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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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