- Cannabidiol
- Tetrahydrocannabinol
- Others
Medical Cannabis Market size was valued at USD 8,432.25 million in 2023 and is expected to reach USD 37,159.76 million by 2030, at a CAGR of 23.6% from 2024-2030. Due to the increase in the prevalence of cancer and other chronic diseases across the globe. For instance, according to the World Health Organization 2018, about 9.6 Mn deaths occurred due to cancer throughout the world. Moreover, a rise in R&D activities for the development of newer cannabis products, rapid legalization of cannabis in developed and developing countries, increase in adoption of medical cannabis among healthcare professionals, and less adverse effects with cannabis compared with other therapeutics are expected to bolster the market over the forecast years. However, stringent regulatory framework, approval for legal marijuana in limited countries, lack of testing standards for medical cannabis, and lack of awareness about medical cannabis in underdeveloped countries will hinder the growth of the market over the forecast years. This report studies market dynamics elaborately to identify the current trends & drivers, future opportunities, and possible challenges to the key stakeholders operating in the market. In addition, the global medical cannabis market report includes human demographics; regulatory scenario, and competition analysis with a vividly illustrated competition dashboard to assess the market competition. Moreover, PBI analyzed the global market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
Study Period
2024-2030Base Year
2023CAGR
23.6%Largest Market
EuropeFastest Growing Market
North-America
Rapid legalization of cannabis for the treatment of chronic diseases in developed and developing countries is a major factor surge the growth of medical cannabis market over the forecast timeframe. Cannabis is more effective for chemotherapy patients to reduce the nausea and vomiting and increase the appetite that enhance the treatment more tolerable. Moreover, at present, 33 US states marketing the medical cannabis with $10.4 billion in legal sales nationally in 2018. In addition, in March 2017, Germany legalized the medical cannabis after passing a bill by parliamentarians. Additionally, in 2013, Czech Republic legalized the medical marijuana for the patients suffering with chronic pain.
By Product Type
By Application
By Distribution Channel
The medical cannabis market is projected to expand at a CAGR of 23.6% during the forecast period
Green Relief Inc, Cannabis Sativa, Inc, Vico Cannabis, Inc, Chronos Group, Inc, Organisms Holding, Inc.
North America is the fastest-growing region for medical cannabis market
1. Executive Summary |
2. Global Medical Cannabis Market Introduction |
2.1.Global Medical Cannabis Market - Taxonomy |
2.2.Global Medical Cannabis Market - Definitions |
2.2.1.Product Type |
2.2.2.Application |
2.2.3.Distribution Channel |
2.2.4.Region |
3. Global Medical Cannabis Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Product Landscape |
3.6. New Product Launches |
3.7. Impact of COVID 19 on Market |
4. Global Medical Cannabis Market Analysis, 2018-2022 and Forecast 2023-2029 |
4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5. Global Medical Cannabis Market By Product Type, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
5.1. Cannabidiol |
5.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Tetrahydrocannabinol |
5.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
5.3. Others |
5.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.3.3. Market Opportunity Analysis |
6. Global Medical Cannabis Market By Application, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
6.1. Nausea and Vomiting |
6.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Pain |
6.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Epilepsy |
6.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. Multiple Sclerosis |
6.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
6.5. Arthritis |
6.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.5.3. Market Opportunity Analysis |
6.6. Others |
6.6.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.6.3. Market Opportunity Analysis |
7. Global Medical Cannabis Market By Distribution Channel, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
7.1. Hospital Pharmacies |
7.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Retail Pharmacies |
7.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. Others |
7.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
8. Global Medical Cannabis Market By Region, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
8.1. North America |
8.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Europe |
8.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
8.3. Asia Pacific (APAC) |
8.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.3.3. Market Opportunity Analysis |
8.4. Middle East and Africa (MEA) |
8.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.4.3. Market Opportunity Analysis |
8.5. Latin America |
8.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.5.3. Market Opportunity Analysis |
9. North America Medical Cannabis Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
9.1. Product Type Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.1.1.Cannabidiol |
9.1.2.Tetrahydrocannabinol |
9.1.3.Others |
9.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.2.1.Nausea and Vomiting |
9.2.2.Pain |
9.2.3.Epilepsy |
9.2.4.Multiple Sclerosis |
9.2.5.Arthritis |
9.2.6.Others |
9.3. Distribution Channel Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.3.1.Hospital Pharmacies |
9.3.2.Retail Pharmacies |
9.3.3.Others |
9.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.4.1.United States of America (USA) |
9.4.2.Canada |
10. Europe Medical Cannabis Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
10.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.1.1.Cannabidiol |
10.1.2.Tetrahydrocannabinol |
10.1.3.Others |
10.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.2.1.Nausea and Vomiting |
10.2.2.Pain |
10.2.3.Epilepsy |
10.2.4.Multiple Sclerosis |
10.2.5.Arthritis |
10.2.6.Others |
10.3. Distribution Channel Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.3.1.Hospital Pharmacies |
10.3.2.Retail Pharmacies |
10.3.3.Others |
10.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.4.1.Germany |
10.4.2.France |
10.4.3.Italy |
10.4.4.United Kingdom (UK) |
10.4.5.Spain |
10.4.6.Rest of EU |
11. Asia Pacific (APAC) Medical Cannabis Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
11.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.1.1.Cannabidiol |
11.1.2.Tetrahydrocannabinol |
11.1.3.Others |
11.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.2.1.Nausea and Vomiting |
11.2.2.Pain |
11.2.3.Epilepsy |
11.2.4.Multiple Sclerosis |
11.2.5.Arthritis |
11.2.6.Others |
11.3. Distribution Channel Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.3.1.Hospital Pharmacies |
11.3.2.Retail Pharmacies |
11.3.3.Others |
11.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.4.1.China |
11.4.2.India |
11.4.3.Australia and New Zealand (ANZ) |
11.4.4.Japan |
11.4.5.Rest of APAC |
12. Middle East and Africa (MEA) Medical Cannabis Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
12.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.1.1.Cannabidiol |
12.1.2.Tetrahydrocannabinol |
12.1.3.Others |
12.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.2.1.Nausea and Vomiting |
12.2.2.Pain |
12.2.3.Epilepsy |
12.2.4.Multiple Sclerosis |
12.2.5.Arthritis |
12.2.6.Others |
12.3. Distribution Channel Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.3.1.Hospital Pharmacies |
12.3.2.Retail Pharmacies |
12.3.3.Others |
12.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.4.1.GCC Countries |
12.4.2.South Africa |
12.4.3.Rest of MEA |
13. Latin America Medical Cannabis Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
13.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.1.1.Cannabidiol |
13.1.2.Tetrahydrocannabinol |
13.1.3.Others |
13.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.2.1.Nausea and Vomiting |
13.2.2.Pain |
13.2.3.Epilepsy |
13.2.4.Multiple Sclerosis |
13.2.5.Arthritis |
13.2.6.Others |
13.3. Distribution Channel Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.3.1.Hospital Pharmacies |
13.3.2.Retail Pharmacies |
13.3.3.Others |
13.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.4.1.Brazil |
13.4.2.Mexico |
13.4.3.Rest of LA |
14. Competition Landscape |
14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
14.2.1.Canopy Growth Corporation |
14.2.2.Aurora Medical Cannabis Inc. |
14.2.3.GW Pharmaceuticals |
14.2.4.Cannimed, Ltd. |
14.2.5.Aphria Inc. |
14.2.6.Emerald Health Ltd. |
14.2.7.Tilray Inc. |
14.2.8.Medreleaf Corporation |
14.2.9.Medical Marijuana, Inc. |
14.2.10.Insys Therapeutics, Inc. |
14.2.11.Green Relief Inc. |
14.2.12.Cannabis Sativa, Inc. |
14.2.13.Vico Cannabis, Inc. |
14.2.14.Chronos Group, Inc. |
14.2.15.Organisms Holding, Inc. |
14.2.16.Curaleaf Holdings, inc. |
15. Research Methodology |
16. Appendix and Abbreviations |