Global Medical Cannabis Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2031

Medical Cannabis Market Analysis

The medical cannabis market has experienced significant growth in recent years, driven by increasing recognition of its therapeutic benefits for various medical conditions. With legalization efforts gaining momentum across multiple regions, the demand for medical cannabis products is on the rise. This market encompasses a wide range of products, including oils, capsules, and edibles, tailored for conditions such as chronic pain, epilepsy, and mental health disorders. Recent developments, such as advancements in cultivation techniques and extraction processes, have improved product quality and efficacy, further fueling market expansion. In addition, growing consumer awareness and acceptance, coupled with supportive government policies, are key factors contributing to the market's positive outlook. As research continues to unveil the potential benefits of cannabis, the medical cannabis market is poised for sustained growth, offering new opportunities for pharmaceutical companies and healthcare providers alike.

Medical Cannabis Market Size

The global medical cannabis market size was valued at USD 21.06 billion in 2023 and is projected to reach USD 108.90 billion by 2031, with a CAGR of 22.80% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Medical Cannabis Market Trends

“Demand for Personalized Cannabis Products”

The medical cannabis market is witnessing transformative trends driven by innovation and evolving consumer preferences. A notable trend is the growing demand for personalized cannabis products, where consumers seek tailored formulations to address specific health conditions and individual needs. Innovations in cannabis extraction and formulation techniques are enabling the development of diverse product offerings, such as targeted oils and infused edibles, that enhance therapeutic effects. In addition, advancements in technology, including the use of artificial intelligence and data analytics in cultivation and supply chain management, are optimizing production processes and ensuring product consistency. Overall, these trends reflect a shift towards more effective, customized medical cannabis solutions, catering to the diverse needs of patients and driving market growth.

Report Scope and Medical Cannabis Market Segmentation  

Определение рынка медицинской марихуаны

Медицинский каннабис относится к использованию растения каннабис и его производных в терапевтических целях. Он охватывает различные продукты, включая масла, капсулы, настойки и местные составы, содержащие каннабиноиды, такие как тетрагидроканнабинол (ТГК) и каннабидиол (КБД). Медицинский каннабис назначают для облегчения симптомов, связанных с различными заболеваниями, включая хроническую боль, эпилепсию, рассеянный склероз, тошноту от химиотерапии и тревожность. Его использование часто регулируется законами, которые различаются в зависимости от региона, и обычно его рекомендуют, когда обычные методы лечения оказались неэффективными.

Динамика рынка медицинской марихуаны

Драйверы

• Растущее принятие и легализация

Растущее признание медицинской марихуаны среди медицинских работников и пациентов, принимающих медицинскую марихуану, является существенным фактором роста рынка. Поскольку исследования продолжают раскрывать терапевтические преимущества каннабиноидов при различных заболеваниях, поставщики медицинских услуг все более склонны рекомендовать каннабис в качестве варианта лечения. Этот сдвиг в восприятии привел к большей осведомленности пациентов и их готовности рассматривать медицинскую марихуану для лечения хронической боли, тревожности и других заболеваний. Более того, легализация медицинской марихуаны во многих регионах еще больше способствовала ее интеграции в основное здравоохранение. Это изменение регулирования узаконивает ее использование и поощряет инвестиции в исследования и разработку продуктов, тем самым расширяя рынок. Ожидается, что совокупный эффект этих факторов будет способствовать значительному росту рынка медицинской марихуаны.

•  Рост распространенности хронических заболеваний

Рост заболеваемости хроническими заболеваниями, включая рак, эпилепсию и рассеянный склероз, создал существенный спрос на эффективные методы лечения боли и терапевтические решения, что значительно увеличило рынок медицинской марихуаны. Пациенты, страдающие от этих заболеваний, часто испытывают сильную боль, дискомфорт и ряд изнурительных симптомов, которые обычные методы лечения не могут адекватно устранить. Медицинская марихуана с ее разнообразным набором каннабиноидов предлагает натуральную альтернативу, которая может облегчить боль и улучшить качество жизни. Поскольку поставщики медицинских услуг все больше осознают потенциал методов лечения на основе каннабиса, все больше пациентов направляются на медицинскую марихуану как на жизнеспособный вариант. Это растущее признание, наряду с продолжающимися исследованиями, демонстрирующими эффективность каннабиса для облегчения симптомов, продолжает стимулировать рост рынка, поскольку пациенты ищут эффективные и целостные подходы к управлению своими заболеваниями.

Возможности

• Интеграция с традиционным здравоохранением

Сотрудничество между компаниями, производящими каннабис, и традиционными поставщиками медицинских услуг представляет собой значительную возможность для роста рынка в секторе медицинской марихуаны. Сотрудничая с профессионалами в области здравоохранения, компании, производящие каннабис, могут повысить легитимность своей продукции и укрепить доверие среди потенциальных пациентов. Такое сотрудничество может привести к разработке образовательных программ и клинических рекомендаций, благодаря чему поставщикам медицинских услуг будет удобнее рекомендовать терапию каннабисом как часть комплексного плана лечения. По мере того, как поставщики медицинских услуг обретают уверенность в эффективности и безопасности медицинской марихуаны, они с большей вероятностью будут выступать за ее использование, в конечном итоге увеличивая доступ пациентов к этим методам лечения. Такая интеграция расширяет рыночный охват продуктов каннабиса и способствует общему принятию медицинской марихуаны в рамках основного здравоохранения, способствуя устойчивому расширению рынка.

• Достижения в области исследований и разработок

Ongoing research into the therapeutic benefits of cannabinoids is unlocking new opportunities in the medical cannabis market. As scientists and healthcare professionals continue to explore the medicinal properties of various cannabinoids, they are discovering innovative applications for conditions ranging from chronic pain and anxiety to neurological disorders. This research has led to the development of new medical cannabis products, expanding the variety of treatment options available to patients. Such advancements cater to diverse patient needs and enhance the efficacy and safety profiles of cannabis-based therapies. As more clinical studies validate the benefits of these products, they are likely to gain acceptance among healthcare providers and patients alike. This expansion of product offerings presents a lucrative opportunity for companies to capture a larger share of the growing medical cannabis market, ultimately improving patient outcomes and satisfaction.

Restraints/Challenges

• Lack of Standardized Regulations

The medical cannabis market faces significant challenges due to the lack of standardized regulations and the varying legal frameworks across different regions. Each jurisdiction has its own rules governing the cultivation, distribution, and sale of medical cannabis, creating a complex landscape for companies to navigate. This regulatory inconsistency often results in confusion and delays in market entry for new players. Companies may spend considerable time and resources understanding local laws, obtaining necessary licenses, and ensuring compliance with diverse regulations. These hurdles can deter potential investors and limit the growth of the market. Consequently, the absence of a unified regulatory approach poses a significant challenge to the expansion and accessibility of medical cannabis products globally.

•  Competition from Traditional Therapies

Established pharmaceutical treatments continue to hold a significant share of the healthcare market, often backed by extensive research, clinical trials, and regulatory approvals. These conventional therapies are widely prescribed by healthcare professionals and have a long-standing reputation for safety and efficacy. As a result, patients and doctors may be hesitant to consider medical cannabis products as viable alternatives, especially in serious conditions like cancer and chronic pain. The familiarity and trust in traditional medications can hinder the adoption of medical cannabis, despite its potential benefits. This reliance on established treatments limits the market growth for cannabis-based therapies, as healthcare professionals may prioritize familiar pharmaceutical options over newer, less understood cannabis products. This restraint creates a challenge for the medical cannabis market to gain traction among patients and healthcare providers.

This 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 market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Medical Cannabis Market Scope

The market is segmented on the basis of product, source, species, derivatives, application, route of administration, treatment type, end user, and distribution channel. The growth amongst these segments will help you analyse 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
• Medical Cannabis Capsules
• Patch
• Whole Flower
• Ground Flower
• Vape Pen
• Dried Medical Cannabis
• Creams & Moisturizers
• Masks & Serum
• Cleanser
• Others

Source

• Natural
• Synthetic

Species

• Cannabis Indica
• Cannabis Sativa
• Hybrid

Application

• Alzheimer’s Disease
• Appetite Loss
• Cancer
• Inflammatory Bowel Diseases
• Eating Disorders
• Epilepsy
• Autism
• Mental Health Conditions
• Multiple Sclerosis
• Pain Management
• Nausea
• Muscle Spasms
• Wasting Syndrome (Cachexia)
• Elevate Mood
• Depression and Sleep Disorders
• Anxiety
• Others

Derivatives

• Cannabidiol (CBD)
• Tetrahydrocannabinol (THC) / Delta-8-Tetrahydrocannabinol
• Cannabinol (CBN)
• Cannabicyclol (CBL)
• Cannabichromene (CBC)
• Cannabigerol (CBG)
• Others

Treatment Type

• Expectorant
• Antiviral
• Analgesic
• Aphrodisiac
• Psychedelic
• Others

Route of Administration

• Oral Solutions and Capsules
• Smoking
• Vaporizers
• Topicals
• Others

End User

• Pharmaceutical Industry
• Research and Development Centers
• Homecare Setting
• Hospitals
• Rehab Centers
• Others

Distribution Channel

• B2B
• B2C

 Medical Cannabis Market Regional Analysis

The market is analysed and market size insights and trends are provided by country, product, source, species, derivatives, application, route of administration, treatment type, end user, and distribution channel as referenced above.

The countries covered in the 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 is expected to dominate the global medical cannabis market due to the increasing investment in medical cannabis. The U.S. is expected to dominate the North America region due to the legalization of medical cannabis use. Germany is expected to dominate the Europe region due to the increasing demand for medical cannabis in emerging markets and expansion. Australia is expected to dominate the Asia-Pacific region due to the presence of key manufacturers and advanced technological processes.

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 such as 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.  

Medical Cannabis Market Share

The 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 market.

Medical Cannabis Market Leaders Operating in the Market Are:

• MediPharm Labs Inc. (Canada)
• Tilray (Canada)
• Aurora Cannabis (Canada)
• JAZZ Pharmaceuticals Inc. (U.K.) (GW Pharmaceuticals plc)
• HEXO Corp. (Canada) (Zenabis Global Ltd)
• Cresco Labs (U.S.)
• Peace Naturals Project Inc. (Canada)
• CANOPY GROWTH CORPORATION (Canada)
• Medical Marijuana, Inc. (U.S.)
• Seed Cellar (U.S.)
• EcoGen Biosciences (U.S.)
• CANNABIS SEEDS USA (U.S.)
• Seeds For Me (U.S.)
• HUMBOLDT SEED COMPANY (U.S.)
• Extractas (U.S.)
• World Class Cannabis Seeds (Crop King Seeds) (Canada)
• BARNEY'S FARM (Netherlands)
• FOLIUM BIOSCIENCES (U.S.)
• PharmaHemp (U.K.)
• Elixinol Global Limited (Australia)
• ENDOCA (Netherlands)
• Harmony (U.K.)
• MARY’S Nutritionals, LLC (U.S.)
• Pure Ratios (U.S.)
• Greenwich Biosciences, Inc. (U.S.)
• Upstate Elevator Supply Co. (U.S.)
• Apothecanna (U.S.)
• BOL Pharma (Israel)
• IDT Australia (Australia)

Latest Developments in Medical Cannabis Market

• In February 2023, Aurora Cannabis Inc., a Canadian company specializing in global cannabis distribution, collaborated with MedReleaf Australia to launch CraftPlant, a new medical cannabis brand for the Australian market. The initial offerings from CraftPlant include three products—Greendae, Navana, and HiVolt—all of which are now available for prescription by doctors. Each strain boasts a high THC concentration and is sourced from premium cultivars developed by Occo, Aurora's leading scientific and genetics company, and will be packaged in 10g canisters produced under strict EU-GMP authorized standards
• In July 2023, Carer, an oncology company in India, announced a partnership with Wholeleaf, a certified manufacturer of medicinal cannabis and cannabidiol. This collaboration aims to improve the overall well-being of cancer patients by offering comprehensive support that includes nutrition for caregivers, physical therapy, and mental health services. With official approval from the Ayush ministry to manufacture and market its products nationwide, CARER and Wholeleaf are combining their services to deliver a holistic solution for cancer care
• In September 2023, Alternaleaf, a clinic recognized for helping Australians obtain medicinal cannabis, announced its expansion into the United Kingdom. Research indicates that England is on track to become the second-largest market for medicinal cannabis in Europe, driven by growing demand. With over 360,000 reported cases of opioid addiction in the UK, experts suggest that medicinal cannabis could serve as a viable alternative to opioids, which are frequently prescribed unnecessarily
• In April 2022, Medi Cane Health Inc. and Dr. Reddy's Laboratories Ltd. launched their medical cannabis product in Germany. This collaboration aims to meet the growing demand for medical cannabis solutions in the region. The introduction of this product marks a significant step in expanding access to therapeutic cannabis options for patients in Germany
• In April 2022, New York City witnessed its first legal marijuana sales, occurring just a month after seven medical marijuana businesses received approval to sell their products to all adults. This milestone signifies a significant shift in the state's cannabis landscape, expanding access beyond medicinal use. The initiative aims to create a regulated market while benefiting local economies and ensuring consumer safety

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