Mexico Medical Cannabis Market Size, Share And Trends Analysis...

Mexico Medical Cannabis Market Size, Share And Trends Analysis Report

Postado 2025-02-21 08:09:55

The Mexico medical cannabis market size is expected to reach USD 117.7 million by 2030. It is projected to grow at a CAGR of 20% between 2023 and 2030, as per a new report by Grand View Research, Inc.Favorable government policies are projected to boost the acceptance of cannabis-derived products in the next years. This is the main factor driving the growth of the market.

In addition, the industry is likely to benefit from an increase in user acceptance of Cannabidiol (CBD) due to its numerous health benefits. CBD is being utilized to treat a growing number of chronic ailments. In light of recent regulations being set around the use, production, as well as sale of cannabis specifically for use in medicinal purposes, will aid in the monitoring of products entering the supply chain while also allowing the government to benefit from taxes collected through these products.

Due to the high population density and a big patient pool, medical cannabis is likely to become one of the most profitable industries in Mexico in the coming years. As per WHO, in 2020, 195,499 new cases of cancer were detected in Mexico. Various research studies have demonstrated CBD’s potential benefits in nausea suppressing quality of cancer, resulting in an increase in its use in cancer patients. Chronic pain due to a variety of diseases and conditions as well as old age has been on the rise in the past few years, medical cannabis has been studied extensively in reducing the perception of pain.

Extracts from the plant in form of oil, like CBD oil has been on the market around the world, for quite some time and is increasingly being seen as an alternative treatment for chronic pain. The Global Pain Index study, conducted by GSK in 2020, studied 1,000 individuals each, from 19 countries, the data collected revealed, that pain prevalence among Mexican individuals is nearly 98%. Due to legalization, it has become easier for patients as well as medical practitioners to prescribe it for chronic pain and hence has resulted in the growth of the medical cannabis market in Mexico.

Gather more insights about the market drivers, restrains and growth of the Mexico Medical Cannabis Market

Mexico Medical Cannabis Market Report Highlights

• The marketis anticipated to witness steady growth over the forecast period as medical cannabis is being utilized to treat a growing number of chronic ailments

• Flowers, in the product category emerged as the largest segment in 2022 due to their price and easy availability

• Chronic pain had the highest revenue share based on application, owing to the fast use of CBD as an alternative to opioids and synthetic medications for the treatment of chronic pain