Press release
Exponential Growth in Medical Marijuana Market: Driven by Regulatory Developments and Greater Acceptance
Medical Marijuana Market Size
What Is The Projected Market Size Of The Global Medical Marijuana Market And Its Growth Rate?
•The medical marijuana market size has grown exponentially in recent years.
•It will grow from $32.96 billion in 2024 to $39.85 billion in 2025 at a compound annual growth rate (CAGR) of 20.9%.
•The growth in the historic period can be attributed to changing regulatory landscape, greater acceptance of cannabis* for medical purposes, and an expanding list of medical conditions that can be treated with the plant.
•The market size is expected to reach $89.02 billion in 2029 at a compound annual growth rate (CAGR) of 22.3%.
•Growth in the forecast period will be driven by continued regulatory developments, scientific research and evidence, patient education and awareness, expansion of product offerings, and integration into mainstream healthcare.
What Is Driving The Growth In The Medical Marijuana Market?
The increasing prevalence of cancer is anticipated to be a significant driver for the medical marijuana market. Cancer pertains to the uncontrollable growth and spread of certain body cells. Medical marijuana has proven beneficial in managing cancer symptoms such as neuropathy, nausea, pain, vomiting, appetite, and weight loss. According to the World Health Organization, by 2050, over 35 million new cancer cases are projected, a 77% increase from the estimated 20 million cases in 2022. Therefore, the rising occurrence of cancer will fuel the growth of the medical marijuana market.
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Who Are the Key Players Driving Medical Marijuana Market Growth?
Major companies operating in the medical marijuana market include:
•Pfizer Inc.
•Curaleaf Holdings Inc.
•Trulieve cannabis* Corp.
•Green Thumb Industries GTI Inc.
•Cresco Labs Inc.
•Tilray Inc
•Aphria Inc.
•Canopy Growth Corporation
•Jushi Holdings Inc.
•TerrAscend Corp.
What Are The Key Trends In The Medical Marijuana Market?
Key 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.
What Are The Segments Of The Global Medical Marijuana Market?
The medical marijuana market covered in this report is segmented into:
•By Product: Dried Flower, Extract Form
•By Type: Flower, Concentrate, Edibles, Other Types
•By Application: Pain Management, Tourette Syndrome, Alzheimer's disease, Migraines, Depression And Anxiety, Multiple Sclerosis, Cancer, Other Applications
•By Distribution Channel: Retail Pharmacy, E-Commerce, Other Distribution Channels.
Which Region Leads The Medical Marijuana Market?
North America led the medical marijuana market in 2024. In the upcoming years, Asia-Pacific is expected to demonstrate the most accelerated growth in the global medical marijuana market.
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What Is Covered In The Medical Marijuana Market Global Market Report?
•Market Size Analysis: Analyze the Medical Marijuana Market size by key regions, countries, product types, and applications.
•Market Segmentation Analysis: Identify various subsegments within the Market for effective categorization.
•Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
•Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
•Market Contribution: Evaluate contributions of different segments to the overall Market growth.
•Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
•Industry Challenges: Analyze challenges and risks affecting the Market.
•Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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