Australia Cannabis Pharmaceuticals Market Size & Outlook
Australia cannabis pharmaceuticals market, 2018-2030 (US$M)
Related Markets
Australia cannabis pharmaceuticals market highlights
- The Australia cannabis pharmaceuticals market generated a revenue of USD 85.7 million in 2023 and is expected to reach USD 2,238.2 million by 2030.
- The Australia market is expected to grow at a CAGR of 59.4% from 2024 to 2030.
- In terms of segment, epidiolex was the largest revenue generating brand type in 2023.
- Other Brands is the most lucrative brand type segment registering the fastest growth during the forecast period.
Cannabis pharmaceuticals market data book summary
| Market revenue in 2023 | USD 85.7 million |
| Market revenue in 2030 | USD 2,238.2 million |
| Growth rate | 59.4% (CAGR from 2023 to 2030) |
| Largest segment | Epidiolex |
| Fastest growing segment | Other Brands |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Sativex, Epidiolex, Other Brands |
| Key market players worldwide | Jazz Pharmaceuticals PLC, AbbVie Inc, Insys Therapeutics, Bausch Health Companies Inc |
Other key industry trends
- In terms of revenue, Australia accounted for 2.5% of the global cannabis pharmaceuticals market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, South Korea cannabis pharmaceuticals market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,590.9 million by 2030.
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Cannabis Pharmaceuticals Market Scope
Cannabis Pharmaceuticals Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia cannabis pharmaceuticals market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cannabis pharmaceuticals market will help companies and investors design strategic landscapes.
Epidiolex was the largest segment with a revenue share of 49.82% in 2023. Horizon Databook has segmented the Australia cannabis pharmaceuticals market based on sativex, epidiolex, other brands covering the revenue growth of each sub-segment from 2018 to 2030.
Since the legalization of medical cannabis in Australia in 2016, the number of patients seeking prescriptions for medical cannabis and its derived products has significantly increased. However, Australia’s cannabis pharmaceuticals market is expected to witness relatively slow growth as compared to North America, due to stringent regulatory guidelines for prescribing medical cannabis (oils & tinctures) as a therapeutic product in Australia.
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Our clientele includes a mix of cannabis pharmaceuticals market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Australia cannabis pharmaceuticals market , including forecasts for subscribers. This country databook contains high-level insights into Australia cannabis pharmaceuticals market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia cannabis pharmaceuticals market size, by brand type, 2018-2030 (US$M)
Australia Cannabis Pharmaceuticals Market Outlook Share, 2023 & 2030 (US$M)
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