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Key Influencer in the Medical Marijuana Market 2025: The Rising Prevalence Of Cancer Fuels Demand For Medical Marijuana Market As An Adjunctive Therapy Driver
Medical Marijuana
The expected surge in cancer cases is predicted to fuel the need for medical marijuana in the market. Cancer is a disease in which some body cells become uncontrolled and migrate to other parts of the body. Medical marijuana acts as a beneficial treatment for cancer patients dealing with symptoms like neuropathy, nausea, pain, vomiting, loss of appetite, and weight. For instance, in February 2024, the World Health Organization, a specialized agency situated in Switzerland that manages international public health, forecasts that there will be over 35 million new instances of cancer by 2050, which is a 77% increase from the supposed 20 million cases in 2022. Consequently, the progressive rise of cancer prevalence is set to stimulate the expansion of the medical marijuana market.
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What is the projected compound annual growth rate (CAGR) of the medical marijuana market from 2025 to 2034, and what factors influence it?
The market size of medical marijuana has experienced significant expansion in the past few years. The market is projected to escalate from $32.96 billion in 2024 to $39.85 billion in 2025, boasting a compound annual growth rate (CAGR) of 20.9%. The considerable growth during the historic period is due to the transformation in regulatory norms, increased approval of cannabis* for medicinal use, broadening list of medical conditions, patient preference for alternative treatments, and changing perspectives of healthcare providers.
The market for medical marijuana is predicted to experience a significant increase in its size in the coming years, expanding to a valuation of $89.02 billion by 2029 with a CAGR of 22.3%. The projected growth for this period is a result of continued evolution of regulations, scientific advances and proofs, patient enlightenment, expansion of medical marijuana product options, and integration into the commonly accepted healthcare systems. Prevailing tendencies, moving into the forecast period, encompass collaborations with standard healthcare providers, emphasis on personalized treatment regimes, standardization in dosage and labelling, as well as increased financial activities including investment and mergers and acquisitions.
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How are the latest trends influencing the growth of the medical marijuana market?
Strategic alliances are emerging as an influential trend in the medical marijuana industry. Key players in the sector are directing their focus on such alliances to augment their market presence and take advantage of mutual resources. For instance, Trulieve cannabis* Corp., a US firm specializing in cannabis* retail, teamed up with Black Buddha cannabis*, a US-based wellness brand provider, in October 2024. This joint venture aims to incorporate Black Buddha's products into Trulieve dispensaries situated in Arizona and Pennsylvania, boosting Trulieve's product range with wellness-oriented cannabis* products from Black Buddha, particularly their BLYSS and DREAM portfolios, which highlight therapeutic gains and tailored terpene profiles. In addition to this, in January 2022, Trulieve cannabis* Corp. amplified its partnership with Connected cannabis* Co, a leading US-based cannabis* cultivator. This broadened alliance focuses on maintaining a collection of unique top-shelf strains.
What are the major segments of the medical marijuana market and their role in driving growth?
The medical marijuana market covered in this report is segmented -
1) By Product: Dried Flower, Extract Form
2) By Type: Flower, Concentrate, Edibles, Other Types
3) By Application: Pain Management, Tourette Syndrome, Alzheimer's disease, Migraines, Depression And Anxiety, Multiple Sclerosis, Cancer, Other Applications
4) By Distribution Channel: Retail Pharmacy, E-Commerce, Other Distribution Channels
Subsegments:
1) By Dried Flower: Indica Strains, Sativa Strains, Hybrid Strains
2) By Extract Form: Oils, Tinctures, Concentrates, Edibles
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Which regions are key players in the growth of the medical marijuana market?
North America was the largest region in the medical marijuana market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global medical marijuana market during forecast period. The regions covered in the medical marijuana market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the medical marijuana market?
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, Aurora cannabis* 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 cannabis* 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.
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What Is Covered In The Medical Marijuana Global Market Report?
•Market Size Forecast: Examine the medical marijuana market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the medical marijuana market for a structured understanding.
•Key Players Overview: Analyze major players in the medical marijuana market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the medical marijuana market.
•Segment Contributions: Evaluate how different segments drive overall growth in the medical marijuana market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the medical marijuana market.
•Industry Challenges: Identify potential risks and obstacles affecting the medical marijuana market.
•Competitive Landscape: Review strategic developments in the medical marijuana market, including expansions, agreements, and new product launches.
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