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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 (2017-2027); 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 7.8 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 12.3% between 2021 and 2026.
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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.
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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.
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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.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2020 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Species, Derivative, Route of Administration, Application, End Use, Region |
| Breakup by Species | Indica, Sativa, Hybrid |
| Breakup by Derivative | Cannabidiol (CBD), Tetrahydrocannabinol (THC) |
| Breakup by Route of Administration | Oral Solutions and Capsules, Smoking, Vaporizers, Topicals, Others |
| Breakup by Application | Cancer, Arthritis, Migraine, Epilepsy, Others |
| Breakup by End Use | Pharmaceutical Industry, Research and Development Centre, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Tilray, Bedrocan International, Canopy Growth Corporation, Aurora Cannabis Inc., Vivo Cannabis Inc., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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 (2017-2021)
9.3 Global Medical Cannabis Market Forecast (2022-2027)
9.4 Global Medical Cannabis Market by Species
9.4.1 Indica
9.4.1.1 Market Share
9.4.1.2 Historical Trend (2017-2021)
9.4.1.3 Forecast Trend (2022-2027)
9.4.2 Sativa
9.4.2.1 Market Share
9.4.2.2 Historical Trend (2017-2021)
9.4.2.3 Forecast Trend (2022-2027)
9.4.3 Hybrid
9.4.3.1 Market Share
9.4.3.2 Historical Trend (2017-2021)
9.4.3.3 Forecast Trend (2022-2027)
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 (2017-2021)
9.5.1.3 Forecast Trend (2022-2027)
9.5.2 Tetrahydrocannabinol (THC)
9.5.2.1 Market Share
9.5.2.2 Historical Trend (2017-2021)
9.5.2.3 Forecast Trend (2022-2027)
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 (2017-2021)
9.6.1.3 Forecast Trend (2022-2027)
9.6.2 Smoking
9.6.2.1 Market Share
9.6.2.2 Historical Trend (2017-2021)
9.6.2.3 Forecast Trend (2022-2027)
9.6.3 Vaporizers
9.6.3.1 Market Share
9.6.3.2 Historical Trend (2017-2021)
9.6.3.3 Forecast Trend (2022-2027)
9.6.4 Topicals
9.6.4.1 Market Share
9.6.4.2 Historical Trend (2017-2021)
9.6.4.3 Forecast Trend (2022-2027)
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 (2017-2021)
9.7.1.3 Forecast Trend (2022-2027)
9.7.2 Arthritis
9.7.2.1 Market Share
9.7.2.2 Historical Trend (2017-2021)
9.7.2.3 Forecast Trend (2022-2027)
9.7.3 Migraine
9.7.3.1 Market Share
9.7.3.2 Historical Trend (2017-2021)
9.7.3.3 Forecast Trend (2022-2027)
9.7.4 Epilepsy
9.7.4.1 Market Share
9.7.4.2 Historical Trend (2017-2021)
9.7.4.3 Forecast Trend (2022-2027)
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 (2017-2021)
9.8.1.3 Forecast Trend (2022-2027)
9.8.2 Research and Development Centre
9.8.2.1 Market Share
9.8.2.2 Historical Trend (2017-2021)
9.8.2.3 Forecast Trend (2022-2027)
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), 2017-2021
3 Global Medical Cannabis Market Forecast: Breakup by Species (USD Billion), 2022-2027
4 Global Medical Cannabis Historical Market: Breakup by Derivative (USD Billion), 2017-2021
5 Global Medical Cannabis Market Forecast: Breakup by Derivative (USD Billion), 2022-2027
6 Global Medical Cannabis Historical Market: Breakup by Route of Administration (USD Billion), 2017-2021
7 Global Medical Cannabis Market Forecast: Breakup by Route of Administration (USD Billion), 2022-2027
8 Global Medical Cannabis Historical Market: Breakup by Application (USD Billion), 2017-2021
9 Global Medical Cannabis Market Forecast: Breakup by Application (USD Billion), 2022-2027
10 Global Medical Cannabis Historical Market: Breakup by End Use (USD Billion), 2017-2021
11 Global Medical Cannabis Market Forecast: Breakup by End Use (USD Billion), 2022-2027
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 7.8 billion in 2020.
The global medical cannabis market is projected to grow at a CAGR of nearly 12.3% in the forecast period of 2022-2027.
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 7.8 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 12.3% 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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