South Korea Cannabis Pharmaceuticals Market Size & Outlook
South Korea cannabis pharmaceuticals market, 2018-2030 (US$M)
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South Korea cannabis pharmaceuticals market highlights
- The South Korea cannabis pharmaceuticals market generated a revenue of USD 145.7 million in 2023 and is expected to reach USD 3,621.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 58.2% from 2024 to 2030.
- In terms of segment, other brands 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 145.7 million |
| Market revenue in 2030 | USD 3,621.0 million |
| Growth rate | 58.2% (CAGR from 2023 to 2030) |
| Largest segment | Other brands |
| 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, South Korea accounted for 4.3% 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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South Korea 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.
Other brands was the largest segment with a revenue share of 51.48% in 2023. Horizon Databook has segmented the South Korea cannabis pharmaceuticals market based on sativex, epidiolex, other brands covering the revenue growth of each sub-segment from 2018 to 2030.
In November 2018, South Korea legalized medical cannabis to grant access to cannabis products for the increasing patient population in the country. However, the law came into effect in March 2019, when the government allowed the import of a few cannabis drugs Epidiolex, Marinol, Sativex, and Cesamet for patients suffering from conditions such as multiple sclerosis, cancer, epilepsy, and HIV/AIDS.
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Target buyers of South Korea cannabis pharmaceuticals market databook
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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 South Korea cannabis pharmaceuticals market , including forecasts for subscribers. This country databook contains high-level insights into South Korea cannabis pharmaceuticals market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea cannabis pharmaceuticals market size, by brand type, 2018-2030 (US$M)
South Korea Cannabis Pharmaceuticals Market Outlook Share, 2023 & 2030 (US$M)
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