Global Medical Cannabis Based Oil Extract-Infused Products Market, By Product Type (CBD Oil, Medical OTC Products, Nutraceuticals, Pharmaceuticals, Personal Care and Cosmetic Products, Hair Care Products, Personal Care and Cosmetic Products), Source Type (Hemp, Marijuana), Distribution Channel (B2B, B2C), End-use (Medical, Personal Use, Pharmaceuticals, Wellness) – Industry Trends and Forecast to 2029.
Medical Cannabis Based Oil Extract-Infused Products Market Analysis and Size
According to the poll, nearly 13, 400 physicians in Canada supplied prescriptions for an average of 2.1 grammes of marijuana each day to patients. The growing number of scientific trials of cannabis-infused medications for various therapeutic areas, particularly the usage of cannabidiol, is boosting market growth.
Data Bridge Market Research analyses that the medical cannabis based oil extract-infused products market which was USD 11.0 billion in 2021, would rocket up to USD 54.34 billion by 2029, and is expected to undergo a CAGR of 22.1% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Medical Cannabis Based Oil Extract-Infused Products Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (CBD Oil, Medical OTC Products, Nutraceuticals, Pharmaceuticals, Personal Care and Cosmetic Products, Hair Care Products, Personal Care and Cosmetic Products), Source Type (Hemp, Marijuana), Distribution Channel (B2B, B2C), End-use (Medical, Personal Use, Pharmaceuticals, Wellness)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Joy Organics (U.S.), CBD istillery (U.S.), Gaia Botanicals (U.S.), Harmony (U.S.), Floyd’s of Leadville (U.S.), Lazarus Naturals (U.S.), cbd MD (U.S.), Pure Hemp Botanicals (U.S.), ENDOCA(Netherlands), Green Roads (U.S.), Tilray (U.S.), Canopy Growth Corp. (Canada), GW Pharmaceuticals PLC (U.K.), Aurora Cannabis (Canada), Aphria Inc. (Canada), CV sciences Inc. (U.S.)
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Market Opportunities
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Market Definition
Medicinal marijuana (MMJ), often known as medical cannabis, is marijuana and cannabinoids that doctors recommend for their patients. Due to production and political constraints, the use of cannabis as medicine has not undergone thorough testing. As a result, there has been little clinical study to determine the safety and effectiveness of utilising cannabis to treat ailments.
Medical Cannabis Based Oil Extract-Infused Products Market Dynamics
Drivers
- Advancements in research and development
Cannabis is now approved for treating various ailments, including restlessness, muscle tightness, persistent discomfort, and the reduction of vomiting and illness caused by chemotherapy. The majority of businesses are making rapid progress in their research into the potential of therapeutic cannabis and hemp.
- Cannabinol and Tetrahydrocannabinol-modified edibles
CBD and THC-modified edibles are becoming increasingly popular throughout all permitted states. In addition, customers and investors are becoming more interested in infused drinks. The convoluted administrative process for cannabis acceptance can act as a roadblock to industry development. The therapeutic properties of cannabis and the ongoing legalisation of cannabis capsules will serve as opportunities for market expansion.
- Increasing legalization of cannabis
Cannabis makes up a sizable portion of the medical cannabis based oil extract-infused products market. Consumers in the United States provinces where cannabis has been legalised are usually above the age of 50. This demographic profile is predicted to raise cannabis demand in the country due to a higher likelihood of chronic diseases after 50 years of age and the effectiveness of cannabis in treating such conditions. Cannabis's popularity and demand are projected to rise in the future due to ongoing research and standardisation of products for medicinal uses.
Opportunities
Due to the therapeutic advantages of cannabis capsules, medical cannabis is now legal in the United States, and demand is growing significantly. Investors are therefore keen to invest in newly established or well-established plants that have the necessary equipment, skilled labour, and a licence to create cannabis capsules. Existing manufacturers are spending time and resources innovating to produce capsules with the best quality and appropriate doses.
Restraints/Challenges
As a result, cannabis capsules are being produced to ensure precise and calculated dosing of the cannabis-containing medicine combination. A growing number of medical facilities will be able to treat patients with Alzheimer's illness, cancer, epilepsy, glaucoma, PTSD, muscular spasms, etc. thanks to these precise dosages of cannabis capsules.
This medical cannabis based oil extract-infused products market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medical cannabis based oil extract-infused products market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Medical Cannabis Based Oil Extract-Infused Products Market
Like every other market, COVID-19 had an adverse impact on the medical cannabis based oil extract-infused products market. The imposition of lockdown limited consumers from visiting brick-and-mortar shops. However, many cannabis companies began relying heavily on social media and e-commerce platforms to market to consumers during the year. Cannabis retail outlets, producers, manufacturers, distributors, and warehouses were deemed essential services by the Alberta Government on March 30, 2020. As a result, cannabis businesses and services continued to serve Albertans throughout the COVID-19 pandemic.
Recent Development
- In March 2021 - STADA Arzneimittel AG, one of Germany's leading pharmaceutical companies, has entered the medical cannabis based oil extract-infused products market with a deal with MediPharm Labs, a Canadian company, to introduce two flower products and six more in the future.
- In May 2021- TCV Sciences, Inc. announced the launch of PLUSCBDTM calm and sleep gummies, two tasty candies that help individuals go back to their normal routines by supporting healthy stress responses and sleep cycles.
Global Medical Cannabis Based Oil Extract-Infused Products Market Scope
The medical cannabis based oil extract-infused products market is segmented on the basis of product type, source type, 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 Type
- CBD Oil
- Medical OTC Products
- Nutraceuticals
- Pharmaceuticals
- Personal Care
- Cosmetic Products
- Hair Care Products
- Personal Care
- Cosmetic Products
Source Type
- Hemp
- Marijuana
Distribution Channel
- B2B
- B2C
End-use
- Medical
- Personal Use
- Pharmaceuticals
- Wellness
Medical Cannabis Based Oil Extract-Infused Products Market Regional Analysis/Insights
The medical cannabis based oil extract-infused products market is analysed and market size insights and trends are provided by country, product type, source type, end user and distribution channel as referenced above.
The countries covered in the medical cannabis based oil extract-infused products market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the medical cannabis based oil extract-infused products market due to the growing number of geriatric population along with adoption of innovative medical technology.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the rising health awareness among the people and growing demand of advanced medical technology.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Medical Cannabis Based Oil Extract-Infused Products Market Share Analysis
The medical cannabis based oil extract-infused products 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, global presence, 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 medical cannabis based oil extract-infused products market.
Some of the major players operating in the medical cannabis based oil extract-infused products market are:
- Joy Organics (U.S.)
- CBD istillery (U.S.)
- Gaia Botanicals (U.S.)
- Harmony (U.S.)
- Floyd’s of Leadville (U.S.)
- Lazarus Naturals (U.S.)
- cbdMD (U.S.)
- Pure Hemp Botanicals (U.S.)
- ENDOCA(Netherlands)
- Green Roads (U.S.)
- Tilray (U.S.)
- Canopy Growth Corp. (Canada)
- GW Pharmaceuticals PLC (U.K.)
- Aurora Cannabis (Canada)
- Aphria Inc. (Canada)
- CV sciences Inc. (U.S.)
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