Medical Cannabis Market Synopsis

Medical Cannabis Market Size Was Valued at USD 13119.89 Million in 2023, and is Projected to Reach USD 91065.89 Million by 2032, Growing at a CAGR of 24.02% From 2024-2032.

Medical cannabis, also called medical marijuana, is using the Cannabis plant or its extracts to alleviate symptoms of different medical conditions. The active components in it are called cannabinoids, with the most famous ones being tetrahydrocannabinol (THC) and cannabidiol (CBD). THC causes a psychoactive effect and is associated with the euphoric feeling from cannabis, whereas CBD does not cause a high and has been connected to different healing properties.

  • Rising support among the general public and healthcare professionals for the advantages of medical cannabis; improved knowledge for physicians and individuals about its various applications. Many countries are increasingly legalizing medical cannabis as a global trend, with regulatory entities backing its medicinal advantages, resulting in improved availability and approval for therapeutic use.
  • The expanding clinical research is backing the safety and effectiveness of medical cannabis, fuelling the development of new products tailored for specific medical purposes. A growing number of elderly people are facing an increase in long-term illnesses such as pain, cancer, and neurological disorders, resulting in a rise in the utilization of medical marijuana for treatment.
  • Patients are seeking holistic treatments like medical cannabis as a safer option for pain management instead of opioids, in efforts to address the opioid crisis. Investments from pharmaceutical, biotech, and venture capital sectors are drawn to the medical cannabis market due to its economic growth. The potential for growth in the medical cannabis market looks promising due to increasing legalization, new product developments, wider range of uses, and the possibility of insurance coverage. This may enhance the availability and efficacy of cannabis-derived therapies for patients.

Medical Cannabis Market - Global Size & Industry Trends

Medical Cannabis Market Trend Analysis

Increased Execution of Cannabis for Recreational Purpose

  • Legalizing cannabis for recreational use has made it more available, resulting in a decrease in stigma and it’s becoming more socially acceptable. This promotes a greater number of patients to consider cannabis as a viable option for medical treatment. Awareness of the therapeutic benefits of cannabis may cause a wider range of consumers to shift from using it recreationally to using it for medical purposes. Investing in recreational markets has a positive impact on the medical cannabis industry by providing more resources for research, goods, and services. Overall growth in the industry helps to develop infrastructure for both recreational and medical markets.
  • The expansion of products like edibles, tinctures, and topicals for medical use is driven by the growth of the recreational market, leading to increased product innovation and diversification. A competitive market increases the level of quality expected, which helps medical patients who rely on dependable, high-quality products for treatment. Having unified regulatory frameworks in states and countries with both recreational and medical cannabis markets can make it easier for businesses to operate. Achieving success in recreational markets can result in policy changes that increase the accessibility and affordability of medical cannabis.
  • Support from recreational markets can enhance funding for cannabis research, resulting in advancements in medical applications and a deeper comprehension of its advantages. Additional clinical trials are being carried out, offering robust evidence to back up medical assertions and enhance dosage recommendations. Public campaigns advocating for the legalization of recreational cannabis frequently feature details regarding proper usage and potential medical advantages. Greater exposure from recreational use leads to increased recognition of the medicinal benefits of cannabis, prompting more individuals to explore its medical applications.

Opportunity

Novel product development with increasing R&D activities

  • Innovations in product formulations provide a variety of cannabis-based products such as oils, edibles, capsules, tinctures, and topicals. Enhancements in delivery methods such as transdermal patches and inhalers offer more accurate dosing and quicker onset of action, ultimately improving effectiveness and patient satisfaction. An increase in research and development results in specific cannabinoid treatments for chronic pain, epilepsy, and mental health disorders.
  • Advancements in genetics and biotechnology make it possible to create personalized medical cannabis treatments based on individual patient profiles and genetic markers. Continuing research and development work produces clinical data that supports the safety and effectiveness of medical cannabis. Having standardized cultivation and extraction methods is essential for obtaining regulatory approvals and increasing legal availability, guaranteeing reliable, top-notch products that healthcare providers and patients can rely on.
  • The identification of fresh medical applications for cannabinoids may result in market growth as it targets additional groups such as those with arthritis and neurodegenerative illnesses. Customized product development assists in penetrating new global markets by fulfilling regulatory standards. Collaborations with pharmaceutical companies expedite the advancement and marketing of products in the cannabis sector. Additional funding from venture capitalists and private equity firms is backing extensive research and development efforts, fueled by the promising prospects of medical cannabis.

Medical Cannabis Market Segment Analysis:

Medical Cannabis Market is segmented on the basis of Product Type, Species, Derivatives, Source, Application, End-User and Region.

By Species, Cannabis Indica Segment Is Expected to Dominate the Market During the Forecast Period

  • Cannabis Indica is characterized by its compact size, bushy growth, wider leaves, and quicker flowering period compared to Cannabis sativa. Indica varieties contain more THC and less CBD, resulting in distinct effects and medicinal advantages. Indica varieties are helpful for alleviating pain, controlling long-term and nerve-related pain, arthritis, fibromyalgia, sleep problems, inability to sleep, and encouraging relaxation and triggering sleep because of their potent pain-relieving and calming characteristics. Indica varieties are successful in reducing anxiety, stress, muscle spasms, and seizures. Their calming and muscle-relaxant properties can assist in managing anxiety disorders, PTSD, high stress levels, multiple sclerosis, and epilepsy.
  • The market for indica-dominant products is influenced by consumer demand for indica strains, which are popular for their strong therapeutic benefits such as pain relief and improving sleep quality. The demand for these strains has led to a broad selection of indica-dominant products being made accessible in different forms to meet diverse patient requirements.
  • Medical marijuana programs make sure that patients can get access to suitable strains that are effective for their medical conditions, specifically emphasizing the use of indica strains for their therapeutic advantages. Research indicates that indica strains have been found to be effective, resulting in their inclusion in medical cannabis protocols by regulatory agencies. Research has demonstrated that indica strains can effectively help with pain relief, better sleep, and anxiety reduction. Patient feedback continues to confirm these advantages, which is a key factor in indica's widespread use in the medical field.

By End-User, Pharmaceutical Industry Segment Held the Largest Share in 2023

  • Pharmaceutical firms devote resources to research and development to investigate the medicinal benefits of cannabinoids found in cannabis. They research the impacts on health conditions, methods of administering, amount of medication, and level of safety. Clinical trials are carried out to provide evidence on the effectiveness and safety of medicines based on cannabis. Validation by science is crucial for medical and regulatory approval. Health authorities such as the FDA in the US and EMA in Europe implement strict regulations for medical cannabis products.
  • Pharmaceutical companies possess the expertise and capabilities to uphold these regulations, guaranteeing both safety and quality. Pharmaceutical companies must adeptly navigate the approval process by conducting rigorous clinical trials and providing evidence of therapeutic benefits. Pharmaceutical firms safeguard their investments by obtaining patents for distinct cannabinoid formulations, delivery methods, and therapeutic uses, ensuring a competitive advantage and exclusive product choices in the industry.
  • Pharmaceutical companies establish trust with doctors and patients through the provision of thoroughly tested cannabis-derived medications that are approved by regulatory agencies. Their products provide consistent strength and amount, guaranteeing dependable therapy in contrast to uncontrolled cannabis products with inconsistent outcomes. Pharmaceutical companies have wide distribution networks for global sales of medical cannabis products, ensuring patients worldwide have access. These medicines are often covered by health insurance plans, increasing accessibility compared to other cannabis products paid out-of-pocket.

Medical Cannabis Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast Period

  • Despite federal laws prohibiting it, medical cannabis is legal in multiple states in the US. California, Colorado, and Massachusetts have set up programs for cultivating, distributing, and using marijuana for medical purposes, which is helping patients with various medical conditions. In 2001, Canada legalized medical cannabis, and in 2018, it also legalized recreational cannabis, with Health Canada responsible for regulating production and distribution to ensure high quality and safety standards are met.
  • North American organizations and businesses are at the forefront of cannabis research for managing chronic pain, epilepsy, PTSD, and multiple sclerosis. They create new cannabis-derived medications and methods of delivery to enhance the accessibility and quality of patient care. The public attitude towards cannabis in North America has changed for the better, as there is now greater acknowledgment of its medical advantages thanks to advocacy campaigns and educational initiatives.
  • Dispensaries and clinics enhance availability of medical marijuana. Telemedicine advancements simplify the process of obtaining prescriptions for patients. Investment from venture capital and private equity firms in medical cannabis companies has been substantial, and numerous North American cannabis companies are listed publicly for funding and research purposes. The differences in regulations between federal and state laws in the U.S. create obstacles and opportunities for progress. Ongoing regulatory changes and potential federal legalization may enhance North America's market standing.
  •  In 2023, Florida leads the U.S. medical cannabis market with 831,775 patients, followed by Pennsylvania (712,421) and Oklahoma (368,679). Ohio (174,591) and Missouri (163,787) show moderate numbers, while New York has only 12,290 patients. This data indicates a thriving market with significant growth potential in several states.

Medical Cannabis Market Active Players

  • Canopy Growth Corporation (Canada)
  • Aurora Cannabis Inc. (Canada)
  • Tilray, Inc. (Canada)
  • GW Pharmaceuticals plc (United Kingdom)
  • Cronos Group Inc. (Canada)
  • Aphria Inc. (Canada)
  • MedMen Enterprises Inc. (USA)
  • Green Thumb Industries (GTI) (USA)
  • Trulieve Cannabis Corp. (USA)
  • Curaleaf Holdings, Inc. (USA)
  • Cresco Labs (USA)
  • Harvest Health & Recreation Inc. (USA)
  • Acreage Holdings, Inc. (USA)
  • Innovative Industrial Properties, Inc. (USA)
  • HEXO Corp. (Canada)
  • Organigram Holdings Inc. (Canada)
  • MedReleaf Corp. (Canada)
  • The Green Organic Dutchman Holdings Ltd. (TGOD) (Canada)
  • TerrAscend Corp. (Canada)
  • Valens GroWorks Corp. (Canada)
  • Village Farms International, Inc. (Canada)
  • VIVO Cannabis Inc. (Canada)
  • iAnthus Capital Holdings, Inc. (USA)
  • Planet 13 Holdings Inc. (USA)
  • Columbia Care Inc. (USA)
  • MariMed Inc. (USA)

Global Medical Cannabis Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 13119.89 Million

Forecast Period 2024-32 CAGR:

24.02 %

Market Size in 2032:

USD 91065.89 Million

Segments Covered:

By Product Type

  • Flowers/Buds
  • Concentrates
  • Edibles
  • Topicals
  • Tinctures
  • Capsules

By Species

  • Cannabis Indica
  • Cannabis Sativa
  • Hybrid

By Derivatives

  • Cannabidiol (CBD)
  • Tetrahydrocannabinol (THC)
  • Cannabinol (CBN)
  • Cannabicyclol (CBL)
  • Cannabichromene (CBC)
  • Cannabigerol (CBG)

By Source

  • Natural
  • Synthetic

By Application

  • Cancer
  • Chronic Pain
  • Arthritis
  • Neurological Disorders
  • Skin Conditions
  • Others {Anxiety and Stress, Sleep Aids, Migraines}

By End-User

  • Pharmaceutical Industry
  • Research and Development Centres
  •  Homecare Setting
  • Hospitals and Clinics
  • Retail Pharmacies
  • Government and Regulatory Bodies

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Increased Execution of Cannabis for Recreational Purpose

Key Market Restraints:

  • Legal and Regulatory Barriers

Key Opportunities:

  • Novel product development with increasing R&D activities

Companies Covered in the report:

  • Canopy Growth Corporation (Canada), Aurora Cannabis Inc. (Canada), Tilray, Inc. (Canada), GW Pharmaceuticals plc (United Kingdom), Cronos Group Inc. (Canada), and Other Active Players.
Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Medical Cannabis Market by Product Type (2018-2032)
 4.1 Medical Cannabis Market Snapshot and Growth Engine
 4.2 Market Overview
 4.3 Flowers/Buds
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  4.3.3 Key Market Trends, Growth Factors, and Opportunities
  4.3.4 Geographic Segmentation Analysis
 4.4 Concentrates
 4.5 Edibles
 4.6 Topicals
 4.7 Tinctures
 4.8 Capsules

Chapter 5: Medical Cannabis Market by Species (2018-2032)
 5.1 Medical Cannabis Market Snapshot and Growth Engine
 5.2 Market Overview
 5.3 Cannabis Indica
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  5.3.3 Key Market Trends, Growth Factors, and Opportunities
  5.3.4 Geographic Segmentation Analysis
 5.4 Cannabis Sativa
 5.5 Hybrid

Chapter 6: Medical Cannabis Market by Derivatives (2018-2032)
 6.1 Medical Cannabis Market Snapshot and Growth Engine
 6.2 Market Overview
 6.3 Cannabidiol (CBD)
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  6.3.3 Key Market Trends, Growth Factors, and Opportunities
  6.3.4 Geographic Segmentation Analysis
 6.4 Tetrahydrocannabinol (THC)
 6.5 Cannabinol (CBN)
 6.6 Cannabicyclol (CBL)
 6.7 Cannabichromene (CBC)
 6.8 Cannabigerol (CBG)

Chapter 7: Medical Cannabis Market by Source (2018-2032)
 7.1 Medical Cannabis Market Snapshot and Growth Engine
 7.2 Market Overview
 7.3 Natural
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  7.3.3 Key Market Trends, Growth Factors, and Opportunities
  7.3.4 Geographic Segmentation Analysis
 7.4 Synthetic

Chapter 8: Medical Cannabis Market by Application (2018-2032)
 8.1 Medical Cannabis Market Snapshot and Growth Engine
 8.2 Market Overview
 8.3 Cancer
  8.3.1 Introduction and Market Overview
  8.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  8.3.3 Key Market Trends, Growth Factors, and Opportunities
  8.3.4 Geographic Segmentation Analysis
 8.4 Chronic Pain
 8.5 Arthritis
 8.6 Neurological Disorders
 8.7 Skin Conditions
 8.8 Others {Anxiety and Stress
 8.9 Sleep Aids
 8.10 Migraines}

Chapter 9: Medical Cannabis Market by End-User (2018-2032)
 9.1 Medical Cannabis Market Snapshot and Growth Engine
 9.2 Market Overview
 9.3 Pharmaceutical Industry
  9.3.1 Introduction and Market Overview
  9.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
  9.3.3 Key Market Trends, Growth Factors, and Opportunities
  9.3.4 Geographic Segmentation Analysis
 9.4 Research and Development Centres
 9.5 Homecare Setting
 9.6 Hospitals and Clinics
 9.7 Retail Pharmacies
 9.8 Government and Regulatory Bodies

Chapter 10: Company Profiles and Competitive Analysis
 10.1 Competitive Landscape
  10.1.1 Competitive Benchmarking
  10.1.2 Medical Cannabis Market Share by Manufacturer (2024)
  10.1.3 Industry BCG Matrix
  10.1.4 Heat Map Analysis
  10.1.5 Mergers and Acquisitions  
 10.2 CANOPY GROWTH CORPORATION (CANADA)
  10.2.1 Company Overview
  10.2.2 Key Executives
  10.2.3 Company Snapshot
  10.2.4 Role of the Company in the Market
  10.2.5 Sustainability and Social Responsibility
  10.2.6 Operating Business Segments
  10.2.7 Product Portfolio
  10.2.8 Business Performance
  10.2.9 Key Strategic Moves and Recent Developments
  10.2.10 SWOT Analysis
 10.3 AURORA CANNABIS INC. (CANADA)
 10.4 TILRAY INC. (CANADA)
 10.5 GW PHARMACEUTICALS PLC (UNITED KINGDOM)
 10.6 CRONOS GROUP INC. (CANADA)
 10.7 APHRIA INC. (CANADA)
 10.8 MEDMEN ENTERPRISES INC. (USA)
 10.9 GREEN THUMB INDUSTRIES (GTI) (USA)
 10.10 TRULIEVE CANNABIS CORP. (USA)
 10.11 CURALEAF HOLDINGS INC. (USA)
 10.12 CRESCO LABS (USA)
 10.13 HARVEST HEALTH & RECREATION INC. (USA)
 10.14 ACREAGE HOLDINGS INC. (USA)
 10.15 INNOVATIVE INDUSTRIAL PROPERTIES INC. (USA)
 10.16 HEXO CORP. (CANADA)
 10.17 ORGANIGRAM HOLDINGS INC. (CANADA)
 10.18 MEDRELEAF CORP. (CANADA)
 10.19 THE GREEN ORGANIC DUTCHMAN HOLDINGS LTD. (TGOD) (CANADA)
 10.20 TERRASCEND CORP. (CANADA)
 10.21 VALENS GROWORKS CORP. (CANADA)
 10.22 VILLAGE FARMS INTERNATIONAL INC. (CANADA)
 10.23 VIVO CANNABIS INC. (CANADA)
 10.24 IANTHUS CAPITAL HOLDINGS INC. (USA)
 10.25 PLANET 13 HOLDINGS INC. (USA)
 10.26 COLUMBIA CARE INC. (USA)
 10.27 MARIMED INC. (USA)
 10.28 LIBERTY HEALTH SCIENCES INC. (CANADA)

Chapter 11: Global Medical Cannabis Market By Region
 11.1 Overview
11.2. North America Medical Cannabis Market
  11.2.1 Key Market Trends, Growth Factors and Opportunities
  11.2.2 Top Key Companies
  11.2.3 Historic and Forecasted Market Size by Segments
  11.2.4 Historic and Forecasted Market Size by Product Type
  11.2.4.1 Flowers/Buds
  11.2.4.2 Concentrates
  11.2.4.3 Edibles
  11.2.4.4 Topicals
  11.2.4.5 Tinctures
  11.2.4.6 Capsules
  11.2.5 Historic and Forecasted Market Size by Species
  11.2.5.1 Cannabis Indica
  11.2.5.2 Cannabis Sativa
  11.2.5.3 Hybrid
  11.2.6 Historic and Forecasted Market Size by Derivatives
  11.2.6.1 Cannabidiol (CBD)
  11.2.6.2 Tetrahydrocannabinol (THC)
  11.2.6.3 Cannabinol (CBN)
  11.2.6.4 Cannabicyclol (CBL)
  11.2.6.5 Cannabichromene (CBC)
  11.2.6.6 Cannabigerol (CBG)
  11.2.7 Historic and Forecasted Market Size by Source
  11.2.7.1 Natural
  11.2.7.2 Synthetic
  11.2.8 Historic and Forecasted Market Size by Application
  11.2.8.1 Cancer
  11.2.8.2 Chronic Pain
  11.2.8.3 Arthritis
  11.2.8.4 Neurological Disorders
  11.2.8.5 Skin Conditions
  11.2.8.6 Others {Anxiety and Stress
  11.2.8.7 Sleep Aids
  11.2.8.8 Migraines}
  11.2.9 Historic and Forecasted Market Size by End-User
  11.2.9.1 Pharmaceutical Industry
  11.2.9.2 Research and Development Centres
  11.2.9.3 Homecare Setting
  11.2.9.4 Hospitals and Clinics
  11.2.9.5 Retail Pharmacies
  11.2.9.6 Government and Regulatory Bodies
  11.2.10 Historic and Forecast Market Size by Country
  11.2.10.1 US
  11.2.10.2 Canada
  11.2.10.3 Mexico
11.3. Eastern Europe Medical Cannabis Market
  11.3.1 Key Market Trends, Growth Factors and Opportunities
  11.3.2 Top Key Companies
  11.3.3 Historic and Forecasted Market Size by Segments
  11.3.4 Historic and Forecasted Market Size by Product Type
  11.3.4.1 Flowers/Buds
  11.3.4.2 Concentrates
  11.3.4.3 Edibles
  11.3.4.4 Topicals
  11.3.4.5 Tinctures
  11.3.4.6 Capsules
  11.3.5 Historic and Forecasted Market Size by Species
  11.3.5.1 Cannabis Indica
  11.3.5.2 Cannabis Sativa
  11.3.5.3 Hybrid
  11.3.6 Historic and Forecasted Market Size by Derivatives
  11.3.6.1 Cannabidiol (CBD)
  11.3.6.2 Tetrahydrocannabinol (THC)
  11.3.6.3 Cannabinol (CBN)
  11.3.6.4 Cannabicyclol (CBL)
  11.3.6.5 Cannabichromene (CBC)
  11.3.6.6 Cannabigerol (CBG)
  11.3.7 Historic and Forecasted Market Size by Source
  11.3.7.1 Natural
  11.3.7.2 Synthetic
  11.3.8 Historic and Forecasted Market Size by Application
  11.3.8.1 Cancer
  11.3.8.2 Chronic Pain
  11.3.8.3 Arthritis
  11.3.8.4 Neurological Disorders
  11.3.8.5 Skin Conditions
  11.3.8.6 Others {Anxiety and Stress
  11.3.8.7 Sleep Aids
  11.3.8.8 Migraines}
  11.3.9 Historic and Forecasted Market Size by End-User
  11.3.9.1 Pharmaceutical Industry
  11.3.9.2 Research and Development Centres
  11.3.9.3 Homecare Setting
  11.3.9.4 Hospitals and Clinics
  11.3.9.5 Retail Pharmacies
  11.3.9.6 Government and Regulatory Bodies
  11.3.10 Historic and Forecast Market Size by Country
  11.3.10.1 Russia
  11.3.10.2 Bulgaria
  11.3.10.3 The Czech Republic
  11.3.10.4 Hungary
  11.3.10.5 Poland
  11.3.10.6 Romania
  11.3.10.7 Rest of Eastern Europe
11.4. Western Europe Medical Cannabis Market
  11.4.1 Key Market Trends, Growth Factors and Opportunities
  11.4.2 Top Key Companies
  11.4.3 Historic and Forecasted Market Size by Segments
  11.4.4 Historic and Forecasted Market Size by Product Type
  11.4.4.1 Flowers/Buds
  11.4.4.2 Concentrates
  11.4.4.3 Edibles
  11.4.4.4 Topicals
  11.4.4.5 Tinctures
  11.4.4.6 Capsules
  11.4.5 Historic and Forecasted Market Size by Species
  11.4.5.1 Cannabis Indica
  11.4.5.2 Cannabis Sativa
  11.4.5.3 Hybrid
  11.4.6 Historic and Forecasted Market Size by Derivatives
  11.4.6.1 Cannabidiol (CBD)
  11.4.6.2 Tetrahydrocannabinol (THC)
  11.4.6.3 Cannabinol (CBN)
  11.4.6.4 Cannabicyclol (CBL)
  11.4.6.5 Cannabichromene (CBC)
  11.4.6.6 Cannabigerol (CBG)
  11.4.7 Historic and Forecasted Market Size by Source
  11.4.7.1 Natural
  11.4.7.2 Synthetic
  11.4.8 Historic and Forecasted Market Size by Application
  11.4.8.1 Cancer
  11.4.8.2 Chronic Pain
  11.4.8.3 Arthritis
  11.4.8.4 Neurological Disorders
  11.4.8.5 Skin Conditions
  11.4.8.6 Others {Anxiety and Stress
  11.4.8.7 Sleep Aids
  11.4.8.8 Migraines}
  11.4.9 Historic and Forecasted Market Size by End-User
  11.4.9.1 Pharmaceutical Industry
  11.4.9.2 Research and Development Centres
  11.4.9.3 Homecare Setting
  11.4.9.4 Hospitals and Clinics
  11.4.9.5 Retail Pharmacies
  11.4.9.6 Government and Regulatory Bodies
  11.4.10 Historic and Forecast Market Size by Country
  11.4.10.1 Germany
  11.4.10.2 UK
  11.4.10.3 France
  11.4.10.4 The Netherlands
  11.4.10.5 Italy
  11.4.10.6 Spain
  11.4.10.7 Rest of Western Europe
11.5. Asia Pacific Medical Cannabis Market
  11.5.1 Key Market Trends, Growth Factors and Opportunities
  11.5.2 Top Key Companies
  11.5.3 Historic and Forecasted Market Size by Segments
  11.5.4 Historic and Forecasted Market Size by Product Type
  11.5.4.1 Flowers/Buds
  11.5.4.2 Concentrates
  11.5.4.3 Edibles
  11.5.4.4 Topicals
  11.5.4.5 Tinctures
  11.5.4.6 Capsules
  11.5.5 Historic and Forecasted Market Size by Species
  11.5.5.1 Cannabis Indica
  11.5.5.2 Cannabis Sativa
  11.5.5.3 Hybrid
  11.5.6 Historic and Forecasted Market Size by Derivatives
  11.5.6.1 Cannabidiol (CBD)
  11.5.6.2 Tetrahydrocannabinol (THC)
  11.5.6.3 Cannabinol (CBN)
  11.5.6.4 Cannabicyclol (CBL)
  11.5.6.5 Cannabichromene (CBC)
  11.5.6.6 Cannabigerol (CBG)
  11.5.7 Historic and Forecasted Market Size by Source
  11.5.7.1 Natural
  11.5.7.2 Synthetic
  11.5.8 Historic and Forecasted Market Size by Application
  11.5.8.1 Cancer
  11.5.8.2 Chronic Pain
  11.5.8.3 Arthritis
  11.5.8.4 Neurological Disorders
  11.5.8.5 Skin Conditions
  11.5.8.6 Others {Anxiety and Stress
  11.5.8.7 Sleep Aids
  11.5.8.8 Migraines}
  11.5.9 Historic and Forecasted Market Size by End-User
  11.5.9.1 Pharmaceutical Industry
  11.5.9.2 Research and Development Centres
  11.5.9.3 Homecare Setting
  11.5.9.4 Hospitals and Clinics
  11.5.9.5 Retail Pharmacies
  11.5.9.6 Government and Regulatory Bodies
  11.5.10 Historic and Forecast Market Size by Country
  11.5.10.1 China
  11.5.10.2 India
  11.5.10.3 Japan
  11.5.10.4 South Korea
  11.5.10.5 Malaysia
  11.5.10.6 Thailand
  11.5.10.7 Vietnam
  11.5.10.8 The Philippines
  11.5.10.9 Australia
  11.5.10.10 New Zealand
  11.5.10.11 Rest of APAC
11.6. Middle East & Africa Medical Cannabis Market
  11.6.1 Key Market Trends, Growth Factors and Opportunities
  11.6.2 Top Key Companies
  11.6.3 Historic and Forecasted Market Size by Segments
  11.6.4 Historic and Forecasted Market Size by Product Type
  11.6.4.1 Flowers/Buds
  11.6.4.2 Concentrates
  11.6.4.3 Edibles
  11.6.4.4 Topicals
  11.6.4.5 Tinctures
  11.6.4.6 Capsules
  11.6.5 Historic and Forecasted Market Size by Species
  11.6.5.1 Cannabis Indica
  11.6.5.2 Cannabis Sativa
  11.6.5.3 Hybrid
  11.6.6 Historic and Forecasted Market Size by Derivatives
  11.6.6.1 Cannabidiol (CBD)
  11.6.6.2 Tetrahydrocannabinol (THC)
  11.6.6.3 Cannabinol (CBN)
  11.6.6.4 Cannabicyclol (CBL)
  11.6.6.5 Cannabichromene (CBC)
  11.6.6.6 Cannabigerol (CBG)
  11.6.7 Historic and Forecasted Market Size by Source
  11.6.7.1 Natural
  11.6.7.2 Synthetic
  11.6.8 Historic and Forecasted Market Size by Application
  11.6.8.1 Cancer
  11.6.8.2 Chronic Pain
  11.6.8.3 Arthritis
  11.6.8.4 Neurological Disorders
  11.6.8.5 Skin Conditions
  11.6.8.6 Others {Anxiety and Stress
  11.6.8.7 Sleep Aids
  11.6.8.8 Migraines}
  11.6.9 Historic and Forecasted Market Size by End-User
  11.6.9.1 Pharmaceutical Industry
  11.6.9.2 Research and Development Centres
  11.6.9.3 Homecare Setting
  11.6.9.4 Hospitals and Clinics
  11.6.9.5 Retail Pharmacies
  11.6.9.6 Government and Regulatory Bodies
  11.6.10 Historic and Forecast Market Size by Country
  11.6.10.1 Turkiye
  11.6.10.2 Bahrain
  11.6.10.3 Kuwait
  11.6.10.4 Saudi Arabia
  11.6.10.5 Qatar
  11.6.10.6 UAE
  11.6.10.7 Israel
  11.6.10.8 South Africa
11.7. South America Medical Cannabis Market
  11.7.1 Key Market Trends, Growth Factors and Opportunities
  11.7.2 Top Key Companies
  11.7.3 Historic and Forecasted Market Size by Segments
  11.7.4 Historic and Forecasted Market Size by Product Type
  11.7.4.1 Flowers/Buds
  11.7.4.2 Concentrates
  11.7.4.3 Edibles
  11.7.4.4 Topicals
  11.7.4.5 Tinctures
  11.7.4.6 Capsules
  11.7.5 Historic and Forecasted Market Size by Species
  11.7.5.1 Cannabis Indica
  11.7.5.2 Cannabis Sativa
  11.7.5.3 Hybrid
  11.7.6 Historic and Forecasted Market Size by Derivatives
  11.7.6.1 Cannabidiol (CBD)
  11.7.6.2 Tetrahydrocannabinol (THC)
  11.7.6.3 Cannabinol (CBN)
  11.7.6.4 Cannabicyclol (CBL)
  11.7.6.5 Cannabichromene (CBC)
  11.7.6.6 Cannabigerol (CBG)
  11.7.7 Historic and Forecasted Market Size by Source
  11.7.7.1 Natural
  11.7.7.2 Synthetic
  11.7.8 Historic and Forecasted Market Size by Application
  11.7.8.1 Cancer
  11.7.8.2 Chronic Pain
  11.7.8.3 Arthritis
  11.7.8.4 Neurological Disorders
  11.7.8.5 Skin Conditions
  11.7.8.6 Others {Anxiety and Stress
  11.7.8.7 Sleep Aids
  11.7.8.8 Migraines}
  11.7.9 Historic and Forecasted Market Size by End-User
  11.7.9.1 Pharmaceutical Industry
  11.7.9.2 Research and Development Centres
  11.7.9.3 Homecare Setting
  11.7.9.4 Hospitals and Clinics
  11.7.9.5 Retail Pharmacies
  11.7.9.6 Government and Regulatory Bodies
  11.7.10 Historic and Forecast Market Size by Country
  11.7.10.1 Brazil
  11.7.10.2 Argentina
  11.7.10.3 Rest of SA

Chapter 12 Analyst Viewpoint and Conclusion
12.1 Recommendations and Concluding Analysis
12.2 Potential Market Strategies

Chapter 13 Research Methodology
13.1 Research Process
13.2 Primary Research
13.3 Secondary Research

Global Medical Cannabis Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 13119.89 Million

Forecast Period 2024-32 CAGR:

24.02 %

Market Size in 2032:

USD 91065.89 Million

Segments Covered:

By Product Type

  • Flowers/Buds
  • Concentrates
  • Edibles
  • Topicals
  • Tinctures
  • Capsules

By Species

  • Cannabis Indica
  • Cannabis Sativa
  • Hybrid

By Derivatives

  • Cannabidiol (CBD)
  • Tetrahydrocannabinol (THC)
  • Cannabinol (CBN)
  • Cannabicyclol (CBL)
  • Cannabichromene (CBC)
  • Cannabigerol (CBG)

By Source

  • Natural
  • Synthetic

By Application

  • Cancer
  • Chronic Pain
  • Arthritis
  • Neurological Disorders
  • Skin Conditions
  • Others {Anxiety and Stress, Sleep Aids, Migraines}

By End-User

  • Pharmaceutical Industry
  • Research and Development Centres
  •  Homecare Setting
  • Hospitals and Clinics
  • Retail Pharmacies
  • Government and Regulatory Bodies

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Increased Execution of Cannabis for Recreational Purpose

Key Market Restraints:

  • Legal and Regulatory Barriers

Key Opportunities:

  • Novel product development with increasing R&D activities

Companies Covered in the report:

  • Canopy Growth Corporation (Canada), Aurora Cannabis Inc. (Canada), Tilray, Inc. (Canada), GW Pharmaceuticals plc (United Kingdom), Cronos Group Inc. (Canada), and Other Active Players.