The Mexico medical cannabis market size was estimated at nearly USD 273.77 million in 2023 and expected to grow at a CAGR of 46.7% over the forecast period of 2024-2032 to reach USD 8,590.25 million by 2032.
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The growing acceptance of medical cannabis to treat chronic circumstances like cancer, neurological diseases, and chronic pain is the main factor driving for the industry for medical cannabis in Mexico.
Cannabis or marijuana is a psychoactive drug, which is derived from the cannabis plant, which is further used for medical purposes. The Mexico medical cannabis market can be divided based on segments like products and applications.
The industry can be divided based on its products as:
The industry can be broadly categorised based on its application into:
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Due to the significant population and patient pool, medical cannabis is anticipated to emerge as one of the most profitable enterprises to enter Mexico in the coming years. Different research studies have demonstrated the potential benefits of cannabis in cancer treatment, thus increasing its demand for cancer therapy. The growing burden of disease and the increasing cannabis use for medical purposes are anticipated to drive the demand for the product over the forecast period. The oil segment is anticipated to emerge as the fastest growing segment by 2026.
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The report presents a detailed analysis of the following key players in the Mexico medical cannabis market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
*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.*
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The Mexico medical cannabis market reached a value of USD 273.77 million in 2023.
The market is expected to grow at a CAGR of about 46.7% in the forecast period of 2024-2032.
The market is expected to expand in the forecast period to reach USD 8,590.25 million by 2032.
The major drivers of the market include the rising disposable incomes and the growing acceptance of medical cannabis to treat chronic circumstances like cancer, neurological diseases, and chronic pain.
The rising awareness regarding the benefits of cannabis for medical purposes and the increasing burden of diseases in the country are key trends guiding the market.
The major product segments in the market are buds, oils, and tinctures.
The significant applications of medical cannabis in the market include chronic pain, mental disorders, and cancer, among others.
The major players in the market are Sartorius de México S.A. de C.V. (Sartorius AG), Aurora Cannabis Inc., GW Pharmaceuticals, plc, Canopy Growth Corporation, HempMeds, CV Sciences, Inc., Endoca B.V., Isodiol International, Inc., CBD Life, and PharmaCielo, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Application |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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Australia
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+61-448-061-727
India
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+91-858-608-1494
Philippines
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+63-287-899-028, +63-967-048-3306
United Kingdom
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+44-753-713-2163
United States (Head Office)
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+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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