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Medical Cannabis Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

Medical Cannabis Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

The global medical cannabis market size was estimated to reach a value of US$ 13.4 Billion in 2018. The market is further expected to reach value of US$ 44.4 Billion by 2024, exhibiting a CAGR of 22.9% during 2019-2024. Cannabis is a psychoactive drug which is derived from the cannabis plant of the Cannabaceae family. It has been used medicinally for several years in ancient Indian, Chinese, Egyptian and Islamic cultures. Nowadays, cannabis finds application in the treatment of a wide range of diseases and symptoms including cancer, chronic pain, depression, arthritis, diabetes, glaucoma, migraines, epilepsy, MS, AIDS, ALS, Alzheimer’s, PTSD, Parkinson’s, Tourette’s, etc. Owing to its therapeutic benefits, cannabis has been approved for medical use in numerous countries, with varying degrees of legal restriction. Some of these countries include Argentina, Brazil, Canada, Chile, Colombia, Czech Republic, Germany, Italy, Mexico, Spain, United Kingdom, United States, Uruguay, etc.

Global Medical Cannabis Market Drivers:

Cannabis is safer and has less severe side effects in comparison to other treatment options. It also finds usage along with other treatments either to enhance their effect or to combat negative side effects. For instance, cannabis is very effective in reducing nausea and increasing appetite among the chemotherapy patients, making the agonizing treatment more tolerable. Similarly, it is also used in combination with traditional opioid painkillers, which enables patients to significantly reduce the dosage and frequency of opioids, and also imparts greater pain relief.
A steadily rising ageing population has also played an significant role in driving the demand for medical cannabis as geriatric patients are more likely to develop chronic illnesses and require more physician visits.
Clinical trials, R&D activities and commercialization of cannabis-based indications are further expected to catalyze the growth of the market.
Although expenditure on health products are less susceptible to fluctuations in consumer’s expenditure, the uptake of medical marijuana is liable to changes in disposable income due to its unconventional nature. As a result, we expect increasing disposable incomes to create a positive impact on the demand of medical cannabis.

Breakup by Species:

On the basis of species, the market has been segmented as Indica, Sativa and hybrid. Currently, Indica dominates the market, holding the largest share. It is often used in the treatment of insomnia, relaxing the muscles, relieving body pains, headaches and migraines.

Breakup by Derivatives:

Based on derivatives, the market has been divided into Cannabidiol (CBD), Tetrahydrocannabinol (THC) and others. CBD is majorly used for medical purposes due to its non-psychotic effect and low levels of toxicity, whereas, THC is utilised to reduce the side-effects of AIDS and cancer treatment.

Breakup by Application:

The market has also been divided on the basis of application, wherein, cancer represents the leading category. Other major applications of cannabis include arthritis, migraine, epilepsy, etc.

Breakup by End-Use:

On the basis of end-use, the market has been segregated into the pharmaceutical industry, research and development centers, and others. Currently, the pharmaceutical industry represents the biggest end-user.

Breakup by Route of Administration:

Based on route of administration, the market has been categorized into oral solutions and capsules, smoking, vaporizers, topicals and others. Oral solutions and capsules represent the biggest segment, accounting for the largest market share.

Regional Insights:

On a geographical front, North America enjoys the leading position in the market. Recent legalization of cannabis in North America for both recreational and medical purposes has been a major driver of the market growth. Other key regions include Europe, Asia Pacific, Latin America, and Middle East and Africa.

Competitive Landscape:

The report has also examined the competitive landscape of the market. Some of the major players include:

Canopy Growth Corporation
GW Pharmaceuticals
Aurora Cannabis, Inc.
Aphria Inc.
MedReleaf Corporation
Insys Therapeutics, Inc.
CanniMed Therapeutics, Inc.
Cara Therapeutics, Inc.
United cannabis Corporation

Key Questions Answered in This Report:

How has the global medical cannabis market performed so far and how will it perform in the coming years?
What are the key regions in the global medical cannabis market?
Which are the popular species in the global medical cannabis market?
What are the key derivatives in the global medical cannabis market?
What are the various applications of medical cannabis?
Who are the major end-user industries for medical cannabis?
What are the major routes of administration in the global medical cannabis market?
What are the various stages in the value chain of the medical cannabis industry?
What are the key driving factors and challenges in the global medical cannabis industry?
What is the structure of the global medical cannabis industry and who are the key players?
What is the degree of competition in the global medical cannabis market?


1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Medical Cannabis Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Species
5.4 Market Breakup by Derivative
5.5 Market Breakup by Application
5.6 Market Breakup by End-Use
5.7 Market Breakup by Route of Administration
5.8 Market Breakup by Region
5.9 Market Forecast
5.10 SWOT Analysis
5.10.1 Overview
5.10.2 Strengths
5.10.3 Weaknesses
5.10.4 Opportunities
5.10.5 Threats
5.11 Value Chain Analysis
5.11.1 Input Suppliers
5.11.2 Collectors
5.11.3 Manufacturers
5.11.4 Distributors
5.11.5 Exporters
5.11.6 Retailers
5.11.7 End-User
5.12 Porters Five Forces Analysis
5.12.1 Overview
5.12.2 Bargaining Power of Buyers
5.12.3 Bargaining Power of Suppliers
5.12.4 Degree of Competition
5.12.5 Threat of New Entrants
5.12.6 Threat of Substitutes
5.13 Key Success and Risk Factors
6 Market Breakup by Species
6.1 Indica
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Sativa
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Hybrid
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Derivative
7.1 Cannabidiol (CBD)
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Tetrahydrocannabinol (THC)
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Others
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Application
8.1 Cancer
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Arthritis
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Migraine
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Epilepsy
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by End-Use
9.1 Pharmaceutical Industry
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Research and Development Centres
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Others
9.3.1 Market Trends
9.3.2 Market Forecast
10 Market Breakup by Route of Administration
10.1 Oral Solutions and Capsules
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Smoking
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Vaporizers
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Topicals
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Others
10.5.1 Market Trends
10.5.2 Market Forecast
11 Market Breakup by Region
11.1 North America
11.1.1 United States
11.1.1.1 Market Trends
11.1.1.2 Market Forecast
11.1.2 Canada
11.1.2.1 Market Trends
11.1.2.2 Market Forecast
11.2 Europe
11.2.1 Germany
11.2.1.1 Market Trends
11.2.1.2 Market Forecast
11.2.2 Italy
11.2.2.1 Market Trends
11.2.2.2 Market Forecast
11.2.3 France
11.2.3.1 Market Trends
11.2.3.2 Market Forecast
11.2.4 Netherlands
11.2.4.1 Market Trends
11.2.4.2 Market Forecast
11.2.5 Spain
11.2.5.1 Market Trends
11.2.5.2 Market Forecast
11.3 Latin America
11.3.1 Market Trends
11.3.2 Market Forecast
11.4 Asia Pacific
11.4.1 Market Trends
11.4.2 Market Forecast
11.5 Middle East and Africa
11.5.1 Market Trends
11.5.2 Market Forecast
12 Overview of Clinical Research Suggesting the Benefits of Medical Cannabis Across Various Indications
12.1 Alzheimer’s Disease
12.2 Autism
12.3 Cancer
12.4 Chronic Pain
12.5 Epilepsy
12.6 Migraine
12.7 Digestive Disorders
12.8 Multiple Sclerosis
12.9 Schizophrenia
12.10 Others
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
14 Key Player Profiles
List of Figures
Figure 1: Global: Medical Cannabis Market: Major Drivers and Challenges
Figure 2: Global: Medical Cannabis Market: Value Trends (in Billion US$), 2011-2018
Figure 3: Global: Medical Cannabis Market: Breakup by Species (in %), 2018
Figure 4: Global: Medical Cannabis Market: Breakup by Derivative (in %), 2018
Figure 5: Global: Medical Cannabis Market: Breakup by Application (in %), 2018
Figure 6: Global: Medical Cannabis Market: Breakup by End-Use (in %), 2018
Figure 7: Global: Medical Cannabis Market: Breakup by Route of Administration (in %), 2018
Figure 8: Global: Medical Cannabis Market: Breakup by Region (in %), 2018
Figure 9: Global: Medical Cannabis Market Forecast: Value Trends (in Billion US$), 2019-2024
Figure 10: Global: Medical Cannabis Industry: SWOT Analysis
Figure 11: Global: Medical Cannabis Industry: Value Chain Analysis
Figure 12: Global: Medical Cannabis Industry: Porter’s Five Forces Analysis
Figure 13: Global: Medical Cannabis Market (Indica): Value Trends (in Million US$), 2011 & 2018
Figure 14: Global: Medical Cannabis Market Forecast (Indica): Value Trends (in Million US$), 2019-2024
Figure 15: Global: Medical Cannabis Market (Sativa): Value Trends (in Million US$), 2011 & 2018
Figure 16: Global: Medical Cannabis Market Forecast (Sativa): Value Trends (in Million US$), 2019-2024
Figure 17: Global: Medical Cannabis Market (Hybrid): Value Trends (in Million US$), 2011 & 2018
Figure 18: Global: Medical Cannabis Market Forecast (Hybrid): Value Trends (in Million US$), 2019-2024
Figure 19: Global: Medical Cannabis Market (Cannabidiol (CBD)): Value Trends (in Million US$), 2011 & 2018
Figure 20: Global: Medical Cannabis Market Forecast (Cannabidiol (CBD)): Value Trends (in Million US$), 2019-2024
Figure 21: Global: Medical Cannabis Market (Tetrahydrocannabinol (THC)): Value Trends (in Million US$), 2011 & 2018
Figure 22: Global: Medical Cannabis Market Forecast (Tetrahydrocannabinol (THC)): Value Trends (in Million US$), 2019-2024
Figure 23: Global: Medical Cannabis Market (Other Derivatives): Value Trends (in Million US$), 2011 & 2018
Figure 24: Global: Medical Cannabis Market Forecast (Other Derivatives): Value Trends (in Million US$), 2019-2024
Figure 25: Global: Medical Cannabis Market (Application in Cancer): Value Trends (in Million US$), 2011 & 2018
Figure 26: Global: Medical Cannabis Market Forecast (Application in Cancer): Value Trends (in Million US$), 2019-2024
Figure 27: Global: Medical Cannabis Market (Application in Arthritis): Value Trends (in Million US$), 2011 & 2018
Figure 28: Global: Medical Cannabis Market Forecast (Application in Arthritis): Value Trends (in Million US$), 2019-2024
Figure 29: Global: Medical Cannabis Market (Application in Migraine): Value Trends (in Million US$), 2011 & 2018
Figure 30: Global: Medical Cannabis Market Forecast (Application in Migraine): Value Trends (in Million US$), 2019-2024
Figure 31: Global: Medical Cannabis Market (Application in Epilepsy): Value Trends (in Million US$), 2011 & 2018
Figure 32: Global: Medical Cannabis Market Forecast (Application in Epilepsy): Value Trends (in Million US$), 2019-2024
Figure 33: Global: Medical Cannabis Market (Other Applications): Value Trends (in Million US$), 2011 & 2018
Figure 34: Global: Medical Cannabis Market Forecast (Other Applications): Value Trends (in Million US$), 2019-2024
Figure 35: Global: Medical Cannabis Market (End-Use in Pharmaceutical Industry): Value Trends (in Million US$), 2011 & 2018
Figure 36: Global: Medical Cannabis Market Forecast (End-Use in Pharmaceutical Industry): Value Trends (in Million US$), 2019-2024
Figure 37: Global: Medical Cannabis Market (End-Use in Research and Development Centres): Value Trends (in Million US$), 2011 & 2018
Figure 38: Global: Medical Cannabis Market Forecast (End-Use in Research and Development Centres): Value Trends (in Million US$), 2019-2024
Figure 39: Global: Medical Cannabis Market (Other End-Uses): Value Trends (in Million US$), 2011 & 2018
Figure 40: Global: Medical Cannabis Market Forecast (Other End-Uses): Value Trends (in Million US$), 2019-2024
Figure 41: Global: Medical Cannabis Market (Administration through Oral Solutions and Capsules): Value Trends (in Million US$), 2011 & 2018
Figure 42: Global: Medical Cannabis Market Forecast (Administration through Oral Solutions and Capsules): Value Trends (in Million US$), 2019-2024
Figure 43: Global: Medical Cannabis Market (Administration through Smoking): Value Trends (in Million US$), 2011 & 2018
Figure 44: Global: Medical Cannabis Market Forecast (Administration through Smoking): Value Trends (in Million US$), 2019-2024
Figure 45: Global: Medical Cannabis Market (Administration through Vaporizers): Value Trends (in Million US$), 2011 & 2018
Figure 46: Global: Medical Cannabis Market Forecast (Administration through Vaporizers): Value Trends (in Million US$), 2019-2024
Figure 47: Global: Medical Cannabis Market (Administration through Topicals): Value Trends (in Million US$), 2011 & 2018
Figure 48: Global: Medical Cannabis Market Forecast (Administration through Topicals): Value Trends (in Million US$), 2019-2024
Figure 49: Global: Medical Cannabis Market (Other Route of Administration): Value Trends (in Million US$), 2011 & 2018
Figure 50: Global: Medical Cannabis Market Forecast (Other Route of Administration): Value Trends (in Million US$), 2019-2024
Figure 51: North America: Medical Cannabis Market: Value Trends (in Million US$), 2011 & 2018
Figure 52: North America: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2019-2024
Figure 53: United States: Medical Cannabis Market: Value Trends (in Million US$), 2011 & 2018
Figure 54: United States: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2019-2024
Figure 55: Canada: Medical Cannabis Market: Value Trends (in Million US$), 2011 & 2018
Figure 56: Canada: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2019-2024
Figure 57: Europe: Medical Cannabis Market: Value Trends (in Million US$), 2011 & 2018
Figure 58: Europe: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2019-2024
Figure 59: Germany: Medical Cannabis Market: Value Trends (in Million US$), 2011 & 2018
Figure 60: Germany: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2019-2024
Figure 61: Italy: Medical Cannabis Market: Value Trends (in Million US$), 2011 & 2018
Figure 62: Italy: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2019-2024
Figure 63: France: Medical Cannabis Market: Value Trends (in Million US$), 2011 & 2018
Figure 64: France: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2019-2024
Figure 65: Netherlands: Medical Cannabis Market: Value Trends (in Million US$), 2011 & 2018
Figure 66: Netherlands: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2019-2024
Figure 67: Spain: Medical Cannabis Market: Value Trends (in Million US$), 2011 & 2018
Figure 68: Spain: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2019-2024
Figure 69: Latin America: Medical Cannabis Market: Value Trends (in Million US$), 2011 & 2018
Figure 70: Latin America: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2019-2024
Figure 71: Asia Pacific: Medical Cannabis Market: Value Trends (in Million US$), 2011 & 2018
Figure 72: Asia Pacific: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2019-2024
Figure 73: Middle East and Africa: Medical Cannabis Market: Value Trends (in Million US$), 2011 & 2018
Figure 74: Middle East and Africa: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2019-2024
List of Tables
Table 1: Global: Medical Cannabis Market: Key Industry Highlights, 2018 and 2024
Table 2: Global: Medical Cannabis Market Forecast: Breakup by Species (in Million US$), 2019-2024
Table 3: Global: Medical Cannabis Market Forecast: Breakup by Derivative (in Million US$), 2019-2024
Table 4: Global: Medical Cannabis Market Forecast: Breakup by Application (in Million US$), 2019-2024
Table 5: Global: Medical Cannabis Market Forecast: Breakup by End-Use (in Million US$), 2019-2024
Table 6: Global: Medical Cannabis Market Forecast: Breakup by Route of Administration (in Million US$), 2019-2024
Table 7: Global: Medical Cannabis Market Forecast: Breakup by Region (in Million US$), 2019-2024
Table 8: Global: Medical Cannabis Market: Market Structure
Table 9: Global: Medical Cannabis Market: Key Players

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