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The Africa medical cannabis market is expected to grow at a CAGR of around 30% during 2021-2026. Medical cannabis refers to cannabinoid drugs that are extracted from the Cannabis Sativa plant. These drugs are primarily bifurcated into tetrahydrocannabinol (THC) and cannabidiol (CBD). Medical cannabis includes both psychoactive and non-psychoactive ingredients that are precisely used for medicinal purposes. These ingredients help in treating insomnia, inflammation, depression, anxiety, chronic pain, etc. In Africa, the increasing legalization of medical cannabis have led to the faster approvals of THC- and CBD-infused drugs, thereby driving the market growth.
The growing awareness towards several health benefits of medical cannabis for cancer patients in treating poor appetite and weight loss, reducing pain and muscle spasms, and relieving nausea, is augmenting the market in Africa. Furthermore, the increasing popularity of cannabis-infused edible products, such as pills, chocolates, brownies, cookies, etc., for prolonged treatment of psychotic ailments, is also propelling the product demand. Additionally, due to the presence of low-cost labor resources and favorable geographical conditions, many international players are investing in Africa for producing medical cannabis, which will further continue to drive the market growth. Looking forward, IMARC Group expects the Africa medical cannabis market to continue its strong growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the Africa medical cannabis market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, species, derivative, route of administration, application and end user.
Breakup by Species:
Breakup by Derivative:
Breakup by Route of Administration:
Breakup by Application:
Breakup by End User:
Breakup by Country:
The competitive landscape of the industry has also been examined with some of the key players being AgriPharma Pty LTD., Bophelo Bioscience & Wellness (Pty) Ltd. (Halo Labs Inc), Canopy Growth Corporation, Medigrow Africa, Medi Kingdom, MG Health , Pharmaceutical Development Company , Precision Extraction Solutions and Verve Dynamics (Pty) Ltd.
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