CMI published an economic research report on “Medical cannabis market: Global industry analysis, size, share, growth, trends and forecasts 2021–2027 ”. Medical cannabis with 100+ market data tables, cake chat, graphs and numbers spread across pages, and easy to understand detailed analysis. The information is collected on the basis of modern cars and inquiries identified with the administrations and objects.
The Medical Cannabis market report presents historical data, current market trends, environment, technological innovation, upcoming technologies, and the technical advancement in the related industry. Medical Cannabis Market offers a complete, knowledgeable report with market research data relevant for new entrants or established players. Key strategies of the companies operating in the market and their impact analysis have been included in the report.
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Medical cannabis, also called medical marijuana, is used either to treat illness or to improve symptoms. The two cannabinoids – delta-9-tetrahydrocannabinol (THC) and cannabidiol (CBD) are used to treat certain illnesses or health conditions such as pain, blood pressure, memory, concentration, appetite, sensory stimuli, muscle problems, and seizures. Various governments are involved in legalizing the export of medical cannabis products, which in turn is intended to fuel the growth of the medical cannabis market. In January 2018, for example, the Australian government allowed cannabis producers in the region to export medical cannabis and cannabis products to the world market.
The global medical cannabis market was estimated at $ 3,520.7 million in 2017 and is expected to show a CAGR of 24.4% over the forecast period (2017-2025).
The legalization of medical cannabis in various economies is expected to spur market growth
The main drivers for the growth of the market include the increasing approval of medical cannabis products and increasing research and development activities. In March 2017, for example, the German Bundestag signed a law that allows the use of cannabis plants. This, in turn, would allow healthcare professionals to prescribe medicinal cannabis products to patients with severe health problems such as chronic pain, vomiting, and nausea.
However, excessive cannabis use leads to tachycardia, which in turn increases the risk of a heart attack, especially for users who already have heart disease or arrhythmias. This is likely to hamper the growth of the market.
Other potential medical cannabis markets other than the United States include Canada, Israel, Australia, Mexico, and Spain. For example, in February 2016 Medical Marijuana, Inc. launched HempMeds Mexico – a CBD hemp oil product in Mexico. With the launch of HempMeds Mexico, the company plans to expand its cannabis business in Latin America. Other economies are expected to consider legalizing the drug as soon as there is conclusive evidence of cannabis’ safety and efficacy through extensive research. The Czech Republic legalized medical marijuana in 2013 for patients suffering from chronic pain, epilepsy, chemotherapy-induced side effects, and other serious disease indications. In addition, the law allows marijuana-prescription patients to purchase medical marijuana from pharmacies. However, the cultivation of marijuana is not allowed in the country and therefore suppliers must import medical cannabis from other economies.
In the Middle East, only Israel among the GCC economies has approved the medicinal cannabis product. In addition, the governments of Lesotho and Malawi licensed medical marijuana in Africa in 2017. For example, in June 2017, Verve Dynamics, a Cape Town-based alternative medicine company, received a license from the Lesotho government to grow cannabidiol (CBD.). ) medical cannabis. Verve Dynamics intends to grow and manufacture medicinal cannabis products and export these products to South Africa.
The expansion of medical cannabis products from various manufacturers is an important factor in the market growth
Medical cannabis manufacturers in the United States are actively focused on expanding their medical cannabis products business. For example, in July 2016, Insys Therapeutics, Inc. received FDA approval for Dronabinol oral solution Syndros, an orally administered liquid formulation of the pharmaceutical cannabinoid dronabinol. The syndros is indicated for the treatment of anorexia associated with weight loss in patients with AIDS and cancer, chemotherapy-induced nausea and vomiting. In addition, Apria, Inc. entered into a distribution agreement with Cannabis Wheaton in January 2018 for the supply of 60,000 kilograms of the cannabis products between January 2018 and February 2022. The agreement enables Aphria to grow its brand through Cannabis Wheaton’s strong distribution network in Canada.
Major players in the global medical cannabis market include BOL Pharma, Tilray, Medreleaf Corporation, Aurora Cannabis, Inc., Canopy Growth Corporation, Insys Therapeutics, Inc., Aphria, Inc., MGC Pharmaceuticals Limited, GW Pharmaceuticals, plc. and Medical Marijuana Inc.
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Key points in the table of contents of the Medical Cannabis Market report
Chapter 1 Industry Overview
1.3 Scope of research
1.4 Market analysis by region
1.5 Medical Cannabis Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Impact on the Medical Cannabis Industry
Chapter 2 Medical cannabis competition by types, uses, and top regions and countries
2.1 Medical cannabis (volume and value) by type
2.3 Medical cannabis (volume and value) by region
Chapter 3 Production market analysis
3.1 Production market analysis
3.2 Regional production market analysis
Chapter 4 Sales, Consumption, Export, Import of Medical Cannabis by Region (2016-2021)
Chapter 5 Medical cannabis market analysis in North America
Chapter 6 Medical cannabis market analysis in East Asia
Chapter 7 Medical cannabis market analysis in Europe
Chapter 8 Medical cannabis market analysis in South Asia
Chapter 9 Medical cannabis market analysis in Southeast Asia
Chapter 10 Medical cannabis market analysis in the Middle East
Chapter 11 Medical cannabis market analysis in Africa
Chapter 12 Oceania medical cannabis market analysis
Chapter 13 Medical cannabis market analysis in South America
Chapter 14 Company profiles and metrics in the medical cannabis business
Chapter 15 Medical Cannabis Market Forecast (2021-2027)
Chapter 16 Conclusions
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