Medical Cannabis Market Size, Scope, and Share by 2028
Medical Cannabis Market: Size and Share
-
CAGR (2023 - 2031)28.8% -
Market Size 2023
US$ 16.56 Billion -
Market Size 2031
US$ 97.20 Billion
Market Dynamics
- Rise in approvals of medical cannabis and business expansion of companies are bolstering the medical cannabis market growth worldwide
- Increasing distribution is expected to attract more investments and may lead to market growth during the forecast period.
- Rising urge to control the COVID-19 pandemic is boosting the demand for medical cannabis, thereby providing opportunity for the medical cannabis market players.
Market Segmentation
Product Type - Flowers
- Concentrates
- Tablets
- Cannabis Oil and Topical Ointments
- Capsules
- Beverages and Edibles
Medical Application - Pain Management
- Neurological Health Management
- Mental Health Management
Compound - Tetrahydrocannabinol-Dominant
- Cannabidiol-Dominant
- Balanced THC
- CBD
Medical Cannabis Market Players Density: Understanding Its Impact on Business Dynamics
The Medical Cannabis Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Medical Cannabis Market are:
- Aphria, Inc.
- Aurora Cannabis
- Cannabis Science, Inc
- Canopy Growth Corporation
- Medical Marijuana, Inc.
- VIVO Cannabis Inc
Disclaimer: The companies listed above are not ranked in any particular order.
- Get the Medical Cannabis Market top key players overview
Get Free Sample For