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MEDICINAL CANNABIS MARKET- GLOBAL INDUSTRY INSIGHTS, TRENDS, OUTLOOK, AND OPPORTUNITY ANALYSIS, 2016-2024

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According to the United Nations, marijuana was the most widely used drug globally in 2014, with around 183 million users. Such a large user base makes it highly lucrative taxable opportunity, which is influencing various governments worldwide to ini
MEDICINAL CANNABIS MARKET- GLOBAL
INDUSTRY INSIGHTS, TRENDS, OUTLOOK, AND
OPPORTUNITY ANALYSIS, 2016-2024
[DATE]
[COMPANY NAME]
[Company address]
Report Description
Medicinal cannabis, also known as medicinal marijuana, is used either to treat disease or improve
symptoms. Cannabis has been considered to be a major source of drug addiction. Extract from the dried
flower bud part of the plant called as Marijuana has certain medicinal properties. The two cannabinoids delta-9-tetrahydrocannabinol (THC) and cannabidiol (CBD) are being used in treatment of certain
disease or health conditions such as pain, blood pressure, memory, concentration, appetite, sensory
stimulus, muscular problems, and seizures.
Medicinal Cannabis Market Dynamics
However, the debate still continues regarding the approval, safety and usage of cannabis (marijuana) for
medicinal purpose, due to differences in the laws pertaining to this smoked drug. Hence, studies are
conducted extensively to establish the safety aspect of this drug. Various states in the U.S. have already
legalized cannabis (marijuana) for medicinal purposes. Scientific research of chemicals in the cannabis
plant for its potential medicinal use has led to a shift in its demand purpose. Regulatory clearance has
played a major role in the growth of medicinal cannabis market.
Browse This Report: https://www.coherentmarketinsights.com/ongoing-insight/medicinalcannabis-market-40
Other names of Cannabis - grass, pot, dope, Mary Jane, hooch, weed, hash, joints, brew, reefers,
cones, smoke, mull, buddha, ganga, hydro, yarndi, heads, and green.
The U.S. FDA has approved two medications, Marinol and Syndros, which contain dronabinol in pill
form. However, the FDA has not approved the marijuana plant as a medicine. The medicinal cannabis
(marijuana) is administered in either of the ways – liquid extract, vaporized form, smoked or solid form.
Prevalent Scenario in the Medicinal Cannabis Market
According to the Medical Marijuana, Inc., the estimated size of the legal marijuana industry in the U.S. is
US$ 7.1 billion in 2016. This is an increase of 25% Y-o-Y. As of 2016, 28 states in the U.S. have
legalized marijuana for medicinal purpose with some more gearing up for votes on the recreational use
of marijuana. California, Nevada, Maine, and Massachusetts states in November 2016, voted to legalize
the medicinal use of marijuana. The accelerated pace of legalization of cannabis (marijuana) in the U.S.
has attracted the attention of global investors in the medicinal cannabis market. However, lack of
formulation of a comprehensive law pertaining to medicinal marijuana in some states inhibits patient
access to the drug.
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Important role of Regulatory Authorities in the Medicinal Cannabis Market Trend
According to the United Nations, marijuana was the most widely used drug globally in 2014, with around
183 million users. Such a large user base makes it highly lucrative taxable opportunity, which is
influencing various governments worldwide to initiate studies regarding legalization of the drug for
medicinal use. The National Institute on Drug Abuse is still conducting research on cannabis (marijuana)
to treat numerous diseases and conditions such as autoimmune disease, pain, inflammation, seizures,
mental disorders, and substance abuse disorders. Regulatory compliance is a key factor that influences
cost, quality, and safety of cannabis (marijuana) medicines, as well as the capacity for the
manufacturers in the medicinal cannabis market to be responsive, scalable, and innovative.
Medicinal Cannabis Market Future Outlook
Potential medicinal cannabis markets other than the U.S., include Canada, Israel, Australia, and Spain.
Mexico is also in process to consider the legalization of cannabis. Other countries are expected to
consider legalization of the drug, once conclusive evidence regarding the safety and efficacy of cannabis
are obtained through extensive research. According to Arcview Group—a cannabis industry investment
and research firm—around 200 investors met companies to capitalize on lucrative opportunities from
commercialization of medicinal cannabis. This implies that there is a huge potential in the medicinal
cannabis market and pharmaceutical and biotechnology companies need to focus on increasing
awareness about the drug emerging economies.
About Us
COMPANY OVERVIEW
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting
our plethora of clients achieve transformational growth by helping them make critical business decisions.
We are headquartered in India, having office at global financial capital in the U.S. Our client base includes
players from across all business verticals in over 150 countries worldwide. We are uniquely positioned to
help businesses around the globe deliver practical and lasting results through various recommendations
about operational improvements, technologies, emerging market trends and new working methods. We
offer both customized and syndicated market research reports that help our clients create visionary growth
plans to provide traction to their business. We meticulously study emerging trends across various
industries at both the global and regional levels to identify new opportunities for our clientele. Our global
team of over 100 research analysts and freelance consultants provide market intelligence from the very
molecular country level and also provide a global perspective of the market. Our team is of the most vital
cog in our robust machinery that gives us the ability to deliver independent insight relying on our cognitive
defusion training module.This allows for an objective and unbiased assessment of the market. We pride
ourselves in my constantly striving to update our extremely in-depth understanding of the market by
closely monitoring and analyzing markets, trends, and emerging best practices, across allfathomable
industries under the sun. This enables us to equip our valued clientele with key decisive inputs to capitalize
on lucrative growth opportunities in the market and to follow firmly position themselves on a high growth
path in the future.
Contact Us
CORPORATE OFFICE:
Coherent Market Insights
303, Astral Court,Above Reliance Fresh,
Near Gaikwad Petrol Pump,
Aundh, Pune – 411045, India
[email protected]
Author
siddheshmohite1997
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