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Medical Marijuana Market Is Expected To Reach US$ 57,582.5 Mn By 2026

The purpose of the report is to illustrate the state of the market of Specialty Fats and Oils, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.

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Market Insights

Cannabionoids are natural extracts derived from Cannabis sativa, Cannabis indica and Cannabis ruderalis. For centuries marijuana has been used extensively for recreational, medical and ritualistic purposes. It comprises of psychoactive drug component tetrahydrocannabinol which causes the stimulation of the cannabinoid receptor CB1 and CB2 respectively. The activation of these receptors results in pain relieving activity in patients suffering with chronic pain due to AIDS, cancer, neuropathic pain etc., In the last decade marijuana has been a keen research subject for researchers and academicians throughout the globe to understand its therapeutic benefits in treating anorexia and nausea. Positive steps have been taken by healthcare and law enforcing agencies to legalize the production and sale of marijuana for medicinal purpose. Tremendous focus is laid in drafting guidelines for the judicious use of marijuana in healthcare centers. Nowadays marijuana is available as weed infused gums, tampons, cannabinoid infused tea, bath salts, cannabinoid infused coffee and topical balms to get relief from pain.

Cancer is currently dominating the applications segment on account of large patient pool suffering with chronic pain and nausea during chemotherapy. Marijuana have been found beneficial in treating patients with neurological disorders such as epilepsy, seizures etc., due to its sedative effects. Chronic pain will gain momentum due to increasing number of patients suffering with musculoskeletal disorders such as osteoarthritis, rheumatoid arthritis and other autoimmune diseases such as psoriasis and multiple sclerosis.

In the present scenario hospital pharmacies are dominating the point of sale segment on account of key parameters such as availability of medical marijuana at low cost and strict monitoring of cancer patients availing marijuana for treating chronic pain. Dispensaries will register good growth during the forecast period due to increasing number of patients suffering with anorexia and nausea and government permit to dispense marijuana on regular basis to patients suffering with chronic pain.

North America is the global leader in medical marijuana market owing to the rising prevalence of cancer and proactive policies implemented by USFDA legalizing the production and sale of marijuana for treating chronic pain. Germany has drafted regulatory guidelines for the use of marijuana for medicinal purpose which also serves as a gold standard for other European Union countries. Rest of the World serves as a lucrative market as it is the largest producer of marijuana in the world and regulatory agencies are taking proactive steps to legalize the production and sale of marijuana for therapeutic use.

The key players actively engaged in the production and sale of marijuana are AbbVie, Inc., CannaGrow Holdings, Inc., Canopy Growth Corporation, Inc., GW Pharmaceuticals, Plc. Insys Therapeutics, Inc., Novartis AG, Lexaria Corporation, Pfizer, Inc., Teva Pharmaceutical Industries Ltd., and United Cannabis Corporation.

Why was the report written?

This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Specialty Fats and Oils buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.

What is the current market landscape and what is changing?

Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.

The report on the market of Medical Marijuana contains:

Analysis and forecast of Specialty Fats and Oils market dynamics;

Analysis of domestic production, market shares of the main market players;

Analysis of exports and imports;

Analysis of factors, leading the development of the Specialty Fats and Oils market;

Assessment and forecast of Specialty Fats and Oils market development;

Financial and business profiles of the leading companies in the Specialty Fats and Oils industry.

Scope

– Up to date working Specialty Fats and Oils data by major regions in the world, the forecast of planned capacity additions by 2026

– The annual breakdown of capital expenditure spending on proposed Specialty Fats and Oils for the period 2018 to 2026

– Planned Specialty Fats and Oils additions and capital expenditure spending by key countries and companies across the world

– Planned capital expenditure spending on new Specialty Fats and Oils projects by region, key countries, and companies

– Details of major planned Specialty Fats and Oils projects in the world up to 2026

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