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The Medical Marijuana Market Size was valued at USD 16.1 Billion in 2023 and is expected to reach USD 72.1 Billion by 2032, growing at a CAGR of 18.1% over the forecast period 2024-2032
Growing Legalization and Acceptance across Region Contributing to the Growth of Medical Marijuana Market More than 38 states in the U.S. have legalized medical marijuana by January 2023, which is indicative of an increasing number of patients. As of November 2023, the Connecticut Department of Consumer Protection reported that over $10.3 million in sales were generated from patients purchasing a total of 281,691 products at more than 20 medical marijuana dispensaries across the state. This surge in sales underscores the rising demand for medical marijuana as an alternative treatment option for various health conditions. According to the National Conference of State Legislatures, by April 2023, around 2.1 million people in the U.S. have medical cannabis licenses, and chronic pain misses the most states in the medical cannabis market as the qualifying condition.
Furthermore, studies have shown that continuous use of medical cannabis can lead to a significant reduction in opioid prescriptions, highlighting its potential role in addressing the opioid crisis. The increasing body of research supporting the efficacy of cannabis for pain management and other medical applications is further propelling its acceptance among healthcare providers and patients alike. Additionally, government initiatives aimed at expanding access to medical marijuana are contributing to the market's growth, as evidenced by the ongoing legislative changes across various states.
Market Dynamics
Drivers
An increasing number of countries and states are legalizing medical marijuana, reflecting a shift in societal attitudes and recognition of its therapeutic potential.
The increasing incidence of chronic conditions such as cancer, diabetes, and Alzheimer's disease has heightened the demand for medical marijuana as a complementary treatment option.
Increasing cannabis legalization and societal acceptance of cannabis for medical purposes is one of the primary factors fuelling the medical marijuana market. Over the past decade, the global landscape regarding the legalization of medical marijuana has shifted drastically, with more regions recognizing its therapeutic benefits. As of early 2024, over 40 countries, including Canada, Germany and Israel, had legalized medical marijuana in some form, transforming the availability and study of its medicinal properties. The expanding legal landscape mirrors the increasingly accepted use of marijuana for chronic pain, nausea, epilepsy, and other ailments. For instance, the approval of Epidiolex, a cannabis-derived drug by the FDA in 2018 for treating seizures associated with rare forms of epilepsy, marked a turning point in the medical acceptance of cannabis. Epidiolex is the first FDA-approved drug that contains a purified drug substance derived from marijuana.
Furthermore, societal attitudes towards cannabis have evolved. According to a 2023 Gallup poll, 68% of Americans now support marijuana legalization, with a strong emphasis on its medical applications. This shift is particularly noticeable among older generations who may have once opposed cannabis use but are now open to its medical benefits. The National Institutes of Health (NIH) concluded ‘medical cannabis can reduce chronic pain which makes it appealing for patients with pain who do not respond to conventional pharmaceutical treatment'. The rise in number of individuals seeking cannabis-based treatments along the decreasing societal stigmas serves to drive the demand for medical marijuana which, in turn, translates into further growth of the market.
Restraints:
Despite growing acceptance, medical marijuana remains illegal at the federal level in many countries, leading to complex regulatory environments that can hinder market growth.
Due to its legal status, many financial institutions are reluctant to provide services to cannabis-related businesses, resulting in operational challenges and limited access to capital.
The presence of regulatory and legal challenges is one of the main restraints in the medical marijuana market. Although acceptance of medical marijuana is increasing, its legal status is complicated and often contradictory from area to area. The legal framework is still fragmented, as in many countries medical marijuana is illegal or merely restricted. For instance, while some U.S. states have legalized medical marijuana, it remains illegal at the federal level. Such duality creates an environment where businesses come under uncertain and legal risks, in particular with respect to cross-border transaction, production and distribution. Moreover, there are potentially very strict regulatory environments surrounding medical marijuana, that require organizations to work within very long licensing processes, product testing, and health and safety regulations. The disparate frameworks can vary widely by jurisdiction, creating barriers for companies seeking to do business across market borders. This inconsistency further drives up operational expenses and slows down the market expansion potential.
Segment analysis
By product type
In 2023, the oil and tincture segment dominated the medical marijuana market, capturing a 54% revenue share. A main reason for this popularity of oils and tinctures is their versatility and effectiveness in delivering cannabinoids without the need for smoking. Oils remain the preferred vehicles due to their use and dosing convenience particularly among patients needing continual therapeutic effects. Moreover, clinical studies have shown that non-psychoactive compounds like CBD found in these products can significantly alleviate symptoms such as chronic pain and anxiety.
The flower segment is expected to record a higher compound annual growth rate (CAGR) during the forecast period owing to the rising consumer inclination towards traditional consumption methods along with increasing product launches in flower-centric products. As more states continue to legalize recreational use alongside medical applications, the demand for flower products is expected to rise rapidly.
By application
Chronic pain was the largest application area of the medical marijuana market at 26% revenue share in 2023. The high prevalence of chronic pain conditions affecting millions globally has led to an increased reliance on medical cannabis as a viable treatment option. According to government statistics, around 62 percent of patients who apply for medical cannabis do so for pain relief and only for pain relief. This trend is also supported by some studies that indicate cannabinoids can effectively reduce pain intensity and improve overall quality of life in patients with conditions such as arthritis, fibromyalgia, and neuropathic pain. Moreover, research has shown that medical cannabis patients have lower self-reported pain levels than those using only conventional pharmacological therapy. This segment is projected to continue the highest market share in future, given the increasing knowledge amongst consumers about the potential health benefits of cannabis in treating chronic pain.
Regional analysis
In 2023, North America held the largest share of revenue in the medical marijuana market, accounting for around 74% of total revenue. This dominance comes from prior efforts at legalization as well as an established system of supporting medical and recreational cannabis supply chains. In fact, over the past decade, states within the U.S. have progressed rapidly, implementing regulatory frameworks that allow access to medical marijuana products. Both medical and recreational marijuana are now legal in Canada. The medicinal marijuana market was well-established, and authorised producers offered patients a range of goods.
On the other hand, the Asia Pacific is expected to have the higher CAGR over the forecast period as more acceptance and regulatory alterations in the use of medical cannabis approaches. Countries such as Australia and New Zealand are leading this growth trajectory by implementing supportive policies aimed at expanding access to cannabis-based therapies. Government initiatives promoting research into therapeutic applications further bolster this region's potential for growth.
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Key Players
Key Service Providers/Manufacturers
Canopy Growth Corporation (Tweed, Spectrum Therapeutics) – (Smiths Falls, Canada)
Aurora Cannabis (Aurora Sky, Aurora Drift) – (Edmonton, Canada)
GW Pharmaceuticals (Epidiolex, Sativex) – (Cambridge, UK)
Tilray (Tilray THC, Tilray CBD) – (Nanaimo, Canada)
Cronos Group (Cove, Spinach) – (Toronto, Canada)
Charlotte's Web (Charlotte's Web Hemp Extract, CBD Oil) – (Boulder, USA)
Green Thumb Industries (Incredibles, Dogwalkers) – (Chicago, USA)
Aphria Inc. (Alcanna, Apollon) – (Leamington, Canada)
Hexo Corp. (Hexo Extracts, Redecan) – (Gatineau, Canada)
Columbia Care (Columbia Care CBD) – (New York City, USA)
Organigram Holdings (OGI CBD, Edison Cannabis Co.) – (Moncton, Canada)
MedMen (MedMen Premium Cannabis, MedMen Dispensaries) – (Los Angeles, USA)
Cureleaf (Curaleaf Cannabis, Select CBD) – (Wakefield, USA)
Cronos Group (Peace Naturals, Good Buds) – (Toronto, Canada)
Vireo Health International (Vireo, Mary’s Medicinals) – (Minneapolis, USA)
Trulieve (Trulieve THC, Trulieve CBD) – (Tallahassee, USA)
Liberty Health Sciences (Liberty Dispensary, Liberty CBD) – (Gainesville, USA)
The Green Organic Dutchman (TGOD Organic Cannabis, TGOD CBD) – (Headquarters: Oakville, Canada)
Icanic Brands Company (CaniBrands, Icanic THC) – (Los Angeles, USA)
Harvest Health & Recreation (Harvest CBD, Beekeeper's Naturals) – (Tempe, USA)
Recent developments
In January 2024, New York State published findings indicating that long-term use of medical cannabis significantly reduces opioid prescriptions among chronic pain patients.
The FDA released guidance in June 2023 meant to ease the drug development process for cannabinoids.
In March 2024 Jesse Ventura began selling cannabis edibles through a partnership with Columbia Heights-based Retro Bakery which is producing hemp-derived THC edibles.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | USD 16.1 Billion |
| Market Size by 2032 | USD 72.1 Billion |
| CAGR | CAGR of 18.1% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product Type (Flower, Oil & Tinctures) • By Application (Cancer, Chronic Pain, Diabetes, Depression and Anxiety, Arthritis, Epilepsy, Glaucoma, Migraines, Multiple Sclerosis, Parkinson's Disease, AIDS, Amyotrophic Lateral Sclerosis, Alzheimer’s Disease, Post-Traumatic Stress Disorder (PTSD), Tourettes, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Canopy Growth Corporation, Aurora Cannabis, GW Pharmaceuticals, Tilray, Cronos Group, Charlotte's Web, Green Thumb Industries, Aphria Inc., Hexo Corp., Columbia Care, Organigram Holdings, MedMen, Cureleaf, Vireo Health International, Trulieve, Liberty Health Sciences, The Green Organic Dutchman, Icanic Brands Company, Harvest Health & Recreation |
| Key Drivers | • An increasing number of countries and states are legalizing medical marijuana, reflecting a shift in societal attitudes and recognition of its therapeutic potential. • The increasing incidence of chronic conditions such as cancer, diabetes, and Alzheimer's disease has heightened the demand for medical marijuana as a complementary treatment option. |
| Restraints | • Despite growing acceptance, medical marijuana remains illegal at the federal level in many countries, leading to complex regulatory environments that can hinder market growth. |
Ans. The projected market size for the Medical Marijuana Market is USD 72.1 Billion by 2032.
Ans: The APAC region is growing with a Significant CAGR in the Medical Marijuana Market during the forecast period.
Ans. The CAGR of the Medical Marijuana Market is 18.1% During the forecast period of 2024-2032.
Ans: The major key players in the market are Canopy Growth Corporation, Aurora Cannabis, GW Pharmaceuticals, Tilray, Cronos Group, Charlotte's Web, Green Thumb Industries, Aphria Inc., Hexo Corp., Columbia Care, Organigram Holdings, MedMen, Cureleaf, Vireo Health International, Trulieve, Liberty Health Sciences, The Green Organic Dutchman, Icanic Brands Company, Harvest Health & Recreation
Ans:
Table of Content
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.2 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Patient Incidence and Prevalence (2023)
5.2 Prescription and Dispensary Sales Trends (2023)
5.3 Healthcare Spending on Medical Marijuana (2023)
5.4 Regulatory Approvals and Compliance Trends (2023)
5.5 Adoption Rates and Patient Demographics (2023)
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and supply chain strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Medical Marijuana Market Segmentation, By Product Type
7.1 Chapter Overview
7.2 Flower
7.2.1 Flower Market Trends Analysis (2020-2032)
7.2.2 Flower Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3 Oil & Tinctures
7.3.1 Oil & Tinctures Market Trends Analysis (2020-2032)
7.3.2 Oil & Tinctures Market Size Estimates and Forecasts to 2032 (USD Billion)
8. Medical Marijuana Market Segmentation, By Application
8.1 Chapter Overview
8.2 Cancer
8.2.1 Cancer Market Trends Analysis (2020-2032)
8.2.2 Cancer Market Size Estimates and Forecasts to 2032 (USD Billion)
8.3 Arthritis
8.3.1 Arthritis Market Trends Analysis (2020-2032)
8.3.2 Arthritis Market Size Estimates and Forecasts to 2032 (USD Billion)
8.4 Multiple Sclerosis
8.4.1 Multiple Sclerosis Market Trends Analysis (2020-2032)
8.4.2 Multiple Sclerosis Market Size Estimates and Forecasts to 2032 (USD Billion)
8.5 Chronic Pain
8.5.1 Chronic Pain Market Trends Analysis (2020-2032)
8.5.2 Chronic Pain Market Size Estimates and Forecasts to 2032 (USD Billion)
8.6 Diabetes
8.6.1 Diabetes Market Trends Analysis (2020-2032)
8.6.2 Diabetes Market Size Estimates and Forecasts to 2032 (USD Billion)
8.7 Depression and Anxiety
8.7.1 Depression and Anxiety Market Trends Analysis (2020-2032)
8.7.2 Depression and Anxiety Market Size Estimates and Forecasts to 2032 (USD Billion)
8.8 Epilepsy
8.8.1 Epilepsy Market Trends Analysis (2020-2032)
8.8.2 Epilepsy Market Size Estimates and Forecasts to 2032 (USD Billion)
8.9 Glaucoma
8.9.1 Glaucoma Market Trends Analysis (2020-2032)
8.9.2 Glaucoma Market Size Estimates and Forecasts to 2032 (USD Billion)
8.10 Migraines
8.10.1 Migraines Market Trends Analysis (2020-2032)
8.10.2 Migraines Market Size Estimates and Forecasts to 2032 (USD Billion)
8.11 Parkinson’s Disease
8.11.1 Parkinson’s Disease Market Trends Analysis (2020-2032)
8.11.2 Parkinson’s Disease Market Size Estimates and Forecasts to 2032 (USD Billion)
8.12 AIDS
8.12.1 AIDS Market Trends Analysis (2020-2032)
8.12.2 AIDS Market Size Estimates and Forecasts to 2032 (USD Billion)
8.13 Amyotrophic Lateral Sclerosis
8.13.1 Amyotrophic Lateral Sclerosis Market Trends Analysis (2020-2032)
8.13.2 Amyotrophic Lateral Sclerosis Market Size Estimates and Forecasts to 2032 (USD Billion)
8.14 Alzheimer’s Disease
8.14.1 Alzheimer’s Disease Market Trends Analysis (2020-2032)
8.14.2 Alzheimer’s Disease Market Size Estimates and Forecasts to 2032 (USD Billion)
8.15 Post-Traumatic Stress Disorder (PTSD)
8.15.1 Post-Traumatic Stress Disorder (PTSD) Market Trends Analysis (2020-2032)
8.15.2 Post-Traumatic Stress Disorder (PTSD) Market Size Estimates and Forecasts to 2032 (USD Billion)
8.16 Tourettes
8.16.1 Tourettes Market Trends Analysis (2020-2032)
8.16.2 Tourettes Market Size Estimates and Forecasts to 2032 (USD Billion)
8.17 Others
8.17.1 Others Market Trends Analysis (2020-2032)
8.17.2 Others Market Size Estimates and Forecasts to 2032 (USD Billion)
9. Regional Analysis
9.1 Chapter Overview
9.2 North America
9.2.1 Trends Analysis
9.2.2 North America Medical Marijuana Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.2.3 North America Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.2.4 North America Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.2.5 USA
9.2.5.1 USA Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.2.5.2 USA Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.2.6 Canada
9.2.6.1 Canada Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.2.6.2 Canada Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.2.7 Mexico
9.2.7.1 Mexico Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.2.7.2 Mexico Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3 Europe
9.3.1 Eastern Europe
9.3.1.1 Trends Analysis
9.3.1.2 Eastern Europe Medical Marijuana Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.3.1.3 Eastern Europe Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.3.1.4 Eastern Europe Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.1.5 Poland
9.3.1.5.1 Poland Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.3.1.5.2 Poland Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.1.6 Romania
9.3.1.6.1 Romania Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.3.1.6.2 Romania Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.1.7 Hungary
9.3.1.7.1 Hungary Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.3.1.7.2 Hungary Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.1.8 Turkey
9.3.1.8.1 Turkey Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.3.1.8.2 Turkey Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.1.9 Rest of Eastern Europe
9.3.1.9.1 Rest of Eastern Europe Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.3.1.9.2 Rest of Eastern Europe Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2 Western Europe
9.3.2.1 Trends Analysis
9.3.2.2 Western Europe Medical Marijuana Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.3.2.3 Western Europe Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.3.2.4 Western Europe Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.5 Germany
9.3.2.5.1 Germany Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.3.2.5.2 Germany Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.6 France
9.3.2.6.1 France Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.3.2.6.2 France Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.7 UK
9.3.2.7.1 UK Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.3.2.7.2 UK Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.8 Italy
9.3.2.8.1 Italy Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.3.2.8.2 Italy Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.9 Spain
9.3.2.9.1 Spain Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.3.2.9.2 Spain Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.10 Netherlands
9.3.2.10.1 Netherlands Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.3.2.10.2 Netherlands Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.11 Switzerland
9.3.2.11.1 Switzerland Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.3.2.11.2 Switzerland Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.12 Austria
9.3.2.12.1 Austria Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.3.2.12.2 Austria Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.13 Rest of Western Europe
9.3.2.13.1 Rest of Western Europe Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.3.2.13.2 Rest of Western Europe Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4 Asia Pacific
9.4.1 Trends Analysis
9.4.2 Asia Pacific Medical Marijuana Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.4.3 Asia Pacific Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.4.4 Asia Pacific Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4.5 China
9.4.5.1 China Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.4.5.2 China Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4.6 India
9.4.5.1 India Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.4.5.2 India Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4.5 Japan
9.4.5.1 Japan Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.4.5.2 Japan Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4.6 South Korea
9.4.6.1 South Korea Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.4.6.2 South Korea Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4.7 Vietnam
9.4.7.1 Vietnam Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.2.7.2 Vietnam Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4.8 Singapore
9.4.8.1 Singapore Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.4.8.2 Singapore Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4.9 Australia
9.4.9.1 Australia Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.4.9.2 Australia Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4.10 Rest of Asia Pacific
9.4.10.1 Rest of Asia Pacific Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.4.10.2 Rest of Asia Pacific Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5 Middle East and Africa
9.5.1 Middle East
9.5.1.1 Trends Analysis
9.5.1.2 Middle East Medical Marijuana Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.5.1.3 Middle East Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.5.1.4 Middle East Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.1.5 UAE
9.5.1.5.1 UAE Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.5.1.5.2 UAE Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.1.6 Egypt
9.5.1.6.1 Egypt Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.5.1.6.2 Egypt Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.1.7 Saudi Arabia
9.5.1.7.1 Saudi Arabia Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.5.1.7.2 Saudi Arabia Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.1.8 Qatar
9.5.1.8.1 Qatar Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.5.1.8.2 Qatar Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.1.9 Rest of Middle East
9.5.1.9.1 Rest of Middle East Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.5.1.9.2 Rest of Middle East Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.2 Africa
9.5.2.1 Trends Analysis
9.5.2.2 Africa Medical Marijuana Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.5.2.3 Africa Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.5.2.4 Africa Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.2.5 South Africa
9.5.2.5.1 South Africa Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.5.2.5.2 South Africa Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.2.6 Nigeria
9.5.2.6.1 Nigeria Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.5.2.6.2 Nigeria Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.2.7 Rest of Africa
9.5.2.7.1 Rest of Africa Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.5.2.7.2 Rest of Africa Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.6 Latin America
9.6.1 Trends Analysis
9.6.2 Latin America Medical Marijuana Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.6.3 Latin America Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.6.4 Latin America Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.6.5 Brazil
9.6.5.1 Brazil Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.6.5.2 Brazil Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.6.6 Argentina
9.6.6.1 Argentina Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.6.6.2 Argentina Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.6.7 Colombia
9.6.7.1 Colombia Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.6.7.2 Colombia Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.6.8 Rest of Latin America
9.6.8.1 Rest of Latin America Medical Marijuana Market Estimates and Forecasts, By Product Type (2020-2032) (USD Billion)
9.6.8.2 Rest of Latin America Medical Marijuana Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10. Company Profiles
10.1 Canopy Growth Corporation
10.1.1 Company Overview
10.1.2 Financial
10.1.3 Products/ Services Offered
110.1.4 SWOT Analysis
10.2 Aurora Cannabis
10.2.1 Company Overview
10.2.2 Financial
10.2.3 Products/ Services Offered
10.2.4 SWOT Analysis
10.3 GW Pharmaceuticals
10.3.1 Company Overview
10.3.2 Financial
10.3.3 Products/ Services Offered
10.3.4 SWOT Analysis
10.4 Tilray
10.4.1 Company Overview
10.4.2 Financial
10.4.3 Products/ Services Offered
10.4.4 SWOT Analysis
10.5 Cronos Group
10.5.1 Company Overview
10.5.2 Financial
10.5.3 Products/ Services Offered
10.5.4 SWOT Analysis
10.6 Charlotte's Web
10.6.1 Company Overview
10.6.2 Financial
10.6.3 Products/ Services Offered
10.6.4 SWOT Analysis
10.7 Green Thumb Industries
10.7.1 Company Overview
10.7.2 Financial
10.7.3 Products/ Services Offered
10.7.4 SWOT Analysis
10.8 Aphria Inc.
10.8.1 Company Overview
10.8.2 Financial
10.8.3 Products/ Services Offered
10.8.4 SWOT Analysis
10.9 Hexo Corp.
10.9.1 Company Overview
10.9.2 Financial
10.9.3 Products/ Services Offered
10.9.4 SWOT Analysis
10.10 Columbia Care
10.9.1 Company Overview
10.9.2 Financial
10.9.3 Products/ Services Offered
10.9.4 SWOT Analysis
11. Use Cases and Best Practices
12. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
Key Segments:
By Product Type
Flower
Oil & Tinctures
By Application
Cancer
Chronic Pain
Diabetes
Depression and Anxiety
Arthritis
Epilepsy
Glaucoma
Migraines
Multiple Sclerosis
Parkinson's Disease
AIDS
Amyotrophic Lateral Sclerosis
Alzheimer’s Disease
Post-Traumatic Stress Disorder (PTSD)
Tourettes
Others
Request for Segment Customization as per your Business Requirement: Segment Customization Request
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Request for Country Level Research Report: Country Level Customization Request
Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Product Matrix which gives a detailed comparison of product portfolio of each company
Geographic Analysis
Additional countries in any of the regions
Company Information
Detailed analysis and profiling of additional market players (Up to five)
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The AI in Healthcare Market Size was valued at USD 22.5 Billion in 2023 and will reach USD 370.14 Billion by 2032 & grow at a CAGR of 36.5% by 2024-2032.
The global tinnitus management market, valued at USD 3.45 Billion in 2023, is projected to reach USD 5.02 Billion by 2032, growing at a compound annual growth rate CAGR of 4.44% during the forecast period.
The mRNA Technology Market was valued at USD 35.67 billion in 2023 and is expected to reach USD 76.45 billion by 2032 with a growing CAGR of 8.88% over the forecast period of 2024-2032.
The Dermatology Imaging Devices Market size was valued at USD 2.36 billion in 2023 and is expected to reach USD 7.04 Billion by 2032, growing at a CAGR of 12.93% from 2024-2032.
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