Market Overview:
The Thailand medical cannabis market reached a value of US$ 79 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,195 Million by 2027, exhibiting a CAGR of 55.6% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Cannabis, also known as marijuana, comes from the hemp plants such as cannabis sativa and cannabis indica. THC (tetrahydrocannabinol) is the main psychoactive part of cannabis and is used for medicinal purposes in several countries across the globe. Similar to several other countries, cannabis was extensively used as a traditional medicine in Thailand. It was also used for several medical purposes like muscle relaxer, to ease women’s labor pains and as a condiment in cooking. However, the sale and possession of marijuana was banned and criminalized in 1935 by the Cannabis Act and was further criminalized by the Narcotics Act of 1979. Despite this, the marijuana culture in Thailand has softened over last few decades, though not completely. Recently, Thailand government has legalized cannabis for medical purposes. There are several factors that will drive the demand for cannabis in Thailand. Thailand possesses geographical advantage over the production of cannabis because of its annual tropical climate resulting in lower production costs as less artificial light needed and temperature control are required for the cultivation of cannabis. Moreover, Thailand has historically had a strong tradition of using cannabis for medical purposes which is also expected to create a positive impact on its demand. Some of the other major factors that will drive the market include foreign investments, ageing population, increasing number of clinical trials and R&D investments, etc.
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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
IMARC’s latest study “Thailand Medical Cannabis Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” presents the reader with a thorough understanding of the Thailand medical cannabis market. The study covers all the requisite aspects of the medical cannabis market in Thailand. This ranges from macro overview of the market to micro details of the industry performance, processing and manufacturing requirements, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the Thailand medical cannabis industry in any manner.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Thailand medical cannabis market, along with forecasts for the period 2022-2027. Our report has categorized the market based on cultivated species, derivatives, application areas, end-use and route of administration.
Breakup by Cultivated Species:
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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
Breakup by Derivatives:
- Cannabidiol (CBD)
- Tetrahydrocannabinol (THC)
- Others
Breakup by Application Areas:
- Cancer
- Arthritis
- Migraine
- Epilepsy
- Others
Breakup by End-Use:
- Pharmaceuticals
- Research and Development Centres
- Others
Breakup by Route of Administration:
- Oral Solutions and Capsules
- Vaporizers
- Topicals
- Others
Report Coverage:
| Report Features |
Details |
|---|
| Base Year of the Analysis |
2021 |
| Historical Period |
2019-2021 |
| Forecast Period |
2022-2027 |
| Units |
US$ Million |
| Segment Coverage |
Cultivated Species, Derivatives, Application Areas, End-Use, Route of Administration |
| 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) |
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 Thailand Medical Cannabis Industry
5.1 Market Overview
5.2 Market Potential
5.3 Impact of COVID-19
5.4 Market by Cultivated Species
5.4.1 Indica
5.4.2 Sativa
5.4.3 Hybrid
5.5 Market by Derivatives
5.5.1 Cannabidiol (CBD)
5.5.2 Tetrahydrocannabinol (THC)
5.5.3 Others
5.6 Market by Application Areas
5.6.1 Cancer
5.6.2 Arthritis
5.6.3 Migraine
5.6.4 Epilepsy
5.6.5 Others
5.7 Market by End-Use
5.7.1 Pharmaceuticals
5.7.2 Research and Development Centres
5.7.3 Others
5.8 Market by Route of Administration
5.8.1 Oral Solutions and Capsules
5.8.2 Vaporizers
5.8.3 Topicals
5.8.4 Others
5.9 Market Forecast
6 Thailand Medical Cannabis Market: SWOT Analysis
6.1 Overview
6.2 Strengths
6.3 Weaknesses
6.4 Opportunities
6.5 Threats
7 Thailand Medical Cannabis Market: Value Chain Analysis
8 Thailand Medical Cannabis Market: PESTEL Analysis
8.1 Political Factors
8.2 Economic Factors
8.3 Social Factors
8.4 Technological Factors
8.5 Environmental Factors
8.6 Legal Factors
9 Thailand Medical Cannabis Market: Margin Analysis
9.1 Farmers Margins
9.2 Collectors Margins
9.3 Cannabis Manufacturer Margins
9.4 Distributor Margins
9.5 Exporters Margins
10 Thailand Medical Cannabis Market: Porter’s Five Forces Analysis
10.1 Overview
10.2 Bargaining Power of Suppliers
10.3 Bargaining Power of Buyers
10.4 Degree of Rivalry
10.5 Threat of New Entrants
10.6 Threat of Substitutes
11 Key Success and Risk Factors
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 Thailand – As a Cannabis Production and Exporting Hub
13.1 Historically Strong Tradition of Using Cannabis for Medical Purposes
13.2 Geographical Advantage Resulting in Lower Production Cost
13.3 Low Processing Cost due to Lower Labour Cost
13.4 Recent Government Legislations Beneficial for the Cannabis Industry
13.5 Large Inflow of Foreign Investments is expected in the Coming Years
14 Cultivation and Harvesting of Cannabis
14.1 Land Requirements
14.2 Construction Requirements
14.3 Machinery Requirements
14.4 Labour Requirements
14.5 Climate Requirements
14.6 Soil Requirements and Treatment
14.7 Yield per Hectare
14.8 Period of Maturation
14.9 Seed Selection and Treatment
14.10 Land Preparation and Planting
14.11 Irrigation Requirements
14.12 Crop Protection
14.13 Storage and Packaging
14.14 Transportation
14.15 Total Costs Involved
14.15.1 Fixed Costs
14.15.2 Variable Costs
15 Processing of Cannabis
15.1 Detailed Process Flow
15.2 Various Unit Operations Involved
15.3 Land Requirements
15.4 Construction Requirements
15.5 Machinery Requirements
15.6 Raw Material Requirements
15.7 Packaging Requirements
15.8 Transportation
15.9 Utility Requirements
15.10 Total Costs Involved
15.10.1 Fixed Costs
15.10.2 Variable Costs
16 Key Market Challenges
17 Competitive Landscape
18 Profiles of Key Players
List of Figures
Figure 1: Thailand: Medical Cannabis Market: Major Drivers and Challenges
Figure 2: Thailand: Medical Cannabis Market: Sales Value (in Million US$), 2019-2021
Figure 3: Thailand: Medical Cannabis Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 4: Thailand: Medical Cannabis Market: Breakup by Cultivated Species (in %), 2021
Figure 5: Thailand: Medical Cannabis (Indica) Market: Sales Value (in Million US$), 2019-2021
Figure 6: Thailand: Medical Cannabis (Indica) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 7: Thailand: Medical Cannabis (Sativa) Market: Sales Value (in Million US$), 2019-2021
Figure 8: Thailand: Medical Cannabis (Sativa) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 9: Thailand: Medical Cannabis (Hybrid) Market: Sales Value (in Million US$), 2019-2021
Figure 10: Thailand: Medical Cannabis (Hybrid) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Thailand: Medical Cannabis Market: Breakup by Derivatives (in %), 2021
Figure 12: Thailand: Medical Cannabis (Tetrahydrocannabinol) Market: Sales Value (in Million US$), 2019-2021
Figure 13: Thailand: Medical Cannabis (Tetrahydrocannabinol) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Thailand: Medical Cannabis (Cannabidiol) Market: Sales Value (in Million US$), 2019-2021
Figure 15: Thailand: Medical Cannabis (Cannabidiol) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Thailand: Medical Cannabis (Others) Market: Sales Value (in Million US$), 2019-2021
Figure 17: Thailand: Medical Cannabis (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Thailand: Medical Cannabis Market: Breakup by Application Areas (in %), 2021
Figure 19: Thailand: Medical Cannabis (Cancer) Market: Sales Value (in Million US$), 2019-2021
Figure 20: Thailand: Medical Cannabis (Cancer) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Thailand: Medical Cannabis (Arthritis) Market: Sales Value (in Million US$), 2019-2021
Figure 22: Thailand: Medical Cannabis (Arthritis) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Thailand: Medical Cannabis (Migraine) Market: Sales Value (in Million US$), 2019-2021
Figure 24: Thailand: Medical Cannabis (Migraine) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Thailand: Medical Cannabis (Epilepsy) Market: Sales Value (in Million US$), 2019-2021
Figure 26: Thailand: Medical Cannabis (Epilepsy) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Thailand: Medical Cannabis (Others) Market: Sales Value (in Million US$), 2019-2021
Figure 28: Thailand: Medical Cannabis (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Thailand: Medical Cannabis Market: Breakup by End-Use (in %), 2021
Figure 30: Thailand: Medical Cannabis (Pharmaceuticals) Market: Sales Value (in Million US$), 2019-2021
Figure 31: Thailand: Medical Cannabis (Pharmaceuticals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Thailand: Medical Cannabis (Research and Development Centres) Market: Sales Value (in Million US$), 2019-2021
Figure 33: Thailand: Medical Cannabis (Research and Development Centres) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Thailand: Medical Cannabis (Others) Market: Sales Value (in Million US$), 2019-2021
Figure 35: Thailand: Medical Cannabis (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Thailand: Medical Cannabis Market: Breakup by Route of Administration (in %), 2021
Figure 37: Thailand: Medical Cannabis (Oral Solutions and Capsules) Market: Sales Value (in Million US$), 2019-2021
Figure 38: Thailand: Medical Cannabis (Oral Solutions and Capsules) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Thailand: Medical Cannabis (Vaporizers) Market: Sales Value (in Million US$), 2019-2021
Figure 40: Thailand: Medical Cannabis (Vaporizers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Thailand: Medical Cannabis (Topicals) Market: Sales Value (in Million US$), 2019-2021
Figure 42: Thailand: Medical Cannabis (Topicals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Thailand: Medical Cannabis (Others) Market: Sales Value (in Million US$), 2019-2021
Figure 44: Thailand: Medical Cannabis (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Thailand: Medical Cannabis Industry: SWOT Analysis
Figure 46: Thailand: Medical Cannabis Industry: Value Chain Analysis
Figure 47: Thailand: Medical Cannabis Industry: PESTEL Analysis
Figure 48: Thailand: Medical Cannabis: Margins Across Various Stages of the Supply Chain
Figure 49: Thailand: Medical Cannabis Industry: Porter’s Five Forces Analysis
Figure 50: Medical Cannabis: Detailed Process Flow
List of Tables
Table 1: Thailand: Medical Cannabis Market: Key Industry Highlights, 2021 and 2027
Table 2: Thailand: Medical Cannabis Market Forecast: Breakup by Cultivated Species (in Million US$), 2022-2027
Table 3: Thailand: Medical Cannabis Market Forecast: Breakup by Derivatives (in Million US$), 2022-2027
Table 4: Thailand: Medical Cannabis Market Forecast: Breakup by Application Areas (in Million US$), 2022-2027
Table 5: Thailand: Medical Cannabis Market Forecast: Breakup by End-Use (in Million US$), 2022-2027
Table 6: Thailand: Medical Cannabis Market Forecast: Breakup by Route of Administration (in Million US$), 2022-2027
Table 7: Medical Cannabis Market: Other Major Disease
Table 8: Land Required to Meet Demand, By Cultivation Method
Table 9: Thailand: Medical Cannabis Market Structure
Table 10: Thailand: Medical Cannabis Market: Key Players