Chemical and MaterialsNewsPharmaceutical

CAGR 32.2% Medicinal Cannabis Market to Reach $110.7 Million Globally: Canopy Growth Corporation Aurora Cannabis, Medmen, Terra Tech Corp, Aphria Inc., Vivo Cannabis, Chronos Group, Medical Marijuana and others

This Medicinal Cannabis market report provides an in-depth study of Medicinal Cannabis market using Porter’s Five Forces Analysis I.e. Strength, Weakness, Opportunities, and Threat also known as SWOT analysis for the organization. The Medicinal Cannabis Market report also provides a deep insight into the activities of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.

Market Analysis:

Legal Marijuana market is expected to rise from its initial estimated value of USD 13.4 million in 2018 to an estimated value of USD 110.7 million by 2026, registering a CAGR of 32.2% during the forecast period of 2019-2026. This rise in market value can be attributed to rising need of plant protein amid rising amount of health concerns and veganism worldwide.

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Key Competitors:

  • Canopy Growth Corporation Aurora Cannabis
  • Medmen
  • Terra Tech Corp
  • Aphria
  • Vivo Cannabis
  • Chronos Group
  • Medical Marijuana
  • Stenocare
  • Tikun Olam
  • Organigrams Holding
  • Cannabis Science
  • Maricann Group
  • Tilray
  • Hexo
  • Scotts Miracle-Gro
  • GW Pharmaceuticals PLC
  • MedReLeaf
  • Insys Therapeutics
  • CanniMed Therapeutics
  • Cara Therapeutics

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Market Drivers & Restraints:

  • Growing medicinal application of cannabis
  • Increasing legalization of cannabis
  • Complex regulatory structure for the usage of cannabis

Segmentation:

Product Type

  • Flower
  • Concentrates

Application

  • Medical
  • Recreational

Compound

  • Tetrahydrocannabinol (THC)-Dominant
  • Cannabidiol (CBD)-Dominant
  • Balanced THC & CBD
  • and more
Key Developments in the Market:
  • In December 2017, Health Canada provided licenses to two Quebec based cannabis production facilities.
  • November 2017, Ohio Department of Commerce provided 12 provisional large-scale medical cannabis cultivation licenses.

Competitive Analysis:

Global Legal Marijuana market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cannabis market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

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