Medical Cannabis Market, by Point of Sale, Active
Ingredient, and Therapeutic Application - Global Trends,
and Forecast to 2025
Medicinal cannabis are also known as Medical marijuana, which area used either to treat
disease or to improve their symptoms. The two cannabinoids - delta-9-tetrahydrocannabinol
(THC) and Cannabidiol (CBD) are used in treatment of certain disease or health conditions such
as pain, blood pressure, memory, concentration, appetite, sensory stimulus, muscular problems,
and seizures. The various economies are involved in the activities to legalize the export of
medicinal cannabis product, which in turn is expected to fuel growth of the medical cannabis
market. For instance, in January 2018, the Government of Australia allowed cannabis producers
in the region to export medicinal cannabis and cannabis products in the global market.
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The global medical cannabis market is valued at US$ 3,520.7 million in 2017 and is expected
to witness a CAGR of 24.4% over the forecast period (2017 – 2025).
Market Dynamics:
According to the Medical Marijuana, Inc., an estimated size of the legal marijuana industry in
the U.S. was US$ 7.1 billion in 2016 with increase of 25% Y-o-Y. In 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 recreational use of marijuana. The accelerated pace of legalization of
cannabis (marijuana) in the U.S. has attracted the attention of global investors in the medical
cannabis market. However, lack of formulation of a comprehensive law pertaining to medical
marijuana in some states inhibits patient access to the drug.
Legalization of medicinal cannabis in various economies is expected to drive the market growth:
Some of the major factors driving growth of the market include increasing approval of
medicinal cannabis products and increasing research and development activities. For instance, in
March 2017, a law that allows the use of cannabis plant was signed by the German parliament.
This would in turn allow the healthcare professionals to prescribe medicinal cannabis products