MEDICAL MARIJUANA MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Medical Marijuana Market, By Product Type (Oil, Capsules, Tinctures, and Others), By Application (Chronic pain, Mental Disorders, Cancer, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Nov 2024
Code : CMI7477
Pages :140
Formats :
Excel and PDF
Industry : Pharmaceutical

Key Takeaways from Analyst

The global medical marijuana industry has tremendous growth potential over the next decade driven by increasing legalization of medical cannabis across regions. More countries are realizing the medicinal benefits of marijuana in treating conditions such as chronic pain, epilepsy, and cancer. This will significantly expand the patient pool requiring cannabis medicines.

While increasing legal acceptance is opening up new avenues, strict regulations pertaining to manufacturing and distribution pose challenges to companies seeking smooth operations across borders.

North America currently dominates the global medical marijuana space, owing to legal dispensing in major markets like the U.S. and Canada. The U.S. stands as the largest national market. The Asia Pacific region offers promising growth prospects with initiatives like the legalization of medical cannabis in more countries of Oceania. Latin America too presents substantial expansion prospects for industry players.