DUBLIN, May 18, 2022--(BUSINESS WIRE)--The "Medical Cannabis Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global medical cannabis market reached a value of US$ 26.1 billion in 2021. Looking forward, the market is projected to reach US$ 52.1 billion by 2027, exhibiting a CAGR of 10.4% during 2022-2027.
Canopy Growth Corporation
GW Pharmaceuticals plc
Aurora Cannabis Inc.
Insys Therapeutics Inc.
CanniMed Therapeutics Inc.
Cara Therapeutics Inc.
United Cannabis Corporation
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use sectors. These insights are included in the report as a major market contributor.
Cannabis is a psychoactive drug that is derived from the cannabis plant of the Cannabaceae family. It was used medicinally in ancient Indian, Chinese, Egyptian and Islamic cultures. Nowadays, cannabis finds application in the treatment of a wide range of diseases and symptoms, including cancer, chronic pain, depression, arthritis, diabetes, glaucoma, migraines, epilepsy, multiple sclerosis, acquired immunodeficiency syndrome (AIDS), amyotrophic lateral sclerosis (ALS), Alzheimer's, post-traumatic stress disorder (PTSD), Parkinson's and Tourette's.
Owing to its therapeutic benefits, cannabis has been approved for medical use in numerous countries, with varying degrees of legal restrictions. Some of these countries include Argentina, Brazil, Canada, Chile, Colombia, Czech Republic, Germany, Italy, Mexico, Spain, the United Kingdom, the United States and Uruguay.
Cannabis is safer and has less severe side effects in comparison to other treatment options. It also finds usage along with other treatments either to enhance their efficacy or to combat adverse side effects. For instance, it is very effective in reducing nausea and increasing appetite among chemotherapy patients. Similarly, it is also used in combination with traditional opioid painkillers, which enables patients to reduce the dosage and frequency of opioids significantly and imparts greater pain relief.
The steadily aging population across the globe has played a significant role in driving the demand for medical cannabis as geriatric patients are more likely to develop chronic illnesses and require more physician visits.
Clinical trials, research and development (R&D) activities and commercialization of cannabis-based indications are further expected to catalyze the growth of the market.
Although expenditure on health products is less susceptible to fluctuations, the uptake of medical marijuana is liable to changes in disposable income due to its unconventional nature. As a result, increasing disposable incomes are projected to create a positive impact on the demand for medical cannabis.
Key Questions Answered in This Report
1. What is the global medical cannabis market growth?
2. What are the global medical cannabis market drivers?
3. What are the key industry trends in the global medical cannabis market?
4. What is the impact of COVID-19 on the global medical cannabis market?
5. What is the global medical cannabis market breakup by species?
6. What is the global medical cannabis market breakup by derivatives?
7. What is the global medical cannabis market breakup by application?
8. What is the global medical cannabis market breakup by End-use?
9. What is the global medical cannabis market breakup by route of administration?
10. What are the major regions in the global medical cannabis market?
11. Who are the key companies/players in the global medical cannabis market?
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Medical Cannabis Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Species
5.5 Market Breakup by Derivatives
5.6 Market Breakup by Application
5.7 Market Breakup by End-Use
5.8 Market Breakup by Route of Administration
5.9 Market Breakup by Region
5.10 Market Forecast
5.11 SWOT Analysis
5.12 Value Chain Analysis
5.12.1 Input Suppliers
5.13 Porters Five Forces Analysis
5.13.2 Bargaining Power of Buyers
5.13.3 Bargaining Power of Suppliers
5.13.4 Degree of Competition
5.13.5 Threat of New Entrants
5.13.6 Threat of Substitutes
5.14 Key Success and Risk Factors
6 Market Breakup by Species
7 Market Breakup by Derivatives
8 Market Breakup by Application
9 Market Breakup by End-Use
10 Market Breakup by Route of Administration
11 Market Breakup by Region
12 Overview of Clinical Research Suggesting the Benefits of Medical Cannabis Across Various Indications
12.1 Alzheimer's Disease
12.4 Chronic Pain
12.7 Digestive Disorders
12.8 Multiple Sclerosis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
14 Key Player Profiles
For more information about this report visit https://www.researchandmarkets.com/r/64vjes
View source version on businesswire.com: https://www.businesswire.com/news/home/20220518005642/en/
Laura Wood, Senior Press Manager
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