The global medical cannabis market is estimated at USD 5,448.4 million in 2021 and is expected to have a CAGR of + 24% over the forecast period (2021-2028).
Medical cannabis is also known as medical marijuana, which is used either to treat illnesses or to improve symptoms. The two cannabinoids – delta-9-tetrahydrocannabinol (THC) and cannabidiol (CBD) – are used to treat certain diseases or health conditions, as well as for uses such as pain management, blood pressure, memory, concentration, appetite, sensory stimuli, muscle problems, and seizures. Various countries around the world are involved in legalizing the export of cannabis medicines, which should fuel the growth of the medical cannabis market. For example, in January 2018, the Australian government allowed the country’s cannabis producers to export medical cannabis and cannabis products to the world market.
Cannabis is safer and has fewer serious side effects compared to other treatment options. It is also used in conjunction with other treatments, either to improve their effectiveness or to combat adverse side effects. For example, it is very effective in reducing nausea and increasing appetite in chemotherapy patients. Similarly, it is also used in combination with traditional opioid pain relievers, which allows patients to significantly reduce the dosage and frequency of opioids and achieve greater pain relief.
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Top Medical Cannabis Market Vendors: –
BOL Pharma, Tilray, Medreleaf Corporation, Aurora Cannabis, Inc., Canopy Growth Corporation, Insys Therapeutics, Inc., Aphria, Inc., MGC Pharmaceuticals Limited, GW Pharmaceuticals, plc. And Medical Marijuana Inc.
Medical Cannabis Market Segments by Species
- Cannabis indica
Medical cannabis market segments by derivatives
- Cannabidiol (CBD)
- Tetrahydrocannabinol (THC)
Medical Cannabis Market Segments By Application
- Pharmaceutical industry
- Research and development centers
Medical Cannabis Market Segments by Route of Administration
- Oral solutions
A thorough study of the competitive landscape of the Medical Cannabis market has provided insights into the company profiles, financial condition, recent developments, mergers and acquisitions, and SWOT analysis. It provides a refined view of the classifications, uses, segmentations, specifications, and much more for the medical cannabis market.
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Complete Analysis of Medical Cannabis Market:
- For the 2020-2028 period, a comprehensive assessable analysis of the industry is provided to help investors capitalize on the key market opportunities.
- The key findings and recommendations highlight key advanced industry trends in the global medical cannabis market and enable stakeholders to improve effective long-term policies
- The report provides a complete analysis of the factors driving the market development.
- Analysis of market opportunities for stakeholders by categorizing the high-growth market segments
- The numerous opportunities in the medical cannabis market are also there.
Regionally, the global medical cannabis market has been divided into different regions such as North America, Latin America, Middle East, Africa, Asia-Pacific and Africa. The global medical cannabis market holds the highest market share in the countries. Overall, the overall analysis of the global market helps to make complex business decisions and guide global customers into a successful future.
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