Global Medical Cannabis Market Opportunities, Size, Share, Growth Factors, Regional And Competitive Landscape Forecast To 2028  

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The global medical cannabis market value was US$ 8,926.6 million in 2020 and is expected to amass US$ 49,116.4 million by 2028. It is anticipated to rise at a CAGR of 23.9% during the forecast period 2021–2028. The global medical cannabis market is rising due to the increasing number of approvals for medical cannabis products, growing research on the medicinal use of cannabis, mounting government funding for spreading awareness about the benefits of medicinal cannabis, and many other factors.

The List of Companies

  • Aphria, Inc (US)
  • Aurora Cannabis (Canada)
  • Cannabis Science, Inc (US)
  • Canopy Growth Corporation (Canada)
  • Medical Marijuana, Inc (US)
  • VIVO Cannabis Inc (Canada)
  • Tikun Olam (Israel)
  • Tilray (US)
  • The Cronos Group (Canada)
  • CANVORY (Austria)

The research provides answers to the following key questions:

  1. What is the estimated growth rate of the market for the forecast period 2022–2028? What will be the market size during the estimated period?
  2. What are the key driving forces responsible for shaping the fate of the Global Medical Cannabis Market during the forecast period?
  3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Global Medical Cannabis Market?
  4. What are the prominent market trends influencing the development of the Global Medical Cannabis Market across different regions?
  5. What are the major threats and challenges likely to act as a barrier in the growth of the Global Medical Cannabis Market?
  6. What are the major opportunities the market leaders can rely on to gain success and profitability?

The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Global Medical Cannabis Market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Global Medical Cannabis Market segments and regions.

Segments-

Based on product type, the medical cannabis market is segmented into flower, concentrates, cannabis oil and topical ointments, capsules, tablets, and beverages and edibles. In 2020, the flowers segment accounted for the largest market share of the global medical cannabis market. The cannabis flowers are resinous whose buds can be processed into pharmaceutical-grade drugs by extracting active cannabinoids. Moreover, various products such as elixirs, tinctures, salves, poultices, creams, and other formulations can be made from the flowering tops for external and internal ailment. Also, the highest level of cannabinoids is found in flowers, thus, it is likely to have the largest market share. However, the beverages and edibles segment is likely to grow faster during the forecast period, owing to higher amounts of the active ingredient in cannabis – THC, in edibles like chocolate bars, gummy bears, and cookies.

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Global Medical Cannabis Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

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