Europe Medical Cannabis Market

Market Overview:

The Europe medical cannabis market size reached US$ 1,743 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 6,458 Million by 2028, exhibiting a growth rate (CAGR) of 22.1% during 2023-2028.

Medical cannabis, or medical marijuana, refers to the plant-derived psychotropic drugs used for the treatment of various medical ailments. It is usually sourced from cannabis indica, sativa and hybrid cannabis plants and the active ingredients include tetrahydrocannabinol (THC) and cannabidiol (CBD). Medical cannabis products are manufactured in the form of oils, capsules and other edible products. They are used for treating chronic pain, anxiety, anorexia, muscle spasms and nausea. Apart from this, they are also effective in modulating the immune system, promoting neuroplasticity and improving vascular and digestive functioning.

The increasing prevalence of chronic medical ailments, such as cancer, arthritis, Alzheimer’s and migraine, is one of the key factors creating a positive outlook for the market. Furthermore, the widespread adoption of medical cannabis for pain management is providing a thrust to the market growth. It is usually inhaled, smoked, orally administered or topically applied to numb the pain receptors and provide instant relief to the patients. Additionally, the legalization of medical cannabis in Europe has enhanced the accessibility of the products through healthcare centers and authorized dispensaries, thereby contributing to the market growth. Other factors, including, extensive research and development (R&D) activities for optimizing the use of cannabinoids, along with improvements in the healthcare infrastructure, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Europe medical cannabis market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on species, derivative, application, end use and route of administration.

Breakup by Species:

• Indica
• Sativa
• Hybrid
   

Breakup by Derivative:

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

Breakup by Application:

• Cancer
• Arthritis
• Migraine
• Epilepsy
• Others
   

Breakup by End Use:

• Pharmaceutical Industry
• Research and Development Centres
• Others
   

Breakup by Route of Administration:

• Oral Solutions and Capsules
• Smoking
• Vaporizers
• Topicals
• Others
   

Breakup by Country:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Key Questions Answered in This Report:

• How has the Europe medical cannabis market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Europe medical cannabis market?
• What are the key regional markets?
• What is the breakup of the market based on the species?
• What is the breakup of the market based on the derivative?
• What is the breakup of the market based on the application?
• What is the breakup of the market based on the end use?
• What is the breakup of the market based on the route of administration?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the Europe medical cannabis market and who are the key players?
• What is the degree of competition in the industry?