Medicinal Cannabis Market, by Point of Sale (Dispensaries, Online Pharmacy, Hospital Pharmacy), by Active Ingredient (Tetrahydrocannabinol (THC) and Cannabidiol (CBD)) and by Therapeutic Application (Pain, Arthritis, Neurological Disease (Epilepsy, Multiple Sclerosis and Other Neurological Applications), and Other Applications) - Size, Share, Outlook, and Opportunity Analysis 2019 - 2027

  • Published On : Sep 2019 |
  • Pages : 171 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Medicinal Cannabis Market - Insights

Medicinal cannabis is also known as medical marijuana which is used either to treat disease or to improve their symptoms. The two cannabinoids - delta-9-tetrahydrocannabinol (THC) and Cannabidiol (CBD) are used in treatment of certain disease or health conditions, and applications such as pain management, blood pressure, memory, concentration, appetite, sensory stimulus, muscular problems, and seizures. Various countries around the globe are involved in legalization of export of medicinal cannabis products, which is expected to fuel growth of the medicinal cannabis market. For instance, in January 2018, the government of Australia allowed cannabis producers in the country to export medicinal cannabis and cannabis products in the global market.

The global medicinal cannabis market is estimated at US$ 5,448.4 million in 2019 and is expected to witness a CAGR of 24.4% over the forecast period (2019 – 2027).

Figure 1. Global Medicinal Cannabis Market Share (%), by Point of Sale, 2019

Medical Cannabis  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2019)

Increase in the legalization of medicinal cannabis in various economies is expected to augment the market growth

Increasing approvals for medicinal cannabis products and growing research and development activities in the medicinal cannabis market are expected to support growth of the market. For instance, in March 2017, Germany’s parliament passed a law allowing medicinal use of the cannabis plant by allowing healthcare professionals to prescribe medicinal cannabis products to patients suffering from health issues such as chronic pain, vomiting, and nausea. However, health issues resulting from excessive cannabis consumption such as tachycardia, risk of heart attack, particularly in individuals with existing heart disease or arrhythmias, are expected to restrain growth of the market.

Legalization of medicinal cannabis is expected to grow once conclusive evidence regarding its safety and efficacy is obtained through extensive research. For instance, in 2013, Czech Republic legalized medicinal marijuana for patients suffering from chronic pain, epilepsy, chemotherapy induced side effects, and other severe disease indications. Furthermore, the law allows patients with marijuana prescription to purchase medicinal marijuana from pharmacies. However, cultivation of marijuana in not allowed in the country, and thereby suppliers need to import medicinal cannabis. These factors are expected to contribute to the growth of the medicinal cannabis use in pharmaceutical and biotechnology industry.

Medicinal Cannabis Market - Regional Insights

On the basis of region, the global medicinal cannabis market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America is expected to hold dominant position in the global medicinal cannabis market during the forecast period manufacturers U.S. medical cannabis market are focusing on expansion strategies to increase their product portfolio. For instance, in July 2016, Insys Therapeutics, Inc. received the U.S. Food and Drug Administration (FDA) approval for dronabinol oral solution, Syndros, an orally administered liquid formulation of the pharmaceutical, cannabinoid dronabinol. Syndros is indicated in treatment of anorexia associated with weight loss among patients suffering from AIDS and those suffering from cancer chemotherapy-induced nausea and vomiting.

Potential medicinal cannabis markets other than the U.S. include Canada, Israel, Australia, and Spain. Mexico is also in process of legalizing cannabis. For instance, in February 2016, Medical Marijuana, Inc. launched the HempMeds Mexico, a CBD hemp oil product, in Mexico. With the launch of HempMeds Mexico, the company intends to expand its cannabis business in Latin America by establishing labs, manufacturing facilities, and sales and distribution facilities in the region in the near future.

Moreover, companies operating in the North America market are adopting inorganic growth strategies, which is expected to drive growth of the market. For instance in, January 2018, Apria, Inc. entered into a distribution agreement with Cannabis Wheaton, to supply 60,000 kilograms of the cannabis products between January 2018 and February 2022. The agreement has allowed Apria to expand its brand through Cannabis Wheaton’s strong distribution network in Canada.

Global Medicinal Cannabis Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027

Medical Cannabis  | Coherent Market Insights

 Source: Coherent Market Insights Analysis (2019)

Medicinal Cannabis Market - Competitive Landscape

Some of the key players operating in medicinal cannabis market include BOL Pharma, Tilray, Medreleaf Corporation, Aurora Cannabis, Inc., Canopy Growth Corporation, Insys Therapeutics, Inc., Aphria, Inc., MGC Pharmaceuticals Limited, GW Pharmaceuticals, plc., and Medical Marijuana Inc.

Medicinal cannabis, also known as medical marijuana, is used either for the treatment of diseases or to improve their symptoms. The two cannabinoids - delta-9-tetrahydrocannabinol (THC) and Cannabidiol (CBD) are used in treatment of certain diseases or health conditions such as pain, blood pressure, memory, concentration, appetite, sensory stimulus, muscular problems, and seizures. Marijuana was the most widely used drug globally in 2014 with around 183 million users. Such factors have led to increasing initiatives among governments worldwide to conduct studies regarding legalization of the drug for medicinal use. The U.S National Institute on Drug Abuse is conducting research on cannabis (marijuana) to treat numerous diseases and conditions such as autoimmune diseases, pain, inflammation, seizures, mental disorders, and substance abuse disorders. Regulatory compliance is a key factor that influences cost, quality, and safety of cannabis (marijuana) as well as the capacity for the manufacturers in the medicinal cannabis market to be responsive, scalable, and innovative.

Market Dynamics

According to the Medical Marijuana, Inc., the legal marijuana industry in the U.S. was valued at US$ 7.1 billion in 2016, with an increase of 25% Y-o-Y. In 2016, 28 states in the U.S. legalized marijuana for medicinal purposes. In November 2016, California, Nevada, Maine, and Massachusetts legalized recreational use of marijuana. Increasing legalization of cannabis (marijuana) in the U.S. has attracted attention of global investors in the medicinal cannabis market.

Increasing technological advancements in testing cannabis quality made easier for manufacturer to develop the new cannabis medicines to various disease indications, which is expected to drive growth of medicinal cannabis market. For instance, in November 2018, PerkinElmer, Inc. launched its QSight 400 Series Triple Quad Mass Spectrometer, which is a highly sensitive analytical instrument designed for rapid identification and quantitation of pesticides, mycotoxins, contaminants in complex food, cannabis, and environmental testing applications.

Similarly, in November 2016, Waters Corporation expanded its CORTECS Columns product line, with the launch of two novel chemistries— CORTECS T3 and CORTECS Shield RP18. These new CORTECS column chemistries have enabled scientists to obtain additional information per analysis and reduce cost of analyzing complex samples including synthetic cannabinoids, biomarkers, natural products, counterfeit cosmetics, veterinary drugs, drinking water, and vitamins.

Furthermore, in Middle East, Israel has approved the medical cannabis products. In Africa, Lesotho and Malawi (South Africa) governments have granted a license for medicinal marijuana in 2017. In June 2017, Verve Dynamics, a Cape Town, South Africa-based alternative medicines company received a license from the government of Lesotho to cultivate cannabidiol medicinal cannabis. Verve Dynamics intends to cultivate and produce medicinal cannabis products and sell these product in South Africa. However, lack of formulation of a comprehensive law pertaining to medical marijuana in some states inhibits patient access to the drug.

Market Taxonomy

This report segments the global medicinal cannabis market on the basis of point of sale, active ingredient, and therapeutic application. On the basis of point of sale, the global medicinal cannabis market is classified into dispensaries, online pharmacies, and hospital pharmacies. Active ingredients of medicinal cannabis include tetrahydrocannabinol (THC) and Cannabidiol (CBD). Therapeutic application is categorized into pain, arthritis, neurological disease, and other applications.

Key Features of the Study:

  • This report provides in-depth analysis of medicinal cannabis market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global medicinal cannabis market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies and future plans
  • Key companies covered as a part of this study include BOL Pharma, Tilray, Medreleaf Corporation, Aurora Cannabis, Inc., Canopy Growth Corporation, Insys Therapeutics, Inc., Aphria, Inc., MGC Pharmaceuticals Limited, GW Pharmaceuticals, plc., and Medical Marijuana Inc.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion and marketing tactics
  • The global medicinal cannabis market report caters to various stakeholders in this industry including investors, suppliers, medicinal cannabis device manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision making through various strategy matrices used in analyzing the medicinal cannabis market

Detailed Segmentation:

  • Global Medicinal Cannabis Market, By Point of Sale:
    • Dispensaries
    • Online Pharmacy
    • Hospital Pharmacy
  • Global Medicinal Cannabis Market, By Active Ingredient:
    • Tetrahydrocannabinol (THC)
    • Cannabidiol (CBD)
  • Global Medicinal Cannabis Market, By Therapeutic Application:
    • Pain
    • Arthritis
    • Neurological Disease
      • Epilepsy
      • Multiple Sclerosis
      • Other Neurological Applications
    • Other Applications
  • Global Medicinal Cannabis Market, By Geography:
    • North America
      • By Country:
        • U.S.
          • By Active Ingredient:
            • Tetrahydrocannabinol (THC)
            • Cannabidiol (CBD)
        • Canada
          • By Active Ingredient:
            • Tetrahydrocannabinol (THC)
            • Cannabidiol (CBD)
          • By Point of Sale:
            • Dispensaries
            • Online Pharmacy
            • Hospital Pharmacy
          • By Active Ingredient:
            • Tetrahydrocannabinol (THC)
            • Cannabidiol (CBD)
          • By Therapeutic Application:
            • Pain
            • Arthritis
            • Neurological Disease
              • Epilepsy
              • Multiple Sclerosis
              • Other Neurological Applications
            • Other Applications
    • Europe
      • By Country:
        • U.K.
          • By Active Ingredient:
            • Tetrahydrocannabinol (THC)
            • Cannabidiol (CBD)
        • Germany
          • By Active Ingredient:
            • Tetrahydrocannabinol (THC)
            • Cannabidiol (CBD)
        • Italy
          • By Active Ingredient:
            • Tetrahydrocannabinol (THC)
            • Cannabidiol (CBD)
        • Spain
          • By Active Ingredient:
            • Tetrahydrocannabinol (THC)
            • Cannabidiol (CBD)
        • France
          • By Active Ingredient:
            • Tetrahydrocannabinol (THC)
            • Cannabidiol (CBD)
        • Rest of Europe
          • By Active Ingredient:
            • Tetrahydrocannabinol (THC)
            • Cannabidiol (CBD)
          • By Point of Sale:
            • Dispensaries
            • Online Pharmacy
            • Hospital Pharmacy
          • By Active Ingredient:
            • Tetrahydrocannabinol (THC)
            • Cannabidiol (CBD)
          • By Therapeutic Application:
            • Pain
            • Arthritis
            • Neurological Disease
              • Epilepsy
              • Multiple Sclerosis
              • Other Neurological Applications
            • Other Applications
    • Asia-Pacific (Australia)
      • By Point of Sale:
        • Dispensaries
        • Online Pharmacy
        • Hospital Pharmacy
      • By Active Ingredient:
        • Tetrahydrocannabinol (THC)
        • Cannabidiol (CBD)
      • By Therapeutic Application:
        • Pain
        • Arthritis
        • Neurological Disease
          • Epilepsy
          • Multiple Sclerosis
          • Other Neurological Applications
        • Other Applications
    • Latin America
      • By Country:
        • Chile
          • By Active Ingredient:
            • Tetrahydrocannabinol (THC)
            • Cannabidiol (CBD)
        • Argentina
          • By Active Ingredient:
            • Tetrahydrocannabinol (THC)
            • Cannabidiol (CBD)
        • Rest of Latin America
          • By Active Ingredient:
            • Tetrahydrocannabinol (THC)
            • Cannabidiol (CBD)
          • By Point of Sale:
            • Dispensaries
            • Online Pharmacy
            • Hospital Pharmacy
          • By Active Ingredient:
            • Tetrahydrocannabinol (THC)
            • Cannabidiol (CBD)
          • By Therapeutic Application:
            • Pain
            • Arthritis
            • Neurological Disease
              • Epilepsy
              • Multiple Sclerosis
              • Other Neurological Applications
            • Other Applications
    • Middle East (Israel)
      • By Point of Sale:
        • Dispensaries
        • Online Pharmacy
        • Hospital Pharmacy
      • By Active Ingredient:
        • Tetrahydrocannabinol (THC)
        • Cannabidiol (CBD)
      • By Therapeutic Application:
        • Pain
        • Arthritis
        • Neurological Disease
          • Epilepsy
          • Multiple Sclerosis
          • Other Neurological Applications
        • Other Applications
    • Africa
      • By Point of Sale:
        • Dispensaries
        • Online Pharmacy
        • Hospital Pharmacy
      • By Active Ingredient:
        • Tetrahydrocannabinol (THC)
        • Cannabidiol (CBD)
      • By Therapeutic Application:
        • Pain
        • Arthritis
        • Neurological Disease
          • Epilepsy
          • Multiple Sclerosis
          • Other Neurological Applications
        • Other Applications
  • Company Profiles
    • BOL Pharma*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Tilray
    • Medreleaf Corporation
    • Aurora Cannabis, Inc.
    • Canopy Growth Corporation
    • Insys Therapeutics, Inc.
    • Aphria, Inc.
    • MGC Pharmaceuticals Limited
    • GW Pharmaceuticals, plc.
    • Medical Marijuana Inc.

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet By Point of Sale
      • Market Snippet By Active Ingredient
      • Market Snippet By Therapeutic Application
      • Market Snippet By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Promotional Activities
      • Product Approvals
      • Application of Cannabis to Medicinal Cannabis
  4.  Global Medicinal Cannabis Market, By Point of Sale, 2016 - 2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 - 2027
      • Segment Trends
    • Dispensaries
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million)
    • Online Pharmacy
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million)
    • Hospital Pharmacy
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million)
  5. Global Medicinal Cannabis Market, By Active Ingredient, 2016 - 2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 - 2027
      • Segment Trends
    • Tetrahydrocannabinol (THC)
      • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 - 2027
    • Cannabidiol (CBD)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million)
  6. Global Medicinal Cannabis Market, By Therapeutic Application, 2016 - 2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 - 2027
      • Segment Trends
    • Pain
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million)
    • Arthritis
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million)
    • Neurological Disease
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million)
        • Epilepsy
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million)
        • Multiple Sclerosis
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million)
        • Other Neurological Applications
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million)
    • Other Applications
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (US$ Million)
  7. Global Medicinal Cannabis Market, By Region, 2016 - 2027 (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017 - 2027
    • North America
      • Market Share Analysis, 2017 and 2027 (%)
      • Market Size and Forecast, By Point of Sale, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Active Ingredient, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Country, 2017-2027, (US$ Million)
        • U.S.
          • Market Size and Forecast, By Active Ingredient, 2017-2027, (US$ Million)
        • Canada
          • Market Size and Forecast, By Active Ingredient, 2017-2027, (US$ Million)
    • Europe
      • Market Share Analysis, 2017 and 2027 (%)
      • Market Size and Forecast, By Point of Sale, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Active Ingredient, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Country, 2017-2027, (US$ Million)
        • U.K.
          • Market Size and Forecast, By Active Ingredient, 2017-2027, (US$ Million)
        • Germany
          • Market Size and Forecast, By Active Ingredient, 2017-2027, (US$ Million)
        • Italy
          • Market Size and Forecast, By Active Ingredient, 2017-2027, (US$ Million)
        • France
          • Market Size and Forecast, By Active Ingredient, 2017-2027, (US$ Million)
        • Spain
          • Market Size and Forecast, By Active Ingredient, 2017-2027, (US$ Million)
        • Rest of Europe
          • Market Size and Forecast, By Active Ingredient, 2017-2027, (US$ Million)
    • Asia Pacific (Australia)
      • Market Share Analysis, 2017 and 2027 (%)
      • Market Size and Forecast, By Point of Sale, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Active Ingredient, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Country, 2017-2027, (US$ Million)
    • Latin America
      • Market Share Analysis, 2017 and 2027 (%)
      • Market Size and Forecast, By Point of Sale, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Active Ingredient, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Country, 2017-2027, (US$ Million)
        • Chile
          • Market Size and Forecast, By Active Ingredient, 2017-2027, (US$ Million)
        • Argentina
          • Market Size and Forecast, By Active Ingredient, 2017-2027, (US$ Million)
        • Rest of Latin America
          • Market Size and Forecast, By Active Ingredient, 2017-2027, (US$ Million)
    • Africa
      • Market Share Analysis, 2017 and 2027 (%)
      • Market Size and Forecast, By Point of Sale, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Active Ingredient, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Country, 2017-2027, (US$ Million)
    • Middle East (Israel)
      • Market Share Analysis, 2017 and 2027 (%)
      • Market Size and Forecast, By Point of Sale, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Active Ingredient, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Therapeutic Application, 2017-2027, (US$ Million)
      • Market Size and Forecast, By Country, 2017-2027, (US$ Million)
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • BOL Pharma
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Tilray
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Medreleaf Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Aurora Cannabis, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Canopy Growth Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Insys Therapeutics, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Aphria, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • MGC Pharmaceuticals Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • GW Pharmaceuticals, plc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Medical Marijuana Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
    • Analyst Views
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 44 market data tables and 26 figures on "Medicinal Cannabis Market - Global forecast to 2027”.

Choose License Type

"How Can I Help You" ?

Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.

[email protected]

Key Benefits

  • Custom Research Solution

    Talk to our research consultant to design an exclusive report as per your research needs.

  • Customer Fulfilment

    We aim to fulfil client's research demands with tailored research solutions.

  • Quick Turnaround Time Reports

    We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

  • 360-degree Approach

    We cover each industry from supply and demand side with an aim to provide a most holistic research study.

  • Assured Quality

    We strive to provide most accurate and reliable research findings in our research reports.