Pharmaceutical Marijuana (MMJ) Market size was valued at USD 5.6 Billion in 2024 and is forecasted to grow at a CAGR of 18.2% from 2026 to 2033, reaching USD 23.6 Billion by 2033.
The global Pharmaceutical Marijuana (MMJ) market was valued at approximately USD 17.0 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 22.5% from 2023 to 2030. This growth is driven by the increasing legalization of medical marijuana, its growing acceptance for treating various medical conditions, and advancements in cannabis based pharmaceutical research. The market size is projected to reach around USD 90.5 billion by 2030, reflecting the rising demand for MMJ products in the healthcare sector. North America dominates the MMJ market due to high adoption rates and a favorable regulatory framework, contributing to nearly 40% of the global market share in 2022.
Regionally, Europe and the Asia Pacific are emerging as key growth areas, with Europe’s market estimated at USD 5.2 billion in 2022 and growing steadily at a CAGR of 18.7%. The demand for medical marijuana in the Asia Pacific region is accelerating as several countries are progressing with legalization measures, making it a significant opportunity for market growth. The Latin American and Middle East & Africa regions are also expected to witness substantial growth, with increasing interest in MMJ for medical purposes. The global trend towards acceptance and research of pharmaceutical marijuana is expected to open new opportunities in both developed and emerging markets over the forecast period.
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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
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Pharmaceutical Marijuana (MMJ) Market
Flower
Edibles
Oils and Tinctures
Topicals
Capsules
Inhalation
Oral
Dermal
Sublingual
Rectal
Pain Management
Neurological Disorders
Cancer Symptom Relief
Mental Health Conditions
Appetite Stimulation
Pharmacies
Online Sales
Specialty Clinics
Health and Wellness Stores
Direct Sales from Producers
18-24 years
25-34 years
35-44 years
45-54 years
55 years and older
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Pharmaceutical Marijuana (MMJ) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Pharmaceutical Marijuana (MMJ) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Pharmaceutical Marijuana (MMJ) Market, By Type
6. Global Pharmaceutical Marijuana (MMJ) Market, By Application
7. Global Pharmaceutical Marijuana (MMJ) Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Pharmaceutical Marijuana (MMJ) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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