LONDON–(BUSINESS WIRE)–Technavio has been monitoring the global medical marijuana market since 2018 and the market is poised to grow by USD 22.33 billion during 2020-2024 at a CAGR of over 24% during the forecast period. Request Free Sample Pages
Read the 136-page research report with TOC on “Medical Marijuana Market Analysis Report by Geography (APAC, Europe, MEA, North America, and South America), Application (Chronic pain, Nausea, and Others), and Segment Forecasts, 2020-2024”.
The market is driven by plans to boost the production and availability of medical marijuana by governments. In addition, the increase in funding for research and production of medical marijuana is anticipated to further boost the growth of the medical marijuana market.
The increasing demand for marijuana from dispensaries and patients for medical applications is encouraging marijuana growers and government organizations to improve the access to legal marijuana for medical research. This is encouraging various governments such as the US government to issue plans to legalize the production of marijuana and expand the number of entities that are certified to grow marijuana plants. This will allow users to place orders for medical marijuana products. Thus, the plans to increase production and availability of medical marijuana by governments is expected to drive market growth during the forecast period.
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Major Five Medical Marijuana Market Companies:
Aphria Inc. is headquartered in Canada and operates the business under various business segments such as Cannabis operations, Distribution operations, and Business under development. The company offers medical marijuana under its brand name Broken Coast.
Aurora Cannabis Inc.
Aurora Cannabis Inc. is headquartered in Canada and offers products through the following business units: Cannabis and Horizontally Integrated Business. The company offers products such as soft gel, strips, blends, and oils.
Cannabis Sativa Inc.
Cannabis Sativa Inc. is headquartered in the US and operates under Cannabis products business segment. The company offers medical marijuana products under its brand names including PrestoDoctor and hiDispensaries.
Canopy Growth Corp.
Canopy Growth Corp. is headquartered in Canada and offers products through the following business segments: Cannabis operations and Canopy Rivers. The company offers products such as soft gel capsules, concentrates, and marijuana oils.
Cronos Group Inc.
Cronos Group Inc. is headquartered in Canada and offers products through the following business segments: Cannabis operations and Canopy Rivers. The company offers Performance Testing and Engineering services as its stress testing solution concentrates, marijuana oils, and soft gel capsules.
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Medical Marijuana Application Outlook (Revenue, USD Billion, 2020-2024)
- Chronic pain
Medical Marijuana Regional Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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