Medical Marijuana Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
- Transparency Market Research
Cannabis sativa, Cannabis indica, and Cannabis ruderalis are referred as cannabis or marijuana and used for medicinal, recreational, and ritualistic purposes. According to the United Nations Convention on Narcotic Drugs, 1961, cannabis can be defined as the fruiting or flowering tops of the cannabis plant from which the resin has not been extracted. The term medical marijuana refers to the basic extracts or whole unprocessed marijuana plant, which is used to treat certain illness or conditions. However, the marijuana plant has not been approved or recognized as medicinal by the Food and Drug Administration (FDA) due to the lack of efficient large-scale efficient clinical trials. However, studies on chemicals in cannabis or marijuana known as cannabinoids has led to availability of two FDA-approved medication pills containing this chemical or extract. Cannabis plant contains about 104 different cannabinoids and around 750 different chemicals. THC (delta-9-tetrahydrocannabinol), CBD (cannabidiol), and CBN (cannabinol), are the primary cannabinoids in the plant.
The global medical marijuana market holds an immense potential and is anticipated to grow at a significant CAGR during the forecast period. Continuous research and development to provide efficient therapeutic intervention for a host of diseases and symptoms is projected to boost the growth of the medical marijuana market. Several chemicals or extracts obtained from marijuana are in clinical phase. Marijuana testing is another major factor expected to propel the medical marijuana market in the near future. Rise in the number of countries approving the use of the product for therapeutic application such as pain management in cancer and HIV/AIDS patients, appetite stimulant, and decreasing nausea is projected to drive the global medical marijuana market. Rising recreational and personal use of marijuana and stringent regulatory laws are expected to restrain the market during the forecast period.
The global medical marijuana market can be segmented based on application, end-user, and region. In terms of application, the global medical marijuana market can be categorized into oncology, arthritis, chronic pain, neurology, and others. Rising chronic pain disorders is expected to fuel the growth of the market during the forecast period. Based on end-user, the market can be divided into hospitals, research and academic institutes, and others.
Geographically, the global medical marijuana market can be divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is anticipated to dominate the global medical marijuana market in terms of revenue. Legalization of cannabis for medicinal and recreational use in the region and approval of the drugs for therapeutic application are fuelling the growth of the medicinal marijuana market in North America. Asia Pacific is anticipated to grow at a rapid pace during the forecast period. Growth of the market in the region is attributed to increasing approval of medical marijuana and high R&D investment in cancer research.
Key players operating in the global medical marijuana market are Pfizer, Inc., Teva Pharmaceuticals USA, Inc., Novartis International AG, Canopy Growth Corporation, Inc., CannaGrow Holdings, Inc., AbbVie, Inc, GW Pharmaceuticals, plc., and Insys Therapeutics, Inc., among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Have query on this report?Make an Enquiry
The team was the biggest help to us. Not only were we provided with customized solutions but also we were guided through the most complicated situations. The information was on-point yet comprehensive. The experience was absolutely satisfying and helped us turn many challenges into opportunities.
Ours is a startup with a unique set of challenges and we were therefore hesitant but the team totally put us at ease with their knowledge and expertise. Our business and its challenges were understood perfectly and help was extended accordingly. The tailor made approach really helped us gain the most informative insights.
The report repository is absolutely impressive –updated and exhaustive in terms of markets covered and information provides. Besides, with the support extended to us by the team, we could reduce costs as well as move to sustainable growth. This really helped us tap into new opportunities. Happy to have gone ahead with ResearchMos.us.
We have had a long term engagement with ResearchMoz.us and never have we felt that the work done and help extended were below flawless. The report repository is one of the best one can hope to tap into. Recently, our partner businesses opted for consultancy services and they are all thrilled with the outcome.
Insights from reports helped us improve our profit margins significantly. Most of the knowledge we needed on the market were provided to us on a granular basis. From trends, and drivers to competitive analysis, the information was not just crisp but also insightful. That helped us chart a robust growth strategy and as of now we are happy to state that we are reaping big benefits.
More from Pharmaceutical
PharmaceuticalChinese Markets for Mental Illness Drugs
PharmaceuticalChinese Markets for Anti-Dermatomycosis Skin Drugs
PharmaceuticalChinese Markets for Incretion Drugs
PharmaceuticalChinese Markets for Hypertension Drugs
Pharmaceuticals and HealthcareGlobal Bionic Ears Market Professional Survey Report 2017
Pharmaceuticals and HealthcareNeuropsychiatric Disorder Cluster Drug Development Pipeline Review, 2017
Pharmaceuticals and HealthcareHepatitis Drug Development Pipeline Review, 2017