Pharmaceutical Marijuana (MMJ) Market was valued at USD 28.5 Billion in 2022 and is projected to reach USD 55.3 Billion by 2030, growing at a CAGR of 9.0% from 2024 to 2030.
From 2023 to 2033, the Pharmaceutical Marijuana (MMJ) market is expected to expand even further, influenced by multiple factors such as regulatory changes, technological advancements, and a growing demand for natural remedies. The continued increase in acceptance and the expansion of medical marijuana programs will likely lead to wider access to MMJ treatments, especially in developing markets. Experts predict that Asia-Pacific regions could be key players in the market's growth, with countries like Australia and Thailand already paving the way for legalization and medical marijuana use.
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The Pharmaceutical Marijuana (MMJ) market has witnessed significant growth between 2018 and 2022, with demand driven by increased medical use and changes in legislation across various countries. During this period, the market experienced a surge in patient enrollment in MMJ programs, expansion of legal frameworks, and greater public acceptance of marijuana as a medicinal product. As of 2022, the global market size reached billions of dollars, fueled by innovations in product types such as oils, edibles, and tinctures. In regions like North America and Europe, medical marijuana has become a mainstream treatment option for a range of chronic conditions, including pain, epilepsy, and anxiety.
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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
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 Global Pharmaceutical Marijuana (MMJ) Market
Cancer
Arthritis
Migraine
Epilepsy
Others
Based on Types the Market is categorized into Below types that held the largest Pharmaceutical Marijuana (MMJ) market share In 2023.
THC-dominant
CBD-dominant
Balanced THC & CBD
Global (United States, Global 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
Global
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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