Medical Marijuana Market 2018: Exploration on Eminent Players | Medical Marijuana, Inc., Tilray, Emerald Health Therapeutics, Lexaria Corporation, Cannabis Sativa, Inc., Insys Therapeutics, Inc., Corbus Pharmaceuticals, GBSciences, Inc., The Cronos Group,

Medical Marijuana Market size was valued over USD 7.0 billion in 2017 and is expected to witness more than 36.0% CAGR from 2018 to 2024.Medical marijuana market to register an appreciable CAGR of 36% over 2018-2024, Germany to emerge as a vital regional contender

The global burden of pain-related diseases increased tremendously affecting more than 1500 million people worldwide; therefore, more cannabis approval for medical purpose are on horizon. With increasing number of product approvals in various regions across the globe, the medical marijuana industry size will expand significantly in upcoming years.

Growing demand for marijuana application in the treatment of chronic pain caused by neurological disorders, cancer, HIV/AIDS, and arthritis will drive the global medical marijuana market growth. Moreover, increasing preference of marihuana over opioid narcotics that cause various side lethal side effects will accelerate medical cannabis demand over the coming years.

Request sample copy of this report @ https://www.gminsights.com/request-sample/detail/2836

Topical medical marijuana market segment valued USD 349.1 million in 2017. Increase in demand for marijuana topical creams, ointments and patches for the treatment of various skin-related conditions will boost the demand for the same. Moreover, rising epidemiology of skin diseases with rapidly increasing ageing population will also lead to the marijuana demand proliferation.

Medical marijuana pain management market segment is estimated to expand at 36% CAGR during the forecast period. Growing number of population affected with pain all around the globe is propelling the segment growth. In addition, medical marijuana has become an increasingly widespread alternative to traditional pain-relieving opioids which have lethal side-effects; thus, various advantaged associated with the use of cannabis for medical purpose will augment the medical marijuana pain management market growth.

A news that has lately set the global medical marijuana market ablaze, is that of the Canadian Government passing the Cannabis Act for the official legalization of the marijuana drug. According to reports, Justin Trudeau, the Canadian Prime Minister, has set October 17, 2018 as the official date for the announcement, following which adult marijuana will be available for the sale in authorized dispensaries. After Uruguay, Canada is only the second country in the world, and the first among the G7 nations to permit a legal market for marijuana. The instance clearly throws light on the vast market potential Canada will be holding for investors of both medical and recreational marijuana.

Recently for instance, WeedMD Inc., a licensed producer and distributor of medical cannabis has announced that it has collaborated with Revive Therapeutics Ltd. to focus on research and development & commercialization of novel cannabinoid-based therapies. Reports reveal that WeedMD will supply Revive with cannabidiol (CBD) and delta-9-tetrahydrocannabinol (THC), which are the two main chemicals used for medical purposes that will in turn evaluate the treatment of liver disease, autoimmune hepatitis, and non-alcoholic steatohepatitis.

In another turn of events, WeedMD, has also signed a joint agreement with Phivida Holdings Inc., to develop & operate Cannabis Beverages Inc., at its Strathroy-based greenhouse facility, Ontario. According to reports, the joint venture will focus on product manufacturing, marketing, development, and supply of cannabis-infused beverages for Canada as well as to licensed international markets. The CBD-infused products market valuation in Canada alone is about USD 5.6 billion – according to the Consumer Health Products Canada. And the duo, leveraging the proven product demand, is expected to position themselves well enough in the growing marijuana market.

The presence of such a large number of recreational and medical marijuana companies in Canada, have indeed significantly impelled the Canada medical marijuana market. Reports further claim that the Canada medical marijuana market is forecast to register a CAGR of 32% over 2018-2024. Across the European continent, Germany being the first country to legalize medical marijuana recently in 2017, is expected to be a lucrative investment spot for potential stakeholders. Having accounted for USD 805.5 million in 2017, the Germany medical marijuana industry is projected to grow at a striking rate of 49.5% over 2018-2024.

Make Inquiry about this report @ https://www.gminsights.com/inquiry-before-buying/2836

The rigorous relaxations and modifications in drug policies to increase the access to the drug from several countries have led to an extraordinary expansion of the online medical marijuana market. The legalization has further paved way for customers & patients to opt for more convenient ways such as mail orders. The online buying process is further gaining traction, given the complete privacy and discreetness this distribution channel provides.

All in all, with support from the regional governments and emergence of new business opportunities through e-commerce, this market is expected to emerge as one of the most profitable business spaces of its time. Further shedding light on the commercialization matrix, a report by Global Market Insights, Inc., claims the global medical marijuana industry to hit USD 55 billion by 2024.

Report Content

Chapter 1. Methodology
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Market definition and forecast parameters
1.2. Data sources
1.2.1. Secondary
1.2.2. Primary

Chapter 2. Executive Summary
2.1. Medical marijuana industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Application trends
2.1.3. Route of administration trends
2.1.4. Distribution channel trends
2.1.5. Regional trends

Chapter 3. Medical Marijuana Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Increasing application of marijuana for a myriad of medical conditions and symptoms
3.3.1.2. Growing demand for medical marijuana legalization in several countries
3.3.1.3. Rising number of R&D and clinical trial activities
3.3.2. Industry pitfalls & challenges
3.3.2.1. Few side effects might hinder the market growth
3.3.2.2. Difficulty in medical marijuana business banking
3.4. Growth potential analysis
3.4.1. By application
3.4.2. By route of administration
3.4.3. By distribution channel
3.5. Porter’s analysis
3.6. Competitive landscape, 2017
3.6.1. Business overview
3.6.2. Revenue analysis
3.6.3. Product landscape
3.6.4. Strategy dashboard
3.7. PESTEL analysis
3.8. Value chain analysis
3.9. Legal Requirement for Distribution of Medical Marijuana
3.10. Regulatory Landscape, by Country
3.10.1. US
3.10.2. Canada
3.10.3. The Netherlands
3.10.4. Israel

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

This release was published on openPR.