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Mexico Medical Cannabis Market

Mexico Medical Cannabis Market Analysis, Growth, Forecast: By Product: Buds, Oils, Tinctures; By Application: Chronic Pain, Mental Disorders, Cancer, Others; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032

Mexico Medical Cannabis Market Outlook

The Mexico medical cannabis market size was estimated at nearly USD 273.77 million in 2023 and expected to grow at a CAGR of 46.7% over the forecast period of 2024-2032 to reach USD 8,590.25 million by 2032.

 

Mexico Medical Cannabis Market

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The growing acceptance of medical cannabis to treat chronic circumstances like cancer, neurological diseases, and chronic pain is the main factor driving for the industry for medical cannabis in Mexico.

 

Market Segmentation

Cannabis or marijuana is a psychoactive drug, which is derived from the cannabis plant, which is further used for medical purposes. The Mexico medical cannabis market can be divided based on segments like products and applications.

 

Mexico Medical Cannabis Market

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The industry can be divided based on its products as buds, oils, and tinctures.

The industry can be broadly categorised based on its application into:

  • Chronic Pain
  • Mental Disorders
  • Cancer
  • Others

 

Market Analysis

Due to the significant population and patient pool, medical cannabis is anticipated to emerge as one of the most profitable enterprises to enter Mexico in the coming years. Different research studies have demonstrated the potential benefits of cannabis in cancer treatment, thus increasing its demand for cancer therapy. The growing burden of disease and the increasing cannabis use for medical purposes are anticipated to drive the demand for the product over the forecast period. The oil segment is anticipated to emerge as the fastest growing segment by 2026.

 

Mexico Medical Cannabis Market

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Competitive Landscape

The report presents a detailed analysis of the following key players in the Mexico medical cannabis market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Sartorius de México S.A. de C.V. (Sartorius AG)
  • Aurora Cannabis  
  • GW Pharmaceuticals, plc.  
  • Canopy Growth Corporation.      
  • HempMeds     
  • CV Sciences, Inc.       
  • ENDOCA 
  • Isodiol International, Inc. 
  • CBD Life
  • PharmaCielo      
  • Others

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

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2017-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Application
Breakup by Product
  • Buds
  • Oils
  • Tinctures
Breakup by Application
  • Chronic Pain
  • Mental Disorders
  • Cancer
  • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Sartorius de México S.A. de C.V. (Sartorius AG)
  • Aurora Cannabis Inc.
  • GW Pharmaceuticals plc
  • Canopy Growth Corporation.
  • HempMeds
  • CV Sciences, Inc.
  • Endoca B.V.
  • Isodiol International, Inc.
  • CBD Life
  • PharmaCielo
  • 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.

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

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    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Mexico
7    Opportunities and Challenges in the Market
8    Mexico Medical Cannabis Market Analysis

    8.1    Key Industry Highlights
    8.2    Mexico Medical Cannabis Historical Market (2018-2023) 
    8.3    Mexico Medical Cannabis Market Forecast (2024-2032)
    8.4    Mexico Medical Cannabis Market by Product
        8.4.1    Buds
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Oils
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Tinctures
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Mexico Medical Cannabis Market by Application
        8.5.1    Chronic Pain
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Mental Disorders
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Cancer
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Others
9    Market Dynamics
    9.1    SWOT Analysis
        9.1.1    Strengths
        9.1.2    Weaknesses
        9.1.3    Opportunities
        9.1.4    Threats
    9.2    Porter’s Five Forces Analysis
        9.2.1    Supplier’s Power
        9.2.2    Buyer’s Power
        9.2.3    Threat of New Entrants
        9.2.4    Degree of Rivalry
        9.2.5    Threat of Substitutes
    9.3    Key Indicators for Demand
    9.4    Key Indicators for Price
10    Competitive Landscape
    10.1    Market Structure
    10.2    Company Profiles
        10.2.1    Sartorius de México S.A. de C.V. (Sartorius AG)
            10.2.1.1    Company Overview
            10.2.1.2    Product Portfolio
            10.2.1.3    Demographic Reach and Achievements
            10.2.1.4    Certifications
        10.2.2    Aurora Cannabis Inc.
            10.2.2.1    Company Overview
            10.2.2.2    Product Portfolio
            10.2.2.3    Demographic Reach and Achievements
            10.2.2.4    Certifications
        10.2.3    GW Pharmaceuticals plc
            10.2.3.1    Company Overview
            10.2.3.2    Product Portfolio
            10.2.3.3    Demographic Reach and Achievements
            10.2.3.4    Certifications
        10.2.4    Canopy Growth Corporation.
            10.2.4.1    Company Overview
            10.2.4.2    Product Portfolio
            10.2.4.3    Demographic Reach and Achievements
            10.2.4.4    Certifications
        10.2.5    HempMeds
            10.2.5.1    Company Overview
            10.2.5.2    Product Portfolio
            10.2.5.3    Demographic Reach and Achievements
            10.2.5.4    Certifications
        10.2.6    CV Sciences, Inc.
            10.2.6.1    Company Overview
            10.2.6.2    Product Portfolio
            10.2.6.3    Demographic Reach and Achievements
            10.2.6.4    Certifications
        10.2.7    Endoca B.V.
            10.2.7.1    Company Overview
            10.2.7.2    Product Portfolio
            10.2.7.3    Demographic Reach and Achievements
            10.2.7.4    Certifications
        10.2.8    Isodiol International, Inc.
            10.2.8.1    Company Overview
            10.2.8.2    Product Portfolio
            10.2.8.3    Demographic Reach and Achievements
            10.2.8.4    Certifications
        10.2.9    CBD Life
            10.2.9.1    Company Overview
            10.2.9.2    Product Portfolio
            10.2.9.3    Demographic Reach and Achievements
            10.2.9.4    Certifications
        10.2.10    PharmaCielo
            10.2.10.1    Company Overview
            10.2.10.2    Product Portfolio
            10.2.10.3    Demographic Reach and Achievements
            10.2.10.4    Certifications
        10.2.11    Others
11    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Mexico Medical Cannabis Market: Key Industry Highlights, 2018 and 2032
2.    Mexico Medical Cannabis Historical Market: Breakup by Product (USD Million), 2018-2023
3.    Mexico Medical Cannabis Market Forecast: Breakup by Product (USD Million), 2024-2032
4.    Mexico Medical Cannabis Historical Market: Breakup by Application (USD Million), 2018-2023
5.    Mexico Medical Cannabis Market Forecast: Breakup by Application (USD Million), 2024-2032
6.    Mexico Medical Cannabis Market Structure

Key Questions Answered in the Report

The Mexico medical cannabis market reached a value of USD 273.77 million in 2023.

The market is expected to grow at a CAGR of about 46.7% in the forecast period of 2024-2032.

The market is expected to expand in the forecast period to reach USD 8,590.25 million by 2032.       

The major drivers of the market include the rising disposable incomes and the growing acceptance of medical cannabis to treat chronic circumstances like cancer, neurological diseases, and chronic pain.

The rising awareness regarding the benefits of cannabis for medical purposes and the increasing burden of diseases in the country are key trends guiding the market.

The major product segments in the market are buds, oils, and tinctures.

The significant applications of medical cannabis in the market include chronic pain, mental disorders, and cancer, among others.

The major players in the market are Sartorius de México S.A. de C.V. (Sartorius AG), Aurora Cannabis Inc., GW Pharmaceuticals, plc, Canopy Growth Corporation, HempMeds, CV Sciences, Inc., Endoca B.V., Isodiol International, Inc., CBD Life, and PharmaCielo, among others.

Analyst Review

The Mexico medical cannabis market attained a value of USD 273.77 million in 2023, driven by the growing acceptance of medical cannabis to treat chronic circumstances like cancer, neurological diseases, and chronic pain. It is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 46.7% to reach a value of almost USD 8,590.25 million by 2032. The industry is projected to be driven by the emerging oils segment in the forecast period of 2024-2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of product, the market is divided into buds, oils, and tinctures. On the basis of application, the industry is divided into chronic pain, mental disorders, and cancer, among others. The key players in the above industry include Sartorius de México S.A. de C.V. (Sartorius AG), Aurora Cannabis, GW Pharmaceuticals, plc., Canopy Growth Corporation., HempMeds, CV Sciences, Inc., ENDOCA, Isodiol International, Inc., CBD Life, PharmaCielo, and 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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