The latest research study “Legal Cannabis Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global legal cannabis market size reached a value of US$ 16.2 Billion in 2021. Looking forward, IMARC Group expects the market value to reach US$ 61.4 Billion by 2027, exhibiting a CAGR of 24.94% during the forecast period (2022-2027).
Legal cannabis is a drug obtained from drying and curing marijuana flowers to the sophisticated chemistry of producing cannabis concentrates. It is used to treat diseases or conditions such as cancer, appetite loss, wasting syndrome (cachexia), and Crohn’s disease. It also regulates and prevents diabetes, helps reduce chronic pain, eases anxiety, and treats depression and inflammatory bowel diseases among the masses. It is utilized for the treatment of different symptoms and diseases, such as migraines, glaucoma, multiple sclerosis, epilepsy, arthritis, Alzheimer’s, Tourette’s, Parkinson’s, amyotrophic lateral sclerosis (ALS), an acquired immunodeficiency syndrome (AIDS), and post-traumatic stress disorder (PTSD). As a result, legal cannabis is widely utilized in the pharmaceutical industry for its medicinal benefits.
Request a Free PDF Sample Copy for more detailed market insights: https://www.imarcgroup.com/legal-cannabis-market/requestsample
Legal Cannabis Market Trends and Drivers:
The market is primarily driven by the legalization and decriminalization of cannabis. In addition, the increasing usage of legalized cannabis and approval of its use in the medical field is other growth-inducing factors. Moreover, international agencies acknowledge potential opportunities that cannabis may offer.
They are also authorizing the use of a medication containing cannabidiol (CBD) for the treatment of rare epilepsy like Dravet syndrome and Lennox-Gastaut syndrome, which is difficult to control with other types of medication, thus propelling the market growth. Besides this, oral cannabinoids are effective antiemetics for adults with chemotherapy-induced nausea and vomiting and also assist in improving spasticity symptoms among the masses with multiple sclerosis (MS)-related spasticity.
Additionally, increasing research and clinical trials coupled with a growing number of medical cannabis dispensaries in several countries that supply cannabis for therapeutic use on a licensed healthcare practitioner recommendation is positively influencing the market growth.
Global Legal Cannabis Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Legal Cannabis Companies:
Aurora Cannabis Inc., Cannabis Sativa Inc., Canopy Growth Corporation, Green Thumb Industries, GW Pharmaceuticals plc (Jazz Pharmaceuticals plc), HEXO Corp., Organigram Holdings Inc., Sundial Growers Inc., The Cronos Group, The Green Organic Dutchman Holdings Ltd., The Scotts Miracle-Gro Company, Tilray and VIVO Cannabis Inc.
The report has segmented the market on the basis of region, source, derivatives, distribution channel and end user.
Breakup by Source:
- Marijuana
- Hemp
Breakup by Derivatives:
- Cannabidiol (CBD)
- Tetrahydrocannabinol (THC)
Breakup by Distribution Channel:
- Recreational Stores
- Pharmacies
- Online Stores
- Others
Breakup by End User:
- Medical Use
- Recreational Use
- Industrial Use
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=5194&flag=C
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Services Private Limited.
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800