1 / 6

U.S. medical marijuana market growth drivers in 2021 & Challenges by 2027

The Global U.S. medical marijuana market share report provides numbers for applications and regional segments of the industry covering historical as well as forecast data for decision makers.

Kiransable07
Download Presentation

U.S. medical marijuana market growth drivers in 2021 & Challenges by 2027

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. U.S. medical marijuana market trends research and projections for 2021- 2027 • A research study conducted by Global Market Insights, Inc., suggests that U.S. medical marijuana market is anticipated to cross $14.9 billion and depict a 10.5% growth rate through 2027. Strong prevalence of cancer is projected to give the U.S. medical marijuana market share an appreciable boost over the forecast spell. Chronic pain has become a major health issue among the U.S. population over the past years. In light of a current opioid epidemic, patients who are at high risks of chronic pain are also looking for alternative therapy for pain relief. • As per reliable estimates, 62% of the population consume medical cannabis as an effective treatment against chronic pain, while 2.1 million Americans consume different types of medical marijuana for treating various medical conditions and symptoms. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  2. Apart from chronic pain, medical marijuana has been gaining widespread adoption to treat chronic conditions like cancer. Several formulations of the product are currently approved for use against cancer-related pain and chemotherapy-induced nausea. This growing awareness about medical marijuana benefits will contribute to the significant expansion of the regional industry over the forthcoming years. • With regards to the application spectrum, the pain management segment registered $5.5 billion of the U.S. medical marijuana industry revenue in 2020, as the pain condition is a prominent health issue among the regional population. According to the NHIS (National Health Interview Survey), over 25 million individuals in the United States suffer from pain per day. The segmental growth can further be credited to the exponential use of marijuana for pain management and other medicinal purposes. • In terms of segmentation by route of administration, the topical segment was valued at $374.6 million in 2020 and is poised to exhibit an 11.2% CAGR through 2027, due to the robust product demand for treating numerous skin related diseases like eczema and psoriasis, coupled with its mounting usage as an alternative to steroids. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  3. Request for a Sample Copy of this Report @ https://www.gminsights.com/roc/2890 © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  4. Regional Analysis • The Pacific Central medical marijuana market is set to register a CAGR of 8.7% through 2027, which is attributable to the growing product applications as well as its legalization in major regions like California. The regional industry growth is further stimulated by the mounting number of patients and dispensaries in California. Rising shift towards adult-use cannabis since the legalization of the recreational use of the product may, however, impede regional market share to some extent in the foreseeable future. • Competitive Analysis • The competitive landscape of the U.S. medical marijuana market consists of companies such as Aurora Cannabis, Inc., United Cannabis, Emerald Health Therapeutics, Tilray, GW Pharmaceuticals, Medical Marijuana, Inc., and Canopy Growth, among others. These companies are focusing on varied strategies like M&A and business expansions to consolidate their market position. To illustrate, in December 2020, Canada-based Tilray and Aphria announced plans to merge in an all-stock agreement to establish the largest cannabis company across the globe. Request for Customization @ https://www.gminsights.com/roc/3358 © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  5. Latest Research Report On U.S. medical marijuana Market @ https://www.gminsights.com/industry-analysis/us-medical-marijuana-market Request for sample of this research report @ https://www.gminsights.com/request-sample/detail/289 Request for customization: https://www.gminsights.com/roc/2890 © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  6. Stay In Touch You can visit us at: www.gminsights.com Thank You…! © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com www.gminsights.com

More Related