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Medical Marijuana Market Size, By Application (Pain Management {Neuropathic Pain, Cancer Pain}, Muscle Spasms, Nausea, Anorexia, Seizures), By Route of Administration (Inhalation, Oral, Topical), By Distribution Channel (Dispensaries, Online), COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI2836
  • Published Date: Feb 2023
  • Report Format: PDF

Industry Statistics

Medical Marijuana Market size was worth more than USD 42.5 billion in 2022 and is anticipated to record over 13% CAGR from 2023-2032. Rising legalization of medical marijuana worldwide is expected to complement the market expansion.

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The growing use of medical marijuana to treat multiple health conditions is expected to positively influence the industry outlook. In the last decade, the consumer awareness regarding the therapeutic significance of marijuana and cannabis products has increased substantially, subsequently promoting applications in pain management, and appetite enhancement. Medical marijuana has gained momentum as a promising treatment for chronic conditions. It is also used for patients undergoing treatment for HIV, chronic pain, or cancer to address post-treatment symptoms such as loss of appetite, nausea, and other side effects.

Introduction of strict federal laws may hamper medical marijuana market growth

The rising difficulties in banking the medical marijuana business could restrain the market growth. Despite numerous health benefits and medical applications, multiple governments are restricting the use of cannabis. For instance, in the U.S., cannabis remains illegal, and its cultivation and sale are, thus, prohibited by the federal law. The federal government manages all banks in the country, limiting access to hefty funds for the regional marijuana businesses. The dearth of accurate policies pertaining to cannabis production for marijuana companies may also impede the industry outlook. However, the increasing global efforts to legalize marijuana for medical applications will help overcome the current challenges.

Rising need for pain management to counter cancer burden to foster medical marijuana demand

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Medical marijuana market valuation from pain management applications crossed USD 32 billion in 2022. The rising prevalence of chronic diseases has accelerated the need for post-treatment management of side effects such as cancer pain, neuropathic pain, and others. The increasing number of R&D activities exploring the potential benefits of marijuana in the treatment of nausea, vomiting, and pain induced by chemotherapy will accelerate the product demand. The rising episode of cancer is also expected to proliferate the application scope of medical marijuana. According to the Indian Council of Medical Research (ICMR) report, cancer prevalence in India is projected to rise from 26.7 million in 2021 to more than 29.5 million in 2025.


Emerging telemedicine and telehealth trends to spur online sales of medical marijuana

Authors: Rupali Swain, Subodh Kharad

Frequently Asked Questions (FAQ) :

Global market size for medical marijuana was worth more than USD 42.5 billion in 2022 and is anticipated to register over 13% CAGR from 2023-2032.
Pain management applications exceeded USD 32 billion in 2022 due to increasing use among cancer patients suffering from the side effects of chemotherapy.
European market for medical marijuana is poised to reach over USD 95.5 billion by 2032 owing to growing efforts to legalize medical cannabis.
Jazz Pharmaceuticals, Cannabis Sativa, Inc., Tilray, Curaleaf, Green Roads, CHARLOTTE’S WEB, Gaia Herbs, and Folium Biosciences are some of the major firms operating in the medical marijuana business.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 10
  • Tables & Figures: 233
  • Countries covered: 18
  • Pages: 180
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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