Global Medical Marijuana Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

Industry : Healthcare Date : June 25th, 2018
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The global medical marijuana market is expected to increase from USD 8,280.6 million in 2017, to USD 28,070.0 million by 2024, growing at a CAGR of 19.1% from 2018 to 2024. The global medical marijuana market is mainly driven by the use of marijuana in the treatment of various diseases and government support for legalizing it for medical purposes. The years used for the assessment are as follows;

  • Historical year   : 2014, 2015, 2016
  • Base year            : 2017
  • Forecast period : 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis is based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of concerned domain. The steps involved in the research methodology are;

  • Obtaining historical data of the market based on news, government reports, articles, publications, annual reports, white papers, and other secondary sources.
  • Interacting with key opinion leaders of the market and developing data points based on interaction with them.
  • Study of past trends in the market and their year on year impact on the market size and share.
  • Analyzing the collected data points.
  • Bridging the data points to calculate the total global medical marijuana market and it various segments.
  • Anticipating potential risks.
  • Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the medical marijuana market.
  • Finalizing the overall size and share for the global medical marijuana market. 

OBJECTIVES:

  • To classify and forecast the growth prospect of the global medical marijuana market on the basis of type, application, chemical derivatives, end-use and region.
  • To analyze market trends, opportunity, growth drivers and restraints associated with the global medical marijuana market.
  • To provide historical, current, and future forecast of the market in terms of revenue.
  •  To profile key companies operating in the global medical marijuana market and provide their competitive landscape.

MARKET SCOPE

The research scope for global medical marijuana market is as follows:

By Types 

  • Sativa
  • Indica
  • Hybrid

By Medical Application

  • Glaucoma
  • Inflammatory bowel diseases
  • Chronic Pain
  • Migraine
  • Arthritis
  • Anxiety
  • Insomnia
  • AIDS
  • Others

 By Chemical Derivatives 

  • THC (delta-9-tetrahydrocannabinol)
  • CBD (cannabidiol)
    • CBD Capsules
    • CBD Tinctures or Liquids
    • CBD Topical
  • Hybrid (combination of TCH & CBD)

 By End-User 

  • Pharmaceutical Industry
  • Research & Development Centers
  • Others

 By Region 

  • North America
  • Europe
  • Asia-Pacific
  • Central & South America (CSA)
  • Middle East & Africa (MEA)

Medical Marijuana: An innovative way to a healthy living

The global medical marijuana market is expected to grow significantly from USD 8,280.6 million in 2017 to USD 28,070.0 million in 2024, at a CAGR of 19.1% from 2018 to 2024. Significant demand on account of the medicinal properties of marijuana that are used in the treatment of several chronic diseases has boosted the market growth over the next seven years. In addition, several favorable regulations along with high end research and development have fostered market growth over the forecast period.

Medical marijuana is used as the whole plant or plant extract for the treatment of various diseases. THC (delta-9-tetrahydrocannabinol) is the main active mind-altering (psychoactive) substance found in marijuana plant having medical properties to treat vomiting, nausea, and other medical conditions. THC (delta-9-tetrahydrocannabinol) is also used to treat appetite in patients suffering from AIDS.

Relevant research followed by experiments on medical marijuana has given evidence that it serves as an effective drug for the treatment of various diseases. Hence, the medical marijuana industry is expected to witness growth across the globe in the coming years. After the legalization of medical marijuana in the 29 states of the U.S, a vivid spending on the industry would be followed by other nations in order to meet the developmental growth of their respective healthcare sectors.

Studies on the use of medical marijuana for the treatment of multiple sclerosis and epilepsy have generated positive results. It has emerged as an effective treatment option for symptoms of vomiting, pain, appetite and nausea in cancer patients and has also proved to be a viable treatment option for the management of muscle spasticity and pain in people living with multiple sclerosis. Currently, few countries like U.S. and Australia are funding and encouraging the research and development activities related to the medical marijuana.

Additionally, various legislative actions across the globe have legalized marijuana for medical use. Different authorities for varied regions are responsible for the administration of marijuana use. The International Narcotics Control Board (INCB) is the United Nation’s control body for international drug conventions; which maintains the record of how much cannabis is produced and consumed domestically, as well as the amount of cannabis which is imported or exported. It is mandatory that the permit should be approved, before the trade commences.

Moreover, the willingness of people to invest in their health and seek better treatment options has lead to various innovations in the industry. However, legality of marijuana in various nations is a key restraint to the growth of the market. Furthermore, entry of new market players has intensified the competition in the industry.

Some of the key companies operating in the industry include Cannabis Sativa, Inc; GrowBlox Sciences, Inc.; GW Pharmaceuticals PLC; United Cannabis Corporation; Corbus Pharmaceuticals; Insys Therapeutics, Inc.; Lexaria Corporation; Canopy Growth Corporation; Growblox Sciences, Inc; Aurora Cannabis; AXIM Biotechnologies Inc.; Medical Marijuana, Inc.; Arena Pharmaceuticals; and Cara Therapeutics

mmj market

TABLE OF CONTENTS

CHAPTER 1. Market Scope and Methodology

1.1. Research methodology

1.2. Research scope & assumptions

1.3. List of data sources

CHAPTER 2. Executive Summary

2.1. Medical Marijuana Market – Market Snapshot

CHAPTER 3. Industry Analysis

3.1. Market definition

3.2. Market segmentation

3.3. Key findings of the global medical marijuana market

3.4. Value chain analysis

3.5. Market opportunities

        3.5.1. Augmenting use in the treatment of various diseases

3.6. Market trends

3.6.1. Government approval for medicinal & recreational applications

3.6.2. Rise in the number of clinical trials

3.7. Market dynamics

3.7.1. Market driver analysis

 3.7.1.1. Favorable government regulations regarding medicinal use of marijuana

 3.7.1.2. Rising awareness among people

 3.7.1.3. Increasing use in the pharmaceutical industry

 3.7.1.4. Growing research and development activities

 3.7.1.5. Rise in application across various end use industries

3.7.2. Market restraint analysis

           3.7.2.1. Prevailing legalization issue in major countries

3.7.3. Industry analysis-Porters five forces of analysis

CHAPTER 4. Competitive Outlook

4.1. PESTLE Analysis

4.2. Competitive Analysis

4.2.1. Company market share analysis

4.2.2. Competitive Factors

4.2.3. Strategies Adopted

CHAPTER 5. Global Medical Marijuana Market Size and Forecast (2014 – 2024)

5.1. Global Medical Marijuana Market, By Type (USD Million)

5.1.1. Sativa

5.1.2. Indica

5.1.3. Hybrid

5.2. Global Medical Marijuana Market, By Application (USD Million)

5.2.1. Glaucoma

5.2.2. Inflammatory bowel diseases

5.2.3. Chronic Pain

5.2.4. Migraine

5.2.5. Arthritis

5.2.6. Anxiety

5.2.7. Insomnia

5.2.8. AIDS

5.2.9. Others

5.3. Global Medical Marijuana Market, By Chemical Derivatives (USD Million)

5.3.1. THC (delta-9-tetrahydrocannabinol)

5.3.2. CBD (cannabidiol)

   5.3.2.1. CBD Capsules

   5.3.2.2. CBD Tinctures

   5.3.2.3. CBD Topical

5.3.3. Hybrid

5.4. Global Medical marijuana Market, By End-Use (USD Million)

5.4.1. Pharmaceutical industry

5.4.2. Research & development centers

5.4.3. Others

CHAPTER 6. Global Medical Marijuana Market Size and Forecast, By Region (2014 – 2024)

6.1. North America Medical Marijuana Market (USD Million)

6.1.1. North America Medical Marijuana Market, By Type (USD Million)

6.1.2. North America Medical Marijuana Market, By Application (USD Million)

6.1.3. North America Medical Marijuana Market, By Chemical Derivatives (USD Million)

6.1.3.1. North America Medical Marijuana Market, By CBD (USD Million)

6.1.4. North America Medical Marijuana Market, By End-use (USD Million)

6.1.5. North America Medical Marijuana Market, By Country (USD Million)

  6.1.5.1. U.S.

  6.1.5.2. Canada

  6.1.5.3. Mexico

6.2. Europe Medical Marijuana Market (USD Million)

6.2.1. Europe Medical Marijuana Market, By Type (USD Million)

6.2.2. Europe Medical Marijuana Market, By Application (USD Million)

6.2.3. Europe Medical Marijuana Market, By Chemical Derivatives (USD Million)

           6.2.3.1. Europe Medical Marijuana Market, By CBD (USD Million)

6.2.4. Europe Medical Marijuana Market, By End-use (USD Million)

6.2.5. Europe Medical Marijuana Market, By Country (USD Million)

 6.2.5.1. Germany

 6.2.5.2. France

 6.2.5.3. U.K

 6.2.5.4. Italy

 6.2.5.5. Netherlands

 6.2.5.6. Czech Republic

 6.2.5.7. Croatia

 6.2.5.8. Rest of Europe

6.3. Asia-Pacific Medical Marijuana Market (USD Million)

6.3.1. Asia-Pacific Medical Marijuana Market, By Type (USD Million)

6.3.2. Asia-Pacific Medical Marijuana Market, By Application (USD Million)

6.3.3. Asia-Pacific Medical Marijuana Market, By Chemical Derivatives (USD Million)

           6.3.3.1. Asia-Pacific Medical Marijuana Market, By CBD (USD Million)

6.3.4. Asia-Pacific Medical Marijuana Market, By End-use (USD Million)

6.3.5. Asia-Pacific Medical Marijuana Market, By Country (USD Million)

   6.3.5.1. China

  6.3.5.2. Japan

  6.3.5.3. Australia

  6.3.5.4. India

  6.3.5.5. Rest of Asia-Pacific

6.4. Central & South America (CSA) Medical Marijuana Market (USD Million)

6.4.1. Central & South America (CSA) Medical Marijuana Market, By Type (USD Million)

6.4.2. Central & South America (CSA) Medical Marijuana Market, By Application (USD Million)

6.4.3. Central & South America (CSA) Medical Marijuana Market, By Chemical Derivatives (USD Million)

            6.4.3.1. Central & South America (CSA) Medical Marijuana Market, By CBD (USD Million)

6.4.4. Central & South America (CSA) Medical Marijuana Market, By End-use (USD Million)

6.4.5. Central & South America (CSA) Medical Marijuana Market, By Country (USD Million)

  6.4.5.1. Argentina

  6.4.5.2. Chile

  6.4.5.3. Peru

  6.4.5.4. Rest of CSA

6.5. Middle East & Africa (MEA) Medical Marijuana Market (USD Million)

6.5.1. Middle East & Africa (MEA) Medical Marijuana Market, By Type (USD Million)

6.5.2. Middle East & Africa (MEA) Medical Marijuana Market, By Application (USD Million)

6.5.3. Middle East & Africa (MEA) Medical Marijuana Market, By Chemical Derivatives (USD Million)

6.5.3.1. Middle East & Africa (MEA) Medical Marijuana Market, By CBD (USD Million)

6.5.4. Middle East & Africa (MEA) Medical Marijuana Market, By End-use (USD Million)

6.5.5. Middle East & Africa (MEA) Medical Marijuana Market, By Country (USD Million)

  6.5.5.1. Israel

  6.5.5.2. Rest of MEA

CHAPTER 7. Key Players and Strategic Developments

7.1. GW Pharmaceuticals PLC

7.1.1. Business Overview

7.1.2. Product and Service Offering

7.1.3. Financial Overview

7.1.4. Strategic Developments

7.2. Cannabis Sativa, Inc.

7.2.1. Business Overview

7.2.2. Product and Service Offering

7.2.3. Financial Overview

7.2.4. Strategic Developments

7.3. United Cannabis Corporation

7.3.1. Business Overview

7.3.2. Product and Service Offering

7.3.3. Financial Overview

7.3.4. Strategic Developments

7.4. Corbus Pharmaceuticals

7.4.1. Business Overview

7.4.2. Product and Service Offering

7.4.3. Financial Overview

7.4.4. Strategic Developments

7.5. Insys Therapeutics, Inc

7.5.1. Business Overview

7.5.2. Product and Service Offering

7.5.3. Financial Overview

7.5.4. Strategic Developments

7.6. Lexaria Corporation

7.6.1. Business Overview

7.6.2. Product and Service Offering

7.6.3. Financial Overview

7.6.4. Strategic Developments

7.7. Growblox Sciences, Inc

7.7.1. Business Overview

7.7.2. Product and Service Offering

7.7.3. Financial Overview

7.7.4. Strategic Developments

7.8. Canopy Growth Corporation

7.8.1. Business Overview

       7.8.2. Product and Service Offering

       7.8.3. Financial Overview

      7.8.4. Strategic Developments

7.9. Aurora Cannabis

7.9.1. Business Overview

7.9.2. Product and Service Offering

7.9.3. Financial Overview

7.9.4. Strategic Developments

7.10. AXIM Biotechnologies Inc

7.10.1. Business Overview

7.10.2. Product and Service Offering

7.10.3. Financial Overview

7.10.4. Strategic Developments

7.11. Medical Marijuana, Inc.

7.11.1. Business Overview

7.11.2. Product and Service Offering

7.11.3. Financial Overview

7.11.4. Strategic Developments

7.12. Arena Pharmaceuticals

7.12.1. Business Overview

7.12.2. Product and Service Offering

7.12.3. Financial Overview

7.12.4. Strategic Developments

7.13. Cara Therapeutics

7.13.1. Business Overview

7.13.2. Product and Service Offering

7.13.3. Financial Overview

7.13.4. Strategic Developments

Global Medical Marijuana Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation Forecast 2024