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Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Medical Cannabis Market By Product Type, By Application, By Distribution Channel, and Geography
Medical Cannabis Market By Product Type, By Application, By Distribution Channel, and Geography
Medical Cannabis Market size was valued at US$ 8,432.25 million in 2023 and is expected to reach US$ 37,159.76 million by 2030, at a CAGR of 23.6% from 2024-2030. Due to the increase in the prevalence of cancer and other chronic diseases across the globe. For instance, according to the World Health Organization 2018, about 9.6 Mn deaths occurred due to cancer throughout the world.
Moreover, a rise in R&D activities for the development of newer cannabis products, rapid legalization of cannabis in developed and developing countries, increase in adoption of medical cannabis among healthcare professionals, and less adverse effects with cannabis compared with other therapeutics are expected to bolster the market over the forecast years. However, stringent regulatory framework, approval for legal marijuana in limited countries, lack of testing standards for medical cannabis, and lack of awareness about medical cannabis in underdeveloped countries will hinder the growth of the market over the forecast years.
This report studies market dynamics elaborately to identify the current trends & drivers, future opportunities, and possible challenges to the key stakeholders operating in the market. In addition, the market report includes human demographics; regulatory scenario, and competition analysis with a vividly illustrated competition dashboard to assess the market competition. Moreover, PBI analyzed the global market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
Study Period
2024-2030Base Year
2023CAGR
23.6%Largest Market
EuropeFastest Growing Market
North-America
Rapid legalization of cannabis for the treatment of chronic diseases in developed and developing countries is a major factor surge the growth of medical cannabis market over the forecast timeframe. Cannabis is more effective for chemotherapy patients to reduce the nausea and vomiting and increase the appetite that enhance the treatment more tolerable.
Moreover, at present, 33 US states marketing the medical cannabis with $10.4 billion in legal sales nationally in 2018. In addition, in March 2017, Germany legalized the medical cannabis after passing a bill by parliamentarians. Additionally, in 2013, Czech Republic legalized the medical marijuana for the patients suffering with chronic pain.
North America dominated the medicinal cannabis market in 2018 and the same trend is expected over the forecast years owing to a surge in the incidence of cancer and other chronic diseases in the USA and Canada. For instance, as per National Cancer Institute 2018 data, approximately 1,735,350 cases were diagnosed with cancer in the United States.
Moreover, high awareness about medical cannabis among healthcare professionals and the presence of a huge number of market players also surge the market over the forecast years.
Europe medical cannabis market burgeoning at significant growth rate attributed to the legalization of marijuana in European countries such as Germany and the Czech Republic, adoption of advanced treatment procedures, and increase in the prevalence of chronic diseases in the region.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 8,432.25 million |
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Market Size in 2030 |
US$ 37,159.76 million |
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Market CAGR |
23.6% |
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By Product Type |
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By Application |
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By Distribution Channel |
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By Region |
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Download Free Sample Report
Medical cannabis market size was valued at US$ 5.1 billion in in 2023 and is set to reach US$ 37,159.76 million by 2030 and is growing at a CAGR of 23.6%
The key players of the market are Green Relief Inc, Cannabis Sativa, Inc, Vico Cannabis, Inc, Chronos Group, Inc, Organisms Holding, Inc.
North America is the fastest-growing region for market.
| 1. Executive Summary |
| 2. Global Medical Cannabis Market Introduction |
| 2.1.Global Medical Cannabis Market - Taxonomy |
| 2.2.Global Medical Cannabis Market - Definitions |
| 2.2.1.Product Type |
| 2.2.2.Application |
| 2.2.3.Distribution Channel |
| 2.2.4.Region |
| 3. Global Medical Cannabis Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4. Global Medical Cannabis Market Analysis, 2019-2023 and Forecast 2024-2030 |
| 4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Medical Cannabis Market By Product Type, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 5.1. Cannabidiol |
| 5.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Tetrahydrocannabinol |
| 5.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Others |
| 5.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6. Global Medical Cannabis Market By Application, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 6.1. Nausea and Vomiting |
| 6.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Pain |
| 6.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Epilepsy |
| 6.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Multiple Sclerosis |
| 6.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Arthritis |
| 6.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Others |
| 6.6.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 7. Global Medical Cannabis Market By Distribution Channel, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 7.1. Hospital Pharmacies |
| 7.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Retail Pharmacies |
| 7.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Others |
| 7.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 8. Global Medical Cannabis Market By Region, 2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9. North America Medical Cannabis Market ,2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 9.1. Product Type Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Cannabidiol |
| 9.1.2.Tetrahydrocannabinol |
| 9.1.3.Others |
| 9.2. Application Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Nausea and Vomiting |
| 9.2.2.Pain |
| 9.2.3.Epilepsy |
| 9.2.4.Multiple Sclerosis |
| 9.2.5.Arthritis |
| 9.2.6.Others |
| 9.3. Distribution Channel Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Hospital Pharmacies |
| 9.3.2.Retail Pharmacies |
| 9.3.3.Others |
| 9.4. Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10. Europe Medical Cannabis Market ,2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 10.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Cannabidiol |
| 10.1.2.Tetrahydrocannabinol |
| 10.1.3.Others |
| 10.2. Application Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Nausea and Vomiting |
| 10.2.2.Pain |
| 10.2.3.Epilepsy |
| 10.2.4.Multiple Sclerosis |
| 10.2.5.Arthritis |
| 10.2.6.Others |
| 10.3. Distribution Channel Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Hospital Pharmacies |
| 10.3.2.Retail Pharmacies |
| 10.3.3.Others |
| 10.4. Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 10.4.6.Rest of EU |
| 11. Asia Pacific (APAC) Medical Cannabis Market ,2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 11.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Cannabidiol |
| 11.1.2.Tetrahydrocannabinol |
| 11.1.3.Others |
| 11.2. Application Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Nausea and Vomiting |
| 11.2.2.Pain |
| 11.2.3.Epilepsy |
| 11.2.4.Multiple Sclerosis |
| 11.2.5.Arthritis |
| 11.2.6.Others |
| 11.3. Distribution Channel Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Hospital Pharmacies |
| 11.3.2.Retail Pharmacies |
| 11.3.3.Others |
| 11.4. Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12. Middle East and Africa (MEA) Medical Cannabis Market ,2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 12.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Cannabidiol |
| 12.1.2.Tetrahydrocannabinol |
| 12.1.3.Others |
| 12.2. Application Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Nausea and Vomiting |
| 12.2.2.Pain |
| 12.2.3.Epilepsy |
| 12.2.4.Multiple Sclerosis |
| 12.2.5.Arthritis |
| 12.2.6.Others |
| 12.3. Distribution Channel Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Hospital Pharmacies |
| 12.3.2.Retail Pharmacies |
| 12.3.3.Others |
| 12.4. Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13. Latin America Medical Cannabis Market ,2019-2023 and Forecast 2024-2030 (Sales Value USD Million) |
| 13.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Cannabidiol |
| 13.1.2.Tetrahydrocannabinol |
| 13.1.3.Others |
| 13.2. Application Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Nausea and Vomiting |
| 13.2.2.Pain |
| 13.2.3.Epilepsy |
| 13.2.4.Multiple Sclerosis |
| 13.2.5.Arthritis |
| 13.2.6.Others |
| 13.3. Distribution Channel Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Hospital Pharmacies |
| 13.3.2.Retail Pharmacies |
| 13.3.3.Others |
| 13.4. Country Analysis 2019-2023 and Forecast 2024-2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Canopy Growth Corporation |
| 14.2.2.Aurora Medical Cannabis Inc. |
| 14.2.3.GW Pharmaceuticals |
| 14.2.4.Cannimed, Ltd. |
| 14.2.5.Aphria Inc. |
| 14.2.6.Emerald Health Ltd. |
| 14.2.7.Tilray Inc. |
| 14.2.8.Medreleaf Corporation |
| 14.2.9.Medical Marijuana, Inc. |
| 14.2.10.Insys Therapeutics, Inc. |
| 14.2.11.Green Relief Inc. |
| 14.2.12.Cannabis Sativa, Inc. |
| 14.2.13.Vico Cannabis, Inc. |
| 14.2.14.Chronos Group, Inc. |
| 14.2.15.Organisms Holding, Inc. |
| 14.2.16.Curaleaf Holdings, inc. |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.