The global cannabis market is expected to reach US$ 153,689.9 Mn in 2027 from US$ 10,838.1 in 2018. The market is estimated to grow with a CAGR of 34.5% from 2019-2027.
The key factors such as increasing number of countries decriminalizing the use of cannabis and legalizing the cannabis for medical use, increasing awareness of benefits offered by cannabis through conduction of workshops and symposiums and increasing technological development in the field of medical cannabis is expected to account for the growth of the global cannabis market.
Top Companies Covered in this Report: Aphria, Inc., Aurora Cannabis, Cannabis Science, Inc., Canopy Growth Corporation, Medical Marijuana, Inc.,. VIVO Cannabis Inc.,. Tikun Olam Ltd,. Terra Tech Corp., Tilray, Cronos Group
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In recent years the whole, unprocessed marijuana plant or its basic extracts are used to treat symptoms of illness and other medical conditions. The US FDA has not approved marijuana plant as medicine but certain chemicals from the plant called cannabinoids, are FDA-approved medications which are in the form of pill. As cannabis helps in treating certain illnesses and symptoms many regions/countries have legalized marijuana for medical use. Currently the two cannabinoids from the marijuana plant that are of medical interest are tetrahydrocannabinol (THC) and cannabidiol (CBD). THC may also decrease pain, inflammation (swelling and redness), and muscle control problems. CBD is used to reduce pain, inflammation, control epileptic seizures, and to treat mental illness and addictions. The FDA approved a CBD-based liquid medication called Epidiolex for the treatment of two forms of severe childhood epilepsy, Dravet syndrome and Lennox-Gastaut syndrome. A few studies have reported that inhaled (smoked or vaporized) marijuana can be helpful treatment of neuropathic pain (pain caused by damaged nerves). Thus growing medicinal applications of cannabis in diseases like HIV, epilepsy and others is expected to drive cannabis market during the forecast period.
The global cannabis market, based on the application was segmented into medical and recreational uses. In 2018, the medical segment held the largest share of the market, by application. However, the recreational segmented is anticipated to witness fastest growth in the cannabis market, based on application.
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Table Of Content
2. Global Cannabis Market – Key Takeaways
3. Research Methodology
4. Global Cannabis- Market Landscape
5. Global Cannabis Market – Key Industry Dynamics
6. Cannabis Market – Global Analysis
7. Cannabis Market Analysis And Forecasts To 2027 – Product Type
8. Cannabis Market Analysis And Forecasts To 2027 – Application
9. Cannabis Market Analysis And Forecasts To 2027 – Compound
10. Cannabis Market Revenue and Forecasts to 2027 – Geographical Analysis
11. Asia Pacific Cannabis Market Revenue and Forecasts to 2027
12. Middle East & Africa Cannabis Market Revenue and Forecasts to 2027
13. South and Central America Cannabis Market Revenue and Forecasts to 2027
14. Cannabis Market – Industry Landscape
15. Cannabis Market-Key Company Profiles
15.1 Aphria, Inc.
15.2 Aurora Cannabis
15.3 Cannabis Science, INC.
15.4 Canopy Growth Corporation
15.5 Medical Marijuana, Inc.
15.6 VIVO Cannabis Inc.
15.7 Tikun Olam
15.8 Terra Tech Corp.
15.10 The Cronos Group
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