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What fueled the previous growth in the medical marijuana market?

In recent times, there has been significant growth in the size of the medical marijuana market. With a compound annual growth rate (CAGR) of 20.9%, it is anticipated to rise from $32.96 billion in 2024 to $39.85 billion in 2025. The historic surge can be traced back to various factors including modifications in regulatory frameworks, increasing acceptance of medical cannabis, a growing number of health conditions being considered for treatment with cannabis, patients’ demand for alternative treatment methods, and shifting standpoints of healthcare providers.

What will be the medical marijuana market size in the future?

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What main drivers are fueling expansion in the medical marijuana market?

The escalating incidence of cancer is anticipated to propel the demand for the medical marijuana market in the future. Cancer is a condition characterized by the uncontrolled growth of certain body cells that then invade other parts of the body. Medicinal cannabis is known to alleviate a variety of symptoms experienced by cancer patients such as neuropathy, nausea, discomfort, vomiting, appetite, and weight loss. For example, the World Health Organization, a specialized Switzerland-based agency overseeing international public health, forecasted in February 2024 that by 2050, over 35 million new cancer cases are expected, representing a 77% rise from the predicted 20 million cases in 2022. This indicates that the surging incidence of cancer will fuel the expansion of the medical marijuana market.

What key areas define the segmentation of the global medical marijuana market?

The medical marijuana market covered in this report is segmented –

1) By Product: Dried Flower, Extract Form

2) By Type: Flower, Concentrate, Edibles, Other Types

3) By Application: Pain Management, Tourette Syndrome, Alzheimer’s disease, Migraines, Depression And Anxiety, Multiple Sclerosis, Cancer, Other Applications

4) By Distribution Channel: Retail Pharmacy, E-Commerce, Other Distribution Channels

Subsegments:

1) By Dried Flower: Indica Strains, Sativa Strains, Hybrid Strains

2) By Extract Form: Oils, Tinctures, Concentrates, Edibles

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Who are the dominant players expanding their reach in the medical marijuana market?

Major companies operating in the medical marijuana market include Pfizer Inc., Curaleaf Holdings Inc., Trulieve Cannabis Corp, Green Thumb Industries GTI Inc., Cresco Labs Inc., Tilray Inc, Aphria Inc., Canopy Growth Corporation, Jushi Holdings Inc., TerrAscend Corp, Aurora Cannabis Inc., HEXO Corp, MedMen Enterprises Inc., Organigram Holdings Inc., Charlotte’s Web Holdings Inc., Vireo Health International Inc., Medical Marijuana Inc., Cara Therapeutics Inc., VIVO Cannabis Inc., Valens GroWorks Corp, Green Relief Inc., Harborside Inc., MediPharm Labs Inc., Tikun Olam Cannbit Ltd., Emerald Health Therapeutics Inc., MedReleaf Corporation, GB Sciences Inc., CanniMed Therapeutics Inc., The Cronos Group Inc., Planet 13 Holdings Inc.

How are evolving market trends shaping medical marijuana Strategies?

In the medical marijuana market, prominent businesses include Pfizer Inc., Curaleaf Holdings Inc., Trulieve Cannabis Corp, Green Thumb Industries GTI Inc., Cresco Labs Inc., Tilray Inc, Aphria Inc., Canopy Growth Corporation, Jushi Holdings Inc., TerrAscend Corp, Aurora Cannabis Inc., HEXO Corp, MedMen Enterprises Inc., Organigram Holdings Inc., Charlotte’s Web Holdings Inc., Vireo Health International Inc., Medical Marijuana Inc., Cara Therapeutics Inc., VIVO Cannabis Inc., Valens GroWorks Corp, Green Relief Inc., Harborside Inc., MediPharm Labs Inc., Tikun Olam Cannbit Ltd., Emerald Health Therapeutics Inc., MedReleaf Corporation, GB Sciences Inc., CanniMed Therapeutics Inc., The Cronos Group Inc., Planet 13 Holdings Inc. They are the key players in the industry.

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Which regions are emerging as leaders in the medical marijuana market?

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

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