Booming medical cannabis market worth $52.8 billion a

Booming medical cannabis market worth .8 billion a

Wilmington, Delaware, United States, October 24, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Inc.A detailed report of the medical cannabis market by TMR analysts found that the outlook has broadened thanks to favorable legislation and social acceptance of cannabinoids (CBD) for use in medical applications. A series of clinical investigations has helped raise awareness of the efficacy of medical cannabis in the treatment of multiple neurological diseases and pain control. Medical cannabis market it is projected to expand at a CAGR of 27% during the forecast period of 2019 to 2027.

Companies are moving toward marketing CBD products in regions where they have been approved in a bid to increase medical cannabis market share. Of note, CBD products have shown promise in managing mental health conditions such as anxiety and depression.

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Furthermore, the global analysis of the medical cannabis market noted that pharmaceutical companies are intensively exploring and testing the potential of cannabis extracts for patients with weight loss concerns due to HIV/AIDS and epilepsy. To this end, they are closely exploring the pharmacodynamics and pharmacokinetics of CBD in multiple sclerosis and Parkinson’s disease. Efforts to understand cannabinoid contraindications and the relationship between cannabinoids and human physiology are likely to increase the size of the medical cannabis market.

key findings of Medical cannabis market study

  • Legalization of Use of Medical Applications of Cannabis and Extracts To directin grams market expansion: The legalization of the therapeutic application of medicinal cannabis and its extracts is driving profitable demand for the products, according to the study’s authors. This has led to a number of clinical investigations to understand the medical and therapeutic benefits of biologically active compounds, particularly cannabinoids. On the other hand, evolving regulatory frameworks have stimulated R&D in the medical cannabis market related to the cultivation of hemp genetics.
  • Producers and Sellers Benefit from product approvals in key regions: CBD product approvals have benefited producers and sellers. They are geared towards strengthening their supply chain, which will dramatically enrich the value chain of the medical cannabis market.
  • Pharmacist Companies rely on the exploration of new therapeutic applications: The increased availability of over-the-counter medical cannabinoids has also improved prospects. Pharmaceutical companies are greatly increasing their spending on research to understand CBD’s mechanism of action, which will open new frontiers of growth in the medical cannabis market.

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Medical Cannabis Market: Key Drivers

  • The growing body of clinical studies on the psychotropic and physiological effects of CBD and other cannabinoids is driving the prospects for the medical cannabis market.
  • Social acceptance of cannabis and its extracts, coupled with growing awareness of the therapeutic benefits they promise, is a key driver of the medical cannabis market. Advances made in the cultivation of hemp genetics have paved the way for high-quality yield and will widen the avenue for years to come.
  • The burden of joint and muscle pain worldwide is also a key pillar for ongoing R&D in the medical cannabis market.

Medical cannabis market: regional growth dynamics

Europe and North America have been remarkably promising markets. Favorable legalization, continued efforts toward decriminalization, and industry efforts to explore the medicinal use of cannabis are key pillars for the continued evolution of these medical cannabis markets. Of note, the study noted that the North American medical cannabis market is bolstered by a series of regulatory approvals of medical cannabis products. The US FDA approvals of CBD hemp oil are a good example.

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Medical cannabis market: key players

Some of the prominent players in the market include The Cronos Group, Medical Marijuana, Inc., Tilray, GW Pharmaceuticals plc., Cannabis Sativa, Inc., Canopy Growth Corporation, Aurora Cannabis, and United Cannabis.

Medical cannabis market: segmentation


  • Cannabidiol (CBD)
  • Tetrahydrocannabinol (THC)
  • Others


  • mental health management
  • Management of Neurological Disorders
    • Epilepsy
    • Alzheimer disease
    • Parkinson’s disease
    • Others
  • pain management
    • Neuropathic pain
    • cancer pain
    • Others

Administration route

Distribution channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • online pharmacies


  • North America
  • Europe
  • Latin America
  • Rest of the world

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