Medical Marijuana Global Market Observe Highest Growth of $72.9 Billion with an Excellent CAGR of 21.6% by 2028

"The Business Research Company recently released a comprehensive report on the Global Medical Marijuana Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=9091&type=smp

According to The Business Research Company's, The medical marijuana market size has grown exponentially in recent years. It will grow from $27.5 billion in 2023 to $33.3 billion in 2024 at a compound annual growth rate (CAGR) of 21.1%. The growth in the historic period can be attributed to changing regulatory landscape, growing acceptance of cannab*is for medical purposes, expanding list of medical conditions, patient demand for alternative therapies, evolving healthcare provider attitudes.

The medical marijuana market size is expected to see exponential growth in the next few years. It will grow to $72.9 billion in 2028 at a compound annual growth rate (CAGR) of 21.6%. The growth in the forecast period can be attributed to continued regulatory developments, scientific research and evidence, patient education and awareness, expansion of medical marijuana product offerings, integration into mainstream healthcare. Major trends in the forecast period include partnerships with traditional healthcare providers, focus on customized treatment plans, standardization of dosage and labeling, investment and M&A activity.

Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/medical-marijuana-global-market-report

Market Drivers and Trends:

The increasing prevalence of cancer is expected to drive the demand for the medical marijuana market going forward. Cancer refers to the condition when a few of the body's cells grow out of control and spread to other bodily regions. Medical marijuana helps treat cancer patients with neuropathy, nausea, pain, vomiting, appetite, and weight loss. For instance, in April 2022, according to a report on cancer facts and figures by the American Cancer Society, a US-based nonprofit health organization devoted to the eradication of cancer, there were 1.92 million new cases of cancer in the US, compared to 1.89 million cases in 2021. Therefore, the increasing prevalence of cancer will drive the growth of the medical marijuana market.

The strategic partnership is a key trend gaining popularity in the medical marijuana market. Major players in the medical marijuana sector are focused on strategic partnerships to expand their market and leverage each other's resources. For instance, in December 2021, Teva Pharmaceutical, an Israel-based pharmaceutical company partnered with Tikun Olam-Cannbit, an Israel-based company engaged in the research associated with medical cann*abis products. The partnership aims to produce certain medical canna*bis products administered as oils and will be marketed by Teva Israel to patients in Israel. Furthermore, in January 2022, Trulieve Cann*abis Corp., a US-based canna*bis company expanded its partnership with Connected Canna*bis Co, a US-based premier canna*bis cultivator. The expanded partnership aims to maintain a portfolio of proprietary top-shelf strains.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Major Key Players of the Market:

Pfizer Inc., Curaleaf Holdings Inc., Trulieve Canna*bis Corp, Green Thumb Industries GTI Inc., Cresco Labs Inc., Tilray Inc, Aphria Inc., Canopy Growth Corporation, Jushi Holdings Inc., TerrAscend Corp, Aurora Canna*bis Inc., HEXO Corp, MedMen Enterprises Inc., Organigram Holdings Inc., Charlotte's Web Holdings Inc., Vireo Health International Inc., Medical Marijuana Inc., Cara Therapeutics Inc., VIVO Cann*abis Inc., Valens GroWorks Corp, Green Relief Inc., Harborside Inc., MediPharm Labs Inc., Tikun Olam Cannbit Ltd., Emerald Health Therapeutics Inc., MedReleaf Corporation, GB Sciences Inc., CanniMed Therapeutics Inc., The Cronos Group Inc., Planet 13 Holdings Inc.

Medical Marijuana Market 2024 Key Insights:

• The medical marijuana market size is expected to see exponential growth in the next few years. It will grow to $72.9 billion in 2028 at a compound annual growth rate (CAGR) of 21.6%.
• The Rising Prevalence Of Cancer Fuels Demand For Medical Marijuana Market As An Adjunctive Therapy
• Strategic Partnerships Drive Growth In The Medical Marijuana Market
• North America was the largest region in the medical marijuana market in 2023

We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=9091&type=smp

Contact Us:

The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ "

Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.