Medical Cannabis Market Overview —
Medical cannabis is getting adopted by global medical practitioners with its legalization. It is useful in the treatment and reducing the occurrences of chronic pains, chronic diseases like diabetes, cancer epilepsy, Alzheimer's, and others. On observing the current market trends, the global medical cannabis market is projected to reach 16 % annual growth rate during the survey period. Cannabis is safer and possesses fewer side-effects, which have increased the adoption of this practice. Medical cannabis is still in its growing periods and is gaining a healthy response from all regions.
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With the increasing usage and potential of cannabis, the companies are moving forward towards research & development programs. They are making trials for expanding the market and finding new characteristics of the medicine. Also, there are several proofs of its usage in older treatment methods, which has attracted the markets and authorities for searching the aspects with individual uses and combination with modern medicines. In chemotherapy cases, medical cannabis is used for increasing appetites and decreasing nausea.
Apart from present stances and future aspects, the global medical cannabis market is facing friction from illegal marijuana usage and rigid regulations implemented by the authorities. The companies are readily acting and are in touch with authorities for spreading awareness about the uses and advantages of this technology.
Global Medical Cannabis Market segments
The global medical cannabis market is segmented into four parts, which are:
Product types: Medical marijuana is available as oils, creams, solids, and other forms.
Derivative: There are two types of derivatives, namely Cannabidiol (CBD) and tetrahydrocannabinol (THC)
Uses: Cannabis is used for the treatment of Alzheimer’s disease, cancer, epilepsy, schizophrenia, and other chronic conditions.
Supply chains: Medical cannabis is available through offline and online portals.
Medical Cannabis Market Regional Summary
America, Europe, Asia Pacific, and The Middle East & African regions are the major regions observed for the global medical cannabis market.
The American region is currently leading the market and will maintain its position during the survey period. Increasing awareness, molding of rules, rising chronic disease cases, demands for better healthcare products, and other factors are driving the market in this region. The European region is the second-largest market in the world due to investments in research & development programs, demands for the latest treatments, and other factors.
The Asia Pacific region is the next market in this region but will grow at the highest rates during the survey period. Vast population cover, rising disposable incomes, increasing awareness, health issues, and the aged population are the factors responsible for seamless opportunities and growth in this region.
The rest of the regions are also gaining pace with the increase in medical expenditures and government initiatives.
Medical Cannabis Market Key Players
Some of the key players in the global medical cannabis market are Canopy Growth Corporation (Canada), Aphria, Inc. (Canada), Maricann Inc. (Canada), Tilray (Canada), GW Pharmaceuticals PLC (UK), Medical Marijuana, Inc. (US), Cannabis Sativa Inc. (US), Aurora Cannabis (Canada), CanniMed Ltd (Canada), MediPharm Labs (Canada), United Cannabis (US), and GBSciences Inc. (US).
Medical Cannabis Industry News
The global medical cannabis market is growing fast and aiming for stronger future positions, but factors like illegal marijuana usage and rigid regulations are damaging the market. The American region is the current market leader, whereas the Asia Pacific region will come out as the fastest-growing market.
Table Of Contents
1. REPORT PROLOGUE
2. MARKET INTRODUCTION
2.2. Scope Of The Study
2.2.1. Research Objective
3. RESEARCH METHODOLOGY
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
4. MARKET DYNAMICS
5. MARKET FACTOR ANALYSIS
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