Medical Marijuana Market Share, Demand and Insights Analysis Report By 2025 “Globally, the medical marijuana industry is predicted to grow at CAGR of 17.1% in forecast period, providing numerous opportunities for market players to invest for research and development in the market.�
The global Medical Marijuana Market size is expected to value at USD 55.8 billion by 2025. The market is subject to witness a substantial growth due to the rise in number of medical applications such as pain management, appetite enhancement, and reducing eye pressure. Medical marijuana is broadly classified into two types based on their orientation such as Cannabis Sativa and Cannabis indica. The Cannabis Sativa and Cannabis indica are naturally found in the western hemisphere and central & south Asian region respectively. Globally, the medical marijuana industry is predicted to grow at CAGR of 17.1% in forecast period, providing numerous opportunities for market players to invest for research and development in the market. Rise in the approval rate of medical marijuana in different parts of the globe is expected to boost market demand for cannabis in therapeutic applications. Additionally, growing competition in the market coupled with rising number of mergers and acquisitions in the medical marijuana market is anticipated to stimulate market development over the coming few years. The technological advancements in the healthcare industry coupled with development of innovative drugs are some of the key factors for sustained market growth. Increasing number of states with lawful legalizing medical marijuana in U.S. and high-end demand for cannabis in medical and recreational applications are predicted to favor market growth over the forecast period. Rise in the number of research and development activities in North America and Europe is also expected to fuel the demand for the drug in the near future.
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