Press release
Medical Cannabis Market Global Insights, Trends and Huge Business Opportunities 2020 to 2024
Medical Cannabis Market
Global market is projected to display a robust growth represented by a CAGR of 16.82% during 2019 - 2024.
A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of Global Medical Cannabis Market. The report analyzes the Global Medical Cannabis Market By Product Type (Cannabis Indica, Cannabis Sativa, Others), By Application (Chronic Pain, Mental Disorders, Cancer, Others) and By Consumption Pattern (Flowers, Concentrates, Edibles, Others). The Global Medical Cannabis Market has been analyzed By Region (North America, Europe, APAC, ROW), By Countries (US, Canada, Germany, Italy, Czech Republic, Croatia, Thailand, Australia, Uruguay, Turkey) for the historical period of 2014-2018 and the forecast period of 2019-2024.
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Prominent Players in the global Medical Cannabis market are –
Scotts Miracle-Gro Co, Canopy Growth Corp(Canada), GW Pharmaceuticals PLC, Aurora Cannabis Inc (Canada), Aphria Inc (Canada), MedReLeaf Corp, Medical Marijuana, INC, Insys Therapeutics Inc, CanniMed Therapeutics Inc, Cara Therapeutics Inc.
Industry News:
Apr 19, 2020: Better Buy: Aurora Cannabis vs. Scotts Miracle-Gro
Aurora Cannabis (NYSE: ACB) and Scotts Miracle-Gro (NYSE: SMG) rank as two of the more prominent names in the North American cannabis industry. But there's a stark contrast between the two companies' businesses and their stock performances.
While Aurora's share price has plummeted nearly 70% so far this year, Scotts Miracle-Gro stock has jumped by a double-digit percentage. Of course, these moves have made Aurora Cannabis cheaper than it's been in a long time and have put Scotts near its all-time highs.
November 20, 2019 --- Israeli Cannabis Company Signs Deal With Scotts Miracle-Gro Subsidiary
Hawthorne Gardening, a unit of Scotts Miracle-Gro Co SMG 0.02%, and North America’s largest distributor of hydroponic products, is looking to expand its business internationally. Pursuing this objective, the company has signed an agreement with iCAN: Israel-Cannabis to help it infiltrate this growing industry.
Hawthorne’s products include almost everything a cannabis cultivator, from farmer to hobbyist, needs such as lighting, nutrients and hardware.
August 10, 2020: Canopy reports CA$128 million loss as recreational cannabis revenue falls
Canadian cannabis producer Canopy Growth Corp. reported a net loss of more than 128 million Canadian dollars ($95.7 million) in the first quarter of its fiscal year, with total revenue improving slightly on a quarterly basis as the company continues its corporate transformation plan. Net revenue for the quarter ended June 30 was CA$110.4 million, an increase of 2.3% from the previous quarter. That includes net Canadian recreational marijuana revenue of CA$44.2 million – including CA$7.2 million in excise taxes – a decline of more than 11% from the CA$49.8 million worth of recreational revenue reported last quarter. Canopy’s non-recreational cannabis revenue streams included net Canadian medical revenue of CA$13.9 million, including $1.4 million in excise taxes, and international medical revenue of CA$20.2 million. “Other revenue” was CA$32.1 million, a figure that also accounts for returns and pricing adjustments.
Cannabis Indica has been witnessing growth at a noteworthy rate over the past few years as cannabis is being legalized in most of the nations with multi-application in various industries such as Food and Beverage, Paper, Textile, Healthcare, Skin and Beauty Products among others. Amongst the regions, North America accounts for the largest regional share in the global medical cannabis market in 2019. Key factors driving robust growth rate in North America region include escalating production of cannabis, with government legalizing cannabis in most of the states of US clubbed with presence of major global cannabis leaders in Canada, has been anticipated to infuse positive growth in the region during the forecast period.
Scope of the Report
-Medical Cannabis Market Size, Share & Forecast
-Segmental Analysis Standalone and Chained
- Chained/Organized Medical Cannabis Sizing, Growth, Forecast
-Market Entry Strategies for Domestic/Foreign Players
-Policy & Regulatory Landscape
-Changing Market Trends & Emerging Opportunities
-Competitive Landscape & Strategic Recommendations
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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What are the market factors that are explained in the report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Global Medical Cannabis Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
We Offer Customization on report based on specific client Requirement:
– Free country Level analysis for any 5 countries of your choice.
– Free Competitive analysis of any 5 key market players.
– Free 40 analyst hours to cover any other data point.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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