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Medical Cannabis Market to reach USD 23.3 Billion by 2023 End
Medical Cannabis Market
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North America region holds the highest market share in 2017 and Europe market is considered as the fastest growing market in the forecasted period due to growing demand in the healthcare industry and technological advancements. At a country level, U.S & Canada is projected to grow strongly in the coming years.
Canopy Growth Corporation (Canada), Medical Cannabis, Inc. (U.S), GW Pharmaceuticals, plc (U.K), United Cannabis (U.S), Cannabis Sativa, Inc. (U.S), Green Gro Technologies (U.S), Aurora Cannabis (Canada), Cara Therapeutics (U.S) and GB Sciences, Inc. (U.S) are the key players in the Global Medical Cannabis market. Better global reach at an operational level is the main reason the key players are holding substantial market share. Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in the last 5 years.
Drivers:
• The expansion of Cannabis legalization in the U.S.
Restraints:
• The stigma of Cannabis in society
• Lack of federal support
Opportunities:
• Cannabis as healthcare treatment
Challenges:
• Legal Issues
The segmentation is done on the basis of Type of Cannabis, by chemical component, by application, by end-use, and by region. On the basis of Product Type, the Sativa segment is expected to hold the highest market share during the forecast period due to growing awareness and high demand. The segmentation is done on the basis of Chemical Component the Tetrahydrocannabinol (THC) segment is expected to hold the highest market share.
Medical Cannabis Industry on the basis of application in this report includes Cancer, Arthritis, and Alzheimer’s, Pain Management, Multiple Sclerosis, and Others. Pain Management segment holds the largest share and it is also the fastest growing with the CAGR of XX% in the forecasted period.
The segmentation done on the basis of end use includes hospital, pharmaceutical industry and research and development centers of which the pharmaceutical industry segment is expected to hold the highest market share during the forecast period.
Key Benefits for Stakeholders
• Medical Cannabis Manufacturers, Distributors and Retailers
• Raw material suppliers
• Research and Consulting Organization
• Medical and, R&D and healthcare institutions
By Product Type
• Sativa
• Indica
• Hybrid
By Chemical Component
• Tetrahydrocannabinol (THC)
• Cannabidiol (CBD)
• Hybrid (Combination of THC & CBD)
By Application
• Cancer
• Arthritis
• Alzheimer’s
• Pain Management
• Multiple Sclerosis
• Others
By End-User
• Hospitality
• Pharmaceutical Industry
• Research and Development Centers
By Region
• North America
• Europe
• Asia-Pacific
• RoW
Key Market Players
• Canopy Growth Corporation
• GW Pharmaceuticals, PLC
• Medical Cannabis, Inc.
• United Cannabis Corporation
• Cannabis Sativa, Inc.
• GreenGro Technologies
• Aurora Cannabis
• United Cannabis Corporation
• Cara Therapeutics.
• GBSciences, Inc.
• (A brief overview of 10 companies is also provided)
Read Report Overview with Full TOC @ https://genesismarketinsights.com/viewreport/199/28/Medical-Marijuana-Market
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Genesis Market Insights (GMI), is a subsidiary of Genesis Management & Market Research Pvt.Ltd. (GMMR) having a strong experience both in primary and secondary market research serving small to large scale enterprises across globe. Established in 1993, GMMR has become a recommended brand for Market Research for various international and MNC Corporations with its strong data foundation. With its exhaustive research capabilities, strong analytics services and in house data validation tools, GMMR has delivered actionable, reliable and all-inclusive Market Research Reports. GMMR is growing strongly for last 2 decades with most of the clients providing repeat business for their trust on the data quality and recommendations for decision making.
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