Medical Cannabis Market Rising Trends and Demands In Healthcare Industry 2018-2026 | BOL Pharma, Tilray, Medreleaf Corporation, Aurora Cannabis, Canopy Growth Corporation, Insys Therapeutics

According to the U.S., marijuana was the most widely used drug globally in 2014 with around 183 million users. Such a large user base makes it highly lucrative taxable opportunity, which is influencing various governments worldwide to initiate studies regarding legalization of the drug for medicinal use.

Medicinal cannabis are also known as Medical marijuana, which area used either to treat disease or to improve their symptoms. The two cannabinoids - delta-9-tetrahydrocannabinol (THC) and Cannabidiol (CBD) are used in treatment of certain disease or health conditions such as pain, blood pressure, memory, concentration, appetite, sensory stimulus, muscular problems, and seizures. The various economies are involved in the activities to legalize the export of medicinal cannabis product, which in turn is expected to fuel growth of the medical cannabis market. For instance, in January 2018, the Government of Australia allowed cannabis producers in the region to export medicinal cannabis and cannabis products in the global market.

Download the PDF brochure: www.coherentmarketinsights.com/insight/request-pdf/40

Market Dynamics
According to the Medical Marijuana, Inc., an estimated size of the legal marijuana industry in the U.S. was US$ 7.1 billion in 2016 with increase of 25% Y-o-Y. In 2016, 28 states in the U.S. have legalized marijuana for medicinal purpose with some more gearing up for votes on the recreational use of marijuana. California, Nevada, Maine, and Massachusetts states in November 2016, voted to legalize the recreational use of marijuana. The accelerated pace of legalization of cannabis (marijuana) in the U.S. has attracted the attention of global investors in the medical cannabis market. However, lack of formulation of a comprehensive law pertaining to medical marijuana in some states inhibits patient access to the drug.

Legalization of medicinal cannabis in various economies is expected to drive the market growth
Some of the major factors driving growth of the market include increasing approval of medicinal cannabis products and increasing research and development activities. For instance, in March 2017, a law that allows the use of cannabis plant was signed by the German parliament. This would in turn allow the healthcare professionals to prescribe medicinal cannabis products to the patients suffering from severe health issues such as chronic pain, vomiting, and nausea

Potential medical cannabis markets other than the U.S. include Canada, Israel, Australia, and Spain. Mexico is also in process to consider the legalization of cannabis. For instance, in February 2016, Medical Marijuana, Inc. launched the HempMeds Mexico- a CBD hemp oil product in the Mexico. With the launch of HempMeds Mexico, company is intended to expand its cannabis business in the Latin America, by establishing the labs, manufacturing, sales and distribution facilities in the Mexico, in coming years. Other economies are expected to consider legalization of the drug, once conclusive evidence regarding the safety and efficacy of cannabis are obtained through extensive research.

Some of the key players operating in the global medical cannabis market include BOL Pharma, Tilray, Medreleaf Corporation, Aurora Cannabis, Inc., Canopy Growth Corporation, Insys Therapeutics, Inc., Aphria, Inc., MGC Pharmaceuticals Limited, GW Pharmaceuticals, plc, and Medical Marijuana Inc.

Request For a Sample Copy of This Research Report: www.coherentmarketinsights.com/insight/request-sample/40

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Mr.Shah
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

This release was published on openPR.