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Global Medical Marijuana Market Share valuation to reach USD 18.08 billion by 2028

Global Medical Marijuana Market Share valuation to reach USD 18.08 billion by 2028

Report findings suggest that global Medical Marijuana Market was valued at USD 4,004.4 million in 2022 and is expected to reach USD 18,089.26 million by 2028, recording a 24.04% CAGR during the forecast period.

‘Global Medical marijuana Market’ report examines crucial elements that drive the industry's growth as well the challenges that may hamper its progress during the assessment timeframe. It also remarks the profitable opportunities that stakeholders can indulge in, and projects their impact on the market from 2022 to 2028. It also provides insight into the economic conditions of key regions and their impact on the overall market value. The report analyzes the industry based on product types & applications and offers an overview of the competitive landscape and the strategies employed by companies to gain competitive advantage.

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COVID-19 impact:

The pandemic has caused a decline in demand for non-essential medical procedures were put on hold and hospitals focused on treating COVID-19 patients, thus hampering the profitability of global medical marijuana industry. Additionally, supply chain disruptions and delays in manufacturing & distribution also affected the marketplace. Overall, the industry is expected to recover as the virus outbreak subsides in the forthcoming years, owing to the successful vaccination campaigns and efforts of leading manufacturers.

Segmentation & Regional Overview:

In terms of type, the market is bifurcated into softgel capsules, oils + concentrates, and dried flower. On the basis of application ambit, worldwide medical marijuana industry is branched into crohn's disease, seizure disorders, chronic illness, nausea, and muscle spasms.

Concerning the regional terrain, the industry spans across Asia-Pacific (India, New Zealand, China, Singapore, Japan, Australia, rest of APAC), Middle East & Africa (Africa, Saudi Arabia, UAE, Iran, Turkey, rest of MEA), North America (Canada, U.S., Mexico), South America (Brazil, Argentina, rest of SA), and Europe (U.K., Germany, Italy, Russia, France, Spain, rest of Europe.)

Competitive dashboard:

In terms of competitive approach, the strengths, weaknesses, sales volume, market share, and trends of the leading competitors in the sector are evaluated. The report provides details about the market's drivers, problems, and opportunities for new entrants using information from both primary and secondary sources.

The major firms in global medical marijuana industry are Horizons Marijuana Life Sciences Index ETF, CanniMed Therapeutics Inc., Sprott Inc., Insys Therapeutics Inc., MedReleaf Corp., Aphria Inc., Aurora Cannabis Inc., GW Pharmaceuticals plc, Canopy Growth Corporation, and Scotts Miracle-Gro Company.

FAQs:

How are the different segments in global medical marijuana market bifurcated by type?

A: Softgel capsules, oils + concentrates, and dried flower are the types assessed in global medical marijuana market report.

Which are the prominent companies influencing global medical marijuana market dynamics?

A:  The major firms in global medical marijuana industry are Horizons Marijuana Life Sciences Index ETF, CanniMed Therapeutics Inc., Sprott Inc., Insys Therapeutics Inc., MedReleaf Corp., Aphria Inc., Aurora Cannabis Inc., GW Pharmaceuticals plc, Canopy Growth Corporation, and Scotts Miracle-Gro Company.

Which are the pivotal regions of the worldwide medical marijuana market?

A:  Asia-Pacific (India, New Zealand, China, Singapore, Japan, Australia, rest of APAC), Middle East & Africa (Africa, Saudi Arabia, UAE, Iran, Turkey, rest of MEA), North America (Canada, U.S., Mexico), South America (Brazil, Argentina, rest of SA), and Europe (U.K., Germany, Italy, Russia, France, Spain, rest of Europe.) are the key regions contributing to global medical marijuana revenue.

Which are the basic applications of global medical marijuana market?

A: Crohn's disease, seizure disorders, chronic illness, nausea, and muscle spasms are among the applications of this industry reviewed in the research.

How is global medical marijuana market likely to perform during 2022-2028?

A: Global medical marijuana market is expected to reach USD 18,089.26 million by 2028, showing a 24.04% CAGR during the forecast period.

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