Medical Marijuana Markets to Reach USD 26,920.4 Million With a CAGR 20.04% by 2028 | Key Players - Aurora, CannTrust Holdings, MedReleaf Corp, Emerald Health Therapeutics

A new market study, titled “Medical Marijuana Market Forecast 2021-2028” has been featured on Fortune Business Insights™.

***Get Latest Updated Market Research Report with Sample Report

Market Overview:

The global medical marijuana market size is expected to reach USD 26,920.4 million by 2028, owing to the increasing demand for decriminalization of marijuana in most parts of the world. medical marijuana is extracted from the marijuana plant and can be used for treating certain illnesses and health conditions. But due to government restrictions, the use of marijuana as a medicinal drug is not tested rigorously. A recently published report by Fortune Business Insights™ titled, “Medical Marijuana Market Size, Share & Industry Analysis, By Application (Pain Disorders, Cancer, and Others), By Type (Flowers, Concentrates, Edibles and Others), By Distribution Channel (Dispensaries, Online, and Others), and Regional Forecast, 2021-2028” discusses the market comprehensively. According to this report, the market was USD 6,338.1 million in 2020 and is anticipated to exhibit a CAGR of 20.4% during the forecast period set between 2021 to 2028.

Request for Sample Report PDF @ https://www.fortunebusinessinsights.com/enquiry/sample/medical-marijuana-market-102609

List of Notable Automobile Interior Materials Market Manufacturers include:

Aurora
CannTrust Holdings
MedReleaf Corp
Emerald Health Therapeutics
The Cronos Group
Green Relief Inc.
Medical Marijuana, Inc.
ABcann Medicinals, Inc.
GW Pharmaceuticals
Aphria Inc.
Canopy Growth Corporation
Other Vendors
Factors driving the growth prospects of the industry

There is a slew of factors that have affected the entire industry. Legalization of marijuana for medical and recreational purposes has had a positive impact on the industry. This has affected the black market by a great extent. Furthermore, it has opened the floodgates for the government. The government has now easy access to the tax revenues on the following products. Presence of large customer base ensures that the funds keep coming even in the worst time.

Despite all the efforts by the major economies, the stringent rules and regulations have affected the growth opportunities. Europe has already tasted the results of strict laws in place. Strict laws are the necessity of the hour and should not be ignored by the government for higher profits.

Market Drivers

Medicinal Properties of to Propel Growth

The increasing demand for legalization of medical across various states is a major medical marijuana market growth driver. Besides this, the rising prevalence of diseases such as Parkinson’s disease, cancer, neurological disorders, and acute pain diseases is also expected to aid in expansion of the market in the forecast period. On the contrary, increasing application of marijuana beyond the required dose may result in side effects such as hallucinations, dizziness, low blood pressure, and others. This may stand as a major challenge to the market in the long run.

Regional Segmentation:

Increasing Awareness on medicinal Properties of to Offer Lucrative Growth Opportunities for the Rest of the World

Geographically, North America earned the maximum medical marijuana market share with a revenue of USD 5,994.9 million earned in 2018, that is anticipated to reach USD 24,578.3 million by the end of 2026.Growth of this region is attributed to the rise in the number of legalization of marijuana for both medical and recreational purposes, coupled with the presence of major vendors in the region. Europe ranks second in terms of cultivation and is expected to witness significant growth owing to the increasing investments for research activities by many public and private entities in the forthcoming years.

Furthermore, the market in Latin America and the Rest of the World is anticipated to witness lucrative business opportunities in the years to follow. This is owing to the rise in prevalence of chronic ailments, psychiatric disorders, acute pain diseases and the increasing awareness about the medicinal benefits of .

Key Geographical Markets

The United States and European companies have always been known for their dominance and technological opportunities. Despite this, Israel has been leading the race. The country denominates the market by a great extent and is spreading the word to the rest of the world. Other prominent markets include names like Australia, Poland, Germany, Uruguay, and Colombia. These markets project high growth opportunities and are about to promote the industry positively.

Other rising markets include names like the United Kingdom. These countries are still working on the law and are about to make significant improvements for the medical use of marijuana. Furthermore, emerging nations like South Africa and New Zealand are in the mid of conversation about the industry and how it can implement rules on the same.

Competitive Landscape:

Entry of New Players will Intensify Market Competition

The rapid developmental pace of medical marijuana and its wide expansion has propelled many players to enter into this market and make heavy investments in research and development of the same. Although the most crucial part is its production and cultivation, significant medical marijuana market revenue is derived from the pharmacological organizations. Besides this, with the increasing number of marijuana legalization in various states, more and more players are entering into the market to make their mark in the competition. Existing players are focusing on geographical expansion for gaining a competitive edge in the market in the forthcoming years.

After decades of patience, the marijuana industry is about to make significant reforms. The products are readily available in supermarkets or convenience stores. The product is available in the form of seeds, oils, gel, and protein capsules. The research on the subject is still on, and companies all over the world are trying to produce crucial products from the plant.

Ask for Customization @ https://www.fortunebusinessinsights.com/enquiry/customization/medical-marijuana-market-102609

Table Of Content:

Table of Content:

1.Introduction

2.Key Takeaways

3.Market Dynamics

4.Competition Landscape

5.Global Process Mining Software Key Players Market Share Insights and Analysis, 2020

6.Key Market Insights and Strategic Recommendations

7.Companies Profiled

8.Annexure / Appendix

Key Industry Developments of the Medical Marijuana Market Include:

September 2019 – The first ever medical marijuana tablets were launched by Curaleaf in Florida and is available across 26 Curaleaf dispensaries across the U.S.

March 2019 – Harvest One signed an agreement with Health House for distributing Satipharm CBBD Gelpell Capsules for carrying out business across Asia, New Zealand, and Australia.

NOTE: Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. We aim to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

This release was published on openPR.