Cannabis Pharmaceuticals

Global Cannabis Pharmaceuticals Market to Reach US$72.7 Billion by 2030

The global market for Cannabis Pharmaceuticals estimated at US$5.2 Billion in the year 2024, is expected to reach US$72.7 Billion by 2030, growing at a CAGR of 55.1% over the analysis period 2024-2030. Sativex Brand, one of the segments analyzed in the report, is expected to record a 60.1% CAGR and reach US$52.6 Billion by the end of the analysis period. Growth in the Epidiolex Brand segment is estimated at 49.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.4 Billion While China is Forecast to Grow at 51.8% CAGR

The Cannabis Pharmaceuticals market in the U.S. is estimated at US$1.4 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$10.4 Billion by the year 2030 trailing a CAGR of 51.8% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 50.7% and 46.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 37.1% CAGR.

Global Cannabis Pharmaceuticals Market - Key Trends & Drivers Summarized

Why Is Cannabis Gaining Recognition in the Pharmaceutical Industry?

Cannabis-based pharmaceuticals are emerging as a transformative segment within the global healthcare industry, driven by increasing scientific validation of cannabinoids for medical applications. The legalization of medical cannabis in numerous countries has fueled research and development (R&D) efforts, leading to the approval of cannabis-derived drugs for conditions such as epilepsy, multiple sclerosis, and chronic pain. Additionally, shifting regulatory frameworks and growing physician acceptance are paving the way for cannabis-based formulations to be integrated into mainstream healthcare.

How Are Advancements in Cannabis Research Expanding Pharmaceutical Applications?

Ongoing clinical research has uncovered the therapeutic potential of cannabinoids such as cannabidiol (CBD) and tetrahydrocannabinol (THC), leading to the development of prescription cannabis-based drugs. Pharmaceutical companies are investing in cannabinoid extraction and formulation technologies to enhance bioavailability, stability, and targeted delivery. Advances in nanotechnology and encapsulation methods are improving the efficacy of oral, transdermal, and inhalable cannabis medications. Additionally, the exploration of minor cannabinoids such as cannabigerol (CBG) and cannabinol (CBN) is expanding the therapeutic scope of cannabis pharmaceuticals, potentially leading to new treatments for neurodegenerative diseases, anxiety disorders, and autoimmune conditions.

Which Therapeutic Areas Are Driving the Demand for Cannabis Pharmaceuticals?

The primary demand for cannabis-based pharmaceuticals comes from patients suffering from chronic pain, neurological disorders, and mental health conditions. Epidiolex, a CBD-based drug, has gained FDA approval for treating rare forms of epilepsy, while Sativex, an oral spray containing THC and CBD, is widely used for multiple sclerosis-related spasticity. The growing acceptance of cannabis for pain management is leading to its adoption as an alternative to opioids, particularly for cancer and arthritis patients. Additionally, ongoing research into cannabis-based treatments for anxiety, PTSD, and sleep disorders is expanding the potential applications of cannabis pharmaceuticals.

What Are the Key Drivers Behind the Growth of the Cannabis Pharmaceuticals Market?

The growth in the cannabis pharmaceuticals market is driven by several factors, including expanding medical cannabis legalization, increased R&D investment, and growing patient demand for alternative treatments. Regulatory approvals for cannabis-based drugs in North America and Europe have legitimized the sector, encouraging pharmaceutical companies to develop new formulations. The opioid crisis has also contributed to the demand for non-addictive pain management solutions, positioning cannabis as a viable alternative. Additionally, advancements in drug delivery systems and precision dosing are improving the efficacy of cannabis-based medications, further accelerating market growth. As global healthcare systems continue to recognize the benefits of medical cannabis, the pharmaceutical cannabis sector is poised for significant expansion.

SCOPE OF STUDY:

The report analyzes the Cannabis Pharmaceuticals market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Brand (Sativex Brand, Epidiolex Brand, Other Brands)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Select Competitors (Total 48 Featured) -

• AbbVie Inc.
• Aphria Inc.
• Aurora Cannabis Inc.
• Bausch Health Companies Inc.
• Canopy Growth Corporation
• Cresco Labs Inc.
• Cronos Group Inc.
• Curaleaf Holdings, Inc.
• Green Thumb Industries Inc.
• GW Pharmaceuticals
• Harvest Health & Recreation Inc.
• Hexo Corp.
• Insys Therapeutics, Inc.
• Jazz Pharmaceuticals plc
• MedReleaf Corp.
• Organigram Holdings Inc.
• Sundial Growers Inc.
• Tilray Brands, Inc.
• Trulieve Cannabis Corp.
• VIVO Cannabis Inc.

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