Cannabis Market Booming at a High CAGR of 34.5% to Estimated $153,689.9 Million Growth by 2027 | Aphria, Aurora Cannabis, Cannabis Science, VIVO Cannabis, Tikun Olam
The Global Cannabis Market is expected to reach US$ 153,689.9 Mn in 2027 from US$ 10,838.1 in 2018. The market is estimated to grow with a CAGR of 34.5% from 2019-2027.
The key factors such as increasing number of countries decriminalizing the use of cannabis and legalizing the cannabis for medical use, increasing awareness of benefits offered by cannabis through conduction of workshops and symposiums and increasing technological development in the field of medical cannabis is expected to account for the growth of the global cannabis market.
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Some of the leading key players profiled in this study:
-Aphria, Inc.
-Aurora Cannabis
-Cannabis Science, Inc.
-Canopy Growth Corporation
-Medical Marijuana, Inc.
-VIVO Cannabis Inc.
-Tikun Olam Ltd
-Terra Tech Corp.
– Tilray
-Cronos Group
In recent years the whole, unprocessed marijuana plant or its basic extracts are used to treat symptoms of illness and other medical conditions. The US FDA has not approved marijuana plant as medicine but certain chemicals from the plant called cannabinoids, are FDA-approved medications which are in the form of pill.
As cannabis helps in treating certain illnesses and symptoms many regions/countries have legalized marijuana for medical use. Currently the two cannabinoids from the marijuana plant that are of medical interest are tetrahydrocannabinol (THC) and cannabidiol (CBD). THC may also decrease pain, inflammation (swelling and redness), and muscle control problems. CBD is used to reduce pain, inflammation, control epileptic seizures, and to treat mental illness and addictions.
The FDA approved a CBD-based liquid medication called Epidiolex for the treatment of two forms of severe childhood epilepsy, Dravet syndrome and Lennox-Gastaut syndrome. A few studies have reported that inhaled (smoked or vaporized) marijuana can be helpful treatment of neuropathic pain (pain caused by damaged nerves). Thus growing medicinal applications of cannabis in diseases like HIV, epilepsy and others is expected to drive cannabis market during the forecast period.
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TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Cannabis Market – By Product Type
1.3.2 Global Cannabis Market – By Application
1.3.3 Global Cannabis Market – By Compound
1.3.4 Global Cannabis Market – By Geography
2. Global Cannabis Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Global Cannabis- Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe PEST Analysis
4.2.3 Asia Pacific – PEST Analysis
4.2.4 Middle East & Africa- PEST Analysis
4.2.5 South & Central America – PEST Analysis
4.3 Expert Opinions
Continue…..
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