United States Medicinal Grade Cannabis Market was valued at USD 8.05 Billion in 2022 and is projected to reach USD 27.20 Billion by 2030, growing at a CAGR of 17.80% from 2024 to 2030.
The US medicinal grade cannabis market has seen remarkable growth over the past few years, with increasing demand from various industries seeking its therapeutic benefits. As of now, medicinal cannabis is used for treating a wide range of health conditions, such as chronic pain, anxiety, epilepsy, and cancer-related symptoms. The market is divided into different types, each catering to specific industry requirements. This article will explore the different types of medicinal cannabis and how industries are utilizing them for better outcomes.
The two primary types of medicinal cannabis include CBD (Cannabidiol) and THC (Tetrahydrocannabinol) products. While THC is psychoactive and typically used for pain relief, muscle spasm treatment, and appetite stimulation, CBD is non-psychoactive and primarily used for managing anxiety, inflammation, and pain without causing a “high.” As the demand for medicinal cannabis increases, industries such as pharmaceuticals, wellness, and healthcare are increasingly relying on these cannabis types to develop effective treatments.
Industries within the healthcare sector are looking for medicinal grade cannabis to complement traditional treatment methods. Pharmaceuticals, for instance, are incorporating cannabis extracts into their drugs for conditions that have not responded well to conventional medications. Cannabis-based drugs are becoming a preferred choice due to their potential to manage chronic conditions effectively with fewer side effects. On the other hand, wellness industries are tapping into the non-psychoactive CBD for products such as oils, creams, and edibles. These products are highly sought after by consumers looking for natural remedies to improve their well-being.
The demand for medicinal cannabis is also growing within the research industry, where scientists are exploring the plant's potential in treating a wide array of conditions, from neurological disorders to mental health problems. The research findings will likely expand the market as new applications emerge, contributing to further industry development.
As medicinal grade cannabis continues to make waves in various industries, understanding the types and their respective uses is critical. With the expansion of its applications and increasing industry demand, the future of medicinal cannabis appears highly promising.
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Ultra Health
Mammoth Farms
Palo Verde Center
Hexo Corp
Bright Green Corporation
Copperstate Farms
Los Suenos Farms
Canna
Village Farms
Aurora
Canopy Growth
Cresco Labs
Glass House Farms
Organigram
C3 International
CannTrust
FlowerOne
Solaris Farms
7Acres
ThePharm
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. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. 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 US Medicinal Grade Cannabis Market
Flowers
Concentrates
Edibles
Topicals
Tinctures
Medical Use
Recreational Use
Dispensaries
Online Retail
Hospitals and Clinics
Hospitals
Clinics
Research Institutes
Individuals
THC Dominant
CBD Dominant
THC & CBD Balanced
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 US Medicinal Grade Cannabis 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. US Medicinal Grade Cannabis Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Medicinal Grade Cannabis Market, By Type
6. US Medicinal Grade Cannabis Market, By Application
7. US Medicinal Grade Cannabis Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Medicinal Grade Cannabis Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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