Medical Cannabis Market Trends, Share, Opportunities and Forecast By 2030
The use of established statistical tools and coherent models for analysis and forecasting of market data makes Medical Cannabis business report outshining. This global market research report is a proven source to gain valuable market insights and take better decisions about the important business strategies. The report also presents a profound overview of product specification, technology, applications, product type and production analysis considering major factors such as revenue, cost, gross and gross margin about Pharmaceutical industry. An international Medical Cannabis report indicates a professional and all-inclusive study of the market which focuses on primary and secondary drivers, market share, competitor analysis, leading segments and geographical analysis.
Data Bridge Market Research analyzes that the global medical cannabis market is expected to grow at a CAGR of 22.8% during the forecast period of 2023 to 2030.
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Cannabis is a psychoactive drug that is derived from the cannabis plant of the Cannabaceae family. For several years, it has been used medicinally and has a wide range of applications in the treatment of various diseases including chronic pain, cancer, depression, diabetes, arthritis, glaucoma, epilepsy, migraines, AIDS, and Alzheimer’s among others.
Global Medical Cannabis Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail as below:
Drivers
Increased use of cannabis in medicines
Medicinal cannabis is derived from cannabis plants and can be used to treat symptoms of certain medical conditions, and the side effects of some treatments. The most common form of medicinal use of cannabis is pain management. There has been gradual acceptance and use of medicinal cannabis with the growing number of countries that have legalized the use of cannabis for various indications. Medical cannabis has been approved for use by the FDA for three indications which are rare and severe forms of epilepsy, Dravet syndrome, and Lennox-Gastaut syndrome and also to treat the spasticity in Multiple Sclerosis (MS).
Some of the major market players operating in this market are MediPharm Labs Inc., Tilray, Aurora Cannabis, JAZZ Pharmaceuticals Inc. (GW Pharmaceuticals plc), HEXO Corp. (Zenabis Global Ltd), Cresco Labs, Peace Naturals Project Inc., CANOPY GROWTH CORPORATION, Medical Marijuana, Inc., Seed Cellar, EcoGen Biosciences, CANNABIS SEEDS USA, Seeds For Me, HUMBOLDT SEED COMPANY, Extractas, World Class Cannabis Seeds (Crop King Seeds), BARNEY'S FARM, FOLIUM BIOSCIENCES, PharmaHemp, Elixinol Global Limited, ENDOCA, Harmony, MARY’S nutritionals, LLC, Pure Ratios, Greenwich Biosciences, Inc., Upstate Elevator Supply Co., Apothecanna, BOL Pharma, and IDT Australia among others.
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