Legal Cannabis for Medical Use Market size is estimated to be USD 18.2 Billion in 2024 and is expected to reach USD 55.3 Billion by 2033 at a CAGR of 13.5% from 2026 to 2033.
The global legal cannabis for medical use market was valued at USD 28.1 billion in 2022, with a projected compound annual growth rate (CAGR) of 18.2% from 2023 to 2030. The market growth is primarily driven by increasing legalization of medical cannabis in various regions and growing acceptance of cannabis based therapies. The North American region led the market, accounting for approximately 45% of the global market share in 2022, owing to favorable regulatory conditions in the U.S. and Canada. Europe follows as the second largest market, with increasing medical cannabis prescriptions and a rising patient base. Other regions, such as Latin America and the Asia Pacific, also show significant growth potential as they begin to relax cannabis laws and invest in medical cannabis infrastructure. These regions are expected to grow at a notable pace, with Latin America particularly benefitting from rising healthcare access and increasing medical cannabis awareness.
The market also presents substantial growth opportunities in emerging regions like Asia Pacific and Latin America. In these regions, legalization trends and improvements in healthcare infrastructure are expected to facilitate growth in the medical cannabis sector. Additionally, Latin American countries like Colombia and Mexico have become attractive markets due to their evolving regulations on medical cannabis. Furthermore, the Asia Pacific region, with countries like Thailand and Australia, is gradually expanding its legal medical cannabis markets, offering lucrative opportunities for market players. As the global medical cannabis market expands, technological advancements in cultivation and product innovation are expected to contribute to an increase in the availability of cannabis based treatments, driving the market forward.
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BOL Pharma
Tilray
Medreleaf Corporation
Aurora Cannabis
Inc
Canopy Growth Corporation
Insys Therapeutics
Inc
Aphria
Inc
MGC Pharmaceuticals Limited
GW Pharmaceuticals
plc
Medical Marijuana Inc
Medipharm Labs
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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 Legal Cannabis for Medical Use Market
Age Groups
Gender
Socioeconomic Status
Pain Management
Neurological Disorders
Mental Health Conditions
Flower
Concentrates
Edibles
Topicals
Medical Dispensaries
Online Retail
Hospital Networks
Purchase Frequency
Usage Patterns
Loyalty and Brand Preference
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 Legal Cannabis for Medical Use 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 Legal Cannabis for Medical Use Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Legal Cannabis for Medical Use Market, By Type
6. Global Legal Cannabis for Medical Use Market, By Application
7. Global Legal Cannabis for Medical Use Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Legal Cannabis for Medical Use Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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