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Medical Cannabis Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

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    Report

  • 132 Pages
  • April 2022
  • Region: Global
  • IMARC Group
  • ID: 5577818
The global medical cannabis market reached a value of US$ 26.1 billion in 2021. Looking forward, the market is projected to reach US$ 52.1 billion by 2027, exhibiting a CAGR of 10.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use sectors. These insights are included in the report as a major market contributor.



Cannabis is a psychoactive drug that is derived from the cannabis plant of the Cannabaceae family. It was used medicinally in ancient Indian, Chinese, Egyptian and Islamic cultures. Nowadays, cannabis finds application in the treatment of a wide range of diseases and symptoms, including cancer, chronic pain, depression, arthritis, diabetes, glaucoma, migraines, epilepsy, multiple sclerosis, acquired immunodeficiency syndrome (AIDS), amyotrophic lateral sclerosis (ALS), Alzheimer’s, post-traumatic stress disorder (PTSD), Parkinson’s and Tourette’s. Owing to its therapeutic benefits, cannabis has been approved for medical use in numerous countries, with varying degrees of legal restrictions. Some of these countries include Argentina, Brazil, Canada, Chile, Colombia, Czech Republic, Germany, Italy, Mexico, Spain, the United Kingdom, the United States and Uruguay.

Global Medical Cannabis Market Drivers:


Cannabis is safer and has less severe side effects in comparison to other treatment options. It also finds usage along with other treatments either to enhance their efficacy or to combat adverse side effects. For instance, it is very effective in reducing nausea and increasing appetite among chemotherapy patients. Similarly, it is also used in combination with traditional opioid painkillers, which enables patients to reduce the dosage and frequency of opioids significantly and imparts greater pain relief.

The steadily aging population across the globe has played a significant role in driving the demand for medical cannabis as geriatric patients are more likely to develop chronic illnesses and require more physician visits.

Clinical trials, research and development (R&D) activities and commercialization of cannabis-based indications are further expected to catalyze the growth of the market.

Although expenditure on health products is less susceptible to fluctuations, the uptake of medical marijuana is liable to changes in disposable income due to its unconventional nature. As a result, increasing disposable incomes are projected to create a positive impact on the demand for medical cannabis.

Key Market Segmentation


This report provides an analysis of the key trends in each sub-segment of the global medical cannabis market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on species, derivatives, application, End-use and route of administration.

Breakup by Species:

  • Indica
  • Sativa
  • Hybrid

On the basis of species, the market has been segmented as cannabis indica, sativa and hybrid. Currently, cannabis indica dominates the market, holding the largest share. It is often used in the treatment of insomnia, relaxing the muscles, relieving body pains, headaches and migraines.

Breakup by Derivatives:

  • Cannabidiol (CBD)
  • Tetrahydrocannabinol (THC)
  • Others

Based on derivatives, the market has been divided into cannabidiol (CBD), tetrahydrocannabinol (THC) and others. CBD is majorly used for medical purposes due to its non-psychotic effect and low levels of toxicity, whereas THC is utilized to reduce the side-effects of AIDS and cancer treatment. At present, THC holds the majority of the market share.

Breakup by Application:

  • Cancer
  • Arthritis
  • Migraine
  • Epilepsy
  • Others

The market has also been divided on the basis of application, wherein cancer represents the leading category. Other major applications of cannabis include arthritis, migraine, epilepsy and others.

Breakup by End-use:

  • Pharmaceutical Industry
  • Research and Development Centres
  • Others

On the basis of End-use, the market has been segregated into the pharmaceutical industry, research and development centres, and others. Currently, the pharmaceutical industry represents the biggest End-user.

Breakup by Route of Administration:

  • Oral Solutions and Capsules
  • Vaporizers
  • Topicals
  • Others

Based on the route of administration, the market has been categorized into oral solutions and capsules, vaporizers, topicals and others. Oral solutions and capsules represent the biggest segment, accounting for the largest market share.

Regional Insights:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • Europe
  • Germany
  • France
  • Italy
  • Spain
  • Netherlands
  • Latin America
  • Middle East and Africa

On the geographical front, North America (the United States and Canada) enjoys the leading position in the market. The recent legalization of cannabis in North America for both recreational and medical purposes has been a major driver of the market growth. Other key regions include Europe (Germany, Italy, France, the Netherlands and Spain), Asia Pacific, Latin America, and Middle East and Africa.

Competitive Landscape


The report has also examined the competitive landscape of the market. Some of the major players include:
  • 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

Key Questions Answered in This Report

1. What is the global medical cannabis market growth?
2. What are the global medical cannabis market drivers?
3. What are the key industry trends in the global medical cannabis market?
4. What is the impact of COVID-19 on the global medical cannabis market?
5. What is the global medical cannabis market breakup by species?
6. What is the global medical cannabis market breakup by derivatives?
7. What is the global medical cannabis market breakup by application?
8. What is the global medical cannabis market breakup by End-use?
9. What is the global medical cannabis market breakup by route of administration?
10. What are the major regions in the global medical cannabis market?
11. Who are the key companies/players in the global medical cannabis market?
Frequently Asked Questions about the Global Medical Cannabis Market

What is the estimated value of the Global Medical Cannabis Market?

The Global Medical Cannabis Market was estimated to be valued at $26.1 Billion in 2021.

What is the growth rate of the Global Medical Cannabis Market?

The growth rate of the Global Medical Cannabis Market is 12.2%, with an estimated value of $52.1 Billion by 2027.

What is the forecasted size of the Global Medical Cannabis Market?

The Global Medical Cannabis Market is estimated to be worth $52.1 Billion by 2027.

Who are the key companies in the Global Medical Cannabis Market?

Key companies in the Global Medical Cannabis Market include Canopy Growth Corporation, GW Pharmaceuticals plc, Aurora Cannabis Inc., Aphria Inc., MedReleaf Corporation, Insys Therapeutics Inc., CanniMed Therapeutics Inc. and United Cannabis Corporation.

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Medical Cannabis Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Species
5.5 Market Breakup by Derivatives
5.6 Market Breakup by Application
5.7 Market Breakup by End-Use
5.8 Market Breakup by Route of Administration
5.9 Market Breakup by Region
5.10 Market Forecast
5.11 SWOT Analysis
5.11.1 Overview
5.11.2 Strengths
5.11.3 Weaknesses
5.11.4 Opportunities
5.11.5 Threats
5.12 Value Chain Analysis
5.12.1 Input Suppliers
5.12.2 Collectors
5.12.3 Manufacturers
5.12.4 Distributors
5.12.5 Exporters
5.12.6 Retailers
5.12.7 End-User
5.13 Porters Five Forces Analysis
5.13.1 Overview
5.13.2 Bargaining Power of Buyers
5.13.3 Bargaining Power of Suppliers
5.13.4 Degree of Competition
5.13.5 Threat of New Entrants
5.13.6 Threat of Substitutes
5.14 Key Success and Risk Factors
6 Market Breakup by Species
6.1 Indica
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Sativa
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Hybrid
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Derivatives
7.1 Cannabidiol (CBD)
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Tetrahydrocannabinol (THC)
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Others
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Application
8.1 Cancer
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Arthritis
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Migraine
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Epilepsy
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by End-Use
9.1 Pharmaceutical Industry
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Research and Development Centres
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Others
9.3.1 Market Trends
9.3.2 Market Forecast
10 Market Breakup by Route of Administration
10.1 Oral Solutions and Capsules
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Vaporizers
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Topicals
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Others
10.4.1 Market Trends
10.4.2 Market Forecast
11 Market Breakup by Region
11.1 North America
11.1.1 United States
11.1.1.1 Market Trends
11.1.1.2 Market Forecast
11.1.2 Canada
11.1.2.1 Market Trends
11.1.2.2 Market Forecast
11.2 Europe
11.2.1 Germany
11.2.1.1 Market Trends
11.2.1.2 Market Forecast
11.2.2 Italy
11.2.2.1 Market Trends
11.2.2.2 Market Forecast
11.2.3 France
11.2.3.1 Market Trends
11.2.3.2 Market Forecast
11.2.4 Netherlands
11.2.4.1 Market Trends
11.2.4.2 Market Forecast
11.2.5 Spain
11.2.5.1 Market Trends
11.2.5.2 Market Forecast
11.3 Latin America
11.3.1 Market Trends
11.3.2 Market Forecast
11.4 Asia Pacific
11.4.1 Market Trends
11.4.2 Market Forecast
11.5 Middle East and Africa
11.5.1 Market Trends
11.5.2 Market Forecast
12 Overview of Clinical Research Suggesting the Benefits of Medical Cannabis Across Various Indications
12.1 Alzheimer’s Disease
12.2 Autism
12.3 Cancer
12.4 Chronic Pain
12.5 Epilepsy
12.6 Migraine
12.7 Digestive Disorders
12.8 Multiple Sclerosis
12.9 Schizophrenia
12.10 Others
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
14 Key Player Profiles
14.1 Canopy Growth Corporation
14.2 GW Pharmaceuticals, plc
14.3 Aurora Cannabis, Inc.
14.4 Aphria, Inc.
14.5 MedReleaf Corporation
14.6 Insys Therapeutics, Inc.
14.7 CanniMed Therapeutics, Inc.
14.8 Cara Therapeutics, Inc.
14.9 United Cannabis Corporation
List of Figures
Figure 1: Global: Medical Cannabis Market: Major Drivers and Challenges
Figure 2: Global: Medical Cannabis Market: Value Trends (in Billion US$), 2016-2021
Figure 3: Global: Medical Cannabis Market: Breakup by Species (in %), 2021
Figure 4: Global: Medical Cannabis Market: Breakup by Derivatives (in %), 2021
Figure 5: Global: Medical Cannabis Market: Breakup by Application (in %), 2021
Figure 6: Global: Medical Cannabis Market: Breakup by End-Use (in %), 2021
Figure 7: Global: Medical Cannabis Market: Breakup by Route of Administration (in %), 2021
Figure 8: Global: Medical Cannabis Market: Breakup by Region (in %), 2021
Figure 9: Global: Medical Cannabis Market Forecast: Value Trends (in Billion US$), 2022-2027
Figure 10: Global: Medical Cannabis Industry: SWOT Analysis
Figure 11: Global: Medical Cannabis Industry: Value Chain Analysis
Figure 12: Global: Medical Cannabis Industry: Porter’s Five Forces Analysis
Figure 13: Global: Medical Cannabis Market (Indica): Value Trends (in Million US$), 2016 & 2021
Figure 14: Global: Medical Cannabis Market Forecast (Indica): Value Trends (in Million US$), 2022-2027
Figure 15: Global: Medical Cannabis Market (Sativa): Value Trends (in Million US$), 2016 & 2021
Figure 16: Global: Medical Cannabis Market Forecast (Sativa): Value Trends (in Million US$), 2022-2027
Figure 17: Global: Medical Cannabis Market (Hybrid): Value Trends (in Million US$), 2016 & 2021
Figure 18: Global: Medical Cannabis Market Forecast (Hybrid): Value Trends (in Million US$), 2022-2027
Figure 19: Global: Medical Cannabis Market (Cannabidiol-CBD): Value Trends (in Million US$), 2016 & 2021
Figure 20: Global: Medical Cannabis Market Forecast (Cannabidiol-CBD): Value Trends (in Million US$), 2022-2027
Figure 21: Global: Medical Cannabis Market (Tetrahydrocannabinol-THC): Value Trends (in Million US$), 2016 & 2021
Figure 22: Global: Medical Cannabis Market Forecast (Tetrahydrocannabinol-THC): Value Trends (in Million US$), 2022-2027
Figure 23: Global: Medical Cannabis Market (Other Derivatives): Value Trends (in Million US$), 2016 & 2021
Figure 24: Global: Medical Cannabis Market Forecast (Other Derivatives): Value Trends (in Million US$), 2022-2027
Figure 25: Global: Medical Cannabis Market (Application in Cancer): Value Trends (in Million US$), 2016 & 2021
Figure 26: Global: Medical Cannabis Market Forecast (Application in Cancer): Value Trends (in Million US$), 2022-2027
Figure 27: Global: Medical Cannabis Market (Application in Arthritis): Value Trends (in Million US$), 2016 & 2021
Figure 28: Global: Medical Cannabis Market Forecast (Application in Arthritis): Value Trends (in Million US$), 2022-2027
Figure 29: Global: Medical Cannabis Market (Application in Migraine): Value Trends (in Million US$), 2016 & 2021
Figure 30: Global: Medical Cannabis Market Forecast (Application in Migraine): Value Trends (in Million US$), 2022-2027
Figure 31: Global: Medical Cannabis Market (Application in Epilepsy): Value Trends (in Million US$), 2016 & 2021
Figure 32: Global: Medical Cannabis Market Forecast (Application in Epilepsy): Value Trends (in Million US$), 2022-2027
Figure 33: Global: Medical Cannabis Market (Other Applications): Value Trends (in Million US$), 2016 & 2021
Figure 34: Global: Medical Cannabis Market Forecast (Other Applications): Value Trends (in Million US$), 2022-2027
Figure 35: Global: Medical Cannabis Market (End-Use in Pharmaceutical Industry): Value Trends (in Million US$), 2016 & 2021
Figure 36: Global: Medical Cannabis Market Forecast (End-Use in Pharmaceutical Industry): Value Trends (in Million US$), 2022-2027
Figure 37: Global: Medical Cannabis Market (End-Use in Research and Development Centres): Value Trends (in Million US$), 2016 & 2021
Figure 38: Global: Medical Cannabis Market Forecast (End-Use in Research and Development Centres): Value Trends (in Million US$), 2022-2027
Figure 39: Global: Medical Cannabis Market (Other End-Uses): Value Trends (in Million US$), 2016 & 2021
Figure 40: Global: Medical Cannabis Market Forecast (Other End-Uses): Value Trends (in Million US$), 2022-2027
Figure 41: Global: Medical Cannabis Market (Administration through Oral Solutions and Capsules): Value Trends (in Million US$), 2016 & 2021
Figure 42: Global: Medical Cannabis Market Forecast (Administration through Oral Solutions and Capsules): Value Trends (in Million US$), 2022-2027
Figure 43: Global: Medical Cannabis Market (Administration through Vaporizers): Value Trends (in Million US$), 2016 & 2021
Figure 44: Global: Medical Cannabis Market Forecast (Administration through Vaporizers): Value Trends (in Million US$), 2022-2027
Figure 45: Global: Medical Cannabis Market (Administration through Topicals): Value Trends (in Million US$), 2016 & 2021
Figure 46: Global: Medical Cannabis Market Forecast (Administration through Topicals): Value Trends (in Million US$), 2022-2027
Figure 47: Global: Medical Cannabis Market (Other Route of Administrations): Value Trends (in Million US$), 2016 & 2021
Figure 48: Global: Medical Cannabis Market Forecast (Other Route of Administrations): Value Trends (in Million US$), 2022-2027
Figure 49: North America: Medical Cannabis Market: Value Trends (in Million US$), 2016 & 2021
Figure 50: North America: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 51: United States: Medical Cannabis Market: Value Trends (in Million US$), 2016 & 2021
Figure 52: United States: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 53: Canada: Medical Cannabis Market: Value Trends (in Million US$), 2016 & 2021
Figure 54: Canada: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 55: Europe: Medical Cannabis Market: Value Trends (in Million US$), 2016 & 2021
Figure 56: Europe: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 57: Germany: Medical Cannabis Market: Value Trends (in Million US$), 2016 & 2021
Figure 58: Germany: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 59: Italy: Medical Cannabis Market: Value Trends (in Million US$), 2016 & 2021
Figure 60: Italy: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 61: France: Medical Cannabis Market: Value Trends (in Million US$), 2016 & 2021
Figure 62: France: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 63: Netherlands: Medical Cannabis Market: Value Trends (in Million US$), 2016 & 2021
Figure 64: Netherlands: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 65: Spain: Medical Cannabis Market: Value Trends (in Million US$), 2016 & 2021
Figure 66: Spain: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 67: Latin America: Medical Cannabis Market: Value Trends (in Million US$), 2016 & 2021
Figure 68: Latin America: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 69: Asia Pacific: Medical Cannabis Market: Value Trends (in Million US$), 2016 & 2021
Figure 70: Asia Pacific: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 71: Middle East and Africa: Medical Cannabis Market: Value Trends (in Million US$), 2016 & 2021
Figure 72: Middle East and Africa: Medical Cannabis Market Forecast: Value Trends (in Million US$), 2022-2027
List of Tables
Table 1: Global: Medical Cannabis Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Medical Cannabis Market Forecast: Breakup by Species (in Million US$), 2022-2027
Table 3: Global: Medical Cannabis Market Forecast: Breakup by Derivatives (in Million US$), 2022-2027
Table 4: Global: Medical Cannabis Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Medical Cannabis Market Forecast: Breakup by End-Use (in Million US$), 2022-2027
Table 6: Global: Medical Cannabis Market Forecast: Breakup by Route of Administration (in Million US$), 2022-2027
Table 7: Global: Medical Cannabis Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 8: Global: Medical Cannabis Market: Competitive Structure
Table 9: Global: Medical Cannabis Market: Key Players

Companies Mentioned

  • 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

Methodology

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