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U.S. Medical Cannabis Market Size

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The medical marijuana market is at the nascent stage of development and is expected to grow significantly during the forecast period owing to rising consumer demand.
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U.S. Medical Cannabis Market Share, Size, Analysis, Growth,
Regional Outlook, Trends and Forecasts to 2024 | Hexa Research
"U.S. Medical Cannabis Market Size Worth USD 19.48
Billion By 2024."
The U.S. Medical Cannabis Market is expected to be valued at USD 19.48 billion by 2024, driven by its
numerous medical benefits particularly by patients suffering from cancer, chronic pain and diabetes.
Favorable regulatory environment across numerous states including California and Colo rado is expected to
fuel the growth of the market over the next few years.
Medical Marijuana Regulation and Safety Act implemented in 2015 permits the cultivation and use of
cannabis dispensaries at the state and local level which has been one of key drivers to fuel the U.S market.
The rising number of states receiving approval to utilize cannabis for consumption in medical cases is
expected to be one of the crucial factors to upsurge the demand for medical marijuana over the forecast
period.
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Over the past few decades, there have been several controversies surrounding legalization of cannabis for
medical purposes; however, increasing signs of medical benefits received from the consumption of cannabis
has resulted in the herb being legalized across various states in the nation. The industry is expected to
witness significant growth during the forecast period owing to greater consumer acceptance along with an
increasing number of companies entering the market.
The symptoms and conditions that can be treated by the herb include cancer, arthritis, epilepsy, nausea, pain
Alzheimer’s disease, anorexia, AIDS, HIV, glaucoma, cachexia, Crohn’s disease, migraines, and multiple
sclerosis. Chronic pain accounted for 46% of the U.S. cannabis medical market share i n 2016. The ability of
medical marijuana to curb pain is expected to gain popularity among patients diagnosed with chronic
illnesses and pain.
In 2016, solid edibles segment dominated the U.S market generating revenues worth USD 2.47 billion and is
expected to continue dominating the industry over the forecast period. The future product innovation and
potential growth are substantial owing to continuous development from the consumption of cannabis infused
products owing to their numerous applications including lotions, bath salts, shampoo, lip balm, toothpaste,
coffee pods, baked brownies cookies, candy, confectioneries, beverages, vinegar and oils.
California is known to be the first state in U.S. that legalized cannabis for medical purpose. In 2016, Cali fornia
recorded the highest revenue generation and is expected to grow at a CAGR of 13% over the projected
period. Over the next few years, more number of state governments are expected to legalize cannabis owing
to its numerous benefits which will fuel its growth over the projected period.
Hexa Research has segmented the U.S. medical cannabis market based on usage, consumption and state:
Segmentation by usage, 2014 - 2024 (USD Million)
• Chronic Pain
• Arthritis
• Migraine
• Cancer
• Others
Segmentation by consumption, 2014 - 2024 (USD Million)
• Solid Edibles
• Inhalation
• Liquid Edibles
• Topical
Segmentation by state, 2014 - 2024 (USD Million)
• California
• Colorado
• Washington
• Arizona
• Michigan
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Key players analyzed
• American Cannabis
• Canopy Growth Corporation
• Greengro Technologies
• Medical Marijuana Inc.
• United Cannabis
• Terra Tech Corp.
• Mentor Capital, Inc
• Cannabis Sativa, Inc.
• GBSciences, Inc.
• The Green Solution
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Table of Content of U.S. Medical Cannabis Market
Chapter 1. Market Summary
1.1. Market trends & movement
Chapter 2. U.S. Medical Cannabis Market Trends: Drivers & Opportunities
2.1. Introduction
2.2. Key industry trends
2.3. Market drivers
2.4. Market restraints
2.5. Value chain analysis
2.6. Porter's Five Forces analysis
2.7. SWOT
Chapter 3. U.S. Medical Cannabis Market Trends, By Usage
3.1. U.S. Medical Cannabis market movement, by usage, 2016 & 2024
3.1.1. Chronic Pain
3.1.1.1. Market estimates and forecast, 2014 - 2024 (USD Million)
3.1.2. Arthritis
3.1.2.1. Market estimates and forecast, 2014 - 2024 (USD Million)
3.1.3. Migraine
3.1.3.1. Market estimates and forecast, 2014 - 2024 (USD Million)
3.1.4. Cancer
3.1.4.1. Market estimates and forecast, 2014 - 2024 (USD Million)
3.1.5. Others
3.1.5.1. Market estimates and forecast, 2014 - 2024 (USD Million)
Chapter 4. U.S. Medical Cannabis Market Trends, By Consumption
4.1. U.S. Medical Cannabis market movement, by consumption, 2016 & 2024
4.1.1. Solid edibles
4.1.1.1. Market estimates and forecast, 2014 - 2024 (USD Million)
4.1.2. Inhalation
4.1.2.1. Market estimates and forecast, 2014 - 2024 (USD Million)
4.1.3. Liquid edibles
4.1.3.1. Market estimates and forecast, 2014 - 2024 (USD Million)
4.1.4. Topical
4.1.4.1. Market estimates and forecast, 2014 - 2024 (USD Million)
Chapter 5. U.S. Medical Cannabis Market Trends, By State
5.1. U.S. Medical Cannabis market movement, by state, 2016 & 2024
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5.1.1. California
5.1.1.1. Market estimates and forecast, 2014 - 2024 (USD Million)
5.1.2. Colorado
5.1.2.1. Market estimates and forecast, 2014 - 2024 (USD Million)
5.1.3. Washington
5.1.3.1. Market estimates and forecast, 2014 - 2024 (USD Million)
5.1.4. Arizona
5.1.4.1. Market estimates and forecast, 2014 - 2024 (USD Million)
5.1.5. Michigan
5.1.5.1. Market estimates and forecast, 2014 - 2024 (USD Million)
Chapter 6. Competitive Landscape
6.1. Competitive landscape analysis, 2016
6.2. Strategic framework
6.3. Potential customer base concentration
6.4. Company market positioning
6.5. Company profiles
6.5.1. American Cannabis
6.5.1.1. Company Overview
6.5.1.2. Product Benchmarking
6.5.1.3. Financial Performance
6.5.1.4. Recent Initiatives
6.5.2. Canopy Growth Corporation
6.5.2.1. Company Overview
6.5.2.2. Product Benchmarking
6.5.2.3. Financial Performance
6.5.2.4. Recent Initiatives
6.5.3. Greengro Technologies
6.5.3.1. Company Overview
6.5.3.2. Product Benchmarking
6.5.3.3. Financial Performance
6.5.3.4. Recent Initiatives
6.5.4. Medical Marijuana Inc.
6.5.4.1. Company Overview
6.5.4.2. Product Benchmarking
6.5.4.3. Financial Performance
6.5.4.4. Recent Initiatives
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6.5.5. United Cannabis
6.5.5.1. Company Overview
6.5.5.2. Product Benchmarking
6.5.5.3. Financial Performance
6.5.5.4. Recent Initiatives
6.5.6. Terra Tech Corp.
6.5.6.1. Company Overview
6.5.6.2. Product Benchmarking
6.5.6.3. Financial Performance
6.5.6.4. Recent Initiatives
6.5.7. Mentor Capital, Inc
6.5.7.1. Company Overview
6.5.7.2. Product Benchmarking
6.5.7.3. Financial Performance
6.5.7.4. Recent Initiatives
6.5.8. Cannabis Sativa, Inc.
6.5.8.1. Company Overview
6.5.8.2. Product Benchmarking
6.5.8.3. Financial Performance
6.5.8.4. Recent Initiatives
6.5.9. GBSciences, Inc
6.5.9.1. Company Overview
6.5.9.2. Product Benchmarking
6.5.9.3. Financial Performance
6.5.9.4. Recent Initiatives
6.5.10. The Green Solution.
6.5.10.1. Company Overview
6.5.10.2. Product Benchmarking
6.5.10.3. Financial Performance
6.5.10.4. Recent Initiatives
6.5.11. List of other vendors
Chapter 7. Methodology and Scope
7.1. Research methodology
7.2. Research Scope & Assumptions
7.3. List of data sources
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and consulting services to a host of key industries across the globe. We offer comprehensive business
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sara01.james
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