openPR Logo
Press release

Medicinal Cannabis Market- Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016-2024

03-21-2017 04:23 PM CET | Health & Medicine

Press release from: CMI - Healthcare Reports

Medicinal Cannabis Market- Global Industry Insights, Trends,

Medicinal cannabis, also known as medicinal marijuana, is used either to treat disease or improve symptoms. Cannabis has been considered to be a major source of drug addiction. Extract from the dried flower bud part of the plant called as Marijuana has certain medicinal properties. The two cannabinoids - delta-9-tetrahydrocannabinol (THC) and cannabidiol (CBD) are being used in treatment of certain disease or health conditions such as pain, blood pressure, memory, concentration, appetite, sensory stimulus, muscular problems, and seizures.

To know about the assumptions considered for the study, Download the PDF Brochure: https://www.coherentmarketinsights.com/insight/request-sample/40

Medicinal Cannabis Market Dynamics

However, the debate still continues regarding the approval, safety and usage of cannabis (marijuana) for medicinal purpose, due to differences in the laws pertaining to this smoked drug. Hence, studies are conducted extensively to establish the safety aspect of this drug. Various states in the U.S. have already legalized cannabis (marijuana) for medicinal purposes. Scientific research of chemicals in the cannabis plant for its potential medicinal use has led to a shift in its demand purpose. Regulatory clearance has played a major role in the growth of medicinal cannabis market.

Other names of Cannabis - grass, pot, dope, Mary Jane, hooch, weed, hash, joints, brew, reefers, cones, smoke, mull, buddha, ganga, hydro, yarndi, heads, and green.

The U.S. FDA has approved two medications, Marinol and Syndros, which contain dronabinol in pill form. However, the FDA has not approved the marijuana plant as a medicine. The medicinal cannabis (marijuana) is administered in either of the ways – liquid extract, vaporized form, smoked or solid form.

Prevalent Scenario in the Medicinal Cannabis Market

According to the Medical Marijuana, Inc., the estimated size of the legal marijuana industry in the U.S. is US$ 7.1 billion in 2016. This is an increase of 25% Y-o-Y. As of 2016, 28 states in the U.S. have legalized marijuana for medicinal purpose with some more gearing up for votes on the recreational use of marijuana. California, Nevada, Maine, and Massachusetts states in November 2016, voted to legalize the medicinal use of marijuana. The accelerated pace of legalization of cannabis (marijuana) in the U.S. has attracted the attention of global investors in the medicinal cannabis market. However, lack of formulation of a comprehensive law pertaining to medicinal marijuana in some states inhibits patient access to the drug.

Browse Global Strategic Business Report : https://www.coherentmarketinsights.com/ongoing-insight/medicinal-cannabis-market-40

Important role of Regulatory Authorities in the Medicinal Cannabis Market Trend

According to the United Nations, marijuana was the most widely used drug globally in 2014, with around 183 million users. Such a large user base makes it highly lucrative taxable opportunity, which is influencing various governments worldwide to initiate studies regarding legalization of the drug for medicinal use. The National Institute on Drug Abuse is still conducting research on cannabis (marijuana) to treat numerous diseases and conditions such as autoimmune disease, pain, inflammation, seizures, mental disorders, and substance abuse disorders. Regulatory compliance is a key factor that influences cost, quality, and safety of cannabis (marijuana) medicines, as well as the capacity for the manufacturers in the medicinal cannabis market to be responsive, scalable, and innovative.

Medicinal Cannabis Market Future Outlook

Potential medicinal cannabis markets other than the U.S., include Canada, Israel, Australia, and Spain. Mexico is also in process to consider the legalization of cannabis. Other countries are expected to consider legalization of the drug, once conclusive evidence regarding the safety and efficacy of cannabis are obtained through extensive research. According to Arcview Group—a cannabis industry investment and research firm—around 200 investors met companies to capitalize on lucrative opportunities from commercialization of medicinal cannabis. This implies that there is a huge potential in the medicinal cannabis market and pharmaceutical and biotechnology companies need to focus on increasing awareness about the drug emerging economies.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
Visit Coherent Market Insights Blog @ https://blog.coherentmarketinsights.com/
Connect with us on LinkedIn @ https://www.linkedin.com/company/coherent-market-insights

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Medicinal Cannabis Market- Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016-2024 here

News-ID: 475990 • Views:

More Releases from CMI - Healthcare Reports

Biodetection Market - Opportunity Analysis, 2016-2024
Biodetection Market - Opportunity Analysis, 2016-2024
Biodetection is witnessing increased acceptance owing to growing bio-terrorism, which in turn results in rising number of illnesses and related deaths. Bioterrorism attacks are carried out using biological agents or biological weapons such as potential pathogens and viruses. Biodetection systems indicate the existence or entry of these pathogens. Bioterrorism attacks are a major concern for governments, as these attacks negatively impact a large population at the same time. For instance,
Augmented Reality in Healthcare Market - Global Industry Insights, Trends and Opportunity Analysis, 2016-2024
Augmented Reality in Healthcare Market - Global Industry Insights, Trends and Op …
Technological Advancements to Drive Adoption of Augmented Reality Solutions in North America North America is expected to dominate the global augmented reality in healthcare market size, owing to rising awareness among people and growing demand for augmented reality among people in this region. Moreover, technological advancements in augmented reality is also accentuating market growth in North American. Europe is the next most-dominant market for augmented reality in healthcare market. On an
Augmented Reality in Healthcare Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016-2024
Augmented Reality in Healthcare Market - Global Industry Insights, Trends, Outlo …
Augmented reality is gaining prominence among medical personnel for various applications ranging from surgical preparation assessment to minimally-invasive surgery and rehabilitation. Various healthcare IT-enabled companies are venturing into the augmented reality in healthcare market to capitalize on the high growth opportunities on offer. The million dollar market is witnessing technology disruption and is expected to grow at a robust double digit CAGR during 2016–2024. Augmented reality is finding wide application
Orthopedic Trauma Devices Market - Global Industry Analysis 2024
Orthopedic Trauma Devices Market - Global Industry Analysis 2024
Orthopedic Trauma Devices Market Overview Orthopedic trauma is a condition that includes injuries mainly affecting the human skeleton and deteriorating the condition of the subject. It includes the conditions ranging from simple fracture to severe life threatening injuries that are caused due to accidents. Orthopedic trauma includes multiple broken bones across different parts of the body that involve extensive reconstructive surgery. Severe orthopedic traumas can only be treated by fracture specialists

All 5 Releases


More Releases for Cannabis

Cannabis Market: Study Navigating the Future Growth Outlook | Aphria, Aurora Can …
An off-the-shelf report on Cannabis Market which has been compiled after an in-depth analysis of the market trends prevailing across five geographies (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). Various segments of the market such as type/components/ application/industry verticals/ end-users are analyzed with robust research methodology which includes three step process starting with extensive secondary research to gather data from company profiles, global/regional associations, trade journals, technical
Medical Cannabis Market Size, Growth Rate, COVID-19 Impact, Key Players-Canopy G …
The Latest research study released by DBMR "Global Medical Cannabis Market" with 350+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint and status. This Research Report presents you analysis of market size, share, and growth, trends, and cost structure, statistical and comprehensive data of the global market. A number
Cannabis Infused Products Market Worth Observing Growth|Canopy Growth, Aurora Ca …
Cannabis Infused Products Market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses the market to witness the growth at an annual pace of 22.0% in the forecast period. The growing awareness about the well-being and mental health benefits is driving the market scope of cannabis infused products. Cannabis infused products market is growing with the successive application of marijuana or
Cannabis Market Demand, Competitive Landscape and Outlook by 2027 Key Players - …
Cannabis or Marijuana is a psychoactive drug from the Cannabis plant used for medical or recreational purposes. Cannabis market is expected to reach US$ 153,689.9 Mn in 2027 from US$ 10,838.1 in 2018. The market is estimated to grow with a CAGR of 34.5% from 2019-2027. The report highlights the trends prevalent in the global cannabis market and the factors driving the market along with those that act as deterrents
By 2027, Cannabis Market is reaching 34.5% of CAGR Lead by Aurora Cannabis, Cann …
Global “Cannabis Market” report has implemented a systematic way to evaluate the dynamics of the overall Cannabis market. It provides a comprehensive study comprising of a top-to-bottom research on the market dynamics, including growth drivers, challenges, threats, and potential growth opportunities, with a key focus on the global market and the regional market. In a chapter-wise format, the report evaluates the global supply and demand trends in the global market,
Increasing Legalization of Cannabis Drives the Cannabis Market
The report "Cannabis Market by Product Type (Flower, Concentrates), Compound (THC-Dominant, CBD-Dominant, and Balanced THC & CBD), Application (Medical and Recreational), and Region (North America, South America, Europe, and Row) - Global Forecast to 2023", The cannabis market is projected to grow from USD 10.3 billion in 2018 to USD 39.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 30.7% during the forecast period. The increasing legalization