[Research Report] The medical marijuana market size was valued at US$ 11,706.50 million in 2021 and is projected to reach US$ 40,027.59 million by 2028; it is estimated to register a CAGR of 19.2% from 2022 to 2028.
Analyst’s ViewPoint
The cultivation and usage of medical cannabis have been legalized in America. In the United States, marijuana has been legalized for medical use in 37 states and the District of Columbia as of February 2022. Canada passed the Cannabis Act in 2018, which established strict regulations for controlling the production, distribution, sale, and possession of cannabis throughout the nation. Mexico, Luxembourg, Lesotho, and several other countries have recently legalized the medical use of marijuana. Uruguay was the first nation to legalize the recreational use of cannabis in 2012. Brazil, on the other hand, authorized medical marijuana use in 2014 and permitted the importation of CBD oil-based drugs, THC-based products, and marijuana flowers in 2016. In 2017, Peru authorized the medicinal and therapeutic use of cannabis and its derivatives under the legislation.
Although the use of cannabis has been legalized in many countries, the cultivation and production of marijuana have been primarily limited to developing nations. In September 2019, the Ministry of Commerce, Agriculture, and Fisheries of Jamaica announced a collaboration with the Harvard International Phytomedicines and Medical Cannabis Institute (HIPI) to conduct research on the pharmacological benefits of marijuana. Jamaica also intends to leverage this partnership to advance its national marijuana industry. Furthermore, the World Health Organization (WHO) reports that about 80% of the global population uses marijuana or cannabis for medicinal purposes. As a result, the increasing acceptance, cultivation, and production of medical marijuana in developing countries are significantly contributing to the growth of the medical marijuana market
Market Overview
Medical marijuana treats diseases or ailments by using the marijuana plant or its components. It is the same product as recreational marijuana, but it's used for medical reasons. Medical marijuana continues to have a significant impact on the healthcare industry, especially in cases where traditional medicines are not entirely suitable. Essentially, medical marijuana is just a typical marijuana plant that undergoes processing to obtain the fundamental composition of cannabinoids required to synthesize the product for use. One of the key factors contributing to the growth of this market is the increasing approvals of medical marijuana products and the growing acceptance of marijuana's medicinal properties. However, the growth of the market is also hindered by the illegal use of cannabis as a street drug and misconceptions surrounding marijuana, which limit its potential applications in the medical field.
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Medical Marijuana Market: Strategic Insights
Market Size Value in US$ 11,706.50 Million in 2021 Market Size Value by US$ 40,027.59 Million by 2028 Growth rate CAGR of 19.2% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2021
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Medical Marijuana Market: Strategic Insights
| Market Size Value in | US$ 11,706.50 Million in 2021 |
| Market Size Value by | US$ 40,027.59 Million by 2028 |
| Growth rate | CAGR of 19.2% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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Market Driver
Increasing Approvals of Medical Marijuana Products to Drive the Medical Marijuana Market Growth
The medicinal potential of marijuana has attracted various researchers and companies to use marijuana in medical applications. For instance, tetrahydrocannabinol (THC) is predominantly used for producing medicinal products. The US Food and Drug Administration (FDA) has approved THC-based medicinal products such as Cesamet, which contains naboline as its active ingredient, is a synthetically derived product that has a structure similar to THC. Cesamet is prescribed for the treatment of nausea in patients receiving chemotherapy. Cesamet is generally prescribed when other medications cannot control nausea and vomiting. The FDA has also approved Marinol and Syndros for therapeutic uses in the US. Marinol and Syndros contain the active ingredient dronabinol—a synthetic 9-THC considered the psychoactive component of cannabis. Marinol and Syndros drugs are prescribed to stimulate appetite in patients with wasting syndrome developed as one of the indications of AIDS. Similarly, various marijuana-based products have been approved or are in clinical trials. For instance, nabiximols (Sativex) is an approved drug commercialized in Canada. Nabiximols is a cannabis extract used to treat spasticity and neuropathic pain related to multiple sclerosis. It is formulated with a combination of THC and other cannabidiol (CBD). In February 2020, CanaQuest Medical Corp, a Canadian company, applied for the approval of the production and commercialization of Mentabinol to Health Canada. Mentabinol is a THC-based product, and its approval application has been filed under the Cannabis Act. Increase in approval of the above-mentioned marijuana-based products by FDA is driving the medical marijuana market growth.
Segmental AnalysisProduct-Based Insights
Based on product, the medical marijuana market is bifurcated into dried form and extract form. The extract segment held the largest share in 2021 and is anticipated to register the highest CAGR in the medical marijuana market during the forecast period. The growth of the extract form segment is attributed to several factors, including the increasing demand for liquid extracts in medical applications, rising awareness of the benefits of extracts over dried marijuana, and the growing trend of health and wellness with the consumption of natural health products.
A cannabis extract is a specific type of cannabis concentrate. The extract is obtained from cannabis plants that are processed to keep the most required and desired compounds of the plant by removing excess plant materials and other impurities. The concentrates of marijuana have higher proportions of terpenes and cannabinoids as compared to naturally occurring cannabis flowers. Moreover, cannabis concentrates also help to increase the potency of the flower. One can consume cannabis concentrates on their own without any need for further processing for multiple reasons. Some of the processes that are used to produce cannabis concentrates include dry processing, dry ice processing, water-based processing, pressure/heat processing, and the use of flammable or non-flammable solvents. Once produced, a concentrate may look like a liquid wax, a soft solid, or a hard solid.
Application -Based Insights
Based on application, the medical marijuana market is segmented into pain management, tourette’s, alzheimer’s disease, migraines, depression and anxiety, multiple sclerosis, cancer, and others. The pain management segment held the largest medical marijuana market share in 2021 and is anticipated to register the highest CAGR during the forecast period.
Distribution Channel-Based Insights
In terms of distribution channel, the medical marijuana market is categorized into retail pharmacy, e-commerce, and others. The retail pharmacy segment held the largest medical marijuana market share in 2021. However, the E-commerce segment is anticipated to register the highest CAGR during the forecast period.
Regional Analysis
North America held the largest market share for the medical marijuana market in 2021 and expected to retain its market position during the forecast period. The factors enabling the North American market growth include the growing application of cannabis in the medical field, research activities associated with the benefits of cannabis, and developed healthcare infrastructure is likely to offer wider growth opportunities to the market players during the forecast period. Moreover, product launches are also fueling the growth in the North America medical marijuana market. In North America, the US records the maximum medical marijuana market share. The increasing incidence of chronic ailment among the growing geriatric population and expanding presence of key market players drive the medical marijuana market in the country. In addition, the increasing cannabis legalization in the U.S. and growing government support to enhance medical cannabis studies also offer an attractive environment for the players in the medical marijuana market by 2028.
Aphria, Inc., Canopy Growth Corporation, CanaQuest Medical Corporation, GW Pharmaceuticals, Organigram Holdings Inc., VIVO Cannabis Inc., Panaxia Pharmaceutical Industries Ltd., Phoena Holdings Inc., Emerald Health Therapeutics Inc., and MARICANN INC are among the leading players operating in the global medical marijuana market growth. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their market growth. A few developments are mentioned below:
Medical Marijuana Market Report Scope
In November 2021, VIVO Cannabis Inc. launched its newest medical cannabis product formulation: high-dose cannabidiol (CBD) oil under its Beacon Medical brand. The entire family of Beacon Medical oil products are formulated using a non-GMO, food-grade medium-chain triglycerides (MCT) carrier oil which results in the final product being both scentless and flavourless in taste. VIVO simultaneously launched a Pediatric Compassionate Care Program to support caregivers and families requiring medical cannabis to treat a variety of pediatric conditions.
In November 2020, Panaxia Global Israeli subsidiary, Panaxia Labs Israel Ltd. (Panaxia Israel) completed the registration process and receipt of final regulatory approval from the health authorities in Germany, Europe's largest and fastest-growing cannabis market, for the marketing and distribution of a line of medical cannabis premium products. The products would be marketed in Germany under the brand name, Naxiva-Panaxol.
In September 2020, Emerald Health Therapeutics, Inc. and STENOCARE A/S received special approval from the Swedish Medicines Agency to provide medical cannabis oil to Swedish patients who have applied via their doctor to use such products for treatment purposes. Under an agreement signed in November 2019, Emerald supply STENOCARE with its medical cannabis products for Denmark and other markets such as Sweden. Together with the Swedish authorities, the companies are now processing the required information to commence import and distribution in Sweden.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Application, and Distribution Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global medical marijuana market based on product is dried form and extract form. The extract form segment is likely to hold the largest share of the market in 2022. Moreover, the segment is anticipated to register the highest CAGR in the market during the forecast period.
The factors that are driving and restraining factors that will affect the medical marijuana market in the coming years. Factors such as increasing approvals of medical marijuana products and rising acceptance of medicinal use of marijuana in America. However, the illegal use of cannabis as a street drug and misconceptions regarding marijuana is likely to have a negative impact on the growth of the market in the coming years.
The medical marijuana market majorly consists of the players such as Aphria, Inc.; Canopy Growth Corporation; CanaQuest Medical Corporation; GW Pharmaceuticals; Organigram Holdings Inc.; VIVO Cannabis Inc.; Panaxia Pharmaceutical Industries Ltd.; Phoena Holdings Inc.; Emerald Health Therapeutics Inc.; and MARICANN INC.
Medical marijuana is a term for derivatives of the Cannabis sativa plant that are used to ease symptoms caused by certain medical conditions. Medical marijuana is also known as medical cannabis. Cannabis sativa contains many active compounds. The best known are delta-9 tetrahydrocannabinol (THC) and cannabidiol (CBD). THC is the primary ingredient in marijuana. Medical marijuana uses the marijuana plant or chemicals in it to treat diseases or conditions. It's basically the same product as recreational marijuana, but it's taken for medical purposes.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Medical Marijuana Market – by Product
1.3.2 Global Medical Marijuana Market – by Application
1.3.3 Global Medical Marijuana Market – by Distribution Channel
1.3.4 Global Medical Marijuana Market – by Geography
2. Medical Marijuana Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Global Medical Marijuana Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.2.2 Europe– PEST Analysis
4.2.3 Asia Pacific– PEST Analysis
4.2.4 Middle East & Africa– PEST Analysis
4.2.5 South & Central America – PEST Analysis
4.3 Expert Opinion
5. Medical Marijuana Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Approvals of Medical Marijuana Products
5.1.2 Rising Acceptance of Medicinal Use of Marijuana in America
5.2 Market Restraints
5.2.1 Illegal Use of Cannabis as Street Drug and Misconceptions Regarding Marijuana
5.3 Market Opportunities
5.3.1 Increase in Job Opportunities in Marijuana Industry
5.4 Future Trends
5.4.1 Widespread Distribution of Medical Marijuana
5.5 Impact Analysis
6. Medical Marijuana Market – Global Analysis
6.1 Global Medical Marijuana Market Revenue Forecast and Analysis
6.1.1 Global Medical Marijuana Market, By Geography - Forecast and Analysis
6.1.2 Global Medical Marijuana Market – Market Potential Analysis, By Region
6.2 Company Analysis
6.2.1 Market Positioning of Key Players
6.3 Comparative Company Analysis
6.4 Growth Strategy Analysis
6.5 Performance of Key Players
6.5.1 Aphria, Inc.
6.5.2 Canopy Growth Corporation
7. Medical Marijuana Market Revenue and Forecast To 2028– by Product
7.1 Overview
7.2 Medical Marijuana Market Revenue Share, by Product (2021 and 2028)
7.3 Dried Form
7.3.1 Overview
7.3.2 Dried Form: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Extract Form
7.4.1 Overview
7.4.2 Extract Form: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
8. Medical Marijuana Market Analysis – by Application
8.1 Overview
8.2 Medical Marijuana Market Revenue Share, by Application (2021 and 2028)
8.3 Pain Management
8.3.1 Overview
8.3.2 Pain Management: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Tourette’s
8.4.1 Overview
8.4.2 Tourette’s: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Alzheimer’s Disease
8.5.1 Overview
8.5.2 Alzheimer’s Disease: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Migraines
8.6.1 Overview
8.6.2 Migraines: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Depression and Anxiety
8.7.1 Overview
8.7.2 Depression and Anxiety: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
8.8 Multiple Sclerosis
8.8.1 Overview
8.8.2 Multiple Sclerosis: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
8.9 Cancer
8.9.1 Overview
8.9.2 Cancer: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
8.10 Others
8.10.1 Overview
8.10.2 Others: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
9. Medical Marijuana Market – by Distribution Channel
9.1 Overview
9.2 Medical Marijuana Market, by Distribution Channel (2021 and 2028)
9.3 Retail Pharmacy
9.3.1 Overview
9.3.2 Retail Pharmacy: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
9.4 E-Commerce
9.4.1 Overview
9.4.2 E-commerce: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Others
9.5.1 Overview
9.5.2 Others: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10. Medical Marijuana Market Revenue and Forecast to 2028 – Geographical Analysis
10.1 North America: Medical Marijuana Market
10.1.1 Overview
10.1.2 Medical Marijuana Market Revenue and Forecast to 2028 (US$ Mn)
10.1.3 North America: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
10.1.4 North America: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
10.1.5 North America: Medical Marijuana Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
10.1.6 North America: Medical Marijuana Market, by Country, 2021 & 2028 (%)
10.1.6.1 US: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.1.6.1.1 US: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.1.6.1.2 US: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
10.1.6.1.3 US: Medical Marijuana Market, by Application– Revenue and Forecast to 2028 (US$ Million)
10.1.6.1.4 US: Medical Marijuana Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
10.1.6.2 Canada: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.1.6.2.1 Canada: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.1.6.2.2 Canada: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
10.1.6.2.3 Canada: Medical Marijuana Market, by Application– Revenue and Forecast to 2028 (US$ Million)
10.1.6.2.4 Canada: Medical Marijuana Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
10.1.6.3 Mexico: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.1.6.3.1 Mexico: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.1.6.3.2 Mexico: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
10.1.6.3.3 Mexico: Medical Marijuana Market, by Application– Revenue and Forecast to 2028 (US$ Million)
10.1.6.3.4 Mexico: Medical Marijuana Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
10.2 Europe: Medical Marijuana Market
10.2.1 Overview
10.2.2 Europe: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.2.3 Europe: Medical Marijuana Market, by Product– Revenue and Forecast to 2028 (US$ Million)
10.2.4 Europe: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
10.2.5 Europe: Medical Marijuana Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million)
10.2.6 Europe: Medical Marijuana Market, by Country, 2021 & 2028 (%)
10.2.6.1 Germany: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.1.1 Germany: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.1.2 Germany: Medical Marijuana Market, by Product– Revenue and Forecast to 2028 (US$ Million)
10.2.6.1.3 Germany: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
10.2.6.1.4 Germany: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
10.2.6.2 UK: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.2.1 UK: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.2.2 UK: Medical Marijuana Market, by Product– Revenue and Forecast to 2028 (US$ Million)
10.2.6.2.3 UK: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
10.2.6.2.4 UK: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
10.2.6.3 France: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.3.1 France: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.3.2 France: Medical Marijuana Market, by Product– Revenue and Forecast to 2028 (US$ Million)
10.2.6.3.3 France: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
10.2.6.3.4 France: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
10.2.6.4 Italy: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.4.1 Italy: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.4.2 Italy: Medical Marijuana Market, by Product– Revenue and Forecast to 2028 (US$ Million)
10.2.6.4.3 Italy: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
10.2.6.4.4 Italy: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
10.2.6.5 Spain: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.5.1 Spain: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.5.2 Spain: Medical Marijuana Market, by Product– Revenue and Forecast to 2028 (US$ Million)
10.2.6.5.3 Spain: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
10.2.6.5.4 Spain: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
10.2.6.6 Rest of Europe: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.6.1 Rest of Europe: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.6.2 Rest of Europe: Medical Marijuana Market, by Product– Revenue and Forecast to 2028 (US$ Million)
10.2.6.6.3 Rest of Europe: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
10.2.6.6.4 Rest of Europe: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
10.3 Asia Pacific: Medical Marijuana Market
10.3.1 Overview
10.3.2 Asia Pacific: Medical Marijuana Market - Revenue and Forecast to 2028 (US$ Million)
10.3.3 Asia Pacific: Medical Marijuana Market, by Product, 2019–2028 (US$ Million)
10.3.4 Asia Pacific: Medical Marijuana Market, by Application, 2019–2028 (US$ Million)
10.3.5 Asia Pacific: Medical Marijuana Market, by Distribution Channel , 2019–2028 (US$ Million)
10.3.6 Asia Pacific: Medical Marijuana Market, by Country, 2021 & 2028 (%)
10.3.6.1 China: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.3.6.1.1 China: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.3.6.1.2 China: Medical Marijuana Market, by Product, 2019–2028 (US$ Million)
10.3.6.1.3 China: Medical Marijuana Market, by Application, 2019–2028 (US$ Million)
10.3.6.1.4 China: Medical Marijuana Market, by Distribution Channel, 2019–2028 (US$ Million)
10.3.6.2 Japan: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.3.6.2.1 Japan: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.3.6.2.2 Japan: Medical Marijuana Market, by Product, 2019–2028 (US$ Million)
10.3.6.2.3 Japan: Medical Marijuana Market, by Application, 2019–2028 (US$ Million)
10.3.6.2.4 Japan: Medical Marijuana Market, by Distribution Channel, 2019–2028 (US$ Million)
10.3.6.3 India: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.3.6.3.1 India: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.3.6.3.2 India: Medical Marijuana Market, by Product, 2019–2028 (US$ Million)
10.3.6.3.3 India: Medical Marijuana Market, by Application, 2019–2028 (US$ Million)
10.3.6.3.4 India: Medical Marijuana Market, by Distribution Channel, 2019–2028 (US$ Million)
10.3.6.4 Australia: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.3.6.4.1 Australia: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.3.6.4.2 Australia: Medical Marijuana Market, by Product, 2019–2028 (US$ Million)
10.3.6.4.3 Australia: Medical Marijuana Market, by Application, 2019–2028 (US$ Million)
10.3.6.4.4 Australia: Medical Marijuana Market, by Distribution Channel, 2019–2028 (US$ Million)
10.3.6.5 South Korea: Medical Marijuana Market– Revenue and Forecast to 2028 (US$ Million)
10.3.6.5.1 South Korea: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.3.6.5.2 South Korea: Medical Marijuana Market, by Product, 2019–2028 (US$ Million)
10.3.6.5.3 South Korea: Medical Marijuana Market, by Application, 2019–2028 (US$ Million)
10.3.6.5.4 South Korea: Medical Marijuana Market, by Distribution Channel, 2019–2028 (US$ Million)
10.3.6.6 Rest of Asia Pacific: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.3.6.6.1 Rest of Asia Pacific: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.3.6.6.2 Rest of Asia Pacific: Medical Marijuana Market, by Product, 2019–2028 (US$ Million)
10.3.6.6.3 Rest of Asia Pacific: Medical Marijuana Market, by Application, 2019–2028 (US$ Million)
10.3.6.6.4 Rest of Asia Pacific: Medical Marijuana Market, by Distribution Channel, 2019–2028 (US$ Million)
10.4 Middle East & Africa Medical Marijuana Market
10.4.1 Overview
10.4.2 Middle East & Africa Medical Marijuana Market Revenue and Forecast to 2028 (US$ Million)
10.4.3 Middle East & Africa: Medical Marijuana Market, Revenue and Forecasts to 2028, By Product (US$ Million)
10.4.4 Middle East & Africa: Medical Marijuana Market, Revenue and Forecasts to 2028, By Application (US$ Million)
10.4.5 Middle East & Africa: Medical Marijuana Market, Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
10.4.6 Middle East & Africa: Medical Marijuana Market, by Country, 2021 & 2028 (%)
10.4.6.1 UAE: Medical Marijuana Market Revenue and Forecast to 2028 (US$ Million)
10.4.6.1.1 UAE: Medical Marijuana Market Revenue and Forecast to 2028 (US$ Million)
10.4.6.1.2 UAE: Medical Marijuana Market, Revenue and Forecasts to 2028, By Product (US$ Million)
10.4.6.1.3 UAE: Medical Marijuana Market, Revenue and Forecasts to 2028, By Application (US$ Million)
10.4.6.1.4 UAE: Medical Marijuana Market, Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
10.4.6.2 Saudi Arabia: Medical Marijuana Market Revenue and Forecast to 2028 (US$ Million)
10.4.6.2.1 Saudi Arabia: Medical Marijuana Market Revenue and Forecast to 2028 (US$ Million)
10.4.6.2.2 Saudi Arabia: Medical Marijuana Market, Revenue and Forecasts to 2028, By Product (US$ Million)
10.4.6.2.3 Saudi Arabia: Medical Marijuana Market, Revenue and Forecasts to 2028, By Application (US$ Million)
10.4.6.2.4 Saudi Arabia: Medical Marijuana Market, Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
10.4.6.3 South Africa: Medical Marijuana Market Revenue and Forecast to 2028 (US$ Million)
10.4.6.3.1 South Africa Medical Marijuana Market Revenue and Forecast to 2028 (US$ Million)
10.4.6.3.2 South Africa: Medical Marijuana Market, Revenue and Forecasts to 2028, By Product (US$ Million)
10.4.6.3.3 South Africa: Medical Marijuana Market, Revenue and Forecasts to 2028, By Application (US$ Million)
10.4.6.3.4 South Africa: Medical Marijuana Market, Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
10.4.6.4 Rest of Middle East & Africa: Medical Marijuana Market Revenue and Forecast to 2028 (US$ Million)
10.4.6.4.1 Rest of Middle East & Africa: Medical Marijuana Market Revenue and Forecast to 2028 (US$ Million)
10.4.6.4.2 Rest of Middle East & Africa: Medical Marijuana Market, Revenue and Forecasts to 2028, By Product (US$ Million)
10.4.6.4.3 Rest of Middle East & Africa: Medical Marijuana Market, Revenue and Forecasts to 2028, By Application (US$ Million)
10.4.6.4.4 Rest of Middle East & Africa: Medical Marijuana Market, Revenue and Forecasts to 2028, By Distribution Channel (US$ Million)
10.5 South & Central America Medical Marijuana Market
10.5.1 Overview
10.5.2 South & Central America: Medical Marijuana Market Revenue and Forecast to 2028 (US$ Mn)
10.5.3 South & Central America: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
10.5.4 South & Central America: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
10.5.5 South & Central America: Medical Marijuana Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
10.5.6 South & Central America: Medical Marijuana Market, by Country, 2021 & 2028 (%)
10.5.6.1 Brazil: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.5.6.1.1 Brazil: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.5.6.1.2 Brazil: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
10.5.6.1.3 Brazil: Medical Marijuana Market, by Application– Revenue and Forecast to 2028 (US$ Million)
10.5.6.1.4 Brazil: Medical Marijuana Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
10.5.6.2 Argentina: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.5.6.2.1 Argentina: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.5.6.2.2 Argentina: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
10.5.6.2.3 Argentina: Medical Marijuana Market, by Application– Revenue and Forecast to 2028 (US$ Million)
10.5.6.2.4 Argentina: Medical Marijuana Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
10.5.6.3 Rest of South & Central America: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.5.6.3.1 Rest of South & Central America: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
10.5.6.3.2 Rest of South & Central America: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
10.5.6.3.3 Rest of South & Central America: Medical Marijuana Market, by Application– Revenue and Forecast to 2028 (US$ Million)
10.5.6.3.4 Rest of South & Central America: Medical Marijuana Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
11. Impact of COVID-19 Pandemic on Medical Marijuana Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
11.2 Europe: Impact Assessment of COVID-19 Pandemic
11.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11.4 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
11.5 South & Central America: Impact Assessment of COVID-19 Pandemic
12. Medical Marijuana Market – Industry Landscape
12.1 Overview
12.2 Growth Strategies in the Medical Marijuana Market (%)
12.3 Organic Developments
12.3.1 Overview
12.4 Inorganic Developments
12.4.1 Overview
13. Company Profiles
13.1 VIVO Cannabis Inc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Panaxia Pharmaceutical Industries Ltd.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Phoena Holdings Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Emerald Health Therapeutics Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 MARICANN INC.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Aphria, Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Canopy Growth Corporation
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 CanaQuest Medical Corporation
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 GW Pharmaceuticals
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Organigram Holdings Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms for Medical Marijuana Market
LIST OF TABLES
Table 1. North America: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
Table 2. North America: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 3. North America: Medical Marijuana Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
Table 5. US: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million).
Table 6. US: Medical Marijuana Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million).
Table 9. Canada: Medical Marijuana Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million).
Table 12. Mexico: Medical Marijuana Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 13. Europe: Medical Marijuana Market, by Product– Revenue and Forecast to 2028 (US$ Million)
Table 14. Europe: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 15. Europe: Medical Marijuana Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million)
Table 16. Germany: Medical Marijuana Market, by Product– Revenue and Forecast to 2028 (US$ Million)
Table 17. Germany: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 18. Germany: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 19. UK: Medical Marijuana Market, by Product– Revenue and Forecast to 2028 (US$ Million)
Table 20. UK: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 21. UK: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 22. France: Medical Marijuana Market, by Product– Revenue and Forecast to 2028 (US$ Million)
Table 23. France: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 24. France: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 25. Italy: Medical Marijuana Market, by Product– Revenue and Forecast to 2028 (US$ Million)
Table 26. Italy: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 27. Italy: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 28. Spain: Medical Marijuana Market, by Product– Revenue and Forecast to 2028 (US$ Million)
Table 29. Spain: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 30. Spain: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 31. Rest of Europe: Medical Marijuana Market, by Product– Revenue and Forecast to 2028 (US$ Million)
Table 32. Rest of Europe: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 33. Rest of Europe: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 34. Asia Pacific: Medical Marijuana Market, by Product– Revenue and Forecast to 2028 (US$ Million)
Table 35. Asia Pacific: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 36. Asia Pacific: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 37. China: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
Table 38. China: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 39. China: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 40. Japan: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
Table 41. Japan: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 42. Japan: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 43. India: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
Table 44. India: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 45. India: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 46. Australia: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
Table 47. Australia: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 48. Australia: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 49. South Korea: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
Table 50. South Korea: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 51. South Korea: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 52. Rest of Asia Pacific: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
Table 53. Rest of Asia Pacific: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 54. Rest of Asia Pacific: Medical Marijuana Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 55. Middle East & Africa Medical Marijuana Market Revenue and Forecasts to 2028, By Product (US$ Million).
Table 56. Middle East & Africa Medical Marijuana Market Revenue and Forecasts to 2028, By Application (US$ Million)
Table 57. Middle East & Africa Medical Marijuana Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million).
Table 58. UAE Medical Marijuana Market Revenue and Forecasts to 2028, By Product (US$ Million).
Table 59. UAE Medical Marijuana Market Revenue and Forecasts to 2028, By Application (US$ Million) .
Table 60. UAE Medical Marijuana Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million).
Table 61. Saudi Arabia Medical Marijuana Market Revenue and Forecasts to 2028, By Product (US$ Million).
Table 62. Saudi Arabia Medical Marijuana Market Revenue and Forecasts to 2028, By Application (US$ Million) .
Table 63. Saudi Arabia Medical Marijuana Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million).
Table 64. South Africa Medical Marijuana Market Revenue and Forecasts to 2028, By Product (US$ Million).
Table 65. South Africa Medical Marijuana Market Revenue and Forecasts to 2028, By Application (US$ Million) .
Table 66. South Africa Medical Marijuana Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million).
Table 67. Rest of Middle East & Africa Medical Marijuana Market Revenue and Forecasts to 2028, By Product (US$ Million).
Table 68. Rest of Middle East & Africa Medical Marijuana Market Revenue and Forecasts to 2028, By Application (US$ Million) .
Table 69. Rest of Middle East & Africa Medical Marijuana Market Revenue and Forecasts to 2028, By Distribution Channel (US$ Million).
Table 70. South & Central America: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
Table 71. South & Central America: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 72. South & Central America: Medical Marijuana Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 73. Brazil: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
Table 74. Brazil: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million).
Table 75. Brazil: Medical Marijuana Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 76. Argentina: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
Table 77. Argentina: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million).
Table 78. Argentina: Medical Marijuana Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 79. Rest of South & Central America: Medical Marijuana Market, by Product – Revenue and Forecast to 2028 (US$ Million)
Table 80. Rest of South & Central America: Medical Marijuana Market, by Application – Revenue and Forecast to 2028 (US$ Million).
Table 81. Rest of South & Central America: Medical Marijuana Market, Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 82. Organic Developments in the Medical Marijuana Market
Table 83. Inorganic Developments in the Medical Marijuana Market
Table 84. Glossary of Terms for Medical Marijuana Market
LIST OF FIGURES
Figure 1. Global Medical Marijuana Market Segmentation
Figure 2. Medical Marijuana Market, By Region
Figure 3. Medical Marijuana Market Overview
Figure 4. Extract Form Held Largest Share of Product Segment in Medical Marijuana Market
Figure 5. Asia Pacific Region to Show Remarkable Growth During Forecast Period
Figure 6. Global Medical Marijuana Market, By Geography (US$ Million)
Figure 7. Global Medical Marijuana Market- Leading Country Markets (US$ Million)
Figure 8. Global Medical Marijuana Market, Industry Landscape
Figure 9. North America PEST Analysis
Figure 10. Europe PEST Analysis
Figure 11. Asia Pacific PEST Analysis
Figure 12. Middle East & Africa PEST Analysis
Figure 13. South & Central America PEST Analysis
Figure 14. Global Medical Marijuana Market– Revenue Forecast and Analysis – 2020- 2028
Figure 15. Global Medical Marijuana Market– By Geography Forecast and Analysis – 2021 & 2028
Figure 16. Global Medical Marijuana Market – Market Potential Analysis, By Region
Figure 17. Market Positioning of Key Players in Medical Marijuana Market
Figure 18. Medical Marijuana Market – Comparative Company Analysis
Figure 19. Medical Marijuana Market – Growth Strategy Analysis
Figure 20. Medical Marijuana Market Revenue Share, by Product (2021 and 2028)
Figure 21. Dried Form: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Extract Form: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Medical Marijuana Market Revenue Share, by Application (2021 and 2028)
Figure 24. Pain Management: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Tourette’s: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Alzheimer’s Disease: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Migraines: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Depression and Anxiety: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Multiple Sclerosis: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Cancer: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Others: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Medical Marijuana Market, by Distribution Channel (2021 and 2028)
Figure 33. Retail Pharmacy: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. E-commerce: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Others: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 36. North America: Medical Marijuana Market, by Key Country – Revenue (2021) (US$ Million)
Figure 37. Medical Marijuana Market Revenue and Forecast to 2028 (US$ Mn)
Figure 38. North America: Medical Marijuana Market, by Country, 2021 & 2028 (%)
Figure 39. US: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 40. Canada: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 41. Mexico: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 42. Europe: Medical Marijuana Market, by Key Country – Revenue (2022) (US$ Million)
Figure 43. Europe: Medical Marijuana Market Revenue and Forecast to 2028 (US$ Million)
Figure 44. Europe: Medical Marijuana Market, by Country, 2021 & 2028 (%)
Figure 45. Germany: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 46. UK: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 47. France: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 48. Italy: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 49. Spain: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 50. Rest of Europe: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 51. Asia Pacific: Medical Marijuana Market, by Key Country – Revenue (2021) (US$ Million)
Figure 52. Asia Pacific Medical Marijuana Market Revenue and Forecast to 2028 (US$ Million)
Figure 53. Asia Pacific: Medical Marijuana Market, by Country, 2021 & 2028 (%)
Figure 54. China: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 55. Japan: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 56. India: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 57. Australia: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 58. South Korea: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 59. Rest of Asia Pacific: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 60. Middle East & Africa Medical Marijuana Market Revenue Overview, by Country, 2021 (US$ Million)
Figure 61. Middle East & Africa Medical Marijuana Market Revenue and Forecast to 2028 (US$ Million)
Figure 62. Middle East & Africa: Medical Marijuana Market, by Country, 2021 & 2028 (%)
Figure 63. UAE: Medical Marijuana Market Revenue and Forecast to 2028 (US$ Million)
Figure 64. Saudi Arabia: Medical Marijuana Market Revenue and Forecast to 2028 (US$ Million)
Figure 65. South Africa: Medical Marijuana Market Revenue and Forecast to 2028 (US$ Million)
Figure 66. Rest of Middle East & Africa: Medical Marijuana Market Revenue and Forecast to 2028 (US$ Million)
Figure 67. South & Central America: Medical Marijuana Market, by Key Country – Revenue (2021) (US$ Million)
Figure 68. South & Central America Medical Marijuana Market Revenue and Forecast to 2028 (US$ Mn)
Figure 69. South & Central America: Medical Marijuana Market, by Country, 2021 & 2028 (%)
Figure 70. Brazil: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 71. Argentina: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 72. Rest of South & Central America: Medical Marijuana Market – Revenue and Forecast to 2028 (US$ Million)
Figure 73. Impact of COVID-19 Pandemic on North American Country Markets
Figure 74. Impact of COVID-19 Pandemic in European Country Markets
Figure 75. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
Figure 76. Impact of COVID-19 Pandemic in Middle East & Africa Country Markets
Figure 77. Impact of COVID-19 Pandemic in South & Central American Country Markets
Figure 78. Growth Strategies in the Medical Marijuana Market (%)
The List of Companies - Medical Marijuana Market
- Aphria, Inc.
- Canopy Growth Corporation
- CanaQuest Medical Corporation
- GW Pharmaceuticals
- Organigram Holdings Inc.
- VIVO Cannabis Inc
- Panaxia Pharmaceutical Industries Ltd.
- Phoena Holdings Inc.
- Emerald Health Therapeutics Inc.
- MARICANN INC.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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