Medical Cannabis Market Size, Share, Growth Analysis, By Formulation Type(Flowers, Oils & Tinctures, Capsules, and Others), By Application(Cancer, Chronic Pain, Depression & Anxiety, Arthritis), By End-User(Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35I2169 | Region: Global | Published Date: August, 2024
Pages: 219 |Tables: 63 |Figures: 76

Medical Cannabis Market Insights

Global Medical Cannabis Market size was valued at USD 14.50 billion in 2022 and is poised to grow from USD 17.76 billion in 2023 to USD 90.07 billion by 2031, growing at a CAGR of 22.50% in the forecast period (2024-2031).

To receive these medicines, patients must have a prescription from a licensed physician or be enrolled in an approved medical trial. However, patients must pay for their medication in full, as medical cannabis is not covered by the Pharmaceutical Benefits Scheme (PBS). Considering the considerable history pertaining to cannabis, there exists today very little official evidence to aid doctors in using it for medical purposes. However, some studies indicate that distinct therapies based on cannabis can alleviate the conditions caused by multiple sclerosis, epilepsy, cancer (such as pain, nausea, anorexia), chronic non cancer pain and some symptoms of palliative care. The Government of the Commonwealth has issued papers on the latest research regarding its benefits for a range of diseases. 

Advances in scientific research, shifting societal attitudes, and growing support from medical professionals are all fueling the rapid increase in medical cannabis acceptance. Research provides a solid foundation for the therapeutic use of cannabis by demonstrating their medical benefits in the treatment of multiple sclerosis, anxiety, epilepsy, and chronic pain. This growing body of evidence is influencing public opinion, reducing the stigma associated with cannabis, and promoting broader social acceptance of its therapeutic use. At the same time, as medical cannabis has been shown to improve patient outcomes, more and more doctors are recommending it. 

US Medical Cannabis Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 14.50 billion

Largest Segment

Flower

Fastest Growth

Flower

Growth Rate

22.50% CAGR

Global Medical Cannabis Market ($ Bn)
Country Share for North america Region (%)

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Medical Cannabis Market Segmental Analysis

Global Medical Cannabis Market is segmented by Formulation Type, Application, End User and region. Based on Formulation Type, the market can be segmented into Flowers, Oils & Tinctures, Capsules, and Others. Based on Application, the market is segmented into Cancer, Chronic Pain, Depression & Anxiety, Arthritis, Diabetes, Migraines, Epilepsy, Multiple Sclerosis, and Others. Based on End Use, the market is segmented into Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis by Product Type 

As per categorization by product type, the market is classified as flowers, concentrates, and others. Among these, flowers earned the largest share and continues to hold the dominant global medical cannabis market share. With regard to the global medical cannabis market, there is a wide range of product forms available, flowers are one of the most widely accepted form of medicinal cannabis, due to the different ways of administration that it provides such as welding, boiling, or even infusion into edibles or oils. New product development focuses on the high growth strains which are of specific flowers bred for the use in conditions such as chronic pain, anxiety and aggression, epilepsy. Its wide acceptance can be attributed to the fact that it is more affordable than its processed variations for the consumers, its quick availability of effects to the consumers and the consumer's previous experience with it and hence it comes out as the preferred type of medical cannabis for the majority of the medical cannabis consumers. 

Concentrates are projected to be the fastest-growing product type in the global medical cannabis market due to their potency, versatility, and precision. Products such as oils, waxes, tinctures, and such like contain a higher concentration of Cannabinoids so that they are effective in the management of chronic pain conditions and epilepsy with lower doses. New technologies for extraction guarantee both quality and uniformity, which satisfies patients looking for potent well controlled medicines. Besides, concentrates enhance other ways of administration such as vaping or sublingual, which fits changing needs of the patients. Concentrates are also gaining acceptance due to people’s understanding of their efficacy and ease of use, making them a major growth factor in the global medical cannabis market. 

Analysis by Application 

Pain management dominates the global medical cannabis market due to the widespread prevalence of chronic pain conditions and the growing demand for alternative therapies. Medical cannabis is a solution that has emerged naturally, with the help of cannabis derived compounds like THC and CBD that significantly aid in alleviating pain and inflammation as they interact with the endo-cannabinoid system. Developments in this area are shifting towards custom medications for instance accurately adjusted ratios of cannabinoids and other forms of administration like transdermal patches, ingested forms and under the tongue sprays to optimize the treatment and the patients’ experience. Due to the increasing fears of opioid addiction, cannabis for medical purposes is gaining ground especially for pain control reinforcing its dominance in this domain by offering a non-therapeutic addictive drug. 

Mental health management is poised to be the fastest-growing segment in the global medical cannabis market due to increasing recognition of its potential in treating anxiety, depression, PTSD, and insomnia. Cannabinoids are a class of molecules that can help reduce anxiety and depression; thus, they present a natural solution that is less or not at all invasive than psychotropics. There are improvements in strain development and accuracy of dosing through the use of oils, capsules and edibles among others that yield better results. Improved awareness about mental health issues and the stigma around the use of cannabis also contribute to the adoption of the treatment. Due to patients’ needs for non-dependency forming treatment methods, which are safe, medical cannabis is oh so revolutionizing the psychiatric field, giving rise to immense expansion. 

ects of the drug on a number of health issues.

Global Medical Cannabis Market By Type

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Medical Cannabis Market Regional Insights

North America dominates the global medical cannabis market due to progressive legalization, robust healthcare infrastructure, and a well-established cannabis industry in countries like the U.S. and Canada. It is evident that the presence of enabling regulations such as medical cannabis legalization and decriminalization has positively influenced the market. There is a high public awareness, sophisticated cultivation techniques, and more resources deployed in the region towards R&D for the cause of their leadership. Also, there is a high occurrence of chronic diseases, mental health issues and the need for pain management that has created a demand. North America is also at the center of the evolution of the global medical cannabis industry, assisted by the market ecosystems that inform its developments. 

Europe is the fastest-growing region in the global medical cannabis market due to progressive legalization and increasing acceptance of cannabis-based therapies. As nations such as Germany, the U.K., and Italy, for instance, slow down to learn how to reform patient-centric regulatory frameworks or implement government-sponsored health care reimbursement measures, the adoption of medical cannabis is propelled by the persistent aversion towards some medical conditions, pain in particular, wherein it is promoted as a remedy, chronic irritations such as pain, management of epilepsy and mental health issues. Furthermore, the construction of growing and processing plants and the emphasis on GMP-grade products contribute to growth. The region's focus on the research and clinical application of medical cannabis in the health care system, makes the medical cannabis market in European region vibrant and poised for growth. 

Global Medical Cannabis Market By Region
  • Largest
  • Fastest

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Medical Cannabis Market Dynamics

Medical Cannabis Market Drivers

Regulatory Advancements in Regions 

  • The growth of the global medical cannabis market is largely on account of the regulatory changes, with several more countries allowing the use of medical cannabis for treatment purposes. However, more welcoming policies such as allowing the introduction of cannabis products into the market, providing standard procedures for growing and distributing them, establishes ready market conditions that enhance increased patient access and product development. 

Rising Chronic Disease Prevalence 

  • Demand for medical cannabis is also increasing due to the rising number of chronic disorders such as pain, oncological conditions, and even mental problems. Whereas conventional therapies can be ineffective or may have adverse effects, more patients and health practitioners believe in the usefulness of cannabis. 

Medical Cannabis Market Restraints 

Limited Clinical Evidence 

  • Across the world, one of the significant difficulties experienced in the use of medical cannabis is the absence of sufficient but convincing clinical evidence regarding its efficacy for several medical conditions. Even if personal testimonies claim that there are advantages, solid research that entails many patients must be done before a doctor endorses such treatments. The absence of such scientific evaluations leads to limited confidence by patients and further inhibits the use of medical cannabis in most health care systems. 

Stigma and Public Perception 

  • Cannabis usage, especially in the regions where the use of cannabis is viewed culturally or historically in bad light, continues to have a stigma, which inhibits the expansion of the market. Such perceptions frustrate patients seeking wider acceptance of these services and impact policy formulation, limiting the global medical cannabis market growth from achieving its anticipated elevation in view of growing evidence supporting its medicinal uses. 

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Medical Cannabis Market Competitive Landscape

The global medical cannabis market is fierce and has a lot of innovations as well as players who are taking more market share. Major firms include Aurora Cannabis, Canopy Growth, Tilray, and Cronos Group, which have a cultivation, product development, and distribution of medical goods related to cannabis. These firms are committing resources to undertake clinical studies, expand globally, and enter strategic alliances. Also, this is a fast-changing market and apart from the key players, the competition is becoming more intense with the entry of new players and expansion of regional players. 

Medical Cannabis Market Top Player’s Company Profiles

  • Lexaria Bioscience Corp.
  • Canopy Growth Corporation
  • Aurora Cannabis Inc.
  • Acreage Holdings, Inc.
  • Cara Therapeutics, Inc.
  • Jazz Pharmaceuticals plc
  • LivWell Enlightened Health LLC
  • Tilray Brands, Inc.
  • Medical Marijuana, Inc.
  • Arcadia Biosciences, Inc.
  • Tikun Olam Ltd.
  • DocMJ
  • Babylon Sciences SA
  • ADREXpharma GmbH
  • Demecan GmbH
  • Bedrocan International BV
  • Dutch Harvest BV
  • Sensi Seeds BV
  • PharmaCielo Ltd.
  • KannaCare Health GmbH

Medical Cannabis Market Recent Developments

  • In August 2024, Canopy Growth introduced a new prescription medication containing cannabis to treat chronic pains in America. This product is backed up by advanced clinical trials, and its aim is to provide relief from pain with proper dosage. The organization is conducting more clinical studies and expanding due to the increasing request for medical cannabis. 
  • In September 2024, Tilray signed a strategic partnership with a European pharmaceutical company to distribute medical cannabis products across the EU. The collaboration will focus on providing patients with access to high-quality cannabis therapies, including oral solutions and topicals. This partnership strengthens Tilray’s presence in the rapidly expanding European market. 
  • In October 2024, Aurora Cannabis has revealed the introduction of a new range of medical cannabis products in Germany. This move hopes to meet the increasing need for medical cannabis in Europe, which is mostly centered on Germany, and provide high quality cannabis for the European medical market. Aurora also intends to improve its growing capacity in order to cater for the rising supply of products. 

Medical Cannabis Key Market Trends

  • Increasing Adoption of Cannabis for Mental Health Treatment: One key trend in the global medical cannabis market is the growing use of cannabis for mental health treatment. Cannabis for medical purposes is gaining popularity as a better option to patients seeking other therapeutic interventions as the benefits in minimizing anxiety, depression and post-traumatic stress disorders are coming to light. 
  • Expansion of Cannabis Legalization in Emerging Markets: A major trend in the global medical cannabis market is the expansion of legalization in emerging markets. The nations of Latin America, Africa, and Asia are embracing medical cannabis policies more and more which presents new growth opportunities. Such changes are leading to increasing investments in cultivation and distribution infrastructure. 

Medical Cannabis Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. 

As per SkyQuest analysis, in conclusion, the global medical cannabis industry is poised for continued growth, driven by increasing research, regulatory advancements, and expanding therapeutic applications. While the demand for pain management and mental health treatments continues to rise, regions like North America and Europe are leading the charge, due to favorable legal frameworks and healthcare systems. 

Despite challenges, such as limited clinical evidence and stigma, the market’s potential remains strong, with new product innovations and strategic partnerships. Enhancements are made in terms of accessibility and effectiveness of medical cannabis, ensuring its integration into mainstream healthcare systems globally. 

Report Metric Details
Market size value in 2022 USD 14.50 billion
Market size value in 2031 USD 90.07 billion
Growth Rate 22.50%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Formulation Type
    • Flowers, Oils & Tinctures, Capsules, and Others
  • Application
    • Cancer, Chronic Pain, Depression & Anxiety, Arthritis, Diabetes, Migraines, Epilepsy, Multiple Sclerosis, and Others
  • End-User
    • Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Lexaria Bioscience Corp.
  • Canopy Growth Corporation
  • Aurora Cannabis Inc.
  • Acreage Holdings, Inc.
  • Cara Therapeutics, Inc.
  • Jazz Pharmaceuticals plc
  • LivWell Enlightened Health LLC
  • Tilray Brands, Inc.
  • Medical Marijuana, Inc.
  • Arcadia Biosciences, Inc.
  • Tikun Olam Ltd.
  • DocMJ
  • Babylon Sciences SA
  • ADREXpharma GmbH
  • Demecan GmbH
  • Bedrocan International BV
  • Dutch Harvest BV
  • Sensi Seeds BV
  • PharmaCielo Ltd.
  • KannaCare Health GmbH
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Medical Cannabis Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Medical Cannabis Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Medical Cannabis Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Cannabis Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Cannabis Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Medical Cannabis Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Medical Cannabis Market size was valued at USD 14.50 billion in 2022 and is poised to grow from USD 17.76 billion in 2023 to USD 90.07 billion by 2031, growing at a CAGR of 22.50% in the forecast period (2024-2031).

The global medical cannabis market is fierce and has a lot of innovations as well as players who are taking more market share. Major firms include Aurora Cannabis, Canopy Growth, Tilray, and Cronos Group, which have a cultivation, product development, and distribution of medical goods related to cannabis. These firms are committing resources to undertake clinical studies, expand globally, and enter strategic alliances. Also, this is a fast-changing market and apart from the key players, the competition is becoming more intense with the entry of new players and expansion of regional players.  'Lexaria Bioscience Corp.', 'Canopy Growth Corporation', 'Aurora Cannabis Inc.', 'Acreage Holdings, Inc.', 'Cara Therapeutics, Inc.', 'Jazz Pharmaceuticals plc', 'LivWell Enlightened Health LLC', 'Tilray Brands, Inc.', 'Medical Marijuana, Inc.', 'Arcadia Biosciences, Inc.', 'Tikun Olam Ltd.', 'DocMJ', 'Babylon Sciences SA', 'ADREXpharma GmbH', 'Demecan GmbH', 'Bedrocan International BV', 'Dutch Harvest BV', 'Sensi Seeds BV', 'PharmaCielo Ltd.', 'KannaCare Health GmbH'

The growth of the global medical cannabis market is largely on account of the regulatory changes, with several more countries allowing the use of medical cannabis for treatment purposes. However, more welcoming policies such as allowing the introduction of cannabis products into the market, providing standard procedures for growing and distributing them, establishes ready market conditions that enhance increased patient access and product development. 

Increasing Adoption of Cannabis for Mental Health Treatment: One key trend in the global medical cannabis market is the growing use of cannabis for mental health treatment. Cannabis for medical purposes is gaining popularity as a better option to patients seeking other therapeutic interventions as the benefits in minimizing anxiety, depression and post-traumatic stress disorders are coming to light. 

North America dominates the global medical cannabis market due to progressive legalization, robust healthcare infrastructure, and a well-established cannabis industry in countries like the U.S. and Canada. It is evident that the presence of enabling regulations such as medical cannabis legalization and decriminalization has positively influenced the market. There is a high public awareness, sophisticated cultivation techniques, and more resources deployed in the region towards R&D for the cause of their leadership. Also, there is a high occurrence of chronic diseases, mental health issues and the need for pain management that has created a demand. North America is also at the center of the evolution of the global medical cannabis industry, assisted by the market ecosystems that inform its developments. 

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Medical Cannabis Market

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