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Medicinal Marijuana Industry Forecasted $110.7 Mn Growth by 2026 | A report by Canopy Growth Corporation Aurora Cannabis, Medmen, Terra Tech Corp, Aphria Inc., Vivo Cannabis, Chronos Group, Medical Marijuana and others

Medicinal Marijuana Industry report is an in-depth analysis of the current status of the pharmaceutical industry. This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It further includes profiles of leading companies and brands that are driving the market with their recent developments, product launches, joint ventures, mergers, and accusations.  The medicinal marijuana industry report gives a deep insight into the market definition, classifications, applications, engagements, and market trends while showing the CAGR levels for the Forecast years 2019-2026. A SWOT analysis is used to find the market drivers and restraints.

Market Analysis:

Medicinal Marijuana market is expected to rise from its initial estimated value of USD 13.4 million in 2018 to an estimated value of USD 110.7 million by 2026, registering a CAGR of 32.2% during the forecast period of 2019-2026. This rise in market value can be attributed to rising need of plant protein amid rising amount of health concerns and veganism worldwide.

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Key Competitors:

  • Canopy Growth Corporation Aurora Cannabis
  • Medmen
  • Terra Tech Corp
  • Aphria
  • Vivo Cannabis
  • Chronos Group
  • Medical Marijuana
  • Stenocare
  • Tikun Olam
  • Organigrams Holding
  • Cannabis Science
  • Maricann Group
  • Tilray
  • Hexo
  • Scotts Miracle-Gro
  • GW Pharmaceuticals PLC
  • MedReLeaf
  • Insys Therapeutics
  • CanniMed Therapeutics
  • Cara Therapeutics

Key Developments in the Market:

  • In December 2017, Health Canada provided licenses to two Quebec based cannabis production facilities.
  • November 2017, Ohio Department of Commerce provided 12 provisional large-scale medical cannabis cultivation licenses.

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Market Drivers & Restraints:

  • Growing medicinal application of cannabis
  • Increasing legalization of cannabis
  • Complex regulatory structure for the usage of cannabis

Segmentation:

Product Type

  • Flower
  • Concentrates

Application

  • Medical
  • Recreational

Compound

  • Tetrahydrocannabinol (THC)-Dominant
  • Cannabidiol (CBD)-Dominant
  • Balanced THC & CBD
  • and more

Competitive Analysis:

Global Medicinal Marijuana market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cannabis market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

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