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Medical Marijuana Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Mar 2021
  • Pages: 120
  • SKU: IRTNTR40220
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The medical marijuana market share is expected to increase by USD 27.72 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 18.5%.

This medical marijuana market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers medical marijuana market segmentations by application (chronic pain, nausea, and others) and geography (North America, Europe, APAC, South America, and MEA). The medical marijuana market report also offers information on several market vendors, including Aphria Inc., Aurora Cannabis Inc., Cannabis Sativa Inc., Canopy Growth Corp., Cronos Group Inc., DEMECAN Holding GmbH, GW Pharmaceuticals Plc, Medical Marijuana Inc., Tilray Inc., and VIVO Cannabis Inc. among others.

What will the Medical Marijuana Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Medical Marijuana Market Size for the Forecast Period and Other Important Statistics

 

Medical Marijuana Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The rising number of product launches is notably driving the medical marijuana market growth, although factors such as side effects associated with inappropriate use of medical marijuana may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the medical marijuana industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Medical Marijuana Market Driver

The rising number of product launches is notably driving the medical marijuana market growth. The rising number of product launches is one of the major factors influencing the growth of the medical marijuana market. New product launches help increase the revenue and market share of vendors. The rise in demand for new medical marijuana products is attributed to the legalization of marijuana for medical applications. The rising number of product launches is one of the major factors influencing the growth of the medical marijuana market. New product launches help increase the revenue and market share of vendors. The rise in demand for new medical marijuana products is attributed to the legalization of marijuana for medical applications. The continuous launch of new products will encourage more consumers to buy medical marijuana. This, in turn, will drive the growth of the global medical marijuana market during the forecast period.

Key Medical Marijuana Market Trend

Plans to increase production and availability of medical marijuana by governments is the key market driving the medical marijuana market growth. The production and availability of medical marijuana products are increasing owing to the rise in demand from dispensaries and patients. Hence, to meet the rising demand, government organizations and marijuana growers are trying to increase the production of marijuana. In the US, the government plans to legalize the production of marijuana for medical applications. For instance, in August 2019, the Government of the US announced plans to improve access to legal marijuana for medical research and expand the number of entities certified to grow marijuana plants. Plans by governments to increase the production of medical marijuana can influence the sales of the product and, therefore, drive the growth of the market during the forecast period.

Key Medical Marijuana Market Challenge

The major challenge impeding the medical marijuana market growth is the side effects associated with inappropriate use of medical marijuana. The active ingredients in medical marijuana are known as cannabinoids. THC is one of the most important and active cannabinoids. Medical marijuana also contains CBD. The amount of THC in medical marijuana varies based on how the plant is grown, prepared, and stored. In addition, medical marijuana contains many other chemicals, and the amount can vary from plant to plant. Severe side effects include increased heart rate, depression, and difficulty in memorizing and learning. Such side effects can negatively impact the adoption of medical marijuana during the forecast period.

This medical marijuana market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global medical marijuana market as a part of the global tobacco market.  Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the medical marijuana market during the forecast period.

Who are the Major Medical Marijuana Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Aphria Inc.
  • Aurora Cannabis Inc.
  • Cannabis Sativa Inc.
  • Canopy Growth Corp.
  • Cronos Group Inc.
  • DEMECAN Holding GmbH
  • GW Pharmaceuticals Plc
  • Medical Marijuana Inc.
  • Tilray Inc.
  • VIVO Cannabis Inc.

 

This statistical study of the medical marijuana market encompasses successful business strategies deployed by the key vendors. The medical marijuana market is fragmented and the vendors are deploying growth strategies such as trying to increase sales and market share by expanding their product offerings and opening new medical marijuana dispensaries to compete in the market.

Product Insights and News

  • Aphria Inc. - The company offers medical marijuana under its brand Broken Coast. The company offers medical marijuana in oil form, capsule form, and dried form.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The medical marijuana market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Medical Marijuana Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the medical marijuana market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by (manufacturers/service providers) to ensure a sustainable market presence.

Which are the Key Regions for Medical Marijuana Market?

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46% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for the medical marijuana market in North America. Market growth in this region will be faster than the growth of the market in regions.

Government initiatives, for instance, the decision to legalize the use of marijuana as a medication for epilepsy to legalize medical marijuana will facilitate the medical marijuana market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic resulted in a surge in demand for medical cannabis in the region. For example, the pandemic substantially increased the demand for medical cannabis in New Mexico, worsening the state s medical cannabis shortage and increasing the price. Limited supply, paired with the pandemic-induced spike in demand, was accompanied by a jump in price.

What are the Revenue-generating Application Segments in the Medical Marijuana Market?

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The medical marijuana market share growth by the chronic pain segment will be significant during the forecast period. Medical marijuana is gaining popularity as an alternative to traditional pain-relieving medications. The number of adults with chronic pain is increasing in countries such as the US, UK, and China. This factor, along with the growing popularity of medical marijuana, can accelerate the growth momentum of the market during the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the medical marijuana market size and actionable market insights on post COVID-19 impact on each segment.

 

Medical Marijuana Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 18.5%

Market growth 2021-2025

$ 27.72 billion

Market structure

Fragmented

YoY growth (%)

18.08

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 46%

Key consumer countries

US, Germany, France, UK, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aphria Inc., Aurora Cannabis Inc., Cannabis Sativa Inc., Canopy Growth Corp., Cronos Group Inc., DEMECAN Holding GmbH, GW Pharmaceuticals Plc, Medical Marijuana Inc., Tilray Inc., and VIVO Cannabis Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Medical Marijuana Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive medical marijuana market growth during the next five years
  • Precise estimation of the medical marijuana market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the medical marijuana industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of medical marijuana market vendors

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Read More Read Less

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Tobacco market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 15: Application - Market share 2020-2025 (%)
    • 5.2 Comparison by Application
      • Exhibit 16: Comparison by Application
    • 5.3 Chronic pain - Market size and forecast 2020-2025
      • Exhibit 17: Chronic pain - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 18: Chronic pain - Year-over-year growth 2020-2025 (%)
    • 5.4 Nausea - Market size and forecast 2020-2025
      • Exhibit 19: Nausea - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 20: Nausea - Year-over-year growth 2020-2025 (%)
    • 5.5 Others - Market size and forecast 2020-2025
      • Exhibit 21: Others - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 22: Others - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by Application
      • Exhibit 23: Market opportunity by Application

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 25: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 26: Geographic comparison
    • 7.3 North America - Market size and forecast 2020-2025
      • Exhibit 27: North America - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 28: North America - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 29: Europe - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 APAC - Market size and forecast 2020-2025
      • Exhibit 31: APAC - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 32: APAC - Year-over-year growth 2020-2025 (%)
    • 7.6 South America - Market size and forecast 2020-2025
      • Exhibit 33: South America - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 34: South America - Year-over-year growth 2020-2025 (%)
    • 7.7 MEA - Market size and forecast 2020-2025
      • Exhibit 35: MEA - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 36: MEA - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 37: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 38: Market opportunity by geography ($ billion)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 39: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Overview
          • Exhibit 40: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 41: Landscape disruption
          • Exhibit 42: Industry risks

        10 Vendor Analysis

        • 10.1 Vendors covered
          • Exhibit 43: Vendors covered
        • 10.2 Market positioning of vendors
          • Exhibit 44: Market positioning of vendors
        • 10.3 Aphria Inc.
          • Exhibit 45: Aphria Inc. - Overview
          • Exhibit 46: Aphria Inc. - Business segments
          • Exhibit 47: Aphria Inc. - Key offerings
          • Exhibit 48: Aphria Inc. - Segment focus
        • 10.4 Aurora Cannabis Inc.
          • 10.5 Cannabis Sativa Inc.
            • Exhibit 53: Cannabis Sativa Inc. - Overview
            • Exhibit 54: Cannabis Sativa Inc. - Business segments
            • Exhibit 55: Cannabis Sativa Inc. - Key offerings
            • Exhibit 56: Cannabis Sativa Inc. - Segment focus
          • 10.6 Canopy Growth Corp.
            • Exhibit 57: Canopy Growth Corp. - Overview
            • Exhibit 58: Canopy Growth Corp. - Business segments
            • Exhibit 59: Canopy Growth Corp. - Key offerings
            • Exhibit 60: Canopy Growth Corp. - Segment focus
          • 10.7 Cronos Group Inc.
            • Exhibit 61: Cronos Group Inc. - Overview
            • Exhibit 62: Cronos Group Inc. - Business segments
            • Exhibit 63: Cronos Group Inc. - Key offerings
            • Exhibit 64: Cronos Group Inc. - Segment focus
          • 10.8 DEMECAN Holding GmbH
            • Exhibit 65: DEMECAN Holding GmbH - Overview
            • Exhibit 66: DEMECAN Holding GmbH - Product and service
            • Exhibit 67: DEMECAN Holding GmbH - Key offerings
          • 10.9 GW Pharmaceuticals Plc
            • Exhibit 68: GW Pharmaceuticals Plc - Overview
            • Exhibit 69: GW Pharmaceuticals Plc - Business segments
            • Exhibit 70: GW Pharmaceuticals Plc - Key offerings
          • 10.10 Medical Marijuana Inc.
            • Exhibit 71: Medical Marijuana Inc. - Overview
            • Exhibit 72: Medical Marijuana Inc. - Product and service
            • Exhibit 73: Medical Marijuana Inc. - Key offerings
          • 10.11 Tilray Inc.
            • Exhibit 74: Tilray Inc. - Overview
            • Exhibit 75: Tilray Inc. - Business segments
            • Exhibit 76: Tilray Inc. - Key offerings
            • Exhibit 77: Tilray Inc. - Segment focus
          • 10.12 VIVO Cannabis Inc.
            • Exhibit 78: VIVO Cannabis Inc. - Overview
            • Exhibit 79: VIVO Cannabis Inc. - Business segments
            • Exhibit 80: VIVO Cannabis Inc. - Key offerings
            • Exhibit 81: VIVO Cannabis Inc. - Segment focus

          11 Appendix

          • 11.1 Scope of the report
            • 11.2 Currency conversion rates for US$
              • Exhibit 82: Currency conversion rates for US$
            • 11.3 Research methodology
              • Exhibit 83: Research Methodology
              • Exhibit 84: Validation techniques employed for market sizing
              • Exhibit 85: Information sources
            • 11.4 List of abbreviations
              • Exhibit 86: List of abbreviations

            Research Framework

            Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

            TechnavioINFORMATION SOURCES

            Primary sources

            • Manufacturers and suppliers
            • Channel partners
            • Industry experts
            • Strategic decision makers

            Secondary sources

            • Industry journals and periodicals
            • Government data
            • Financial reports of key industry players
            • Historical data
            • Press releases
            Technavio

            TechnavioDATA ANALYSIS

            Data Synthesis

            • Collation of data
            • Estimation of key figures
            • Analysis of derived insights

            Data Validation

            • Triangulation with data models
            • Reference against proprietary databases
            • Corroboration with industry experts
            Technavio

            TechnavioREPORT WRITING

            Qualitative

            • Market drivers
            • Market challenges
            • Market trends
            • Five forces analysis

            Quantitative

            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
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            The medical marijuana market market growth will increase by $27.72 billion during 2021-2025.
            The medical marijuana market market is expected to grow at a CAGR of 18.5% during 2021-2025.
            Technavio has segmented the medical marijuana market market by application (Chronic pain, Nausea, and Others) and geographic (North America, Europe, APAC, South America, MEA, North America, Europe, APAC, South America, and MEA).
            Aphria Inc., Aurora Cannabis Inc., Cannabis Sativa Inc., Canopy Growth Corp., Cronos Group Inc., DEMECAN Holding GmbH, GW Pharmaceuticals Plc, Medical Marijuana Inc., Tilray Inc., VIVO Cannabis Inc. are a few of the key vendors in the medical marijuana market market.
            North America will register the highest growth rate of 46.43% among the other regions. Therefore, the medical marijuana market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
            The key factors driving the medical marijuana market market growth are:
            • Rising number of product launches
            • Increasing number of awareness campaigns
            The medical marijuana market market vendors should focus on grabbing business opportunities from the chronic pain segment as it accounted for the largest market share in the base year.
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