Medical Marijuana Market Size, Share, Trends and Analysis

Medical Marijuana Market

Market Overview:

The main factors for medical marijuana market growth include the increasing number of countries legalizing medical marijuana use, trend in the production of edible cannabis products, and favorable reimbursement environment and government support in selected countries, which are expected to experience a boost over the forecast period.

The legal use of cannabis for medical and recreational purposes is steadily increasing each year, but it varies across countries based on possession, distribution, cultivation, and medical indications for consumption. Thus, the change is expected to be slow over the forecast period, but more legal cannabis consumption is expected in the developed market, which is expected to drive the market studied to a large extent.

Currently, marijuana is also increasingly being used as a functional food, with alleged health advantages far outweighing what customers can get from kale, turmeric, or kombucha. With the new generation growing in the U.S., where cannabis is legal, new products are rapidly entering the market, expected to grow rapidly over the forecast period. Market growth is also attributed to factors such as trends in selected countries producing edible products with cannabis. Consequently, it is expected that marijuana will be included in the 2018 food trends as the drug and its ingredients have gradually entered the public market.

Get a Free Sample Copy of this Report @ https://www.planetmarketreports.com/report-sample/medical-marijuana-market

Medical marijuana is also prescribed by doctors to treat muscle spasms triggered by multiple sclerosis, nausea, bad appetite, and weight loss induced by chronic disease such as HIV, nerve pain, and Crohns. Thus, there is also an enormous opportunity for marijuana for medicinal purposes with increasing applications.

Reports Scope:

Medical marijuana refers to the entire, unprocessed marijuana plant, or its basic extracts, for the treatment of several diseases and other related symptoms according to the scope of the report. Scientific studies show that chemical cannabinoids can help treat a range of diseases and symptoms that over the past two decades have attracted several biopharmaceutical companies worldwide. Because of legalization in several countries and high demand for both medical and recreational purposes, the market is expected to see significant growth.

Key Market Trends:

Chronic Pain is the Segment under Application that is Expected to Experience the Fastest Growth during the Forecast Period:

Many studies have shown that medical cannabis is found to be an efficient technique for chronic pain therapy, and that it is much safer than many other alternatives. It is an inexpensive, natural option that lacks side effects and is used to treat chronic pain traditionally. There are also several continuing medical marijuana research on chronic pain therapy, which is anticipated to have a direct effect on market growth.

Marijuana is also used to treat arthritis because it can decrease inflammation and decrease pain. There is also growing research on medical marijuana for cancer treatment and commercially available cannabinoids, which are approved chemotherapy drugs and are probable to increase market growth. Marijuana is anticipated to increase further over the forecast timeframe as an efficient therapy for neuropathic pain.

North America Accounted for the Largest Share in the Global Market:

North America holds a major share in the market for medical marijuana and is expected to show a similar trend over the forecast period, without significant fluctuations. In the United States, the rising pace of legalization of cannabis is one of the key factors contributing to its increased demand. There are also a lot of accelerated marijuana programs in the U.S., and most countries have begun to approach medical marijuana from a healthy public health view.

Get More Information about this Report and TOC @ https://www.planetmarketreports.com/reports/medical-marijuana-market

Competitive Landscape:

A few main players dominate the market studied, and presently, cannabis use is legal only in a few nations. As a result, several businesses were unable to launch their products.

About Us: –

Planet Market Reports gives statistical surveying reports to businesses, people and associations with a goal of helping them in their decision-making process. We have a huge database of market research reports & company profiles across the globe.  We offer premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.

Planet Market Reports understand how essential statistical surveying information is for your organization or association. Therefore, we have associated with the top publishers and research firms all specialized in specific domains, & industry experts which provide you deeper penetration of market research industry ensuring you will receive the most reliable and up to date research data available.

Name: Jennifer Daniel
Email-Id: sales@planetmarketreports.com
US: +1-716-2260907
UK: +447441952057
Organization: Planet Market Reports