Marijuana Market- Therapeutic Applications Of The Drug Is One Of The Key Factors that Impacting On Growth Forecast To 2025
The increasing interest amongst the academic researchers and healthcare providers regarding the therapeutic uses of marijuana is among the significant factors, which is driving the market over the coming years. Some of its potential therapeutic values are suppression of vomiting & nausea, pain relief, and appetite stimulation. In addition, research states that marijuana is effective in providing relief to the patient suffering from HIV/AIDS, glaucoma, cancer, and multiple sclerosis. The growing number of therapeutic applications of the drug is one of the key factors that is propelling the market over the forecast period.
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It has been identified that, in 2016, Washington D.C. along with 28 states have legalized marijuana for medical uses. In 2016, states such as Arkansas, Florida, North Dakota, Ohio, and Pennsylvania were approved to use the drug in medical applications such as chemotherapies and pain management. The growing number of states and countries getting approval for using it in therapeutic applications is one of the crucial factors driving the demand over the coming few years.
The presence of several regulatory frameworks such as the Medical Marijuana Regulation and Safety Act is indicators of the present demand for the drug in the market. The regulatory framework requires every individual or the company associated such as growers, retail operators, and makers of processed pot products to obtain permission and an annual state license from 2018. An increasing number of issued licenses are also among factors that are expected to drive the market especially after 2018.
Major Industry Player’s
Cara Therapeutics, Cannabis Sativa, CannaGrow Holdings, United Cannabis, Growblox Sciences, GreenGro Technologies, GW Pharmaceuticals, Lexaria Corp, MMJ America, Medicine Man, Canopy
Growth, Aphria, Aurora Cannabis Inc., mCig Inc
Application Coverage (Market Size & Forecast, Different Demand Market by Region, Main Consumer Profile etc.):
Chronic Pain, Arthritis, Migraine, Cancer, Others
Region Coverage (Regional Output, Demand & Forecast by Countries etc.):
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
• Asia-Pacific (China, India, Japan, Southeast Asia etc.)
• South America (Brazil, Argentina etc.)
• Middle East & Africa (Saudi Arabia, South Africa etc.)
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