NEW YORK, March 01, 2018 (GLOBE NEWSWIRE) -- The global medical marijuana market is expected to grow significantly from USD 8.28 billion in 2017 to USD 28.07 billion in 2024, at a CAGR of 19.1% from 2018 to 2024. Factors propelling the growth of medical marijuana market are growing awareness regarding the benefits of its various applications, increasing demand for marijuana in the treatment of various diseases, and growing number of research and development activities . However, legality issues in various nations is the key restraints to the growth of the market.
The report segment the global medical marijuana market by Types (sativa, indica, and hybrid), by Medical Application (glaucoma, inflammatory bowel diseases, chronic pain, migraine, arthritis, anxiety, insomnia, AIDS, and others), by Chemical Derivatives (THC(delta-9-tetrahydrocannabinol), CBD (cannabidiol) CBD capsules, CBD tincture or liquids, and CBD topical), and hybrid (combination of THC & CBD), by End-User (pharmaceutical industry, hospital, research and development centers, and pharmacy stores) and by Region (North America, South America, Europe, Middle East and Africa, and Asia-Pacific).
Medical marijuana is uses as the whole plant or plant extract for the treatment of various diseases. THC (delta-9-tetrahydrocannabinol) is the main active mind-altering (psychoactive) substance found in marijuana plant having medical properties to treat vomiting, nausea, and other medical conditions. THC (delta-9-tetrahydrocannabinol) is also used to treat appetite in patients suffering from AIDS.
Browse full research report with TOC on “Global Medical Marijuana Market, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation and Forecast 2024” at: https://www.energiasmarketresearch.com/global-medical-marijuana-market-outlook/
To purchase report: sales@energiasmarketresearch.com
Key Findings of the Global Medical Marijuana Market Report
- The global medical marijuana market is expected to reach USD 28.07 billion by 2024 at CAGR of 19.1% form 2018-2024
- Based on the Medical Application, the chronic pain segment held the major share of the global market in 2017, due to hundreds of chemical compounds found in marijuana which help in treat pain management
- Based on the Chemical Derivatives, the CBD (cannabidiol) holds the major share of the global medical marijuana market, owing to increasing research and development activities along with the growing demand in application such as capsules, tincture, gum, vape oil, and bath products
- On the basis of End-User, the Pharmaceutical Industry holds the major share of the global medical marijuana market. The increasing demand by pharmaceutical industry is owed to usage of medical marijuana to develop new drugs for medical treatments of patients
- Geographically, North America holds the largest share in the global medical marijuana market and is expected to register high growth rate over the forecast period. The growth in the region is attributed to growing number of U.S states legalizing the use of marijuana in the medical applications
- The key players operating in the medical marijuana market are American Cannabis Company, Inc. Cannabis Sativa, Inc, GrowBlox Sciences, Inc, GW Pharmaceuticals, United Cannabis Corporation, Corbus Pharmaceuticals, Insys Therapeutics, Inc. and Lexaria Corporation, Canopy Growth Corporation, Growblox Sciences, Inc Aurora Cannabis, AXIM Biotechnologies Inc, MEDICAL MARIJUANA, INC. Arena Pharmaceuticals, and Cara Therapeutics
Global Medical Marijuana- offering business opportunity in medical industry
Medical marijuana plant contains many chemical properties that may help in treating a wide range of diseases and symptoms. The medical marijuana plant having two major strains: cannabis sativa and cannabis indica. The cannabis sativas have a higher level of TCH (delta-9 tetrahydrocannabinol) resulting in a medical application such as control of nausea, vomiting, and stimulate appetite in AIDS patients. The cannabis indica have a higher level of CBD (cannabidiol), resulting in treatment of symptoms such as muscle spasms, chronic pain, anxiety and sleep deprivation. The industry size for medical marijuana is increasing primarily in U.S. offering business opportunity with high profit margins. However, federal prohibition remains to be key restraint to market growth across the globe.
Global Medical Marijuana Market – Regional Insight
Geographically, the global medical marijuana market is segmented into North America, South America, Europe, Middle East and Africa, and Asia-Pacific. North America holds the largest share in the global medical marijuana market and is expected to show high growth rate owing to growing number of U.S states, legalizing the use of marijuana in the medical applications. Europe holds the second largest share in the global medical marijuana market in 2017. Growing importance of cannabis sector with initiative to legalize coupled with rising awareness among people for its medical usage augments the growth of medical marijuana market in Europe. However, the North America region is expected to witness the fastest growth during the period 2018–2024. This high growth is attributed to increasing awareness about the medical marijuana and government legalization for its medical use.
About Energias Market Research Pvt. Ltd. -
Energias Market Research Pvt. Ltd. publishes high-quality reports, in-depth market research studies, to help clients obtain investment level clarity on the current business scenario, trends, and segmentation for their future developments. We are committed to our client’s needs, by providing high-quality custom reports solutions best fit for strategy development and implementation to a high return of invest (RoI). We believe that exceptional problems need the expertise to solve, and with the help of our industries expertise, we are able to offer an in-depth understanding of what’s crucial, what’s applicable, and what it takes to ensure accomplishment in any business or venture.
With a wide range of expertise from various industrial sectors and more than 50 industries that include energy, chemical and materials, information communication technology, semiconductor industries, healthcare and daily consumer goods, etc. We strive to provide our clients with a one-stop solution for all research and consulting needs.
Contact:
Mr. Manas Nagi
Business Development Manager
For any queries email us: info@energiasmarketresearch.com
To purchase report: sales@energiasmarketresearch.com
Call us: +1-716-239-4915
Visit: https://www.energiasmarketresearch.com/