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The global medical cannabis market was valued at USD 10.2 billion in 2023, driven by the increased legalization of cannabis across the globe. The market size is anticipated to grow at a CAGR of 24% during the forecast period of 2024-2032 to achieve a value of USD 70.7 billion by 2032.
Medical Cannabis Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Medical Cannabis Market Overview
3.1 Global Medical Cannabis Market Historical Value (2016-2022)
3.2 Global Medical Cannabis Market Forecast Value (2023-2031)
4 Global Medical Cannabis Market Landscape
4.1 Global Medical Cannabis Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Medical Cannabis Product Landscape
4.2.1 Analysis by Disease Type
4.2.2 Analysis by Product Type
5 Global Medical Cannabis Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Medical Cannabis Market Segmentation
6.1 Global Medical Cannabis Market by Product Type
6.1.1 Market Overview
6.1.2 Buds/Marijuana Flower
6.1.3 Cannabis Extracts
6.2 Global Medical Cannabis Market by Application
6.2.1 Market Overview
6.2.2 Chronic Pain
6.2.3 Mental Disorders
6.2.4 Cancer
6.2.5 Others
6.3 Global Medical Cannabis Market by End User
6.3.1 Market Overview
6.3.2 Pharmaceutical
6.3.3 Research and Development Centres
6.4 Global Medical Cannabis Market by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Medical Cannabis Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Medical Cannabis Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Medical Cannabis Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Medical Cannabis Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Medical Cannabis Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Regulatory Framework
12.1 Regulatory Overview
12.1.1 US FDA
12.1.2 EU EMA
12.1.3 INDIA CDSCO
12.1.4 JAPAN PMDA
12.1.5 Others
13 Supplier Landscape
13.1 Aurora marijuana Inc.
13.1.1 Financial Analysis
13.1.2 Product Portfolio
13.1.3 Demographic Reach and Achievements
13.1.4 Mergers and Acquisitions
13.1.5 Certifications
13.2 Canopy Growth Corporation
13.2.1 Financial Analysis
13.2.2 Product Portfolio
13.2.3 Demographic Reach and Achievements
13.2.4 Mergers and Acquisitions
13.2.5 Certifications
13.3 Cronos Group Inc
13.3.1 Financial Analysis
13.3.2 Product Portfolio
13.3.3 Demographic Reach and Achievements
13.3.4 Mergers and Acquisitions
13.3.5 Certifications
13.4 Medical Marijuana, Inc.
13.4.1 Financial Analysis
13.4.2 Financial Portfolio
13.4.3 Demographic Reach and Achievements
13.4.4 Mergers and Acquisitions
13.4.5 Certifications
13.5 OrganiGram Holding Inc.
13.5.1 Financial Analysis
13.5.2 Product Portfolio
13.5.3 Demographic Reach and Achievements
13.5.4 Mergers and Acquisitions
13.5.5 Certifications
13.6 Terra Tech Corp.
13.6.1 Financial Analysis
13.6.2 Product Portfolio
13.6.3 Demographic Reach and Achievements
13.6.4 Mergers and Acquisitions
13.6.5 Certifications
13.7 Tikun Olam Ltd.
13.7.1 Financial Analysis
13.7.2 Product Portfolio
13.7.3 Demographic Reach and Achievements
13.7.4 Mergers and Acquisitions
13.7.5 Certifications
13.8 Tilray, Inc.
13.8.1 Financial Analysis
13.8.2 Product Portfolio
13.8.3 Demographic Reach and Achievements
13.8.4 Mergers and Acquisitions
13.8.5 Certifications
13.9 VIVO Cannabis Inc.
13.9.1 Financial Analysis
13.9.2 Product Portfolio
13.9.3 Demographic Reach and Achievements
13.9.4 Mergers and Acquisitions
13.9.5 Certifications
13.10 Medmen Enterprise Inc.
13.10.1 Financial Analysis
13.10.2 Product Portfolio
13.10.3 Demographic Reach and Achievements
13.10.4 Mergers and Acquisitions
13.10.5 Certifications
13.11 Stenocare
13.11.1 Financial Analysis
13.11.2 Product Portfolio
13.11.3 Demographic Reach and Achievements
13.11.4 Mergers and Acquisitions
13.11.5 Certifications
13.12 Trulieve
13.12.1 Financial Analysis
13.12.2 Product Portfolio
13.12.3 Demographic Reach and Achievements
13.12.4 Mergers and Acquisitions
13.12.5 Certifications
13.13 GW Pharmaceuticals plc.
13.13.1 Financial Analysis
13.13.2 Product Portfolio
13.13.3 Demographic Reach and Achievements
13.13.4 Mergers and Acquisitions
13.13.5 Certifications
13.14 Cannabis Sativa, Inc.
13.14.1 Financial Analysis
13.14.2 Product Portfolio
13.14.3 Demographic Reach and Achievements
13.14.4 Mergers and Acquisitions
13.14.5 Certifications
14 Global Medical Cannabis Market - Distribution Model (Additional Insight)
14.1 Overview
14.2 Potential Distributors
14.3 Key Parameters for Distribution Partner Assessment
15 Key Opinion Leaders (KOL) Insights (Additional Insight)
16 Company Competitiveness Analysis (Additional Insight)
16.1 Very Small Companies
16.2 Small Companies
16.3 Mid-Sized Companies
16.4 Large Companies
16.5 Very Large Companies
17 Payment Methods (Additional Insight)
17.1 Government Funded
17.2 Private Insurance
17.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
The market attained a value of about USD 10.2 billion in 2023, driven by the increasing commercialization.
The market is anticipated to grow at a CAGR of 24% during the forecast period of 2024-2032, likely to reach a market value of USD 70.7 billion by 2032.
The expanding application in multiple fields and the rising prevalence of medical conditions requiring immediate pain relief are among the major factors driving the market growth.
The market growth is influenced by a major trend including growing acceptance of the substance by potential consumers.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America is currently leading the global market.
Cannabis products available in the market include buds/marijuana flowers and cannabis extracts.
It finds wide applications in chronic pain, mental disorders, and cancer, among others.
The market operates through pharmaceutical, research and development centres.
Key players involved in the market are Aurora marijuana Inc., Canopy Growth Corporation, Cronos Group Inc, Cannabis Sativa, Inc., Inc., OrganiGram Holding Inc., Terra Tech Corp., Tikun Olam Ltd., Tilray, Inc., VIVO Cannabis Inc., Medmen Enterprise Inc., Stenocare, Trulieve, GW Pharmaceuticals plc., and Medical Marijuana.
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