Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
Key Emerging Trends in the Medical Cannabis Market
Numerous private and government organizations, along with industry leaders, are actively supporting research and development (R&D) efforts focused on cannabinoids for medical purposes. These cannabinoids, derived from the cannabis plant, possess various medicinal properties that can be utilized to treat a range of diseases. The National Institute of Drug Abuse reported that in 2017, the National Institute of Health (NIH) allocated significant support to 330 projects, investing a total of USD 140 million in cannabinoid R&D. Notably, USD 36 million went towards 70 projects exploring the therapeutic properties of cannabinoids, and an additional USD 15 million supported 26 projects specifically centered on cannabinoid cannabidiol (CBD). The increasing financial backing from key agencies is anticipated to contribute to the overall expansion of the medical cannabis market in the foreseeable future. Even in Singapore, known for having some of the world's strictest drug laws, there is a notable commitment to funding research projects related to medical treatments containing synthetically derived compounds from the cannabis plant. In 2017, the National Research Foundation, a government-run organization, initiated a program to investigate the therapeutic potential of cannabinoids. With the heightened emphasis on research and development in pharmaceutical companies, there is now the possibility of developing CBD compounds synthetically in laboratories without the need to grow the cannabis plant. For example, STI Pharmaceuticals, a UK-based company, is actively involved in cannabinoid research and manufactures synthetic CBD compounds through collaborative efforts. Zynerba Pharmaceuticals, Inc., another pharmaceutical company, is developing a synthetic transdermal cannabidiol named Zygel (ZYN002 CBD Gel) for the treatment of focal epilepsy in adults. Examining investment trends in the cannabis industry provides further insights. PitchBook data analyzing 351 venture capital-backed deals related to cannabis companies in 2019 revealed a total investment of USD 3.2 billion. However, this figure declined to USD 1.4 billion in 2020. Similarly, Crunchbase data indicated that venture capitalists invested USD 1.9 billion in 178 cannabis-related companies in 2019, with a significant 60% decrease in investments in 2020. As of April 2021, investments amounted to USD 357 million in 29 companies. Venture capitalists and strategic investment firms are now directing their focus towards increasing investments in medical cannabis companies. For instance, Medicinal Organic Cannabis Australia, established in 2017, offers investment opportunities in the cannabis industry and has agreements with leading global suppliers of organic medical cannabis for supply and wholesale. Northern Leaf (US), a Jersey-based medical cannabis cultivator, successfully raised approximately USD 20 million in 2021. The recent changes by the Financial Conduct Authority allowing medicinal cannabis companies to list on the London Stock Exchange have led to increased activity in the UK market. Notable acquisitions, such as Jazz Pharmaceuticals (Ireland) acquiring the UK-based pharmaceutical firm GW Pharma, specializing in cannabis-derived treatments for epilepsy in May 2021, have reshaped the market structure. The ongoing investment activities across the cannabis industry are anticipated to drive the growth of the medical cannabis market size in the coming years. Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Improving status of cannabis in Asian and African countries |
| Market Dynamics | Growing research and development activities and financial support by various private and government organizations for cannabis research Rising prevalence of chronic diseases and other medical conditions |
Medical Cannabis Market Highlights:
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
