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United States at the retail level to soar by roughly 30% and rec sales are expected to surpass medical this year for the first time ever. Medical Marijuana sales also are expected to buoy the industry, fuelled in part by the expected launch of MMJ markets in Maryland and Hawaii. At the same time, fledging Medical Marijuana programs in states such as Illinois, Nevada and New York could post impressive growth in recent years.
Cannabis are commonly called as Medical Marijuana, which is a flowering herb. It has psychoactive and physiological effects when inhaled or ingested. Medical Marijuana offer treating symptoms of illness and other medical conditions with use of extract of Medical Marijuana plant or complete unprocessed Medical Marijuana plant. The awareness of benefits associated with Medical Marijuana is growing among medical professionals and medical research associations. The potency and THC level of same plant may not be always consistent and hence across the plants with different cultivars. THC level of cannabis is highly dependent on the way plant has grown. Medical Marijuana, hash or hashish are the preparations produce by the Cannabis sativa species of the Cannabis plant category. Sinsemilla is the unfertilized flowering tops of female plant with high level of THC.
Medical Marijuana will soon become a commodity crop like the corn industry which means a race to the bottom on the pricing is almost certain. Growers that won’t distinguish on brand will be forced to move cultivation to low cost markets across globe and export out. It is observed that recently various manufacturing companies planning to open or move cultivation to the likes of North Africa, Balkan States, and West-Indies etc. For ex, the Sri-Lankan government has taken the lead role with the launch of an official cannabis plantation to supply the US medical market and it will produce more than 25 tons a year under military protection.
On application side Medical cannabis has been a legal treatment option across globe for certain health conditions, including arthritis. The Arthritis Society is a leading advocate for research into the use of cannabis for medical purposes. One the most intriguing potential applications for Medical Marijuana is cancer treatment. Medical Marijuana may counter the side effects of chemotherapy, but oncologists globally are researching whether Medical Marijuana plant can be used as sure medicine to treat cancer . Technological advancement leading to replace Rick Simpson Oil treatment for cancer which has been carried out with large pool of patients. According to study cannabinoids can be most effectively used against cancer if combined in a such manner that allows it to act synergistically with one-another.
Medical Marijuana Market : Product Type
Medical Marijuana Market: Application
Medical Marijuana Market : Competitive Analysis
Report includes accurate analysis of key players with Market Value, Company profile, SWOT analysis. The Study constitutes of following key players in Medical Marijuana Market :
Geographical analysis of Medical Marijuana Market:
Global Medical Marijuana Market Report delivers a comprehensive analysis of the following parameters:
Base Year Value (2023)
USD 29541.92 million
Forecast Value (2030)
USD 121593.01 million
CAGR (2022 to 2028)
North America, Europe, Asian Pacific, Latin America, Middle East and Africa, and ROW
Medical Marijuana Market was valued at around USD 29541.92 million in 2023 & estimated to reach USD 121593.01 million by 2030.
Medical Marijuana Market is likely to grow at compounded annual growth rate (CAGR) of 22.4% between 2024 to 2030.
Yes, report is inclusive in-detailed analysis of key players in Medical Marijuana Market
Medical Marijuana Market Study is broadly divided into North America, Europe, Asian Pacific, Latin America, Middle East and Africa, and ROW. Also these regions are further analysed as per various countries
Medical Marijuana Market Report includes Market Segmentation, Regional outlook, Application Analysis, Competitive analysis, Supply-Demand Analysis, Pricing insight.
Yes, the report includes COVID 19 impact on the market.
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