Global Medical #Marijuana (MMJ) Market to witness a CAGR of 19.1% during 2018-2024

NEW YORK - June 26, 2018 (Investorideas.com Newswire) The global medical marijuana market is expected to grow significantly from USD 8,280.6 million in 2017 to USD 28,070.0 million in 2024, at a CAGR of 19.1% from 2018 to 2024. Factors propelling the growth of medical marijuana market are; growing awareness regarding the benefits offered, increasing demand for marijuana in the treatment of various diseases, and growing number of research and development activities. Moreover, several clinical trials are underway which are expected to drive the market demand over the years to come.

The National Institute on Drug Abuse maintains detailed information on the therapeutic, as well as abusive aspects of marijuana. National Institutes of Health (NIH) provides funding to the researchers who are involved in exploring the therapeutic uses of medical marijuana. Recent studies have shown that marijuana extracts may be effective in the treatment of epilepsy.

Medical marijuana plant contains many chemical properties that may help in treating a wide range of diseases and symptoms. The medical marijuana plant has two major strains: cannabis sativa and cannabis indica. Cannabis sativas have a higher level of THC (delta-9 tetrahydrocannabinol) resulting in medical applications, which include control of nausea and vomiting, and stimulating appetite in AIDS patients. Cannabis indica contains a higher level of CBD (cannabidiol), resulting in treatment of symptoms such as muscle spasms, chronic pain, anxiety and sleep deprivation. The industry size for medical marijuana is increasing primarily in the U.S., and creating an opportunity for market players to earn high profit margins.

Global Medical Marijuana Market – Regional Insight

North America held the largest share of the global medical marijuana market in 2017, and is expected to show exponential growth rate during the forecast period. The growth in the region is primarily driven by the growing number of the U.S states legalizing the use of marijuana in the medical applications. Europe held the second largest share in the global medical marijuana market in 2017. Growing importance of cannabis sector, coupled with several legalization initiatives is likely to augment the market growth in the region.

Browse full research report with TOC on "Global Medical Marijuana Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024" at: https://www.energiasmarketresearch.com/global-medical-marijuana-market-outlook/

To purchase report: sales@energiasmarketresearch.com

Key findings from the report

• The global medical marijuana market is expected to reach USD 28,070.0 million by 2024 at CAGR of 19.1% from 2018-2024
• Based on application, the chronic pain segment held the major share of the global market in 2017, due to presence of chemical compounds in marijuana which aid in relieving pain
• Sativa type emerged as the largest segment in 2017, and is projected to maintain its dominance over the forecast period
• Based on the chemical derivatives, the CBD (cannabidiol) segment accounted for the largest share of the MMJ market, owing to increasing research and development activities, along with the growing demand in products such as capsules, tincture, gum, oil, and personal care products
• On the basis of end-use, the pharmaceutical industry held the maximum share of the market in 2017. The increasing demand for MMJ from the pharmaceutical industry is due to its usage in developing new drugs for medical treatment of patients
• The key players operating in the medical marijuana market are Cannabis Sativa, Inc; GW Pharmaceuticals PLC; United Cannabis Corporation; Corbus Pharmaceuticals; Insys Therapeutics, Inc.; Lexaria Corporation; Canopy Growth Corporation; Growblox Sciences, Inc; Aurora Cannabis; AXIM Biotechnologies Inc.; Medical Marijuana, Inc.; Arena Pharmaceuticals; and Cara Therapeutics
• As of March 2018, GW Pharmaceuticals, announced receipt of Notices of Allowance for five new Epidiolex patent applications to be listed in the approved drug products with Therapeutic Equivalence Evaluations (commonly known as the Orange Book), if the NDA for Epidiolex is approved. Once issued, these patents are set to expire in 2035. One or more patents may be eligible for additional patent term through patent term adjustment and/or regulatory exclusivities.

The report segments medical marijuana market on the basis of type, application, chemical derivatives, end use, and region.

By Type

• Sativa
• Indica
• Hybrid

By Application

• Glaucoma
• Inflammatory bowel diseases
• Chronic Pain
• Migraine
• Arthritis
• Anxiety
• Insomnia
• AIDS
• Others

By Chemical Derivatives

• THC
• CBD
  • CBD Capsules
  • CBD Tinctures
  • CBD Topicals
• Hybrid

By End-Use

• Pharmaceutical industry
• Research & development centres
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Central & South America (CSA)
• Middle East & Africa (MEA)

About Energias Market Research Pvt. Ltd.

Energias Market Research Pvt. Ltd. publishes high quality reports, in-depth market research studies, to help clients obtain investment level clarity on current business scenario, trends and segmentation for their future developments. We are committed to our client's needs, by providing high quality custom reports solutions best fit for strategy development and implementation to high return of invest (RoI). We believe that exceptional problems need expertise to solve, and with the help of our industries expertise we are able to offer an in depth understanding of what's crucial, what's applicable, and what it takes to ensure accomplishment in any business or venture.

With a wide range of expertise from various industrial sectors and more than 50 industries that includes energy, chemical and materials, information and communication technology, semiconductor and electronics industries, healthcare and daily consumer goods, etc. We strive to provide our clients with a one-stop solution for all research and consulting needs.

Contact:

Mr. Manas Nagi
Business Development Manager

For any queries email us: info@energiasmarketresearch.com
To purchase report: sales@energiasmarketresearch.com
Call us: +1-716-239-4915
Visit:
ttps://www.energiasmarketresearch.com

More Info:

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp