A new report added to the online directory of the Wise Guys Reports (WGR) reveals that the Global Medicinal Cannabis Market is expected to register compound annual growth rate (CAGR) of 19.4% during the year 2019-2024. The Global Medicinal Cannabis Market for the year 2018 was estimated to be USD 13.8 billion. It is expected to reach USD 40.9 billion by the year 2024.
There is an increase in the application of Cannabis-derived medicines to control various difficult diseases such as cancer, neurological disorders, Parkinson’s disease, etc. Research has shown that Medicinal Cannabis helps in controlling the pain. Medicinal Cannabis is given only under a registered physician. Government health programs look after the distribution process.
The latest report found on WGR, on the global Medicinal Cannabis market has mentioned several noteworthy players ruling the Medicinal Cannabis market. This list includes various prevalent vendors as well as new entrants.
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The key manufacturers are
Greenwich
Abbvie
Insys therapeutics
Valeant pharmaceuticals
Tilray
Corbus pharmaceuticals
Aphria
Manitoba Harvest
Phytokann
Botanical Genetics
Jinzhou Qiaopai Biotech.
Global Medicinal Cannabis Market: Segmental Analysis
The analysis of the market shows three major categories. They are namely types, application, and region.
According to the product type, the market segment is of Oral medications and Topical medications.
On the application front, the market segment includes three main sections, which are Hospitals, Clinics, and Medical research centers.
Global Medicinal Cannabis Market: Regional Analysis
As per the regional analysis, the market is sub-divided into North America, South America, Asia- Pacific (APAC), Europe, and Other countries. In North America countries there are Canada, the United States of America, and Mexico. If we go by the market reports, the North American countries are going to capture the largest of all. In South American countries there are Argentina and Brazil. Among the APAC, there are countries such as China, Japan, and Korea. In these regions, there is good growth potential in the coming years. In South-East Asian countries, there are Australia and India. Among these countries, Australian Medicinal Cannabis market shows maximum surge due to increased research and government initiatives. In European countries, there are France, Germany, Italy, Russia, Spain, and the UK. Their contribution to the global market is going to increase during the forecasted years. Other countries, there are Middle-east nations and African nations such as Egypt, South Africa, Israel, Turkey, and the Gulf Cooperation Council (GCC). Here, also there is an expected growth during the projection period.
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