Increasing number of chronic diseases and illnesses such as cancer, Alzheimer disease, acute pain, and Parkinson’s diseases, along with rising geriatric population, as well as rising need for the innovation and advancements in drug discovery processes are the major factors that are contributing to the growth of global medical cannabis market over the coming years. Moreover, rising research and development activities across the globe in research laboratories in order to find new applications of the medical cannabis for the discovery of several treatments and cures for diseases are further contributing to the expansion of the global medical cannabis market over the coming years. —
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Further, increasing usage of the medical cannabis to treat the neurological illnesses among the patients is further contributing to the expansion of global medical cannabis market over the analysis time frame. Also, rise in efforts of the governments to permit the usage of cannabis for medical purposes and giving permit for research activities owing to the rising awareness regarding the beneficial properties of cannabis as well as the act of legalizing the usage of cannabis for the people and for medicinal purposes in some countries is further creating opportunities for the growth of global medical cannabis market in the coming years.
Medical cannabis is used in various drugs and treatments due to its beneficial properties of reducing the pain in the human body without causing any other side effect to the patients. Further, unlike marijuana, medical cannabis does not make people high and helps in treatment of the diseases. These are the major factors that are contributing to the growth of global medical cannabis market over the forecast period.
Also, rising regulations and norms by the government for the use of cannabis across several regions is likely to challenge the industry growth over the coming years.
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In terms of indication, pain management dominated the global market by contributing over 60% of revenue and is expected to maintain its dominance by 2026. Large number of patients with chronic pain opting for medical cannabis is expected to drive the segment growth in the coming years. Furthermore, cannabis has been showing positive results in management of neurological diseases such as Epilepsy, Parkinson’s, and Alzheimer’s. CNS relaxant properties of chemical compounds present in marijuana are shown to reduce seizures in various patients. Similar research evidence are expected to bring new patient pool under cannabis consumption.
In terms of regional demarcation, North America dominated the global market and is expected to retain its command through the forecast period. U.S. and Canada both are the major countries with legalized medical cannabis and large number of users too. High level of awareness regarding medical benefits of cannabis in disease management is expected to drive the regional market. However, Europe and Asia Pacific are expected to grow at a faster pace compared to North America owing to recent legalization in some countries and growth phase of the market.
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Segment overview of Global Medical Cannabis Market
• Indication Overview , 2016-2026 (USD Million)
o Pain management
o Neurological disease
• Regional Overview, 2016-2026 (USD Million)
o North America
o Asia Pacific
o Central & South America
o Middle East & Africa
Some Major Points From TOC
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Medical cannabis Market Overview, By Indication
Chapter 5. Key Country Market
Chapter 6. Company Profiles
6.1. American Cannabis
6.2. Canopy Growth Corporation
6.3. Greengro Technologies
6.4. Medical Marijuana Inc.
6.5. United Cannabis
6.6. Terra Tech Corp.
6.7. aCannabis Sativa, Inc.
6.8. Mentor Capital, Inc.
6.9. GBSciences, Inc.
6.10. The Green Solution
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