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Medical Cannabis Trends and Forecast
The future of the global medical cannabis market looks promising with opportunities in the pharmaceutical and research & development center markets. The global medical cannabis market is expected to reach an estimated $19.5 billion by 2030 with a CAGR of 16.8% from 2024 to 2030. The major drivers for this market are increasing legalization and acceptance of medical cannabis, growing awareness of the therapeutic benefits of medical cannabis, and technological advancements in the cultivation and processing of medical cannabis.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Medical Cannabis by Segment
The study includes a forecast for the global medical cannabis by product type, application, end use, and region.
Medical Cannabis Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:
• Buds/Marijuana Flower
• Cannabis Extracts
Medical Cannabis Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Chronic Pain
• Mental Disorders
• Cancer
• Others
Medical Cannabis Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Pharmaceutical
• Research & Development Centers
Medical Cannabis Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Medical Cannabis Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies medical cannabis companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the medical cannabis companies profiled in this report include-
• Tikun Olam
• Terra Tech
• Aurora marijuana
• Tilray
• Medical Marijuana
• VIVO Cannabis
• Canopy Growth
• Maricann
• Cronos
• OrganiGram
Medical Cannabis Market Insights
Lucintel forecasts that cannabis extract is expected to witness the highest growth over the forecast period due to rise in preference for cannabis extracts such as oils and tinctures, legalization of marijuana for treatment of various chronic diseases, and new launches of cannabis extract products.
APAC is expected to witness highest growth over the forecast period due to growth in the use of medical cannabis in research and development for the purpose of drug discovery, an increase in the prevalence of chronic illnesses like cancer and osteoarthritis, and a rise in public knowledge of the advantages of medical cannabis.
Features of the Global Medical Cannabis Market
Market Size Estimates: Medical cannabis market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Medical cannabis market size by product type, application, end use, and region in terms of value ($B).
Regional Analysis: Medical cannabis market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different product type, application, end use, and regions for the medical cannabis market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the medical cannabis market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the medical cannabis market size?
Answer: The global medical cannabis market is expected to reach an estimated $19.5 billion by 2030.
Q2. What is the growth forecast for medical cannabis market?
Answer: The global medical cannabis market is expected to grow with a CAGR of 16.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the medical cannabis market?
Answer: The major drivers for this market are increasing legalization and acceptance of medical cannabis, growing awareness of the therapeutic benefits of medical cannabis, and technological advancements in the cultivation and processing of medical cannabis.
Q4. What are the major segments for medical cannabis market?
Answer: The future of the global medical cannabis market looks promising with opportunities in the pharmaceutical and research & development center markets.
Q5. Who are the key medical cannabis market companies?
Answer: Some of the key medical cannabis companies are as follows:
• Tikun Olam
• Terra Tech
• Aurora marijuana
• Tilray
• Medical Marijuana
• VIVO Cannabis
• Canopy Growth
• Maricann
• Cronos
• OrganiGram
Q6. Which medical cannabis market segment will be the largest in future?
Answer: Lucintel forecasts that cannabis extract is expected to witness the highest growth over the forecast period due to rise in preference for cannabis extracts such as oils and tinctures, legalization of marijuana for treatment of various chronic diseases, and new launches of cannabis extract products.
Q7. In medical cannabis market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to growth in the use of medical cannabis in research and development for the purpose of drug discovery, an increase in the prevalence of chronic illnesses like cancer and osteoarthritis, and a rise in public knowledge of the advantages of medical cannabis.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the medical cannabis market by product type (buds/marijuana flower and cannabis extracts), application (chronic pain, mental disorders, cancer, and others), end use (pharmaceutical and research & development centers), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Medical Cannabis Market, Medical Cannabis Market Size, Medical Cannabis Market Growth, Medical Cannabis Market Analysis, Medical Cannabis Market Report, Medical Cannabis Market Share, Medical Cannabis Market Trends, Medical Cannabis Market Forecast, Medical Cannabis Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Medical Cannabis Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Medical Cannabis Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Medical Cannabis Market by Product Type
3.3.1: Buds/Marijuana Flower
3.3.2: Cannabis Extracts
3.4: Global Medical Cannabis Market by Application
3.4.1: Chronic Pain
3.4.2: Mental Disorders
3.4.3: Cancer
3.4.4: Others
3.5: Global Medical Cannabis Market by End Use
3.5.1: Pharmaceutical
3.5.2: Research & Development Centers
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Medical Cannabis Market by Region
4.2: North American Medical Cannabis Market
4.2.2: North American Medical Cannabis Market by End Use: Pharmaceutical and Research & Development Centers
4.3: European Medical Cannabis Market
4.3.1: European Medical Cannabis Market by Product Type: Buds/Marijuana Flower and Cannabis Extracts
4.3.2: European Medical Cannabis Market by End Use: Pharmaceutical and Research & Development Centers
4.4: APAC Medical Cannabis Market
4.4.1: APAC Medical Cannabis Market by Product Type: Buds/Marijuana Flower and Cannabis Extracts
4.4.2: APAC Medical Cannabis Market by End Use: Pharmaceutical and Research & Development Centers
4.5: ROW Medical Cannabis Market
4.5.1: ROW Medical Cannabis Market by Product Type: Buds/Marijuana Flower and Cannabis Extracts
4.5.2: ROW Medical Cannabis Market by End Use: Pharmaceutical and Research & Development Centers
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Medical Cannabis Market by Product Type
6.1.2: Growth Opportunities for the Global Medical Cannabis Market by Application
6.1.3: Growth Opportunities for the Global Medical Cannabis Market by End Use
6.1.4: Growth Opportunities for the Global Medical Cannabis Market by Region
6.2: Emerging Trends in the Global Medical Cannabis Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Medical Cannabis Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Medical Cannabis Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Tikun Olam
7.2: Terra Tech
7.3: Aurora marijuana
7.4: Tilray
7.5: Medical Marijuana
7.6: VIVO Cannabis
7.7: Canopy Growth
7.8: Maricann
7.9: Cronos
7.10: OrganiGram
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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