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Medical Marijuana Market To Reach USD 148.35 Billion By 2026


Market Summary Medical application of marijuana as pain management in cancer, seizures, neurology, and muscle spasm will drive the market growth. Market Size – USD 11.70 Billion in 2018, Market Growth - CAGR of 26.4%, Market Trends – Legalization of marijuana in several countries.

The Global Medical Marijuana Market is forecast to reach USD 148.35 Billion by 2026, according to a new report by Reports and Data. Marijuana is used for treating chronic pain that affects millions of people each year across the globe, thus increasing the demand for the product as a treatment procedure for medical conditions. Statistically, around 25 million people endure acute pain in the US. Moreover, several countries around the globe have made medical marijuana legal, i.e., it would allow people to use marijuana for health purposes; therefore, boosting the market for the medical marijuana market.

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Further key findings from the report suggest • Countries are beginning to liberalize laws related to medical marijuana; the market is forecasted to witness a surge in demand. Statistically, the majority of the cannabis, are currently, sold through illicit channels. • Several countries have recognized the advantages of this product and are in the process of legalizing it. • With a rise in the volume of clinical trials and scientific studies, the demand for cannabis for clinical use is forecasted to grow over the forecast period. Medical marijuana held a market share of 53% in the year 2018. • Countries in North America have also started promoting derivatives such as oils, tinctures, and resins, along with products like vaporizers, among millennial’s who are considered primary consumers. • The oil segment is forecasted to grow with the highest CAGR of 27.1% in the forecast period. Hemp oil is in high demand among healthcare sector for clinical purposes. • Health concerns associated with smoking is another factor that stops doctors from prescribing it. Hence, oil or edible forms of marijuana are generally prescribed and are growing in demand. • On the basis of application, the market is segmented into Chronic Pain, Mental Disorders, Anorexia, Seizures, Muscle Spasm, Cancer, and Others. • Chronic pain dominated the market, with a share of 63% in the year 2018. Marijuana reduced pain and also improved the quality of life among patients. • On the basis of the route of administration, inhalation segment is forecasted to have the highest market share of 54% in the year 2026.


Market Summary Key Players: Canopy Growth Corporation, Aphria, Inc., Aurora Cannabis, Maricann Group, Inc., Tilray, Cronos Group, Organigram Holdings, Inc., Vivo Cannabis, Tikun Olam, Insys Therapeutics, Inc., MedReleaf Corporation, and GW Pharmaceuticals PLC. Segmentation: For the purpose of this report, Reports and Data have segmented the global Medical Marijuana Market on the basis of Product Type, Route of Administration, Distribution Channel, Medical Application, and Region: Product Type Outlook (Revenue, USD Billion; 2016-2026) •Oil •Buds •Tinctures Medical Application Outlook (Revenue, USD Billion; 2016-2026) •Chronic Pain •Mental Disorders •Anorexia •Seizures •Muscle Spasm •Cancer •Others

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Market Summary Route of Administration Outlook (Revenue, USD Billion; 2016-2026) •Inhalation •Oral •Intravenous •Topical Distribution Channel Outlook (Revenue, USD Billion; 2016-2026) •Dispensaries •Online Regional Outlook (Revenue, USD Billion; 2016-2026) •North America •Europe •Asia-Pacific •Latin America

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The report emphasizes the following key questions: Q.1.What are the most lucrative and promising growth prospects for the market? Q.2.Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement? Q.3.Which geographies are estimated to exhibit the highest growth and the underlying causes? Q.4.Which factors are impacting the future of the market and what are the driving factors? Q.5.What are the hurdles and challenges curtailing the industry’s growth in the forecast period?

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About Us Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Contact Us: John Watson Head of Business Development Reports And Data | Web: www.reportsanddata.com Direct Line: +1-212-710-1370 E-mail: sales@reportsanddata.com

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Medical Marijuana Market Analysis, Top Players, Demand, Industry Challenges Till 2026  

Market Size – USD 11.70 Billion in 2018, Market Growth - CAGR of 26.4%, Market Trends – Legalization of marijuana in several countries.

Medical Marijuana Market Analysis, Top Players, Demand, Industry Challenges Till 2026  

Market Size – USD 11.70 Billion in 2018, Market Growth - CAGR of 26.4%, Market Trends – Legalization of marijuana in several countries.

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