LONDON--(BUSINESS WIRE)--Technavio has been monitoring the medical marijuana market and it is poised to grow by USD 22.33 bn during 2020-2024, progressing at a CAGR of over 24% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download Latest Free Sample Report 2020 - 2024
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis.
Frequently Asked Questions:
What are the major trends in the market?
An increase in funding for research and production of medical marijuana is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The market will accelerate at a CAGR of over 24% and the incremental growth of the market is anticipated to be $ 22.33 bn.
Who are the top players in the market?
Aphria Inc., Aurora Cannabis Inc., Cannabis Sativa Inc., Canopy Growth Corp., Cronos Group Inc., GW Pharmaceuticals Plc, mCig Inc., Medical Marijuana Inc., United Cannabis Corp., and Vivo Cannabis Inc, are some of the major market participants
What is the key market driver?
The increasing production of medical marijuana is one of the major factors driving the market.
How big is the North America market?
The North America region will contribute 57% of the market share.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aphria Inc., Aurora Cannabis Inc., Cannabis Sativa Inc., Canopy Growth Corp., Cronos Group Inc., GW Pharmaceuticals Plc, mCig Inc., Medical Marijuana Inc., United Cannabis Corp., and Vivo Cannabis Inc. are some of the major market participants. The increasing production of medical marijuana will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Medical Marijuana Market 2020-2024: Segmentation
Medical Marijuana Market is segmented as below:
- Chronic Pain
- North America
- South America
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Medical Marijuana Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The medical marijuana market report covers the following areas:
- Medical Marijuana Market Size
- Medical Marijuana Market Trends
- Medical Marijuana Market Industry Analysis
This study identifies an increase in funding for research and the production of medical marijuana as one of the prime reasons driving the medical marijuana market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Medical Marijuana Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist medical marijuana market growth during the next five years
- Estimation of the medical marijuana market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the medical marijuana market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of medical marijuana market vendors
Table of Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- 2.1 Preface
- 2.2 Preface
- 2.3 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
- Market segmentation by application
- Comparison by application
- Chronic pain - Market size and forecast 2019-2024
- Nausea - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Increasing number of awareness campaigns
- Launch of medical marijuana education programs
- Increase in funding for research and production of medical marijuana
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Aphria Inc.
- Aurora Cannabis Inc.
- Cannabis Sativa, Inc.
- Canopy Growth Corp.
- Cronos Group Inc.
- GW Pharmaceuticals Plc
- mCig Inc.
- Medical Marijuana, Inc.
- United Cannabis Corp.
- Vivo Cannabis, Inc.
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.