LONDON--(BUSINESS WIRE)--According to the latest market research report released by Technavio, the global medical marijuana market is expected to accelerate at a CAGR of more than 21% during the forecast period. The increasing use of cannabis for medical purposes is one of the key factors triggering the growth of the market.
This research report titled ‘Global Medical Marijuana Market 2018-2022’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global medical marijuana market into the following application:
- Chronic pain
In 2017, the chronic pain segment accounted for 39% of the global market and is projected to fall to 38% by 2022, exhibiting almost 1% decrease in market share.
Global medical marijuana market: Top emerging trend
The emergence of luxury cannabis products is an emerging trend in the medical marijuana space. Since the consumption of cannabis through smoking can be harmful, several vendors selling luxury cannabis products that make controlled consumption of cannabis beneficial to the users have emerged in the market. Luxury cannabis products can be defined as products that contain therapeutic doses of cannabis in edible products. They can be consumed without experiencing the side effects of smoking cannabis. Cannabis is being added to edibles such as cookies, chocolates, muffins, brownies, teas, and chewing gums. Madame Munchie is a company in the US that makes cannabis-infused edible products. Another vendor, Defonce Chocolates, makes edible cannabis chocolates that also come in a variety of flavors and sizes. Patients who are recommended specific dosages of cannabis by their physicians can consume these edibles.
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Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Technavio’s report provides expert market research on the following topics:
- Market Outline
- Global Medical Marijuana Market Overview
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, and EMEA)
- Key leading countries
- Market segmentation by application (chronic pain and nausea)
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (Aurora Cannabis, GW Pharmaceuticals, mCig, Medical Marijuana, and United Cannabis)
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