Medical Marijuana Market to Grow with Increasing Government Approvals at a Acosutic Double-Digit CAGR of 34% till Forecast to 2023


Market Overview:


The global Medical Marijuana Market can find a robust movement ahead with an impressive 34% CAGR in the coming years using which it can surpass USD 54,677.1 Mn by 2023.
Marijuana is a plant can also be described as cannabis has several medical properties that, if properly extracted, can benefit patients in treating various diseases and influence the market for pharmaceuticals. This comes handy in treating diseases as a therapeutic process. The extract can be used in treating diseases like cancer, central nervous system, and Alzheimer’s. It has notable use as an anti-aging compound. Market Research Future (MRFR) makes a claim in the report that this growth would be substantially easier as several companies are making notable progress in the market.
Factors like the growing use of it as therapeutic medicine, the increasing presence of chronic diseases, growing researches in the sector, hike in investment, and others are expected to push the global medical marijuana market forward. However, several countries have still preventive measures to cull the production of marijuana, which can deter the market growth in the coming years.

Access Complete Report Details and Full TOC Exclusively @ https://www.marketresearchfuture.com/reports/medical-marijuana-market-6470

Competitive Landscape:

·         Cannabis Sativa Inc
·         Canopy Growth Corporation
·         Emerald Health Therapeutics Inc
·         GW Pharmaceuticals Plc
·         Aphria
·         Tilray
·         Cara Therapeutics
·         GBSciences Inc
·         CanniMed Ltd
·         Medical Marijuana Inc

Segmentation:
·         The global market study for Medical Marijuana Market has a detailed take on various segments to get a holistic picture of the market. This process of segmentation adds a closer view of the market that provides details regarding various factors. Such a study comes up with insights that can inspire market growth in the coming years. These segments are product type, application, and distribution channel.
·         By product type, the market for medical marijuana includes oil, dissolvable/powders, solids, and ointments & creams. The dissolvable/powders segment had better market coverage and with a strong CAGR it can surpass the predicted valuation for CAGR to reach USD 22,648.8 million by 2023. Its use also depends on its affordability and convenience.
·         Application-wise, the market for medical marijuana penetrates several segments like cancer, Alzheimer’s disease, schizophrenia, and multiple sclerosis.
·         By distribution channel, the study of the market can be segmented into retail & pharmacy stores, online platforms, and others.

Regional Analysis:
North America and Europe are majorly maintaining the charge of the market for medical marijuana. In North America, countries like Canada and the US are legalizing it to make sure that their pharmaceutical businesses thrive. The region is robustly investing in research and development to make sure that the pharmaceutical companies can market the most out of it. On the other hand, the APAC market is expected to profit much from the presence of a high population. Treatments required to make an impact on the market is expected to promote better cultivation of medical marijuana. Several countries are also providing a license to grow the substance and then commercially sell it to industries and pharmaceuticals. The market in Latin America and the Middle East & Africa are expected to gain moderate growth in the coming years.

Industry News:

In September 2019, an Indian state Manipur has announced that they might soon legalize the production of medical marijuana in the coming years. The region provides a natural climate to marijuana and supports its production. The government is aiming for the medical purpose and industrial production of medical marijuana to inspire research projects.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com

Comments

Post a Comment

Popular posts from this blog

Proteomics Market Analysis, Demand Overview, Growth Analysis, Current Trends, Updates, and Global Industry Forecast to 2023

Market Highlights: The global proteomics market is anticipated to hold a market value of USD 23.2 billion in the year 2017 and is expected to grow at a CAGR of 14.1% during the forecast period. Proteomics is a science which is used to estimate the rate of protein production, interaction of proteins with one another, involvement of proteins in metabolic pathways, and modification of proteins. Also, it has extensive applications in drug discovery, development of personalized medicines, and identification of markers for disease diagnosis. Increasing need for personalized medicine, R&D expenditure, technological advancements and increased funding for proteomics project are expected to drive the market growth over the forecast period. For instance, in July 2017, Biognosys AG received USD 5 million funding from its new as well as existing investors. These new funds will be used for extending commercial operations and also to accelerate the development of next generation prote...
Read more

Pancreatic Cancer Market: America to Command the Largest Share

Market Overview: Pancreatic cancer can be defined as an enlarged tumor, which is generally caused by malignant cells present in the tissues of the pancreas. This type of cancer is generally caused due to drinking alcohol, smoking, genetic factors, radiotherapy in the past, obesity, inflammation of the pancreas, and diabetes mellitus. It is a type of cancer that starts in the pancreas and is a highly lethal disease. The global Pancreatic Cancer Market , as per a report by Market Research Future (MRFR) is touted to register 8.1% CAGR during the forecast period ( 2017-2023 ). The dearth of therapeutic approaches for early-stage detection has resulted in increased incidences of pancreatic cancer. Soaring prevalence of pancreatic cancer has resulted in germline mutations, thereby causing the defective genes to pass down to the children from their parents, thus making early detection of pancreatic cancer important. This has led to the growth of the market across the globe. Surging dem...
Read more

Immune Thrombocytopenia (ITP) Market is Estimated to Record Promising CAGR of 5.78% During Forecast 2018-2023

Market Highlights: As per the latest report published by Market Research Future (MRFR), the Global Immune Thrombocytopenia (ITP) is set to surpass a valuation of USD 2,300 Mn by the year 2023, reflecting a healthy CAGR. ITP is a blood related disorder that cause abnormal clotting. Some of the discomforts caused by the disease include bruising, bleeding and severe drop in platelets counts. Both minors and adults can develop the condition. The disease is classified into primary and secondary form. Primary form of ITP occurs on its own while the latter is an offshoot of another condition. The condition can be triggered by reactive medications, autoimmune disease, pregnancy and certain type of cancers. ITP is among the most commonly occurring disorder across the globe. In addition, the incidence rate has continued to spiral upwards in recent years. Factors as such as are fueling the demand for drugs and therapeutics for ITP. Currently, there are four treatment options available for ...
Read more