Medical Marijuana Market is estimated to surge ahead at a CAGR of 14.0% to reach US$ 96.7 Bn by the end of 2033

Medical Marijuana Market Segmented By Dried Form, Extract Form for Pain management, Seizures in Retail Pharmacy and E-Commerce

NEW YORK CITY, NEW YORK , UNITED STATES, December 28, 2022 /EINPresswire.com/ -- Medical marijuana refers to the use of cannabis and its derivatives to treat medical conditions. In recent years, the use of medical marijuana has gained increasing acceptance as a treatment for a variety of medical conditions, including chronic pain, epilepsy, and multiple sclerosis.

The medical marijuana market has seen significant growth in recent years as more and more states have legalized its use for medical purposes. Worldwide revenue from the medical marijuana market stands at US$ 22.4 Bn in 2022, with the global market estimated to surge ahead at a CAGR of 14.0% to reach a valuation of US$ 96.7 Bn by the end of 2033.

Request For Free Sample Report of “Medical Marijuana Market”@ https://www.persistencemarketresearch.com/samples/13897

Factors driving the growth of the medical marijuana market include increasing recognition of the therapeutic benefits of marijuana, the legalization of medical marijuana in an increasing number of states and countries, and the growing number of patents related to the medical use of marijuana.

There are several types of medical marijuana products available on the market, including dried marijuana flowers, oils, and edibles. The most common method of administering medical marijuana is through inhalation, either through smoking or vaporization. Other methods of administration include oral ingestion, topical application, and suppository insertion.

 Companies

Tilray
Aurora Cannabis
Canopy Growth Corporation
Aphria, Inc.
Maricann Group, Inc.
Tikun Olam, Ltd.
Corp.
GW Pharmaceuticals plc.
Cannabis Sativa, Inc.
Medical Marijuana, Inc.

 Buy Full Report Now and Get Up to 20% Discount @ https://www.persistencemarketresearch.com/checkout/13897

The use of medical marijuana is regulated by state laws in the United States, and the possession, cultivation, and use of marijuana are still illegal under federal law. However, several states have legalized the use of medical marijuana for certain medical conditions, and more states are expected to follow suit in the coming years.

It is important to note that the safety and effectiveness of medical marijuana as a treatment for various medical conditions have not been fully established and more research is needed. It is also important to consult with a healthcare provider before using medical marijuana to ensure that it is safe and appropriate for your specific medical needs.

Competition Landscape

The market is fast growing as more countries have legalized marijuana for medical use. Early adopters of the market are anticipated to profit by increasing their regional presence and solidifying their market dominance. Different regulatory, quality, and pricing requirements have an impact on cross-border trade as well. Manufacturers in the medical marijuana sector are primarily fortifying their positions through a variety of strategic actions, including as partnerships, acquisitions, and agreements to expand their product lines. Several recent examples include.

Key instances include:

In June 2021, the Supreme Cannabis Company was fully acquired by one of the biggest cannabis companies, Canopy Growth. They were able to further solidify their position as the industry leader thanks to the acquisition.

In Jan 2019, Tauriga Sciences had a manufacturing deal with a Maryland-based gum manufacturer to manufacture their line of cannabis/CBD chewing gum (CBD Gum).

Request Customization @ https://www.persistencemarketresearch.com/request-customization/13897

As assessed by Persistence Market Research, retail pharmacies segment is expected to hold a largest market value of US$ 20.2 Bn by 2023. Overall, medical marijuana market sales account for approximately 87.6% revenue share in the global pain management drugs market, which was valued at around US$ 25.6 Bn at the end of 2022.

Key Segments Covered in Medical Marijuana Industry Research

Product:

Dried flower
Extract Form

Indication:

Pain Management
Seizure
Others

Distribution Channel:

Retail pharmacies
E-commerce

Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa

For More Premium Insights, Check out the Link:

X-ray Photoelectron Spectroscopy Market - https://www.persistencemarketresearch.com/market-research/xray-photoelectron-spectroscopy-market.asp

Fall Detection System Market - https://www.persistencemarketresearch.com/market-research/fall-detection-system-market-092017.asp

Elastomeric Infusion Pumps Market - https://www.persistencemarketresearch.com/market-research/elastomeric-Infusion-pumps-market.asp

Hospital Beds Market - https://www.persistencemarketresearch.com/market-research/hospital-beds-market.asp

Next Generation Centrifuge Market - https://www.persistencemarketresearch.com/market-research/next-generation-centrifuge-market.asp

About Us

Persistence Market Research’s Expertise in Life Sciences and Transformational Health

Our expert team of industry analysts comprising management graduates, medical professionals, engineers, and project managers provides insights on emerging therapy areas, diagnostic tools, medical devices and components, reimbursement and market access, biotechnology, and life science research products and services to equip decision-makers with sound inputs and strategic recommendations. Click here to learn more about how we zero in on the critical aspects of this industry.

Contact Us:

Persistence Market Research

Japan

Persistence Market Research

1-2-1 Kinshi Arca Central Building 14/F Tokyo, 130-0013 Japan

Call 0800-222-1088

United States

Address – 305 Broadway, 7th Floor, New York City, NY 10007 United States

U.S. Ph. – +1-646-568-7751

USA-Canada Toll-free – +1 800-961-0353

Sales – sales@persistencemarketresearch.com

Atul Singh
PMR
+ + +1 646-568-7751
email us here
Visit us on social media:
Twitter
LinkedIn