The global cannabis pharmaceuticals market size was valued at USD 940.5 million in 2020, and is predicted to be worth around USD 130.1 billion by 2030, registering a CAGR of 105.4% during the forecast period 2022 to 2030.
Rapid growth in applications of cannabis for various indications including pain, inflammation, sleep disorders, anorexia, epilepsy, schizophrenia, and multiple sclerosis is estimated to drive market growth. There is a shift from cannabis herbal preparations to prescription drugs. Demand for processed, quantified, and packaged cannabis products is significantly increasing. Moreover, consumer, as well as regulatory acceptance of cannabis products, is increasing which in turn is positively impacting market growth.
Regulatory acceptance of cannabis products such as Sativex and Epidiolex are improving patient and physician perspectives on cannabis as these drugs are developed and regulated by the stringent process.
The increasing number of research and development activities and clinical trials for studying the therapeutic benefits of cannabis will drive the market growth during the forecast period.
|Market Size||US$ 130.1 billion by 2030|
|Growth Rate||CAGR of 105.4% From 2022 to 2030|
|Forecast Period||2022 to 2030|
|Segments Covered||Brand Type|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||GW Pharmaceuticals, plc, Insys Therapeutics, Abbvie, Valeant Pharmaceuticals (Bausch Health Companies, Inc.)|
By Brand Type Analysis
The Epidiolex segment dominated the market for cannabis pharmaceuticals accounted for the largest revenue share in 2021 and is estimated to be the fastest-growing segment during the forecast period.
The Sativex segment is estimated to witness a CAGR of 26.9% during the forecast period. Sativex is used to treat muscle spasticity due to multiple sclerosis. Increasing demand for Sativex for use in muscle spasticity in Canada, and European countries are driving the segment growth.
By Regional Analysis
Europe dominated the market for cannabis pharmaceuticals and accounted for the highest revenue share of 43.8% in 2021. This is attributed to increasing cannabis consumption, as well as rising awareness and positive attitude towards cannabis and its products.
Cannabis cultivation in the African region is rapidly growing. Several countries such as Lesotho, South Africa, Malawi, Zambia, Rwanda, and Ghana among others have legalized medical cannabis cultivation. This in turn is estimated to drive the market in the region.
GW Pharmaceuticals, plc
Valeant Pharmaceuticals (Bausch Health Companies, Inc.)
By Brand Type
Middle East & Africa
The cannabis pharmaceuticals market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of cannabis pharmaceuticals market for the base year 2021 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global cannabis pharmaceuticals market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the cannabis pharmaceuticals market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted cannabis pharmaceuticals market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the cannabis pharmaceuticals capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of cannabis pharmaceuticals by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global cannabis pharmaceuticals market. These figures have been provided in terms of both revenue and volume for the period 2019 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major cannabis pharmaceuticals market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of cannabis pharmaceuticals market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the cannabis pharmaceuticals industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
cannabis pharmaceuticals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to cannabis pharmaceuticals market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of cannabis pharmaceuticals market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new cannabis pharmaceuticals market. These factors have benefited the growth of the global market for cannabis pharmaceuticals. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for cannabis pharmaceuticals. The global market is segmented on the basis of region, application, end-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of cannabis pharmaceuticals are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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