Request Sample
Request Methodology
Description
Medical Cannabis Market size was valued at USD 8,432.25 million in 2021 and is expected to reach USD 37,159.76 million by 2028, at a CAGR of 23.6% during the forecast period 2022-2028. Due to the increase in the prevalence of cancer and other chronic diseases across the globe. For instance, as per World Health Organization 2018, about 9.6 Mn deaths occurred due to cancer throughout the world. Moreover, 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 the 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 are 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 global medical cannabis market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the 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).
Key Developments :
In October 2021, Canonic Ltd. announced the full commercial launch of its first two medical cannabis products, G200 and G150 in Israel.
In June 2021, Tilray, Inc. launched new medical cannabis product, Symbios in Canada.
