Medical Cannabis Market

Market Overview:

The global medical cannabis market exhibited strong growth during 2015-2020. Cannabis is a psychoactive drug that is derived from the cannabis plant of the Cannabaceae family. It was used medicinally 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, multiple sclerosis, acquired immunodeficiency syndrome (AIDS), amyotrophic lateral sclerosis (ALS), Alzheimer’s, post-traumatic stress disorder (PTSD), Parkinson’s and Tourette’s. Owing to its therapeutic benefits, cannabis has been approved for medical use in numerous countries, with varying degrees of legal restrictions. Some of these countries include Argentina, Brazil, Canada, Chile, Colombia, Czech Republic, Germany, Italy, Mexico, Spain, the United Kingdom, the United States and Uruguay. Looking forward, IMARC Group expects the global medical cannabis market to grow at a CAGR of 15.3% during 2021-2026.

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 efficacy or to combat adverse side effects. For instance, it is very effective in reducing nausea and increasing appetite among chemotherapy patients. Similarly, it is also used in combination with traditional opioid painkillers, which enables patients to reduce the dosage and frequency of opioids significantly and imparts greater pain relief.
• The steadily aging population across the globe has played a 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, research and development (R&D) activities and commercialization of cannabis-based indications are further expected to catalyze the growth of the market.
• Although expenditure on health products is less susceptible to fluctuations, the uptake of medical marijuana is liable to changes in disposable income due to its unconventional nature.  As a result, increasing disposable incomes are projected to create a positive impact on the demand for medical cannabis.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global medical cannabis market report, along with forecasts for growth at the global, regional and country-level from 2021-2026. Our report has categorized the market based on region, species, derivatives, application, end-use, and route of administration.

Breakup by Species:

On the basis of species, the market has been segmented as cannabis Indica, Sativa and hybrid. Currently, Cannabis Indica dominates the market, holding the largest share. It is often used in the treatment of insomnia, relaxing the muscles, 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 utilized 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 and others.

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 the 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 the geographical front, North America (the United States and Canada) enjoys the leading position in the market. The 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 (Germany, Italy, France, the Netherlands and Spain), Asia Pacific, Latin America, and Middle East and Africa.

Competitive Landscape:

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

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

Key Questions Answered in This Report:

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    Impact of COVID-19
    5.4    Market Breakup by Species
    5.5    Market Breakup by Derivative
    5.6    Market Breakup by Application
    5.7    Market Breakup by End-Use
    5.8    Market Breakup by Route of Administration
    5.9    Market Breakup by Region
    5.10    Market Forecast
    5.11    SWOT Analysis
        5.11.1    Overview
        5.11.2    Strengths
        5.11.3    Weaknesses
        5.11.4    Opportunities
        5.11.5    Threats
    5.12    Value Chain Analysis
        5.12.1    Input Suppliers
        5.12.2    Collectors
        5.12.3    Manufacturers
        5.12.4    Distributors
        5.12.5    Exporters
        5.12.6   Retailers
        5.12.7    End-User
    5.13    Porters Five Forces Analysis
        5.13.1    Overview
        5.13.2    Bargaining Power of Buyers
        5.13.3    Bargaining Power of Suppliers
        5.13.4    Degree of Competition
        5.13.5    Threat of New Entrants
        5.13.6    Threat of Substitutes
    5.14    Key Success and Risk Factors
6   Market Breakup by Species
    6.1    Indica
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Sativa
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Hybrid
        6.3.1 Market Trends
        6.3.2 Market Forecast
7   Market Breakup by Derivative
    7.1    Cannabidiol (CBD)
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Tetrahydrocannabinol (THC)
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Others
        7.3.1 Market Trends
        7.3.2 Market Forecast
8   Market Breakup by Application
    8.1    Cancer
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Arthritis
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Migraine
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Epilepsy
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Others
        8.5.1 Market Trends
        8.5.2 Market Forecast
9   Market Breakup by End-Use
    9.1    Pharmaceutical Industry
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Research and Development Centres
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Others
        9.3.1 Market Trends
        9.3.2 Market Forecast
10  Market Breakup by Route of Administration
    10.1    Oral Solutions and Capsules
        10.1.1 Market Trends
        10.1.2 Market Forecast
    10.2    Smoking
        10.2.1 Market Trends
        10.2.2 Market Forecast
    10.3    Vaporizers
        10.3.1 Market Trends
        10.3.2 Market Forecast
    10.4    Topicals
        10.4.1 Market Trends
        10.4.2 Market Forecast
    10.5    Others
        10.5.1 Market Trends
        10.5.2 Market Forecast
11  Market Breakup by Region
    11.1    North America
        11.1.1    United States
             11.1.1.1 Market Trends
             11.1.1.2 Market Forecast
        11.1.2    Canada
             11.1.2.1 Market Trends
             11.1.2.2 Market Forecast
    11.2    Europe
        11.2.1    Germany
             11.2.1.1 Market Trends
             11.2.1.2 Market Forecast
        11.2.2    Italy
             11.2.2.1 Market Trends
             11.2.2.2 Market Forecast
        11.2.3    France
             11.2.3.1 Market Trends
             11.2.3.2 Market Forecast
        11.2.4    Netherlands
             11.2.4.1 Market Trends
             11.2.4.2 Market Forecast
        11.2.5    Spain
             11.2.5.1 Market Trends
             11.2.5.2 Market Forecast
    11.3    Latin America
        11.3.1 Market Trends
        11.3.2 Market Forecast
    11.4    Asia Pacific
        11.4.1 Market Trends
        11.4.2 Market Forecast
    11.5    Middle East and Africa
        11.5.1 Market Trends
        11.5.2 Market Forecast
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$), 2015-2020
Figure 3: Global: Medical Cannabis Market: Breakup by Species (in %), 2020
Figure 4: Global: Medical Cannabis Market: Breakup by Derivative (in %), 2020
Figure 5: Global: Medical Cannabis Market: Breakup by Application (in %), 2020
Figure 6: Global: Medical Cannabis Market: Breakup by End-Use (in %), 2020
Figure 7: Global: Medical Cannabis Market: Breakup by Route of Administration (in %), 2020
Figure 8: Global: Medical Cannabis Market: Breakup by Region (in %), 2020
Figure 9: Global: Medical Cannabis Market Forecast: Value Trends (in Billion US$), 2021-2026
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$), 2015 & 2020
Figure 14: Global: Medical Cannabis Market Forecast (Indica): Value Trends (in Million US$), 2021-2026
Figure 15: Global: Medical Cannabis Market (Sativa): Value Trends (in Million US$), 2015 & 2020
Figure 16: Global: Medical Cannabis Market Forecast (Sativa): Value Trends (in Million US$), 2021-2026
Figure 17: Global: Medical Cannabis Market (Hybrid): Value Trends (in Million US$), 2015 & 2020
Figure 18: Global: Medical Cannabis Market Forecast (Hybrid): Value Trends (in Million US$), 2021-2026
Figure 19: Global: Medical Cannabis Market (Cannabidiol-CBD): Value Trends (in Million US$), 2015 & 2020
Figure 20: Global: Medical Cannabis Market Forecast (Cannabidiol-CBD): Value Trends (in Million US$), 2021-2026
Figure 21: Global: Medical Cannabis Market (Tetrahydrocannabinol-THC): Value Trends (in Million US$), 2015 & 2020
Figure 22: Global: Medical Cannabis Market Forecast (Tetrahydrocannabinol-THC): Value Trends (in Million US$), 2021-2026
Figure 23: Global: Medical Cannabis Market (Other Derivatives): Value Trends (in Million US$), 2015 & 2020
Figure 24: Global: Medical Cannabis Market Forecast (Other Derivatives): Value Trends (in Million US$), 2021-2026
Figure 25: Global: Medical Cannabis Market (Application in Cancer): Value Trends (in Million US$), 2015 & 2020
Figure 26: Global: Medical Cannabis Market Forecast (Application in Cancer): Value Trends (in Million US$), 2021-2026
Figure 27: Global: Medical Cannabis Market (Application in Arthritis): Value Trends (in Million US$), 2015 & 2020
Figure 28: Global: Medical Cannabis Market Forecast (Application in Arthritis): Value Trends (in Million US$), 2021-2026
Figure 29: Global: Medical Cannabis Market (Application in Migraine): Value Trends (in Million US$), 2015 & 2020
Figure 30: Global: Medical Cannabis Market Forecast (Application in Migraine): Value Trends (in Million US$), 2021-2026
Figure 31: Global: Medical Cannabis Market (Application in Epilepsy): Value Trends (in Million US$), 2015 & 2020
Figure 32: Global: Medical Cannabis Market Forecast (Application in Epilepsy): Value Trends (in Million US$), 2021-2026
Figure 33: Global: Medical Cannabis Market (Other Applications): Value Trends (in Million US$), 2015 & 2020
Figure 34: Global: Medical Cannabis Market Forecast (Other Applications): Value Trends (in Million US$), 2021-2026
Figure 35: Global: Medical Cannabis Market (End-Use in Pharmaceutical Industry): Value Trends (in Million US$), 2015 & 2020
Figure 36: Global: Medical Cannabis Market Forecast (End-Use in Pharmaceutical Industry): Value Trends (in Million US$), 2021-2026
Figure 37: Global: Medical Cannabis Market (End-Use in Research and Development Centres): Value Trends (in Million US$), 2015 & 2020
Figure 38: Global: Medical Cannabis Market Forecast (End-Use in Research and Development Centres): Value Trends (in Million US$), 2021-2026
Figure 39: Global: Medical Cannabis Market (Other End-Uses): Value Trends (in Million US$), 2015 & 2020
Figure 40: Global: Medical Cannabis Market Forecast (Other End-Uses): Value Trends (in Million US$), 2021-2026
Figure 41: Global: Medical Cannabis Market (Administration through Oral Solutions and Capsules): Value Trends (in Million US$), 2015 & 2020
Figure 42: Global: Medical Cannabis Market Forecast (Administration through Oral Solutions and Capsules): Value Trends (in Million US$), 2021-2026
Figure 43: Global: Medical Cannabis Market (Administration through Smoking): Value Trends (in Million US$), 2015 & 2020
Figure 44: Global: Medical Cannabis Market Forecast (Administration through Smoking): Value Trends (in Million US$), 2021-2026
Figure 45: Global: Medical Cannabis Market (Administration through Vaporizers): Value Trends (in Million US$), 2015 & 2020
Figure 46: Global: Medical Cannabis Market Forecast (Administration through Vaporizers): Value Trends (in Million US$), 2021-2026
Figure 47: Global: Medical Cannabis Market (Administration through Topicals): Value Trends (in Million US$), 2015 & 2020
Figure 48: Global: Medical Cannabis Market Forecast (Administration through Topicals): Value Trends (in Million US$), 2021-2026
Figure 49: Global: Medical Cannabis Market (Other Route of Administration): Value Trends (in Million US$), 2015 & 2020
Figure 50: Global: Medical Cannabis Market Forecast (Other Route of Administration): Value Trends (in Million US$), 2021-2026
Figure 51: North America: Medical Cannabis Market: Value Trends (in Million US$), 2015 & 2020
Figure 52: North America: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2021-2026
Figure 53: United States: Medical Cannabis Market: Value Trends (in Million US$), 2015 & 2020
Figure 54: United States: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2021-2026
Figure 55: Canada: Medical Cannabis Market: Value Trends (in Million US$), 2015 & 2020
Figure 56: Canada: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2021-2026
Figure 57: Europe: Medical Cannabis Market: Value Trends (in Million US$), 2015 & 2020
Figure 58: Europe: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2021-2026
Figure 59: Germany: Medical Cannabis Market: Value Trends (in Million US$), 2015 & 2020
Figure 60: Germany: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2021-2026
Figure 61: Italy: Medical Cannabis Market: Value Trends (in Million US$), 2015 & 2020
Figure 62: Italy: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2021-2026
Figure 63: France: Medical Cannabis Market: Value Trends (in Million US$), 2015 & 2020
Figure 64: France: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2021-2026
Figure 65: Netherlands: Medical Cannabis Market: Value Trends (in Million US$), 2015 & 2020
Figure 66: Netherlands: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2021-2026
Figure 67: Spain: Medical Cannabis Market: Value Trends (in Million US$), 2015 & 2020
Figure 68: Spain: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2021-2026
Figure 69: Latin America: Medical Cannabis Market: Value Trends (in Million US$), 2015 & 2020
Figure 70: Latin America: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2021-2026
Figure 71: Asia Pacific: Medical Cannabis Market: Value Trends (in Million US$), 2015 & 2020
Figure 72: Asia Pacific: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2021-2026
Figure 73: Middle East and Africa: Medical Cannabis Market: Value Trends (in Million US$), 2015 & 2020
Figure 74: Middle East and Africa: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2021-2026

List of Tables    

Table 1: Global: Medical Cannabis Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Medical Cannabis Market Forecast: Breakup by Species (in Million US$), 2021-2026
Table 3: Global: Medical Cannabis Market Forecast: Breakup by Derivative (in Million US$), 2021-2026
Table 4: Global: Medical Cannabis Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 5: Global: Medical Cannabis Market Forecast: Breakup by End-Use (in Million US$), 2021-2026
Table 6: Global: Medical Cannabis Market Forecast: Breakup by Route of Administration (in Million US$), 2021-2026
Table 7: Global: Medical Cannabis Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 8: Global: Medical Cannabis Market: Market Structure
Table 9: Global: Medical Cannabis Market: Key Players

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