Press release
Impact of COVID-19 Medicinal Cannabis Market Size 2020, Global Industry Trends, Forecast Analysis To 2026
Medicinal Cannabis Market
Medicinal Cannabis Market - Competitive Landscape
Some of the key players operating in medicinal 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.
๐๐ฒ๐ ๐๐ฟ๐ฒ๐ฒ ๐ฃ๐๐ ๐๐ฟ๐ผ๐ฐ๐ต๐๐ฟ๐ฒ ๐ข๐ณ ๐ง๐ต๐ถ๐ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐ @ https://www.coherentmarketinsights.com/insight/request-pdf/40
Market Dynamics
According to the Medical Marijuana, Inc., the legal marijuana industry in the U.S. was valued at US$ 7.1 billion in 2016, with an increase of 25% Y-o-Y. In 2016, 28 states in the U.S. legalized marijuana for medicinal purposes. In November 2016, California, Nevada, Maine, and Massachusetts legalized recreational use of marijuana. Increasing legalization of cannabis (marijuana) in the U.S. has attracted attention of global investors in the medicinal cannabis market.
Increasing technological advancements in testing cannabis quality made easier for manufacturer to develop the new cannabis medicines to various disease indications, which is expected to drive growth of medicinal cannabis market. For instance, in November 2018, PerkinElmer, Inc. launched its QSight 400 Series Triple Quad Mass Spectrometer, which is a highly sensitive analytical instrument designed for rapid identification and quantitation of pesticides, mycotoxins, contaminants in complex food, cannabis, and environmental testing applications.
Market Taxonomy
This report segments the global medicinal cannabis market on the basis of point of sale, active ingredient, and therapeutic application. On the basis of point of sale, the global medicinal cannabis market is classified into dispensaries, online pharmacies, and hospital pharmacies. Active ingredients of medicinal cannabis include tetrahydrocannabinol (THC) and Cannabidiol (CBD). Therapeutic application is categorized into pain, arthritis, neurological disease, and other applications.
Increase in the legalization of medicinal cannabis in various economies is expected to augment the market growth
Increasing approvals for medicinal cannabis products and growing research and development activities in the medicinal cannabis market are expected to support growth of the market. For instance, in March 2017, Germanyโs parliament passed a law allowing medicinal use of the cannabis plant by allowing healthcare professionals to prescribe medicinal cannabis products to patients suffering from health issues such as chronic pain, vomiting, and nausea. However, health issues resulting from excessive cannabis consumption such as tachycardia, risk of heart attack, particularly in individuals with existing heart disease or arrhythmias, are expected to restrain growth of the market.
Legalization of medicinal cannabis is expected to grow once conclusive evidence regarding its safety and efficacy is obtained through extensive research. For instance, in 2013, Czech Republic legalized medicinal marijuana for patients suffering from chronic pain, epilepsy, chemotherapy induced side effects, and other severe disease indications. Furthermore, the law allows patients with marijuana prescription to purchase medicinal marijuana from pharmacies. However, cultivation of marijuana in not allowed in the country, and thereby suppliers need to import medicinal cannabis. These factors are expected to contribute to the growth of the medicinal cannabis use in pharmaceutical and biotechnology industry.
๐๐ฟ๐ผ๐๐๐ฒ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐ ๐๐:
https://www.coherentmarketinsights.com/market-insight/medicinal-cannabis-market-40
Medicinal Cannabis Market - Regional Insights
On the basis of region, the global medicinal cannabis market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to hold dominant position in the global medicinal cannabis market during the forecast period manufacturers U.S. medical cannabis market are focusing on expansion strategies to increase their product portfolio. For instance, in July 2016, Insys Therapeutics, Inc. received the U.S. Food and Drug Administration (FDA) approval for dronabinol oral solution, Syndros, an orally administered liquid formulation of the pharmaceutical, cannabinoid dronabinol. Syndros is indicated in treatment of anorexia associated with weight loss among patients suffering from AIDS and those suffering from cancer chemotherapy-induced nausea and vomiting.
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Medicinal cannabis , also known as medicinal marijuana, is used either to treat disease or improve symptoms. Cannabis has been considered to be a major source of drug addiction. Extract from the dried flower bud part of the plant called as Marijuana has certain medicinal properties. The two cannabinoids - delta-9-tetrahydrocannabinol (THC) and cannabidiol (CBD) are being used in treatment of certain disease or health conditions such as pain, bloodโฆ
