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The Europe medical cannabis market is currently witnessing moderate growth. 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. Looking forward, IMARC Group expects the market to witness moderate growth during 2021-2026.
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe 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, application, end use and route of administration.
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
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