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Thailand Medical Cannabis Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The Thailand medical cannabis market reached a value of US$ 26.3 Million in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 32% during 2021-2026. 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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IMARC’s latest study “Thailand Medical Cannabis Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” 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 at the country level from 2021-2026. 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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  • Indica
  • Sativa
  • Hybrid


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 2020
Historical Period 2019-2020
Forecast Period 2021-2026
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$ 1999
Five User License: US$ 2999
Corporate License: US$ 3999
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    Vaporizer
        5.8.3    Topicals
        5.8.4    Others
    5.9    Market Forecast
6    Thailand Medical Cannabis Market: SWOT Analysis
    6.1    Overview
    6.2    Strength
    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$), 2019-2020
Figure 3: Thailand: Medical Cannabis Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 4: Thailand: Medical Cannabis Market: Breakup by Cultivated Species (in %), 2020
Figure 5: Thailand: Medical Cannabis (Indica) Market: Sales Value (in Million US$), 2019-2020
Figure 6: Thailand: Medical Cannabis (Indica) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 7: Thailand: Medical Cannabis (Sativa) Market: Sales Value (in Million US$), 2019-2020
Figure 8: Thailand: Medical Cannabis (Sativa) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 9: Thailand: Medical Cannabis (Hybrid) Market: Sales Value (in Million US$), 2019-2020
Figure 10: Thailand: Medical Cannabis (Hybrid) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Thailand: Medical Cannabis Market: Breakup by Derivatives (in %), 2020
Figure 12: Thailand: Medical Cannabis (Tetrahydrocannabinol) Market: Sales Value (in Million US$), 2019-2020
Figure 13: Thailand: Medical Cannabis (Tetrahydrocannabinol) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Thailand: Medical Cannabis (Cannabidiol) Market: Sales Value (in Million US$), 2019-2020
Figure 15: Thailand: Medical Cannabis (Cannabidiol) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Thailand: Medical Cannabis (Others) Market: Sales Value (in Million US$), 2019-2020
Figure 17: Thailand: Medical Cannabis (Others) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Thailand: Medical Cannabis Market: Breakup by Application Areas (in %), 2020
Figure 19: Thailand: Medical Cannabis (Cancer) Market: Sales Value (in Million US$), 2019-2020
Figure 20: Thailand: Medical Cannabis (Cancer) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Thailand: Medical Cannabis (Arthritis) Market: Sales Value (in Million US$), 2019-2020
Figure 22: Thailand: Medical Cannabis (Arthritis) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Thailand: Medical Cannabis (Migraine) Market: Sales Value (in Million US$), 2019-2020
Figure 24: Thailand: Medical Cannabis (Migraine) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: Thailand: Medical Cannabis (Epilepsy) Market: Sales Value (in Million US$), 2019-2020
Figure 26: Thailand: Medical Cannabis (Epilepsy) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Thailand: Medical Cannabis (Others) Market: Sales Value (in Million US$), 2019-2020
Figure 28: Thailand: Medical Cannabis (Others) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Thailand: Medical Cannabis Market: Breakup by End Use (in %), 2020
Figure 30: Thailand: Medical Cannabis (Pharmaceuticals) Market: Sales Value (in Million US$), 2019-2020 
Figure 31: Thailand: Medical Cannabis (Pharmaceuticals) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: Thailand: Medical Cannabis (Research and Development Centers) Market: Sales Value (in Million US$), 2019-2020
Figure 33: Thailand: Medical Cannabis (Research and Development Centers) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: Thailand: Medical Cannabis (Others) Market: Sales Value (in Million US$), 2019-2020
Figure 35: Thailand: Medical Cannabis (Others) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 36: Thailand: Medical Cannabis Market: Breakup by Route of Administration (in %), 2020
Figure 37: Thailand: Medical Cannabis (Oral Solutions and Capsules) Market: Sales Value (in Million US$), 2019-2020
Figure 38: Thailand: Medical Cannabis (Oral Solutions and Capsules) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: Thailand: Medical Cannabis (Vaporizer) Market: Sales Value (in Million US$), 2019-2020
Figure 40: Thailand: Medical Cannabis (Vaporizer) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: Thailand: Medical Cannabis (Topicals) Market: Sales Value (in Million US$), 2019-2020
Figure 42: Thailand: Medical Cannabis (Topicals) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: Thailand: Medical Cannabis (Others) Market: Sales Value (in Million US$), 2019-2020
Figure 44: Thailand: Medical Cannabis (Others) Market Forecast: Sales Value (in Million US$), 2021-2026
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, 2020 and 2026
Table 2: Thailand: Medical Cannabis Market Forecast: Breakup by Cultivated Species (in Million US$), 2021-2026
Table 3: Thailand: Medical Cannabis Market Forecast: Breakup by Derivatives (in Million US$), 2021-2026
Table 4: Thailand: Medical Cannabis Market Forecast: Breakup by Application Areas (in Million US$), 2021-2026
Table 5: Thailand: Medical Cannabis Market Forecast: Breakup by End-Use (in Million US$), 2021-2026
Table 6: Thailand: Medical Cannabis Market Forecast: Breakup by Route of Administration (in Million US$), 2021-2026
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

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Key Question Answered in this Report

The Thailand medical cannabis market was valued at US$ 26.3 Million in 2020.

We expect the Thailand medical cannabis market to exhibit a CAGR of around 32% during 2021-2026.

The increased utilization of medical cannabis for the treatment of numerous chronic diseases represents one of the key factors driving the Thailand medical cannabis market growth.

Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations in the country resulting in temporary halt in clinical trials pertaining to medical cannabis.

Based on the cultivated species, the Thailand medical cannabis market can be segmented into indica, sativa, and hybrid. Currently, indica holds the majority of the total market share.

Based on the derivatives, the Thailand medical cannabis market has been segregated into cannabidiol (CBD), tetrahydrocannabinol (THC), and others, where tetrahydrocannabinol (THC) currently represents the largest segment.

Based on the application, the Thailand medical cannabis market can be categorized into cancer, arthritis, migraine, epilepsy, and others. Currently, cancer exhibits a clear dominance in the market.

Based on the end use, the Thailand medical cannabis market has been divided into pharmaceuticals, research and development centers, and others. Among these, the pharmaceuticals industry currently represents the largest segment.

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