Medical Marijuana Market to face continuous growth 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, the increase in the number of countries is the use of medical marijuana to anticipate market growth during the forecast period. In addition, the strict rules and regulations relating to medical marijuana, such as medical marijuana regulations and safety laws, and the increase in the number of licenses issued each year define the demand for marijuana in the market.

Moreover, growth in investment in R&D and increase in business strategies by companies of marijuana is expected to impel the market growth. For instance, in 2016, Gibraltar Industries acquired Nexus Corporation strengthening its position as greenhouse manufacturer and distributor. However, complex regulatory framework to obtain license majorly hinders the medical marijuana market.

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

• 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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