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Cannabinoids Market Analysis, Size, Share, Growth And Global Forecast 2023-2032
Cannabinoids Market Report
The Business Research Company's Cannabinoids Global Market Report 2023 identifies the rising prevalence of chronic diseases as the major driver for the cannabinoids market's growth in the forecast period. Chronic diseases refer to illnesses that last a year or longer and require ongoing medical attention. The effectiveness of cannabinoids, such as smoked marijuana, nabilone, dronabinol, in the treatment of chronic noncancer pain, was examined in a systematic review of randomized controlled trials.
The global cannabinoids market size is expected to grow from $27.47 billion in 2022 to $32.94 billion in 2023 at a compound annual growth rate (CAGR) of 19.92%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the cannabinoids market is expected to reach $68.38 billion in 2027 at a CAGR of 20.03%.
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Major competitors in the cannabinoids market are Elixinol Global Limited, GW Pharmaceuticals PLC., Tilray Inc., The Cronos Group, Canopy Growth Corporation.
A key trend in the cannabinoids market includes the rise in research and development in medical cannabinoids. Major companies operating in the market are focused on research and development of new medicinal products and treatments through trials.
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The cannabinoids market is segmented -
•By Product Type: Tetrahydrocannabinol, Cannabinol, Other Product Types
•By Distribution: Hospital Pharmacies, Retail Pharmacies, Online Stores
•By Application: Medical, Recreational, Industrial Hemp
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the cannabinoids market.
The Business Research Company's "Global Cannabinoids Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Cannabinoids Market Include:
1. Executive Summary
2. Cannabinoids Market Characteristics
3. Cannabinoids Market Trends And Strategies
4. Cannabinoids Market - Macro Economic Scenario
5. Cannabinoids Market Size And Growth
……
26. Africa Cannabinoids Market
27. Cannabinoids Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Cannabinoids Market
29. Cannabinoids Market Future Outlook and Potential Analysis
30. Appendix
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