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What are the Key Projections for the CAGR of the Cannabis Pharmaceuticals Market From 2025 to 2034?

The industry of pharmaceutical-grade cannabis has experienced a significant expansion in size over recent years. From standing at $6.03 billion in 2024, this market is projected to surge to $9.45 billion in 2025, at a Compound Annual Growth Rate (CAGR) of 56.66%. The considerable growth observed in the historic period has been driven by a number of factors, including the increasing prevalence of chronic and neurological conditions, the spreading legalization of medical cannabis, growing awareness of the health benefits associated with cannabinoids, supportive regulatory guidelines, increased pharmaceutical sector investment, and a societal shift in attitude towards the usage of cannabis within the healthcare sector.

Expectations are high for substantial expansion in the cannabis pharmaceuticals market size in the coming years. It is predicted to escalate to a worth of $56.37 billion by 2029, with a compound annual growth rate (CAGR) of 56.29%. The predicted growth in this period is connected to rising regulatory acceptance, increasing recognition of the advantages of medical cannabis, broadening use in managing pain and neurological disorders, increasing incidence of chronic diseases, innovations in systems for drug delivery, and the introduction of supportive reimbursement policies. The forecast period will also feature trends such as advancements in technology for cannabinoid extraction, evolution of focused drug delivery systems, incorporation of synthetic cannabinoid formulations, enhancements in clinical trial strategies, and applying artificial intelligence in the discovery of drugs.

How Are the key drivers Contributing to the Expansion of the Cannabis Pharmaceuticals Market?

The escalating prevalence of epilepsy is anticipated to catalyze the growth of the cannabis pharmaceuticals market in the future. Epilepsy is a neurological condition defined by repeated, spontaneous seizures initiated by atypical electric activity within the brain. The growth in epilepsy instances can be attributed to improved diagnosis procedures, heightened awareness, augmented reporting, in conjunction with potential environmental, genetic, and lifestyle factors. Cannabis pharmaceuticals have exhibited promise in managing epilepsy symptoms by employing cannabinoids like CBD to lessen the frequency and intensity of seizures in patients who are unresponsive to conventional anti-epileptic medication. For example, in April 2022, the Belgium-based non-profit organization, the European Brain Council disclosed that a whopping 600 neurological diseases and close to 300 psychiatric conditions afflict millions globally, including 65 million suffering from epilepsy. Furthermore, in July 2024, according to estimates by the Alzheimer Society of Canada, a Canadian health charity, approximately 771,939 Canadians are projected to be living with dementia on January 1, 2025, and this figure is forecasted to swell to almost one million by 2030. Hence, the spiking incidence of epilepsy is fueling the expansion of the cannabis pharmaceuticals market.

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What Are the Key Industry Players Leading the Charge in the Cannabis Pharmaceuticals Market’s Growth?

Major companies operating in the cannabis pharmaceuticals market are:

• Curaleaf Holdings Inc._x000D_

• Aphria Inc._x000D_

• Green Thumb Industries Inc._x000D_

• Trulieve Cannabis Corp._x000D_

• Tilray Inc._x000D_

How Are Market Trends and Shifts Impacting the Growth Trajectory of the Cannabis Pharmaceuticals Market?

Leading corporations in the cannabis pharmaceuticals market are honing their focus on the creation of novel products, such as cutting-edge medical cannabis formulations, which aim to cater to various medical conditions and boost patient results. The term ‘advanced medical cannabis formulations’ is allocated to cannabis-infused products specifically crafted for therapeutic applications, inclusive of controlled doses of vital cannabinoids like THC and CBD. To illustrate, Canexis Pharma AG, a pharmaceutical company based in Switzerland, earned manufacturing and narcotics licenses from Swissmedic for their cannabis pharmaceuticals in April 2024. These licenses grant Canexis the authority to create superior medicinal active ingredients that are derived from CBD and THC, thus serving the escalating demand for medical cannabis on a national and international scale. By achieving these licenses, Canexis declares its adherence to rigorous regulatory standards, thereby enhancing its reputation and capacity to offer significant contributions to the fast-paced evolution of the medical cannabis market.

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Which Growth-Oriented Segments of the Cannabis Pharmaceuticals Market Are Leading the Industry’s Development?

The cannabis pharmaceuticals market covered in this report is segmented –

1) By Product Type: Cannabinoid-Based Pharmaceuticals, Cannabis Extracts, Synthetic Cannabinoids

2) By Formulation Type: Capsules And Tablets, Oils And Tinctures, Topical Solutions

3) By Therapeutic Application: Cancer, Neurological Disorders, Pain Management

4) By Distribution Channel: Hospital Pharmacies, Online Pharmacies, Retail Pharmacies

5) By End-User: Hospitals And Clinics, Rehabilitation Centers, Research Organizations

Subsegments:

1) By Cannabinoid-Based Pharmaceuticals: THC-Based Pharmaceuticals, CBD-Based Pharmaceuticals, Combination of THC and CBD Pharmaceuticals, Other Cannabinoid-Based Formulations

2) By Cannabis Extracts: Full-Spectrum Cannabis Extracts, Broad-Spectrum Cannabis Extracts, Isolate Cannabis Extracts (CBD Isolate)

3) By Synthetic Cannabinoids: Synthetic THC Analogues, Synthetic CBD Analogues, Synthetic Cannabinoid Receptor Agonists, Designer Synthetic Cannabinoids

What Regions Are Influencing the Dynamics of the Cannabis Pharmaceuticals Market?

North America was the largest region in the cannabis pharmaceuticals market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cannabis pharmaceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Key Elements Shape the Definition of the Cannabis Pharmaceuticals Market?

Cannabis pharmaceuticals are prescription-grade medications made from cannabis-derived compounds, designed to address particular health conditions and produced under strict clinical and regulatory standards. These pharmaceuticals utilize the therapeutic benefits of cannabinoids, such as tetrahydrocannabinol (THC) and cannabidiol (CBD), to treat conditions including chronic pain, epilepsy, and multiple sclerosis.

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