Medical Cannabis Market Demand, Trends and Business Opportunities 2023-2028

Author: Elena Anderson

Marketing Manager

Report DescriptionAbout IMARC Group

International Market Analysis Research and Consulting Group is a leading adviser on management strategy and market research worldwide. We partner with clients in all regions and industry verticals to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and markets with close cooperation at all levels of the client organization. This ensures that our clients achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting results.

Global Medical Cannabis Market Research Report 2023-2028:

As per the latest research report by IMARC Group, titled “ Medical Cannabis Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2 023-2028

”, the global medical cannabis market reached a value of US$ 31.8 Billion in 2022.

Medical cannabis is obtained from the Cannabis Sativa and Cannabis Indica plants. It contains three major active compounds namely, Cannabidiol (CBD), Tetrahydrocannabinol (THC) and Cannabinol (CBN). As compared to recreational cannabis, medical cannabis has a lower amount of THC and a higher count of CBD which provides therapeutic advantages to patients and aids in retaining antipsychotic effects. This plant-based drug is gradually gaining acceptance in the pharmaceutical industry as it helps in improving the mood, immune function and vascular health. It is now used for curing anxiety, nausea, depression, chronic pain and side effects of multiple sclerosis, epilepsy, PTSD and Parkinson’s disease. It is prescribed in different forms like vapor, oral capsules, topical solutions, creams and balms.

Request for a PDF sample of this report: https://www.imarcgroup.com/medical-cannabis-market/requestsample

Global Off-the-Road Tire Market Trends:

In comparison with other treatment alternatives, cannabis is safer and has less severe side effects. Owing to this, it is utilized in combination with other treatments to either combat side effects or to increase their effectiveness. For instance, it is used along with traditional opioid painkillers which enable patients to reduce the frequency and dosage of opioids gradually. Additionally, a steadily aging population is playing a vital role in spurring the demand for medical cannabis as geriatric patients are more likely to develop chronic diseases and require frequent physician visits. Apart from this, manufacturers are investing in R&D activities and clinical trials to develop safer forms of cannabis. Further legalization of medical marijuana is anticipated to drive the market growth globally.

As a result of these factors, the market is expected to grow at a CAGR of 8.47% during 2023-2028, reaching a value of US$ 57.4 Billion by 2028.

View Report TOC, Figures and Tables: https://www.imarcgroup.com/medical-cannabis-market

Report Description Report Description and Highlights

Key Market Segmentation

The research report includes the following segments:

Breakup by Species:

• Indica

• Sativa

• Hybrid

Breakup by Derivatives:

• Cannabidiol (CBD)

• Tetrahydrocannabinol (THC)

• Others

Breakup by Application:

• Cancer

• Arthritis

• Migraine

• Epilepsy

• Others

Breakup by End-Use:

• Pharmaceutical Industry

• Research and Development Centres

• Others

Breakup by Route of Administration:

• Oral Solutions and Capsules

• Vaporizers

• Topicals

• Others

Breakup by Region:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East and Africa

Report Description Report Description and Highlights

Competitive Landscape with Key Players:

• Canopy Growth Corporation

• GW Pharmaceuticals, plc

• Aurora Cannabis, Inc.

• Aphria, Inc.

• MedReleaf Corporation

• Insys Therapeutics, Inc.

• CanniMed Therapeutics, Inc.

• Cara Therapeutics, Inc.

• United Cannabis Corporation

1. What was the size of the global medical cannabis market in 2022?

2. What is the expected growth rate of the global medical cannabis market during 2023-2028?

3. What are the key factors driving the global medical cannabis market?

4. What has been the impact of COVID-19 on the global medical cannabis market?

5. What is the breakup of the global medical cannabis market based on the species?

6. What is the breakup of the global medical cannabis market based on the derivatives?

7. What is the breakup of the global medical cannabis market based on the application?

8. What is the breakup of the global medical cannabis market based on end-use?

9. What is the breakup of the global medical cannabis market based on the route of administration?

10. What are the key regions in the global medical cannabis market?

11. Who are the key players/companies in the global medical cannabis market?

Click here to visit the complete table of content with list of figures and tables: https://www.imarcgroup.com/medical-cannabis-market/toc

A partial List of our Clients

Partial List of Clients

We are the trusted business partners to the world's leading corporates, governments, and institutions

A partial List of our Clients

Partial List of Clients

We are the trusted business partners to the world's leading corporates, governments, and institutions

Report Description Report Description and Highlights

© 2022 IMARC All Rights Reserved

This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC).

Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication.

IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.