Africa Medical Cannabis Market to Grow at 20.12% During 2023-2028, Impelled by the Legalization of Cannabis Farming

November 24, 2021 | Healthcare

According to the latest report by IMARC Group, titled "Africa Medical Cannabis Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the Africa medical cannabis market is expected to grow at a CAGR of 20.12% during 2023-2028. Cannabis is a psychoactive drug that is generally extracted from cannabis ruderalis, cannabis indica and cannabis sativa plants. It usually provides a calming and relaxing effect when consumed. Therefore, it is widely utilized in the manufacturing of various medicines for the treatment of several conditions, including depression, insomnia, chronic pain, anxiety and inflammation. Apart from this, it is also consumed by patients in pill form who are suffering from acquired immunodeficiency syndrome (AIDS) as well as undergoing cancer chemotherapy.


Africa Medical Cannabis Market Trends:

The market in Africa is primarily driven by the rising prevalence of chronic illnesses among the masses. Along with this, the increasing awareness regarding the medicinal properties and benefits of cannabis is creating a positive outlook for the market across the region. This is supported by the government initiatives of numerous countries across the region to legalize cannabis farming in order to utilize it for medicinal purposes. Moreover, significant growth in the pharmaceutical industry across Africa and the rising investments by public and private firms to upgrade the existing pharmaceutical sector are also creating a positive outlook for the market. Apart from this, the widespread adoption of cannabis in the preparation of numerous health supplements to treat psychotic ailments is propelling the market growth further. Some of the other factors contributing to the market growth include extensive research and development (R&D) activities conducted by key players in order to introduce effective product variants in the market. 


Market Summary:

  • On the basis of the species, the market has been segregated into cannabis indica, sativa and hybrid.
  • Based on the derivative, the market has been categorized into cannabidiol, tetrahydrocannabinol and others.
  • On the basis of the route of administration, the market has been divided into capsules and oral solutions, vaporizers, smoking, topicals and others.
  • Based on the application, the market has been classified into cancer, HIV/AIDS, epilepsy, pain and others.
  • On the basis of the end user, the market has been segmented into the pharmaceutical industry, research and development centers and others.
  • Based on the country, the market has been divided into Lesotho, Zimbabwe, South Africa, Ghana, Zambia and Malawi.
  • The competitive landscape of the industry has been examined in the report with the detailed profiles of the key players. Some of these players include 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.

Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Million
Segment Coverage Species, Derivative, Route of Administration, Application, End User, Country
Countries Covered Lesotho, Zimbabwe, South Africa, Ghana, Zambia, Malawi
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, and nanotechnology industries. We also provide cost model and manufacturing setup project reports through Syndicated Analytics, a subsidiary of IMARC Group.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact Us:

IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Africa Medical Cannabis Market to Grow at 20.12% During 2023-2028, Impelled by the Legalization of Cannabis Farming
Purchase options Year End sale



Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More