U.S. Medical Marijuana Market Analysis

U.S. Medical Marijuana Market Analysis

U.S. medical marijuana market from pain management segment was over USD 7 billion in 2021. Rising incidences of neuropathic and chronic pain cases in the U.S. has accelerated the need for novel therapeutic options. According to data provided by the CDC, more than 20% of American adults live with chronic pain. Marijuana is seen as a potential alternative to traditional chronic pain medication.
 

Studies suggest that medical marijuana may be a good treatment option for people with fibromyalgia as it contains compounds that could offer relief from some of its symptoms. Patients of fibromyalgia may experience pain and headaches along with several other indications. Government efforts to legalize the substance for medical purposes will enable its use in the production of novel chronic pain medications.
 

In terms of the distribution channel, the U.S. medical marijuana market is bifurcated into dispensaries, and online platforms. The dispensaries segment is projected to exhibit a 10% CAGR between 2022-2030. Several U.S. states are allowing patients to purchase medical marijuana products from authorized local dispensaries. Authorized procurement and sale of cannabis-infused medical products helps the local governments to effectively check whether the distribution is performed legally. Increasing initiatives in favor of marijuana legalization will enable the deployment of authorized dispensaries in the country.
 

South Atlantic U.S. medical marijuana market is poised to surpass USD 3 billion by 2030. Significant progress in the patient population across the state will fuel the demand for suitable CBD products. A favorable licensing scenario is accelerating cannabis production across South Atlantic. Increasing awareness regarding the health benefits of the substance will further drive the sales of medical marijuana across South Atlantic U.S.