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The North America legal cannabis market was valued at US$ 16 Billion in 2020.
Increasing utilization of medical cannabis in the healthcare sector as a relatively safer treatment option with less severe side-effects for treating numerous chronical ailments is driving the North America legal cannabis market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across North America resulting in the postponement of numerous R&D activities pertaining to the introduction of cannabis-based products, thereby negatively impacting the market growth.
Based on the product derived, the North America legal cannabis market has been bifurcated into marijuana, and industrial hemp. Currently, marijuana holds the largest market share.
Based on the distribution channel, the North America legal cannabis market can be categorized into regulated dispensaries, recreational stores, stand-alone retailers, and others. Among these, regulatory dispensaries currently account for the majority of the total market share.
On a regional level, the market has been classified into United States and Canada, where United States currently dominates the North America legal cannabis market.
Some of the major players in the North America legal cannabis market include 22nd Century Group, Inc, Medical Marijuana Inc, Hemp, Inc., Axim Biotechnologies, Inc., Arena Pharmaceuticals, Inc., Canopy Growth Corporation, Aphria Inc., Aurora Cannabis Inc., and Abcann Medicinals Inc.
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