Medical Marijuana Market to Register Prominent Growth by 2026
Medical Marijuana
Market Outlook by 2019-2026:
Global Medical
Marijuana Market major players are Cara Therapeutics Inc., Canopy
Growth, Insys Therapeutics, CannaGrow Holdings, Inc., Cannabis Sativa, Inc., Arena
Pharmaceuticals, Aphria, and others.
Marijuana refers to the dried leaves, flowers,
stems, and seeds from the hemp plantCannabis sativa. There are 2 main active
chemicals in Marijuanacannabidiol (CBD) and tetrahydocannabinol (THC), which
impact the brain and relieve the pain, respectively. Marijuana provides pain
relief in conditions such as fibromyalgia, grand mal seizures, and other
medical conditions. Similarly, it reduces symptoms of many serious medical
conditions such as AIDS, cancer, and glaucoma.
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The increase in prevalence of diseases and
growth in demand for relieving pain in conditions such as cancer, AIDS,
seizures, and other diseases majorly drive the medical marijuana market. In
2016, countries such as Colombia, Macedonia, Israel, Germany, Australia, and
others allowed the medical use of marijuana.
Thus, rise in number of countries legalizing
the use of medical marijuana is anticipated to fuel the growth of the market
during the forecast period. Furthermore, the stringent rules and regulations
associated with the medical marijuana such as Medical Marijuana Regulation and
Safety Act and increase in number of license issued every year stipulates
demand of Marijuana in market.
Moreover, growth in investment in R&D and
increase in business strategies by companies of marijuana is expected to impel
the market growth. For instance, in 2016, Gibraltar Industries acquired Nexus
Corporation strengthening its position as greenhouse manufacturer and
distributor. However, complex regulatory framework to obtain license majorly
hinders the medical marijuana market.
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The market is segmented on the basis of
medical application and geography. By medical applications, the market is
categorized into chronic pain, migraine, cancer, arthritis, and others. By
geography, it is analyzed across North America, Europe, Asia-Pacific, and
LAMEA.
Key Benefits
- The study provides an in-depth analysis of the global
medical marijuana market, with current trends and future estimations to
elucidate the investment pockets.
- Comprehensive analysis of factors that drive and
restrict the growth of the market is provided.
- The report provides a quantitative analysis to help the
stakeholders to capitalize on prevailing market opportunities.
- Extensive analysis of different segments facilitates to
understand various products of the market.
- Key players are profiled and their strategies are
analyzed thoroughly, which predict the competitive outlook of the market.
Source medium: https://tradersherald.com/2019/09/10/medical-marijuana-market-size-share-trends-and-global-analysis-by-2026/
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