The Global Medical Cannabis Market Report, published by Reports and Data, offers an industry-wide assessment of the Global Medical Cannabis market, which is inclusive of the most crucial factors contributing to the growth of the industry. The latest research report comprises an extensive analysis of the micro- and macro-economic indicators that influence the global market development during the forecast period of 2020-2027. According to our team experts, the global Global Medical Cannabis market is projected to deliver a magnificent CAGR of 11.5% throughout the forecast timeframe to rise from USD 10.20 Billion in 2020 to USD 24.52 Billion in 2028.
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The global Global Medical Cannabis market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Global Medical Cannabis market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers acquisitions, new product launches, and joint ventures.
Key players in the market include Canopy Growth Corporation, Aphria, Inc., Aurora Cannabis, Maricann Group, Inc., Tilray, Cronos Group, Organigram Holdings, Inc., Vivo Cannabis, Tikun Olam, and Insys Therapeutics, Inc.
Emergen Research has segmented the global Medical Cannabis market on the basis of product type, application, and route of administration, distribution channel, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Oil
- Buds
- Tinctures
Application Outlook (Revenue, USD Billion; 2018-2028)
- Chronic Pain
- Mental Disorders
- Anorexia
- Seizures
- Muscle Spasm
- Cancer
- Others
Route of Administration Outlook (Revenue, USD Billion; 2018-2028)
- Oral
- Intravenous
- Inhalation
- Topical
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
- Dispensaries
- Online
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- France
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- Israel
- Rest Of MEA
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Key point summary of the report:
- In October 2020, MediPharm Labs Corp. signed an exclusive supply agreement with STADA to meet the growing demand for medical cannabis in Germany. STADA wanted to be the go-to partner for generics, which is achieved by the partnership.
- Oil segment is expected to register significant growth rate during the forecast period due to high demand for hemp oil among healthcare workers for clinical purposes. Cannabidiol (CBD) oil can reduce depression and anxiety, alleviate cancer-related symptoms, and relieves pain. CBD oil can also treat acne owing to its ability to reduce sebum production and anti-inflammatory properties.
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