Medical Cannabis Market - Global Trends and Forecasts to 2030: Lucrative Opportunities with the Increasing Adoption by Medicinal and Pharmaceutical Industries - ResearchAndMarkets.com

The "Medical Cannabis Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F" report has been added to ResearchAndMarkets.com's offering.

The Medical Cannabis Market was valued at USD 28.54 Billion in 2024, and is expected to reach USD 87.41 Billion by 2030, rising at a CAGR of 20.51%

This substantial growth is driven by increased government funding, a rise in research and development initiatives, and expanding acceptance of medical cannabis worldwide. Medical cannabis refers to the therapeutic use of the cannabis plant or its derivatives to address various medical conditions such as chronic pain, anxiety, seizures, and nausea.

The market encompasses a broad spectrum of products, including dried flower, oils, capsules, tinctures, and edibles, which can be consumed in different ways based on patient needs. One of the pivotal factors fueling market expansion is the growing societal and medical acceptance of cannabis as a valid treatment alternative. The rise in favorable research outcomes and patient testimonials is further accelerating adoption.

Key Market Drivers

Regulatory Advancements and Legalization

The advancement of medical cannabis legislation globally is a key force behind market growth. Countries such as Canada, Germany, and Australia, along with numerous U.S. states, have implemented legal structures that support medical cannabis usage. For instance, in the U.S., 36 states and 4 territories have authorized its use for medical or recreational purposes. Canada's longstanding legalization, dating back to 2001 and reinforced by the 2018 Cannabis Act, has cultivated a stable regulatory environment conducive to market expansion.

Key Market Challenges

Limited Clinical Evidence and Research Constraints

While medical cannabis continues to gain traction, a major barrier is the insufficient clinical data validating its effectiveness for various medical issues. Though initial research and anecdotal reports suggest therapeutic promise, extensive clinical studies are essential for determining standardized dosages, safety measures, and treatment efficacy. Regulatory obstacles, especially in regions like the United States where cannabis is categorized as a Schedule I substance, further impede research progression. This classification restricts study approvals and slows the accumulation of conclusive scientific evidence, making it harder for physicians to prescribe cannabis and for patients to receive consistent, data-backed treatment.

Key Market Trends

Technological Innovations and Product Diversification

The medical cannabis sector is rapidly evolving through technological innovations that enable the creation of varied product types and delivery systems. New offerings such as cannabis-based edibles, tinctures, oils, and topicals are emerging to meet diverse patient demands. These advancements not only broaden consumer choice but also support more precise and personalized medical treatments.

Key Attributes:

Report Scope:

Key Market Players

• Canopy Growth Corporation.
• Aphria, Inc.
• Maricann Group, Inc.
• Tikun Olam - Cannabit Pharmaceuticals Ltd.
• MedReleaf Corporation
• GW Pharmaceuticals plc.
• Cannabis Sativa, Inc.
• Medical Marijuana, Inc.
• Aurora Marijuana Inc.
• Cronos Group Inc

Market Trends & Developments

• New Product Development
• Increasing use of Medical Cannabis by the medicinal and pharmaceutical industries.

Clinical Trial Analysis

• Ongoing Clinical Trials
• Completed Clinical Trials
• Terminated Clinical Trials
• Breakdown of Pipeline, By Development Phase
• Breakdown of Pipeline, By Status
• Breakdown of Pipeline, By Study Type
• Breakdown of Pipeline, By Region
• Clinical Trials Heat Map

Medical Cannabis Market, By Product Type:

• Buds/Marijuana Flower
• Cannabis Extract

Medical Cannabis Market, By Active Ingredients:

• Tetrahydrocannabinol (THC)
• Cannabidiol (CBD)
• Others

Medical Cannabis Market, By Distribution Channel:

• B2B
• B2C

Medical Cannabis Market, By Application:

• Chronic Pain
• Mental Disorders
• Cancer
• Epilepsy
• Others

Medical Cannabis Market, By End User Industry:

• Pharmaceutical & Biotechnology Companies
• Academic & Research Institutions
• Others

Medical Cannabis Market, By Region:

• North America
• United States
• Mexico
• Canada
• Europe
• France
• Germany
• United Kingdom
• Italy
• Spain
• Asia-Pacific
• China
• India
• South Korea
• Japan
• Australia
• South America
• Brazil
• Argentina
• Colombia
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE

For more information about this report visit https://www.researchandmarkets.com/r/ub7kct

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