Medical Marijuana Market determined to grow faster during 2017 - 2023

Marijuana means dried leaves, flowers, stems, and seeds collected from hemp plants. There are two major active chemicals in Marijuanacannabidiol (CBD) and tetrahydocannabinol (THC) that affect the brain and relieve pain. Marijuana provides pain relief in conditions such as fibromyalgia, grand mal seizures, and other medical conditions. Likewise, it reduces the symptoms of many serious medical conditions such as AIDS, cancer, and glaucoma.

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Increased disease prevalence and increased demand for palliative care for diseases such as cancer, AIDS, seizures and other diseases are leading the market for medical marijuana. In 2016, marijuana was medically available in Colombia, Macedonia, Israel, Germany, Australia and other countries.

Thus, as the number of countries that legitimize the use of medical marijuana increases, it is expected to stimulate market growth during the forecast period. In addition, the increase in the number of strict rules and regulations relating to medical marijuana, such as medical marijuana regulations and safety laws, and the number of licenses issued annually regulates the demand for marijuana in the market.

In addition, market growth is expected due to the increase in R & D investment and business strategy of marijuana company. For example, Gibraltar Industries acquired Nexus Corporation in 2016, strengthening its position as a greenhouse manufacturer and distributor. However, the complex regulatory framework for licensing hinders the market for medical marijuana.

The market is segmented on the basis of medical application and geography. By medical applications, the market is categorized into chronic pain, migraine, cancer, arthritis, and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Key Benefits of Medical Marijuana Market Report:

• The study provides an in-depth analysis of the global medical marijuana market, with current trends and future estimations to elucidate the investment pockets.

• Comprehensive analysis of factors that drive and restrict the growth of the market is provided.

• The report provides a quantitative analysis to help the stakeholders to capitalize on prevailing market opportunities.

• Extensive analysis of different segments facilitates to understand various products of the market.

• Key players are profiled and their strategies are analyzed thoroughly, which predict the competitive outlook of the market.

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