Medical Marijuana Market to Experience Blatant Growth at 35.4% of CAGR during the Forecast Period 2019-2023

According to Market Research Future, the Global Medical Marijuana Market to provide readers with a clear view of the market’s likely growth trajectory over the coming years. The report utilizes historical trends of the Global Medical Marijuana Market and present statistics to derive.

Pune, India - February 12, 2019 /MarketersMedia/ —

Medical Marijuana Market - Synopsis

Global Medical Marijuana Market is forecasted to expand remarkably at a CAGR of over 35.4% during the forecast period of 2018-2023. Medical marijuana or medical cannabis is the unprocessed marijuana plant or its extracts that are used to treat the symptoms of various diseases and other medical conditions.

Marijuana consists of chemical components cannabinoids,  which can be used as medicine to treat the symptoms caused by illness. Medical marijuana plant or extract of the plant is used for the treatment. The increasing number of chronic diseases, rising acceptance of medical marijuana in healthcare and increasing research and development activities are the major factors driving the growth of the global medical marijuana market. Additionally, increasing U.S. Food and Drug Administration (FDA) approvals for drugs containing cannabinoids are contributing to the growth of the market. For instance, in June 2018, U.S. Food and Drug Administration (FDA) has approved Epidiolex (cannabidiol) [CBD] oral solution for the treatment of epilepsy.

Request Sample Copy at https://www.marketresearchfuture.com/sample_request/6470

The stringent regulatory environment for product approval, increasing use of marijuana for recreational use and side effects caused by long-term use of marijuana are likely to hinder market growth during the forecast period.

Top Players:

The key players profiled by MRFR that are operating in the global medical marijuana market are Canopy Growth, Aurora Cannabis, Inc., Cannabis Sativa, Inc, GW Pharmaceuticals plc, United Cannabis, MGC Pharma, Aphria, Inc., Tilray, Emerald Health Therapeutics [Canada] Inc., GBSciences, Inc., CanniMed Ltd., Medical Marijuana, Inc, Cara Therapeutics, and Greengro Technologies.

Segmentation:

The global medical marijuana market has been segmented on the basis of application, route of administration and distribution channel.

On the basis of application, the market has been classified as Alzheimer’s disease, cancer, mental health conditions, multiple sclerosis, muscle spasms, glaucoma, and human immunodeficiency virus, acquired immunodeficiency syndrome (HIV/AIDS). Mental health conditions are differentiated into schizophrenia and posttraumatic stress disorder (PTSD).

The route of administration segment has been further divided into oral, topical, inhalation and sublingual. The topical segment has been classified into ointments, lotions, creams, gels, and poultice.

The market, by distribution channel, has been segmented into dispensaries and online platforms.

Industry Updates:

In January 2019, it has been announced by the Arkansans Department of Health that the patients who are approved for purchasing medical; marijuana will receive patient cards by February 2019.

In January 2019, it has been announced that within next few days residents in Ohio will be able to purchase marijuana for medical purposes.

In January 2019, Trulieve, Florida's largest and first medical marijuana provider, has signed a deal to bring high-end edible marijuana products to Florida and will soon be made available for the registered medical marijuana patients in the form of cannabis chocolates, granola bars, honey, fruit leather, olive oil and more.

Medical Marijuana Market - Regional Analysis:

The market in the Americas is expected to dominate the global medical marijuana market during the forecast period owing to the increasing prevalence of chronic diseases, increasing number of cannabinoid drug approvals by regulatory authorities, and increasing expenditure on research and development of medical marijuana. The European market is expected to be the second-largest due to the favorable policies implemented by government and regulatory authorities and increasing applications of marijuana in healthcare. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to the increasing number of mental disorders and increasing expenditure on healthcare research and development. The market in the Middle East & Africa is likely to account for the smallest share of the global medical marijuana market. The market growth in this region can be attributed to the rising acceptance of medical marijuana in the treatment of illness and favorable government policies.

Browse Complete 85 Pages Premium Research Report Enabled with Respective 30+ Tables and Figures at https://www.marketresearchfuture.com/reports/medical-marijuana-market-6470

Some Points From TOC of Medical Marijuana Market Research Report – Forecast to 2023:

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope Of The Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

TOC CONTINUED…!

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact Info:
Name: Market Research Future
Email: Send Email
Organization: Market Research Future
Address: Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune – 411028 Maharashtra, India
Phone: 6468459312
Website: https://www.marketresearchfuture.com/reports/medical-marijuana-market-6470

Source URL: https://marketersmedia.com/medical-marijuana-market-to-experience-blatant-growth-at-354-of-cagr-during-the-forecast-period-2019-2023/481621

Source: MarketersMedia

Release ID: 481621

More News From tech.aseancoverage.com

China threatens retaliation if US tariff hikes go ahead

Aug 17, 2019

BEIJING — China on Thursday threatened retaliation if Washington steps up their war over trade and technology by going ahead with planned Sept. 1 tariff hikes on additional Chinese imports. Beijing will take unspecified "necessary countermeasures," the Cabinet said in a one-sentence statement. It gave no details or any indication plans for trade talks in Washington in September might be affected. The mounting tension has unnerved financial markets that worry the global economy will tip into recession. President Donald Trump says he plans to impose 10% duties on an additional $300 billion of Chinese imports, extending penalties to almost everything...

China's Xi gets tougher on Trump after new tariff threat

Aug 17, 2019

BEIJING — Facing another U.S. tariff hike, Chinese President Xi Jinping is getting tougher with Washington instead of backing down. Beijing fired what economists called a "warning shot" at Washington by letting its yuan currency weaken in response to President Donald Trump's latest threat of more punitive import duties on Sept. 1. Chinese buyers canceled multibillion-dollar purchases of U.S. soybeans. Regulators are threatening to place American companies on an "unreliable entities" list that might face curbs on their operations. Both sides have incentives to settle a trade war that is battering exporters on either side of the Pacific and threatening...

Fukushima nuclear plant out of space for radioactive water

Aug 17, 2019

TOKYO — The utility company operating Fukushima's tsunami-devastated nuclear power plant said Friday it will run out of space to store massive amounts of contaminated water in three years, adding pressure on the government and the public to reach a consensus on what to do with it. Three reactors at the Fukushima Dai-ichi plant suffered meltdowns in a massive 2011 earthquake and tsunami that devastated northeastern Japan. Radioactive water has leaked from the damaged reactors and mixed with groundwater and rainwater at the plant. The water is treated but remains slightly radioactive and is stored in large tanks. The plant...

Japan OKs removing South Korea from preferred trade status

Aug 17, 2019

TOKYO — Japan has approved the removal of South Korea from a "whitelist" of countries with preferential trade status, escalating tensions between the neighbors. Friday's Cabinet decision expanding controls over exports of sensitive materials takes effect on Aug. 28. It follows an earlier requirement that Japanese companies' exports to South Korea be approved on a case-by-case basis for three materials used in semiconductors, smartphones and other high-tech devices. The decision will fuel antagonism between the two neighbors already at a boiling point over the export controls and the issue of compensation for wartime Korean laborers. It will ripple across the...

US says new round of talks with China were 'constructive'

Aug 17, 2019

SHANGHAI — U.S. and Chinese envoys held "constructive" trade talks on Wednesday, the White House said, after President Donald Trump rattled financial markets by accusing Beijing of trying to stall in hopes he will fail to win reelection in 2020. The meeting, aimed at ending a tariff war over trade and technology, ended about 40 minutes ahead of schedule. Neither delegation spoke to reporters before U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin left for the airport. But White House spokeswoman Stephanie Grisham said in a statement hours later that "the meetings were constructive," and that talks are...

AseanCoverage is a next-gen news site focusing exclusively on online news from South East Asia.

Contact us: sales[at]aseancoverage.com