Europe Medical Cannabis Market, By Product (Oil, Dried Medial Cannabis, Medical Cannabis Capsules, Whole Flower, Ground Flower, Vape Pen, Creams & Moisturizer, and Others), Source (Synthetic and Natural), Species (Cannabis Indica, Sativa, and Hybrid), Derivatives (Cannabidiol (CBD), Tetrahydrocannabinol (THC) /Delta-8-Tetrahydrocannabinol, and Others), Application (Pain Management, Anxiety, Muscle Spasms, Nausea, Appetite Loss, Cancer, Arthritis, Alzheimer's Disease/Migranes, Epilepsy, Depression and Sleep Disorders, Multiple Sclerosis, Autism, Mental Health Conditions, Elevate Mood, and Others), Route of Administration (Oral Solutions and Capsules, Smoking, Vaporizers, Topicals, and Others), End User (Pharmaceutical Industry, Research and Development Centers, Homecare Setting, Hospital, Rehab Centers, and Others), Distribution Channel (B2B and B2C) - Industry Trends and Forecast to 2031.
Europe Medical Cannabis Market Analysis and Insights
Legal cannabis is one of the fastest-growing industries in European states, with major implications for food and beverage, textile, chemical, and many other industries. Hemp seeds have been used as a nutritional food for thousands of years. These seeds contain very few levels of THC (δ-9-tetrahydrocannabinol), and hence, they are different from medicinal marijuana.
Data Bridge Market Research analyzes that the medical cannabis market is expected to grow at a CAGR of 33.6% in the forecast period of 2024 to 2031 and is expected to reach USD 24,646.06 million by 2031 from USD 2,625.67 million by 2023.
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Product (Oil, Dried Medial Cannabis, Medical Cannabis Capsules, Whole Flower, Ground Flower, Vape Pen, Creams & Moisturizer, and Others), Source (Synthetic and Natural), Species (Cannabis Indica, Sativa, and Hybrid), Derivatives (Cannabidiol (CBD), Tetrahydrocannabinol (THC) /Delta-8-Tetrahydrocannabinol, and Others), Application (Pain Management, Anxiety, Muscle Spasms, Nausea, Appetite Loss, Cancer, Arthritis, Alzheimer's Disease/Migranes, Epilepsy, Depression and Sleep Disorders, Multiple Sclerosis, Autism, Mental Health Conditions, Elevate Mood, and Other), Route of Administration (Oral Solutions and Capsules, Smoking, Vaporizers, Topicals, and Others) End User (Pharmaceutical Industry, Research and Development Centers, Homecare Setting, Hospital, Rehab Centers, Others), Distribution Channel (B2B and B2C)
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Countries Covered
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Germany, France, U.K., Spain, Italy, Turkey, Netherlands, Belgium, Switzerland, Greece, Luxembourg, and Rest of Europe
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Market Players Covered
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Tilray, Althea Company Pty Ltd (A subsidiary of Althea Group Holdings Limited), PharmaHemp, Aurora Cannabis Inc., CANOPY GROWTH CORPORATION, Jazz Pharmaceuticals, Inc., EcoGen Biosciences, GRASS & CO., CANNARAY, and Sanity Group GmbH among others
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Europe Medical Cannabis Market Definition
Cannabis is a psychoactive drug that is derived from the cannabis plant of the Cannabaceae family. For several years, it has been used medicinally. It has a wide range of applications in the treatment of various diseases, including chronic pain, cancer, depression, diabetes, arthritis, glaucoma, epilepsy, migraines, AIDS, and Alzheimer's among others.
Europe Medical Cannabis Market Dynamics
Drivers
- Rise in the Geriatric Population
The growing geriatric population across the globe is more susceptible to chronic illness, which requires more physician visits. The steadily aging population suffers from various health conditions, including diabetes, depression, and dementia, among others. Medical cannabis has the properties to treat these diseases, and therefore, the growing population is playing a significant role.
- Rise in Incidence of Diseases that Require the Use of Cannabis
Chronic diseases are common health conditions around the world. Globally, one in three adults suffers from chronic conditions. Neurological diseases have affected the health and quality of life of many citizens. Chronic neurological diseases such as Alzheimer's disease, cancer, inflammatory bowel disease, and epilepsy can lead to hospitalization, long-term disability, reduced quality of life, and death.
Cannabis is a generic term used to denote the several psychoactive preparations of the plant Cannabis sativa. Cannabis has been used for medicinal or recreational purposes. Since cannabinoids react with receptors in the nervous system, researchers believe cannabinoids may be helpful in treating other neurologic conditions. Medical cannabis is safe and effective for improving symptoms such as pain, sleep disorders, and anxiety due to chronic diseases in older adults.
Opportunities
- Strategic Initiatives by Market Players
The need for medications to treat knee disorders in Europe has increased due to the rise in prevalence and incidence of chronic knee disorders, advanced therapies for knee osteoarthritis and meniscal injuries, and unmet medical needs. The factors (such as the rise in incidence, cases of chronic knee disorders, and availability of advanced therapies) enhance the necessity for orthopedic rehabilitation therapy, and to achieve the market demand, minor and major market players are utilizing various strategies.
- Novel Product Development with Increasing Research and Development (R&D) Activities
Vigorous growth in the demand for cannabis with legalization has increased the need to come up with better product strains and delivery systems. This has led many companies to conduct research and development activities to check the genetic improvement strategies for cannabis.
The companies are extremely focused on developing large-yielding varieties, improved herbicide tolerance, low THC content, and better harvesting and market qualities of cannabis crops. As the strains are improved, this will lead to the production of a better quality of cannabis, and this will create more demand for good quality seeds. Hence, novel product development is expected to act as an opportunity for the market.
Restraints/Challenges
• Long Term and Short Term Side Effects Related to the Use of Cannabis and Cannabis Overuse
Orthopedic specialists observe certain risks while using the implants and consuming the medications. The knee replacement surgeries deliver complications that arise from surgery or a faulty implant. The implant becoming loose is one of the most severe complications after knee surgery, and pain is the most common one. Loosening can cause bone fractures, instability, and serious falls. Almost all serious complications require revision surgery. The risks faced are mechanical risks, knee implant loosening, and physical pain.
Marijuana is the second most commonly used psychotropic drug after alcohol. Smoking THC-rich resins, which are extracted from the cannabis plant, is on the rise, and it has caused severe emergency problems for consumers.
- Shortage of Skilled Personnel
The cannabis industry is not only facing supply shortages, product restrictions, and stringent regulations but also the skilled personnel which is required to run the industry smoothly. The cannabis industry deals with emerging candidate concerns and the shortage of skilled personnel. From the stigma of working with previously banned substances to expertise and security, all these challenges are faced by the industry.
Recent Development
- In May 2020, Tilray announced that it had received GMP certification by European Union standards, which allows the facility to manufacture medical cannabis extracts in-house and export finished medical cannabis products. This helped the company to expand its business
- In February 2022, Sanity Group GmbH, a business segment of Sanity Medical, formed an agreement with the telemedicine platform Telaleaf to strengthen telemedicine in cannabis therapy in Germany
Europe Medical Cannabis Market Scope
The Europe medical cannabis market is segmented on the basis of product, source, species, derivatives, application, route of administration, end user, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Oil
- Dried Medical Cannabis
- Medical Cannabis Capsules
- Vape Pen
- Whole Flower
- Creams & Moisturizer
- Ground Flower
- Others
On the basis of product, the market is segmented into oil, medical cannabis capsules, whole flower, ground flower, vape pen, dried medical cannabis, creams & moisturizer, and others.
Source
- Natural
- Synthetic
On the basis of source, the market is segmented into synthetic and natural.
Species
- Sativa
- Hybrid
- Cannabis Indica
On the basis of species, the market is segmented into sativa, hybrid, and cannabis indica.
Derivatives
- Cannabidiol (CBD)
- Tetrahydrocannabinol (THC)/Delta-8-Tetrahydrocannabinol
- Others
On the basis of derivatives, the market is segmented into Cannabidiol (CBD), Tetrahydrocannabinol (THC)/Delta-8-Tetrahydrocannabinol, and others.
Application
- Pain Management
- Anxiety
- Muscle Spasms
- Nausea
- Appetite Loss
- Cancer
- Arthritis
- Alzheimer's Disease/Migranes
- Epilepsy
- Depression and Sleep Disorders
- Multiple Sclerosis
- Autism
- Mental Health Conditions
- Elevate Modd
- Others
On the basis of application, the market is segmented into pain management, anxiety, muscle spasms, nausea, appetite loss, cancer, arthritis, alzheimer's disease/migranes, epilepsy, depression and sleep disorders, multiple sclerosis, autism, mental health conditions, elevate modd, and others.
Route of Administration
- Oral Solution and Capsules
- Smoking
- Topicals
- Vaporizers
- Others
On the basis of route of administration, the market is segmented into oral solution and capsules, smoking, topicals, vaporizers, and others.
End User
- Homecare Setting
- Hospital
- Rehab Centers
- Pharmaceutical Industry
- Research and Development Centers
- Others
On the basis of end user, the market is segmented into homecare setting, hospital, rehab centers, pharmaceutical industry, research and development centers, and others.
Distribution Channel
- B2C
- B2B
On the basis of distribution channel, the market is segmented into B2C and B2B.
Europe Medical Cannabis Market: Regional Analysis/Insights
The Europe medical cannabis market is segmented on the basis of product, source, species, derivatives, application, route of administration, end user, and distribution channel.
The countries covered in the Europe medical cannabis market report are Germany, France, U.K., Spain, Italy, Turkey, Netherlands, Belgium, Switzerland, Greece, Luxembourg, and rest of Europe.
Germany is expected to dominate the market due to a rise in knee osteoarthritis, knee arthroplasty surgeries, and various orthopedic centers in Germany.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Share Analysis: Europe Medical Cannabis Market
The Europe medical cannabis market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the Europe medical cannabis market.
Some of the major players operating in the Europe medical cannabis market are Tilray, Althea Company Pty Ltd (A subsidiary of Althea Group Holdings Limited), PharmaHemp, Aurora Cannabis Inc., CANOPY GROWTH CORPORATION, Jazz Pharmaceuticals, Inc., EcoGen Biosciences, GRASS & CO., CANNARAY, and Sanity Group GmbH among others.
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