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Medical Marijuana Market size 2021-2027 Industry Growth & Business Statistics Report

The global medical marijuana market size is slated to proliferate at a significant pace over the foreseeable future, driven by the increasing legalization of marijuana for medical purposes, alongside its large-scale adoption, especially in Germany, the UK, and the U.S. Several regulatory bodies are considering the product legalization due to the strong consumer awareness about the medical marijuana benefits and the relative support from the public.<br><br>Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/2836

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Medical Marijuana Market size 2021-2027 Industry Growth & Business Statistics Report

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  1. Medical Marijuana Market is projected to grow at a CAGR 19.3% by 2027

  2. Key Insights from Medical Marijuana Market: • There have been rapid research and development activities conducted regarding medical cannabis, including tetrahydrocannabinol- and cannabidiol-based medications, for use as an effective treatment for health conditions like anorexia, chronic pain, seizures, muscle spasms, and loss of appetite. It is also highly consumed to lower the intensity of multiple symptoms observed during the treatment of Alzheimer’s & Crohn’s diseases, which will help sustain a strong market position in years ahead. • With regards to the application spectrum, the global medical marijuana market from the nausea segment is poised to depict a CAGR of 18.4% through 2027, which is attributable to the strong prevalence of cancer and other related symptoms. Cannabinoids are considered effective antiemetics as compared to alizapride, domperidone, haloperidol, thiethylperazine, chlorpromazine, metoclopramide, and prochlorperazine. In clinical studies, the product has been observed to act as a mood-enhancing adjuvant for controlling sickness related to chemotherapy.

  3. Continued… • On the basis of route of administration, the topical segment is likely to register sales of nearly $5 billion by 2027. Topicals are creams or lotions that can be applied directly to the skin for the relief of an injury. Due to the side-effects of using opioids, topicals have also been adopted as their replacement for injury-related pain management. Several other benefits such as self-administration and non-invasiveness will drive segmental growth over the forecast spell. • In terms of segmentation by distribution channel, the global medical marijuana market from the dispensaries segment will account for a market share of 58.4% in 2020. Due to the presence of strict regulatory bodies, product consumption and sales are highly monitored to avoid instances of addiction.

  4. Latest Research Report On Medical Marijuana Market@ https://www.gminsights.com/industry-analysis/medical-marijuana-market Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/2836

  5. Regional Insights in Medical Marijuana Market: • The global medical marijuana market size is slated to proliferate at a significant pace over the foreseeable future, driven by the increasing legalization of marijuana for medical purposes, alongside its large-scale adoption, especially in Germany, the UK, and the U.S. Several regulatory bodies are considering the product legalization due to the strong consumer awareness about the medical marijuana benefits and the relative support from the public. • Over the past years, medical cannabis has been extensively studied to be used as a therapeutic solution for a variety of disorders. For example, the product has witnessed widespread adoption for the treatment of nausea and vomiting. In addition, the U.S. FDA has approved several product formulations, owing to the accelerating R&D activities towards developing innovative solutions and discovering novel applications. These factors, alongside the rapid technological advancements, will contribute to the rising popularity of the different types of medical marijuana across the globe.

  6. Major Companies in Medical Marijuana Market: • Tilray • The Supreme Cannabis Company • GW Pharmaceuticals • Canopy Growth Corporation • Aphria Inc. • ABcannMedicinals Inc. • Aurora Cannabis Inc.

  7. Industry Coverage

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