Market revenue in 2023 | USD 16,598.0 million |
Market revenue in 2030 | USD 65,851.9 million |
Growth rate | 21.8% (CAGR from 2023 to 2030) |
Largest segment | Oil and tinctures |
Fastest growing segment | Oil and Tinctures |
Historical data covered | 2018 - 2022 |
Base year for estimation | 2023 |
Forecast period covered | 2024 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Flower, Oil and Tinctures |
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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 medical marijuana market will help companies and investors design strategic landscapes.
oil and tinctures was the largest segment with a revenue share of 54.18% in 2023. Horizon Databook has segmented the Global medical marijuana market based on flower, oil and tinctures covering the revenue growth of each sub-segment from 2018 to 2030.
The growing percentage of countries permitting the usage of medical marijuana in various parts of the globe is one of the key factors driving the penetration rate of cannabis in therapeutic applications. With changes in government policies, the demand for medical marijuana is also increasing. Many countries that have legalized the usage of medical marijuana which is leading way for its cultivation that will cut on the imports and will lead to revenue generation in the form of taxes.
Lately, various countries have legalized the medical marijuana usage for treating numerous ailments. Results of number of researches have shown that medical marijuana and its derivatives can be used to treat symptoms of countless diseases, for e.g., it has been successfully used to treat patients with chronic pain, chemotherapy-induced nausea, Parkinson's, Alzheimer's, and other neurological diseases.
The FDA and other such organizations are starting to permit the marijuana derivatives for the prescription of diseases in which it has proven its successful usage. This is one of the key factor for the quick turnaround of its legal status in a lot of countries. North America (the U.S. and Canada) has taken a step further and has legalized the consumption of recreational marijuana as well and more than two-thirds of the U.S. states have legalized marijuana.
Horizon Databook provides a detailed overview of global-level data and insights on the Global medical marijuana market , including forecasts for subscribers. This global databook contains high-level insights into Global medical marijuana market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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