Market Overview:

The global medical cannabis market size was US$ 16.5 Billion in 2019. Cannabis is a psychoactive drug that is derived from the cannabis plant of the Cannabaceae family. It was used medicinally in ancient Indian, Chinese, Egyptian and Islamic cultures. Nowadays, cannabis finds application in the treatment of a wide range of diseases and symptoms, including cancer, chronic pain, depression, arthritis, diabetes, glaucoma, migraines, epilepsy, multiple sclerosis, acquired immunodeficiency syndrome (AIDS), amyotrophic lateral sclerosis (ALS), Alzheimer’s, post-traumatic stress disorder (PTSD), Parkinson’s and Tourette’s. Owing to its therapeutic benefits, cannabis has been approved for medical use in numerous countries, with varying degrees of legal restrictions. Some of these countries include Argentina, Brazil, Canada, Chile, Colombia, Czech Republic, Germany, Italy, Mexico, Spain, the United Kingdom, the United States and Uruguay. Looking forward, IMARC Group expects the global medical cannabis market is further expected to witness strong growth during 2020-2025.

Global Medical Cannabis Market Drivers:

Cannabis is safer and has less severe side effects in comparison to other treatment options. It also finds usage along with other treatments either to enhance their efficacy or to combat adverse side effects. For instance, it is very effective in reducing nausea and increasing appetite among chemotherapy patients. Similarly, it is also used in combination with traditional opioid painkillers, which enables patients to reduce the dosage and frequency of opioids significantly and imparts greater pain relief.

The steadily aging population across the globe has played a significant role in driving the demand for medical cannabis as geriatric patients are more likely to develop chronic illnesses and require more physician visits.

Clinical trials, research and development (R&D) activities and commercialization of cannabis-based indications are further expected to catalyze the growth of the market.

Although expenditure on health products is less susceptible to fluctuations, the uptake of medical marijuana is liable to changes in disposable income due to its unconventional nature. As a result, increasing disposable incomes are projected to create a positive impact on the demand for medical cannabis.



Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global medical cannabis market report, along with forecasts for growth at the global, regional and country-level from 2020-2025. Our report has categorized the market based on region, species, derivatives, application, end-use, and route of administration.

Breakup by Species:

On the basis of species, the market has been segmented as cannabis Indica, Sativa and hybrid. Currently, Cannabis Indica dominates the market, holding the largest share. It is often used in the treatment of insomnia, relaxing the muscles, relieving body pains, headaches and migraines.

Breakup by Derivatives:

Based on derivatives, the market has been divided into cannabidiol (CBD), tetrahydrocannabinol (THC) and others. CBD is majorly used for medical purposes due to its non-psychotic effect and low levels of toxicity, whereas THC is utilized to reduce the side-effects of AIDS and cancer treatment.

Breakup by Application:

The market has also been divided on the basis of application; wherein cancer represents the leading category. Other major applications of cannabis include arthritis, migraine, epilepsy and others.

Breakup by End-Use:

On the basis of end-use, the market has been segregated into the pharmaceutical industry, research and development centers, and others. Currently, the pharmaceutical industry represents the biggest end user.

Breakup by Route of Administration:

Based on the route of administration, the market has been categorized into oral solutions and capsules, smoking, vaporizers, topicals and others. Oral solutions and capsules represent the biggest segment, accounting for the largest market share.

Regional Insights:

On the geographical front, North America (the United States and Canada) enjoys the leading position in the market. The recent legalization of cannabis in North America for both recreational and medical purposes has been a major driver of the market growth. Other key regions include Europe (Germany, Italy, France, the Netherlands and Spain), Asia Pacific, Latin America, and Middle East and Africa.

Competitive Landscape:

The report has also examined the competitive landscape of the market. Some of the major players include:

Canopy Growth Corporation

GW Pharmaceuticals, plc

Aurora Cannabis, Inc.

Aphria, Inc.

MedReleaf Corporation

Insys Therapeutics, Inc.

CanniMed Therapeutics, Inc.

Cara Therapeutics, Inc.

United Cannabis Corporation



Key Questions Answered in This Report:

1. What was the global medical cannabis market size in 2019? The global medical cannabis market was worth around US$ 16.5 Billion in 2019.

2. What will be the medical cannabis market outlook during the forecast period (2020-2025)? According to the estimates by IMARC Group, the global medical cannabis market will exhibit strong growth during the next five years.

3. What are the global medical cannabis market drivers? The growing prevalence of chronic diseases, along with the increasing utilization of medical cannabis for treating different conditions, represents one of the key factors impelling the market growth.

4. What are the major trends in the global medical cannabis market? Legalizing cannabis for medicinal purposes in various countries represents one of the major trends in the market.

5. What is the impact of COVID-19 on the global medical cannabis market? Lockdowns imposed by governments of several countries to contain the spread of the coronavirus disease (COVID-19) have led to a decline in medical tourism and supply chain disruptions around the world. As a result, the medical cannabis market is currently experiencing negative growth.

6. What is the global medical cannabis market breakup by species? On the basis of species, the market has been classified into Indica, Sativa and hybrid.

7. What is the global medical cannabis market breakup by derivative? Based on the derivative, the market has been divided into cannabidiol (CBD), tetrahydrocannabinol (THC) and others.

8. What is the global medical cannabis market breakup by application? The market has been categorized on the basis of the application into cancer, arthritis, migraine, epilepsy and others.

9. What is the global medical cannabis market breakup by end use? On the basis of end use, the market has been segmented into the pharmaceutical industry, research and development centers, and others.

10. What is the global medical cannabis market breakup by the route of administration? Based on the route of administration, the market has been segregated into oral solutions and capsules, smoking, vaporizers, topicals, and others.

11. What are the major regions in the global medical cannabis market? Region-wise, the market has been classified into North America (the United States and Canada), Europe (Germany, Italy, France, the Netherlands and Spain), Latin America, Asia Pacific, and Middle East and Africa.