Forecast: Breakup by Species (USD Billion), 2021-2026
4    Global Medical Cannabis Historical Market: Breakup by Derivative (USD Billion), 2016-2020
5    Global Medical Cannabis Market Forecast: Breakup by Derivative (USD Billion), 2021-2026
6    Global Medical Cannabis Historical Market: Breakup by Route of Administration (USD Billion), 2016-2020
7    Global Medical Cannabis Market Forecast: Breakup by Route of Administration (USD Billion), 2021-2026
8    Global Medical Cannabis Historical Market: Breakup by Application (USD Billion), 2016-2020
9    Global Medical Cannabis Market Forecast: Breakup by Application (USD Billion), 2021-2026
10    Global Medical Cannabis Historical Market: Breakup by End Use (USD Billion), 2016-2020
11    Global Medical Cannabis Market Forecast: Breakup by End Use (USD Billion), 2021-2026
12    Global Medical Cannabis Market: Breakup by Region (USD Billion), 2020-2026
13    North America Medical Cannabis Market: Breakup by Country (USD Billion), 2020-2026
14    Europe Medical Cannabis Market: Breakup by Country (USD Billion), 2020-2026
15    Latin America Medical Cannabis Market: Breakup by Country (USD Billion), 2020-2026
16    Rest of the World Medical Cannabis Market: Breakup by Country (USD Billion), 2020-2026
17    Global Medical Cannabis Market Structure

Key Questions Answered in the Report

The global medical cannabis market reached a value of more than USD 16 billion in 2020.

The global medical cannabis market is projected to grow at a CAGR of nearly 23.10% in the forecast period of 2021-2026.

The major drivers of the industry such as rising disposable incomes, increasing population, legalisation drives for the drug for both, medical and recreational purposes, rising number of R & D undertakings, clinical trials, and increased commercialisation of the product.

In January 2020, 33 states in the United States along with Washington, DC had legalised marijuana use for medical purposes, which is expected to be a key trend guiding the growth of the industry.

North America, Europe, and Latin America are the major regions in the global medical cannabis market, with North America accounting for the largest market share.

The major derivatives in the market include cannabidiol (CBD) and tetrahydrocannabinol (THC).

The leading species in the industry are Indica, sativa, and hybrid.

The most significant end-use sectors of the product are pharmaceutical industry and research and development centre, among others.

The leading players in the global medical cannabis market are Tilray, Bedrocan International, Canopy Growth Corporation, Aurora Cannabis Inc., and Vivo Cannabis Inc., among others.

Analyst Review

The global medical cannabis market attained a value of more than USD 16 billion in 2020, driven by the rising number of R & D undertakings, clinical trials, and increased commercialisation of the product. Aided by the rising consumer awareness and the increasing disposable income, the market is projected to witness a robust growth in the coming years, growing at a CAGR of around 23.10% between 2021 and 2026.

EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on its derivatives, the global medical cannabis market can be segmented into cannabidiol (CBD) and tetrahydrocannabinol (THC). By species, the industry can be divided into Indica, sativa, and hybrid. On the basis of application, the industry is divided into cancer, arthritis, migraine, and epilepsy, among others. The major regional markets for medical cannabis are North America, Europe, Latin America, and Rest of the World, with North America accounting for the largest share of the market. The key players in the global medical cannabis market include Tilray, Bedrocan International, Canopy Growth Corporation, Aurora Cannabis Inc., and Vivo Cannabis Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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