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2019-06-18
310
Global
Cannabis is increasingly expanding its foothold in healthcare industry over the past few years. Cannabis is illegal to consume if otherwise used in approved pharmaceuticals legalized by the country. Till now (2017), only Australia, Canada, Israel, U.S and Europe have medicinal cannabis market. Australia legalized the use of medical cannabis in 2016, and initial demands were encountered through the imports. Various jurisdictions have either illegalized the cannabis or have legalized cannabis for medical purposes. But the growing acceptance of cannabis all over the world, some have even legalized cannabis for recreational purpose. The companies in the industry have different target areas, some are targeting nutraceuticals and based on the therapeutical benefits are developing products; and some companies are manufacturing range of drugs based on cannabis targeting multiple diseases such as cancer, epilepsy and chronic pain.
The patients with acute diseases have increasing demand for cannabis medicines as they are becoming aware of its benefits. Cannabis is also gaining attention from the pharmaceutical & biotechnology research & development segment of healthcare industry & the drug approval authorities. Medical cannabis have cannabinoids that interacts with the Endocannabinoid System in human body, which impacts nearly all pathological conditions - cardiovascular, reproductive, gastrointestinal, neurodegenerative, liver, psychiatric, lunch skeletal, and cancer diseases. The patients with acute diseases have increasing demand for cannabis medicines as they are becoming aware of its benefits.
Our Global Medical Cannabis Market can be segmented on the following basis:
Based on Cannabis Strains
Based on Implications
Based on Geography
In 2017 on the basis of implications, medical cannabis for chronic pain accounted for largest market share in the global medical cannabis market followed by cancer treatment. Cannabis has proved to be useful for patients suffering from chronic pain & neuropathic pain. Moreover continuous research & development & clinical trials is witnessed related to the medicines for pain management. In near future, application of medical cannabis in pain management segment will acquire largest market share.
US have legalized cannabis for both medical & recreational activities in various states. Medical cannabis is one of the fastest growing segment in the healthcare industry, and its usage is expanding to multiple states every year & by the end of 2017 medical cannabis is legalized in 30 states as compared to 8 states legalized for recreational cannabis. Although chronic pain is the largest segment for application of medical cannabis, but only few percent of people are using cannabis. Further, in terms of cannabis business opportunities in the U.S., the companies have profitable opportunities Arizona, Nevada & Massachusetts. The market also provides attractive price expansion opportunities & well capitalization facility.
Global medical cannabis market report includes:
Key questions answered in this Global Marijuana Industry Analysis Report
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