Medical Cannabis Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023

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The global medical cannabis market size was estimated to be more than US$ 11 Billion in 2017. The market value is further expected to reach around US$ 37 Billion by 2023, exhibiting a CAGR of around 22% during 2017-2023. Cannabis is a psychoactive drug which is derived from the cannabis plant of the Cannabaceae family. It has been used medicinally for several years in ancient Indian, Chinese, Egyptian and Islamic cultures. Nowadays, cannabis finds application in the treatment of a wide range of diseases and symptoms including cancer, chronic pain, depression, arthritis, diabetes, glaucoma, migraines, epilepsy, MS, AIDS, ALS, Alzheimer’s, PTSD, Parkinson’s, Tourette’s, etc. Owing to its therapeutic benefits, cannabis has been approved for medical use in numerous countries, with varying degrees of legal restriction. Some of these countries include Argentina, Brazil, Canada, Chile, Colombia, Czech Republic, Germany, Italy, Mexico, Spain, United Kingdom, United States, Uruguay, etc.

Global Medical Cannabis Market Drivers:

  • Cannabis is safer and has less severe side effects in comparison to other treatment options. It also finds usage along with other treatments either to enhance their effect or to combat negative side effects. For instance, cannabis is very effective in reducing nausea and increasing appetite among the chemotherapy patients, making the agonizing treatment more tolerable. Similarly, it is also used in combination with traditional opioid painkillers, which enables patients to significantly reduce the dosage and frequency of opioids, and also imparts greater pain relief.
  • A steadily rising ageing population has also played an significant role in driving the demand for medical cannabis as geriatric patients are more likely to develop chronic illnesses and require more physician visits.
  • Clinical trials, R&D activities and commercialization of cannabis-based indications are further expected to catalyze the growth of the market.
  • Although expenditure on health products are less susceptible to fluctuations in consumer’s expenditure, the uptake of medical marijuana is liable to changes in disposable income due to its unconventional nature.  As a result, we expect increasing disposable incomes to create a positive impact on the demand of medical cannabis.


Breakup by Species:

On the basis of species, the market has been segmented as Indica, Sativa and hybrid. Currently, Indica dominates the market, holding the largest share. It is often used in the treatment of insomnia, relaxing the muscles, and relieving body pains, headaches and migraines.

Breakup by Derivatives:

Based on derivatives, the market has been divided into Cannabidiol (CBD), Tetrahydrocannabinol (THC) and others. CBD is majorly used for medical purposes due to its non-psychotic effect and low levels of toxicity, whereas, THC is utilised to reduce the side-effects of AIDS and cancer treatment.

Breakup by Application:

The market has also been divided on the basis of application, wherein, cancer represents the leading category. Other major applications of cannabis include arthritis, migraine, epilepsy, etc.

Breakup by End-Use:

On the basis of end-use, the market has been segregated into the pharmaceutical industry, research and development centers, and others. Currently, the pharmaceutical industry represents the biggest end-user.

Breakup by Route of Administration:

Based on route of administration, the market has been categorized into oral solutions and capsules, smoking, vaporizers, topicals and others. Oral solutions and capsules represent the biggest segment, accounting for the largest market share. 

Regional Insights:

On a geographical front, North America enjoys the leading position in the medical cannabis market. Recent legalization of cannabis in North America for both recreational and medical purposes has been a major driver of the market growth. Other key regions include Europe, Asia Pacific, Latin America, and Middle East and Africa.

Competitive Landscape:

The report has also examined the competitive landscape of the medical cannabis market. Some of the major players include:

  • Canopy Growth Corporation
  • GW Pharmaceuticals
  • Aurora Cannabis, Inc.
  • Aphria Inc.
  • MedReleaf Corporation
  • Insys Therapeutics, Inc.
  • CanniMed Therapeutics, Inc.
  • Cara Therapeutics, Inc.    
  • United cannabis Corporation


This report provides a deep insight into the global medical cannabis market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the medical cannabis market in any manner.

Key Questions Answered in This Report:

  • How has the global medical cannabis market performed so far and how will it perform in the coming years?
  • What are the key regions in the global medical cannabis industry?
  • Which are the popular species in the global medical cannabis market?
  • What are the key derivatives in the global medical cannabis industry?
  • What are the various applications of medical cannabis?
  • Who are the major end-users for medical cannabis?
  • What are the major routes of administration in the global medical cannabis industry?
  • What are the various stages in the value chain of the medical cannabis industry?
  • What are the key driving factors and challenges in the global medical cannabis market?
  • What is the structure of the global medical cannabis industry and who are the key players?
  • What is the degree of competition in the global medical cannabis market?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Medical Cannabis Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Market Breakup by Species
    5.4    Market Breakup by Derivative
    5.5    Market Breakup by Application
    5.6    Market Breakup by End-Use
    5.7    Market Breakup by Route of Administration
    5.8    Market Breakup by Region
    5.9    Market Forecast
    5.10    SWOT Analysis
        5.10.1    Overview
        5.10.2    Strengths
        5.10.3    Weaknesses
        5.10.4    Opportunities
        5.10.5    Threats
    5.11    Value Chain Analysis
    5.12    Porters Five Forces Analysis
        5.12.1    Overview
        5.12.2    Bargaining Power of Buyers
        5.12.3    Bargaining Power of Suppliers
        5.12.4    Degree of Competition
        5.12.5    Threat of New Entrants
        5.12.6    Threat of Substitutes
    5.13    Key Success and Risk Factors
6    Market Breakup by Species
    6.1    Indica
    6.2    Sativa
    6.3    Hybrid
7    Market Breakup by Derivative
    7.1    Cannabidiol (CBD)
    7.2    Tetrahydrocannabinol (THC)
    7.3    Others
8    Market Breakup by Application
    8.1    Cancer
    8.2    Arthritis
    8.3    Migraine
    8.4    Epilepsy
    8.5    Others
9    Market Break up by End-Use
    9.1    Pharmaceutical Industry
    9.2    Research and Development Centres
    9.3    Others
10    Market Breakup by Route of Administration
    10.1    Oral Solutions and Capsules
    10.2    Smoking
    10.3    Vaporizers
    10.4    Topicals
    10.5    Others
11    Market Break up by Region
    11.1    North America
        11.1.1    United States
        11.1.2    Canada
    11.2    Europe
        11.2.1    Germany
        11.2.2    Italy
        11.2.3    France
        11.2.4    Netherlands
        11.2.5    Spain
    11.3    Latin America
    11.4    Asia Pacific
    11.5    Middle East and Africa
12    Overview of Clinical Research Suggesting the Benefits of Medical Cannabis Across Various Indications
    12.1    Alzheimer’s Disease
    12.2    Autism 
    12.3    Cancer
    12.4    Chronic Pain
    12.5    Epilepsy
    12.6    Migraine
    12.7    Digestive Disorders
    12.8    Multiple Sclerosis 
    12.9    Schizophrenia
    12.10    Others
13    Competitive Landscape
    13.1    Market Structure
    13.2    Key Players
14    Key Player Profiles


List of Figures

Figure 1: Global: Medical Cannabis Market: Major Drivers and Challenges
Figure 2: Global: Medical Cannabis Market: Value Trends (in Billion US$), 2010-2017
Figure 3: Global: Medical Cannabis Market: Breakup by Species (in %), 2017
Figure 4: Global: Medical Cannabis Market: Breakup by Derivative (in %), 2017
Figure 5: Global: Medical Cannabis Market: Breakup by Application (in %), 2017
Figure 6: Global: Medical Cannabis Market: Breakup by End-Use (in %), 2017
Figure 7: Global: Medical Cannabis Market: Breakup by Route of Administration (in %), 2017
Figure 8: Global: Medical Cannabis Market: Breakup by Region (in %), 2017
Figure 9: Global: Medical Cannabis Market Forecast: Value Trends (in Billion US$), 2018-2023
Figure 10: Global: Medical Cannabis Industry: SWOT Analysis
Figure 11: Global: Medical Cannabis Industry: Value Chain Analysis
Figure 12: Global: Medical Cannabis Industry: Porter’s Five Forces Analysis
Figure 13: Global: Medical Cannabis Market (Indica): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 14: Global: Medical Cannabis Market (Sativa): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 15: Global: Medical Cannabis Market (Hybrid): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 16: Global: Medical Cannabis Market (Cannabidiol): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 17: Global: Medical Cannabis Market (Tetrahydrocannabinol): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 18: Global: Medical Cannabis Market (Other Derivatives): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 19: Global: Medical Cannabis Market (Application in Cancer): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 20: Global: Medical Cannabis Market (Application in Arthritis): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 21:Global: Medical Cannabis Market (Application in Migraine): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 22:Global: Medical Cannabis Market (Application in Epilepsy): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 23: Global: Medical Cannabis Market (Other Applications): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 24: Global: Medical Cannabis Market (End-Use in Pharmaceutical Industry): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 25: Global: Medical Cannabis Market (End-Use in Research and Development Centres): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 26: Global: Medical Cannabis Market (Other End-Uses): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 27: Global: Medical Cannabis Market (Administration through Oral Solutions and Capsules): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 28: Global: Medical Cannabis Market (Administration through Smoking): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 29: Global: Medical Cannabis Market (Administration through Vaporizers): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 30: Global: Medical Cannabis Market (Administration through Topicals): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 31: Global: Medical Cannabis Market (Other Route of Administration): Value Trends (in Million US$), 2010, 2017 & 2023
Figure 32: North America: Medical Cannabis Market: Value Trends (in Million US$), 2010, 2017 & 2023
Figure 33: United States: Medical Cannabis Market: Value Trends (in Million US$), 2010, 2017 & 2023
Figure 34: Canada: Medical Cannabis Market: Value Trends (in Million US$), 2010, 2017 & 2023
Figure 35: Europe: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2018-2023
Figure 36: Germany: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2018 - 2023
Figure 37: Italy: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2018 - 2023
Figure 38: France: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2018 - 2023
Figure 39: Netherlands: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2018-2023
Figure 40: Spain: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2018-2023
Figure 41: Latin America: Medical Cannabis Market: Value Trends (in Million US$), 2010, 2017 & 2023
Figure 42: Asia Pacific: Medical Cannabis Market: Value Trends (in Million US$), 2010, 2017 & 2023
Figure 43: Middle East and Africa: Medical Cannabis Market: Value Trends (in Million US$), 2010, 2017 & 2023
Figure 44: Global: Medical Cannabis Market: Market Structure
Figure 45: Global: Medical Cannabis Market: Key Players


List of Tables    

Table 1: Global: Medical Cannabis Market: Key Industry Highlights, 2017 and 2023
Table 2: Global: Medical Cannabis Market Forecast: Breakup by Species (in Million US$), 2018- 2023
Table 3: Global: Medical Cannabis Market Forecast: Breakup by Derivative (in Million US$), 2018- 2023
Table 4: Global: Medical Cannabis Market Forecast: Breakup by Application (in Million US$), 2018- 2023
Table 5: Global: Medical Cannabis Market Forecast: Breakup by End-Use (in Million US$), 2018-2023
Table 6: Global: Medical Cannabis Market Forecast: Breakup by Route of Administration (in Million US$), 2018- 2023
Table 7: Global: Medical Cannabis Market Forecast: Breakup by Region (in Million US$), 2018- 2023


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