(MENAFNEditorial) iCrowdNewswire - Dec 11, 2017
The World is estimated to represent a global market of USD 13.88 billion by 2017 with growth rate of 18.3%. According to the National Institute on Drug Abuse (NIDA), Marijuana (also referred as cannabis) is the dried leaves of female flowers of hemp plant which contain psychoactive properties. Delta- 9- tetrahydrocannabinol (Delta-9-THC) is the important psychoactive ingredient, the most abundant cannabinoid presents in marijuana. The movement to accept cannabis as a medicine is propel by multiple factors, including inadequate relief of current available treatment approaches for number of chronic disease conditions such as Crohn's disease, multiple Sclerosis, cancer, Alzheimer's disease, and chronic pain. Such conditions are frequently cited by the proponents of marijuana i.e. cannabis for medical use.
Exclusive Sample Report @ .
The market is categorized as Migraine, Arthritis, Cancer, Chronic Pain, and Others. Chronic pain segment achieved largest share of the total medical marijuana market, captured 35.26% share of the market. The use of pain medication is rapidly increasing, imposing a major burden on the healthcare system. The use of medical marijuana is reported to significantly alleviate pain symptoms. Its application in cancer and arthritis is also considered to be growing in near future due to advancements and increasing awareness among patient population.
Regionally, developed countries of North America and Europe is the big market for medical marijuana. In Europe, medical cannabis is imported from Holland to the European countries such as Czech Republic, Croatia, Switzerland, Italy, Netherland, and others. Increasing number of prescriptions for the cannabis for various medical indication have surged the demand for medical marijuana in developed regions which will drive the market growth. For example, according to the Marijuana Business Fact Book (2014), more than 730,000 patients have received medical recommendation to use cannabis for different medical indication. Similarly, Health Canada, official forecast projected that medical cannabis patients will grow to 1.2% of the total Canadian population in next 10 years. This industry is predicated to grow at 25% to 28% (i.e. more than 400,000 patients) patient growth by 2024. Huge demand coupled with necessity to include cannabis for medical application will support the market growth.
Owing to its huge benefits in medical application, the market is predicted to grow at slow but steady growth rate in developing regions. Government of some developing regions are considering marijuana as a potential economic opportunity. For example, Agriculture Minister of the Israeli government is researching to develop best ways to grow cannabis. The Health Ministry, having its own medical cannabis department is planning to extend the various licenses to support cannabis industry in the country. Such types of initiatives would in turn support the market growth to great extent during the forecast period.
Companies such as Cannabis Sativa, Cara Therapeutics, Lexaria Corp, United Cannabis Corporation, CannaGrow Holdings Inc., International Consolidated Companies, Inc. and others are present in this market. These companies are investing huge amount of their revenue share on research and development activities to develop novel marijuana based therapeutics for medical applications.
The market size and forecast for each segment has been provided for the period 2014 to 2025, considering 2016 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2017 to 2025 for every reported segment.
Order a Copy @ .
The years considered for the study are:
Historical Year 2014 & 2015
Base Year 2016
Estimated Year 2017
Projected Year 2025
TARGET AUDIENCE
Traders, Distributors, and Suppliers
Manufacturers
Hospitals
Government and Regional Agencies and Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY TYPES
Migraine
Arthritis
Cancer
Chronic Pain
Others
MARKET, BY REGION
North America
Europe
Asia Pacific
Rest of the World
MARKET, BY COUNTRY
Further Breakdown of the North America Market
U.S.
Canada
Further Breakdown of the Europe Market
Germany
France
Finland
Romania
Italy
Rest of Europe
Further Breakdown of the APAC Market
India
China
Rest of APAC
Further Breakdown of the Rest of the World Market
Middle East and Africa
Latin America
Ask to Expertise @ .
Major TOC of Medical Marijuana Market:
MEDICAL MARIJUANA MARKET OVERVIEW
Study Scope
Base Year
Assumption and Methodology
EXECUTIVE SUMMARY
Key Market Facts
Geographical Scenario
Companies in the Market
MEDICAL MARIJUANA KEY MARKET TRENDS
Market Drivers
Impact Analysis of Market Drivers
Market Restraints
Impact Analysis of Market Restraints
Market Opportunities
Market Future Trends
MEDICAL MARIJUANA INDUSTRY STUDY
Regulatory Framework Analysis
Pipeline Analysis
Value Chain Analysis
TOC Continued……!
About US:
Reportsworldwide.com is a one stop shop for all market intelligence needs. Our database of market research reports provides in depth coverage of 12 top industry verticals worldwide. We help you meet your market intelligence needs by mapping it with our database of market research reports including.
Contact Information:
Contact Us:
Email:
Phone: +1 (617) 398-1947
MENAFN1112201700703403ID1096219135
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.