Global Medical Cannabis Market Opportunity Analysis and Industry Forecast, 2021-2030: Opportunities in the Emergence of Cannabis Legalization in Asia Pacific – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Medical Cannabis Market by Product Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030” report has been added to ResearchAndMarkets.com’s offering.

The global medical cannabis market was valued at $6,822.21 million in 2020 and is projected to reach $53,883.46 million by 2030 registering a CAGR of 23.6% from 2021 to 2030.

The key factors that drive growth of the medical cannabis market include legalization of cannabis across various regions and rise in awareness among consumers regarding health benefits of cannabis and its growing medical application such as treatment of wide range of diseases and symptoms.

In addition, novel product development along with increased R&D activities boost growth of the medical cannabis market. However, complex regulatory structure for the usage of cannabis and social stigma related to cannabis use hamper growth of the market. In contrast, cannabis legalization in Asia-Pacific is expected to offer lucrative growth opportunities for players in the medical cannabis market.

Market Dynamics

Drivers

  • Increase in legalization of cannabis across various regions
  • Rise in awareness among consumers regarding health benefits of cannabis and its growing medical application
  • Novel product development with increased R&D activities

Restraints

  • Complex regulatory structure for the usage of cannabis
  • Social stigma related to cannabis use

Opportunities

  • Emergence of cannabis legalization in Asia Pacific

Key Player Profiles

  • Aurora marijuana Inc.
  • Canopy Growth Corporation
  • Cronos Group Inc.
  • Maricann Group, Inc.
  • Medical Marijuana, Inc.
  • OrganiGram Holding Inc.
  • Terra Tech Corp.
  • Tikun Olam Ltd.
  • Tilray, Inc.
  • VIVO Cannabis Inc.

Market Scope

By Product Type

  • Buds/Marijuana Flower
  • Cannabis Extracts
  • Oil
  • Tinctures
  • Others

By Application

  • Chronic Pain
  • Mental Disorders
  • Cancer
  • Others

By End-User

  • Pharmaceutical
  • Research & Development Centers

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • Italy
  • Denmark
  • Poland
  • UK
  • Rest of Europe
  • Asia-Pacific
  • Thailand
  • Australia
  • New Zealand
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • South Africa
  • Rest of LAMEA

For more information about this report visit https://www.researchandmarkets.com/r/am8e9u

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