The Europe medical cannabis market size reached USD 2,586.1 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 12,652.9 Million by 2033, exhibiting a growth rate (CAGR) of 18.33% during 2025-2033. The market is poised for significant growth with increase in legalization and expanding therapeutic applications of the product and the rising patient demand for cannabis. Technological advancements in cultivation and extraction technologies, strategic partnerships and growing investment in research and development (R&D) are also contributing positively to the market growth.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional and country levels for 2025-2033. Our report has categorized the market based on species, derivative, application, end use and route of administration.

In 2023, the medical cannabis market in Europe was valued at approximately 745 million U.S. dollars. In the following years, as more European countries will introduce legalization, the market is expected to increase significantly. Forecasts show that by 2027, the market could reach around 2.2 billion U.S. dollars.

In Europe Medical Cannabis Market is projected to grow from USD 9.8 billion in 2025 to USD 29.4 billion by 2031, at a CAGR of 20.4%

The global medicinal grade cannabis market is experiencing robust growth, driven by increasing legalization and acceptance of cannabis for therapeutic purposes, coupled with advancements in research and development of cannabis-based medications. The market, currently estimated at $15 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 18% from 2025 to 2033, reaching an estimated value of $60 billion by 2033. This significant expansion is fueled by several key factors. Rising prevalence of chronic pain, anxiety, and other conditions responsive to cannabinoid therapies is a major driver. Furthermore, the expanding range of cannabis-derived products, encompassing dronabinol, nabilone, nabiximols, and cannabidiol (CBD), caters to a diverse patient population and treatment needs. The market's segmentation across applications – hospitals, clinics, and pharmacies – reflects the increasing integration of medicinal cannabis into mainstream healthcare systems. Technological advancements in cultivation and extraction methods are also contributing to market growth by improving product quality and consistency. However, regulatory hurdles, varying legal frameworks across different regions, and concerns regarding the long-term effects of cannabis use continue to pose challenges to market expansion. Strict regulations on cannabis cultivation and distribution, coupled with the need for extensive clinical trials to establish efficacy and safety, can impede market penetration. The lack of standardized quality control protocols and inconsistent pricing across the market can also affect consumer confidence. Despite these constraints, the long-term outlook for the medicinal grade cannabis market remains exceptionally positive, fueled by ongoing research, evolving regulations, and a growing acceptance of cannabis as a viable therapeutic option. The increasing number of companies involved in the cultivation, processing, and distribution of medicinal cannabis further indicates its growing significance in the global healthcare landscape. This in-depth report provides a comprehensive overview of the burgeoning medicinal grade cannabis market, projected to reach $15 billion by 2028. We delve into concentration levels, market trends, key players, and future growth potential, providing actionable insights for businesses and investors. The report leverages extensive market research and data analysis to deliver a detailed picture of this dynamic industry. This report incorporates data from leading companies like Ultra Health, Canopy Growth, and Cresco Labs, offering crucial competitive intelligence.

The Europe medical cannabis market size was valued at USD 2,582 million in 2024 and is projected to grow from USD 3,261.07 million in 2025 to reach USD 21.11 billion by 2033, growing at a CAGR of 26.3% during the forecast period (2025-2033).
Report Scope:

The Eastern Europe Medical Cannabis report features an extensive regional analysis, identifying market penetration levels across major geographic areas. It highlights regional growth trends and opportunities, allowing businesses to tailor their market entry strategies and maximize growth in specific regions.

In the cannabis market in Europe in 2024, cannabis generated the highest revenue, reaching approximately ************ U.S. dollars. In second place, CBD products followed with about ************ U.S. dollars, while recreational cannabis ranked third with around *********** U.S. dollars.

Medical cannabis made up the majority of the legal cannabis market in Europe in 2020. Sales of legal adult use cannabis totaled ***** million U.S. dollars in that year and are expected to grow to ***** million dollars by 2025.

Europe Medical Cannabis Oil Market is projected to reach USD 2,395.83 million by 2032, growing at a CAGR of 12.8% from 2024-2032.

The global medical & recreational cannabis market is booming, projected to hit $10.16 billion in 2025, with a 3.7% CAGR through 2033. Explore key market drivers, trends, and regional insights including North America, Europe, and Asia Pacific. Learn about leading companies and the future of this rapidly expanding industry.

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Marijuana Market Size 2024-2028

The marijuana market size is forecast to increase by USD 87.8 billion, at a CAGR of 32.14% between 2023 and 2028.

Major Market Trends & Insights

North America dominated the market and accounted for a 87% growth during the forecast period.
By the Product - Medical marijuana segment was valued at USD 9.19 billion in 2022
By the Type - Oil and tinctures segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 627.41 million
Market Future Opportunities: USD 87804.60 million
CAGR : 32.14%
North America: Largest market in 2022

Market Summary

The market continues to evolve, with significant shifts in consumer behavior and business strategies. According to recent studies, the global legal the market is projected to reach a value of USD73.6 billion by 2027, growing at a steady pace. This expansion is driven by increasing acceptance and legalization of marijuana for medicinal and recreational use in various regions. One notable trend is the growth of the e-commerce sector within the marijuana industry. In 2020, online sales of cannabis products in North America alone reached USD4.3 billion, representing a 45% increase from the previous year. This trend is expected to continue, as consumers increasingly turn to online platforms for convenience and safety during the ongoing pandemic. Moreover, the medical marijuana sector is witnessing significant advancements, with new product innovations and research studies highlighting its potential therapeutic benefits. For instance, a 2019 study published in the Journal of Pain found that medical cannabis significantly reduced opioid use among chronic pain patients. These findings underscore the potential of marijuana as a viable alternative to traditional pain management methods. In conclusion, the market is experiencing continuous growth and transformation, driven by increasing legalization, consumer preferences, and technological advancements. The e-commerce sector is gaining traction, while the medical marijuana industry is witnessing significant innovation and research. These trends are set to shape the future of the market, offering opportunities for businesses and investors alike.

What will be the Size of the Marijuana Market during the forecast period?

Explore market size, adoption trends, and growth potential for marijuana market Request Free SampleThe market continues to evolve, driven by advancements in various sectors. Two significant areas of innovation are trichome development and vaporization technology. Trichome development, a crucial aspect of cannabis cultivation, has seen improvements in understanding the role of environmental stress management and plant tissue analysis in optimizing potency and yield. In contrast, vaporization technology has gained traction due to its ability to preserve the plant's active compounds, leading to a more consistent user experience. Oil extraction techniques have also advanced, with yield estimation models and ph monitoring systems enhancing efficiency and quality. Meanwhile, pharmaceutical-grade cannabis production relies on stringent quality assurance protocols, ec monitoring systems, and disease resistance breeding to ensure consistent product purity and safety. These innovations contribute to the ongoing evolution of the market, with topical product development, edible product development, and infusion processes continuing to gain momentum.

How is this Marijuana Industry segmented?

The marijuana industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. ProductMedical marijuanaRecreational marijuanaTypeOil and tincturesFlowerGeographyNorth AmericaUSCanadaEuropeGermanyUKAPACAustraliaRest of World (ROW)

By Product Insights

The medical marijuana segment is estimated to witness significant growth during the forecast period.

The market is experiencing significant expansion as medical marijuana gains traction as an alternative to conventional pain medications. Approximately 50 million Americans live with chronic pain, fueling market growth in countries like the US. Marijuana plants, such as Cannabis indica, Cannabis sativa, and hybrids, can alleviate various types of chronic pain, including neuropathic and inflammatory pain. Furthermore, medical marijuana offers potential relief for patients suffering from conditions causing severe nausea, including Crohn's disease, acute gastritis, hypoglycemia, panic disorder, and arachnoiditis. Sustainable cultivation methods, such as hydroponics and soil-less systems, are increasingly adopted to optimize yield and reduce water usage. Plant growth regulators, nutrient solution management, and climate control t

The revenue of the cannabis market is forecast to significantly increase in Europe, reaching 7.26 billion U.S. dollars by 2029. CBD products account for the highest share of revenue, followed by recreational cannabis and medical cannabis.

The global medicinal marijuana market, valued at $9,336.3 million in 2025, is poised for significant growth. While the provided CAGR is missing, considering the rapid expansion of the cannabis industry and increasing legalization efforts worldwide, a conservative estimate would place the CAGR between 15% and 20% for the forecast period 2025-2033. This growth is fueled by several key drivers. The rising prevalence of chronic pain conditions and other ailments responsive to cannabinoid-based therapies is driving increased demand for medicinal marijuana products. Furthermore, growing scientific research validating the therapeutic benefits of cannabis and its derivatives is bolstering consumer confidence and physician acceptance. The market is segmented by product type (oil, tinctures, etc.) and application (medical, adult use), with medical applications currently dominating but adult-use markets exhibiting strong potential for future expansion. Regional variations exist, with North America and Europe currently leading the market, but Asia-Pacific is expected to witness considerable growth as regulations evolve and awareness increases. Despite the positive outlook, challenges remain including stringent regulations in some regions, potential for misuse, and ongoing concerns regarding safety and standardization of products. Companies such as ABcann Medicinals, Aurora Cannabis, and Tilray are major players, vying for market share through innovation in product development and expansion into new markets. The projected growth trajectory of the medicinal marijuana market hinges on continued legislative reform facilitating broader access to cannabis-based medicines and a greater understanding of its therapeutic applications. Successful navigation of regulatory hurdles, investment in research and development to ensure product quality and safety, and effective public health campaigns addressing potential risks will be crucial for the sustained and responsible expansion of this dynamic market. The increasing acceptance of medicinal marijuana as a viable treatment option, coupled with technological advancements in cultivation and extraction methods, further positions this market for remarkable growth over the next decade.

The size of the Medical Cannabis Market was valued at USD 4.78 billion in 2023 and is projected to reach USD 15.32 billion by 2032, with an expected CAGR of 18.1% during the forecast period. Recent developments include: March 2021: Emerald Health Therapeutics, Inc. (Canada) partnered with Medical Plants SLU (Spain), in which it provides resources and expertise to assist medical plants to produce medical cannabis dried flower and 2.0 products to serve emerging legal medical cannabis markets in the Europe., May 2020: Tilray (Canada) received approval in the form of Good Manufacturing Practice (GMP) certification in accordance with European Union standards, for its manufacturing facility in Cantanhede, Portugal., May 2020: Aurora Cannabis Inc. (Canada) acquired Reliva, LLC (US), a leader in the sale of hemp-derived CBD products. It is providing the company with the opportunity for significant growth in the US and internationally.. Key drivers for this market are: GROWING R&D ACTIVITIES AND FINANCIAL SUPPORT BY VARIOUS PRIVATE AND GOVERNMENT ORGANIZATIONS, RISING OCCURRENCE OF CHRONIC DISEASES AND OTHER MEDICAL CONDITIONS; LEGALIZATION OF MEDICAL CANNABIS IN VARIOUS REGIONS. Potential restraints include: ADVERSE EFFECTS ASSOCIATED WITH CANNABIS, STRINGENT GOVERNMENT POLICIES RELATED TO CBD OIL. Notable trends are: Cannabis growing medical application fuels market growth.

Discover the booming medical cannabis oil extract market! Explore its projected $12B value by 2033, driven by increasing legalization and therapeutic applications. Learn about market trends, key players, and regional growth opportunities in our comprehensive analysis.

Discover the booming medical cannabis market! Explore $21.13B market size in 2025, a 16.05% CAGR, and key trends driving growth in chronic pain, arthritis, and cancer treatments. Learn about leading companies and regional insights. Recent developments include: In March 2024, Jesse Ventura introduced a cannabis edible brand. Ventura partnered with Retro Bakery, based in Columbia Heights, to manufacture THC edibles derived from hemp., February 2023: Metrc reported the expansion of its contract with the State of Missouri to support the regulation of its adult-use cannabis market.. Key drivers for this market are: Increasing Number of Countries Legalizing the Use of Medical Marijuana, Trend of Producing Edible Products with Cannabis; Favorable Reimbursement Environment and Government Support in Certain Countries. Potential restraints include: Increasing Number of Countries Legalizing the Use of Medical Marijuana, Trend of Producing Edible Products with Cannabis; Favorable Reimbursement Environment and Government Support in Certain Countries. Notable trends are: The Chronic Pain Segment is Expected to Experience the Fast Growth Over the Forecast Period.

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Medical Marijuana Market Size 2024-2028

The medical marijuana market size is forecast to increase by USD 39.81 billion at a CAGR of 29.52% between 2023 and 2028.

The market is experiencing significant growth, driven by several key factors. The rising number of product launches, as innovators introduce new strains and delivery methods, is expanding the market's reach and appeal. B2B enterprises focus on supplying cannabis biomass and processing it into various medical marijuana functional food products for authorized dispensaries and retail & pharmacy stores. The production process involves extracting cannabinoids and other beneficial compounds using solvents, followed by purification and standardization. Furthermore, increasing awareness campaigns aimed at educating the public about the potential benefits of medical marijuana for various conditions are fueling demand. However, the market also faces challenges, including the side effects associated with inappropriate use and the ongoing legal and regulatory hurdles that limit access in certain jurisdictions. As the industry continues to evolve, stakeholders must navigate these trends and challenges to capitalize on the market's potential.

What will be the Size of the Market During the Forecast Period?

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The market encompasses the production, distribution, and consumption of cannabis and cannabinoid-based medications for medical purposes. This burgeoning industry has gained significant momentum in various countries, driven by the growing recognition of cannabis as an effective treatment for a range of ailments and symptoms, including chronic pain, nausea, seizures, and more. 
Moreover, the market comprises both B2B and B2C enterprises, with the former focusing on the supply of raw marijuana plants or extracted cannabinoids to manufacturers of cannabis-derived pharmaceuticals, such as Epidiolex, Marinol, Syndros, Cesamet, and Sativex. The production process involves careful cultivation, thorough testing, and adherence to regulatory requirements. The market's size and direction reflect the increasing demand for alternative treatments and the potential of cannabinoid-based medications to address unmet medical needs.

How is this Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Oil and tinctures
  Flower


Product

  Chronic pain
  Nausea
  Others


Geography

  North America

    Canada
    US


  Europe

    UK
    France


  APAC



  South America



  Middle East and Africa

By Type Insights

The oil and tinctures segment is estimated to witness significant growth during the forecast period.

Medical marijuana oil and tinctures are concentrated extracts derived from the Cannabis Sativa and Cannabis Indica plants. These extracts can be consumed orally, topically, or inhaled. Medical marijuana oils, also known as cannabis concentrates, are more potent than traditional marijuana due to their higher cannabinoid content. Tinctures, made by soaking plant material in solvents like alcohol or glycerin, offer a more discreet and versatile consumption method. Cannabinoid-based medications, such as Epidiolex, Marinol, Syndros, Cesamet, and Sativex, are FDA-approved for medical purposes. Chronic pain, ALS, Parkinson's, Alzheimer's, cancer, and neurological disorders are among the conditions for which medical marijuana is used.

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The oil and tinctures segment was valued at USD 4.48 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 46% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The markets in North America are experiencing significant growth due to legalization efforts In the US and Canada. The Supreme Court in Mexico has also ordered the Health Ministry to issue regulations on medical marijuana use within six months, primarily for epilepsy treatment. Key players In the region include Cannabis Sativa and Medical Marijuana, with Canadian companies legally exporting medical marijuana to the US for clinical trials. Cannabinoid-based medications, such as Epidiolex, Marinol, Syndros, Cesamet, and Sativex, are gaining popularity for treating various ailments and symptoms, including chronic pain, ALS, Parkinson's, Alzheimer's, cancer, and neurological disorders. Consumer spending on medical marijuana is expected to fo

The global legal medical cannabis market is experiencing robust growth, driven by increasing acceptance of cannabis as a therapeutic agent and a surge in clinical research validating its efficacy in treating various conditions. The market, estimated at $15 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033, reaching an estimated $50 billion by 2033. This growth is fueled by several key factors. Firstly, the expanding legal framework in numerous countries is removing regulatory hurdles and fostering market expansion. Secondly, advancements in cannabis cultivation techniques are leading to higher yields and improved product quality. Thirdly, the increasing prevalence of chronic diseases like cancer, arthritis, and epilepsy is bolstering demand for cannabis-based therapeutics. Finally, ongoing research continues to uncover novel therapeutic applications for cannabinoids like THC and CBD, further expanding market potential. Segments such as THC and CBD are witnessing significant demand, with THC holding a slightly larger market share due to its stronger psychoactive effects, which are beneficial in certain therapeutic applications. Key players like Tilray, Canopy Growth, and GW Pharmaceuticals are investing heavily in research and development, striving for product innovation and market consolidation. Geographical distribution reveals North America as the dominant region, benefiting from early legalization and established cannabis industries in the United States and Canada. However, the European and Asia-Pacific markets are poised for significant growth, fueled by increasing awareness of medical cannabis benefits and supportive regulatory reforms. While challenges exist, such as stringent regulations in certain regions, the potential for further market expansion is significant. The ongoing research to define the most effective treatment protocols and dosages for various ailments will continue to drive market growth and demand. The presence of established pharmaceutical companies alongside specialized cannabis companies signals a maturing market and an increasing focus on quality control and clinical validation. The market's future growth will depend heavily on continued scientific research, supportive government policies, and increasing patient access to safe and effective cannabis-based medical products.

The global medical and recreational cannabis market, valued at $10.21 billion in 2025, is projected to experience robust growth, driven by increasing legalization efforts worldwide and a rising acceptance of cannabis for both medicinal and recreational purposes. The Compound Annual Growth Rate (CAGR) of 3.9% from 2025 to 2033 indicates a steady expansion, with significant potential for acceleration as more jurisdictions embrace cannabis regulation and research into its therapeutic benefits progresses. Key growth drivers include the increasing prevalence of chronic pain and other conditions treatable with cannabis-based medications, along with evolving consumer preferences and the broadening acceptance of recreational cannabis use in various regions. Leading companies like Tilray, GW Pharmaceuticals, and Canopy Growth are at the forefront of innovation and market penetration, focusing on product diversification, brand building, and strategic acquisitions to solidify their positions. While regulatory hurdles and societal stigma remain challenges, the overall market trajectory points towards sustained expansion, particularly in North America and Europe, where legalization efforts are most advanced. The market segmentation within medical and recreational cannabis is crucial to understanding its future. While precise segment breakdowns are not provided, it's likely the market is divided into various product categories (e.g., dried flower, oils, edibles, concentrates) and delivery methods (e.g., inhalation, ingestion, topical application). Further segmentation by medical applications (pain management, epilepsy, anxiety) and recreational use patterns further enhances understanding. The competitive landscape is intensely dynamic, with significant consolidation occurring through mergers and acquisitions. This intense competition, coupled with the evolving regulatory frameworks across different regions, is crucial in shaping pricing strategies, product development, and market share dynamics. The sustained growth hinges on the ability of companies to navigate these complexities and to meet evolving consumer demand through high-quality products and innovative approaches.

Explore the dynamic Medical Cannabis Products market, projected to grow significantly from 2025-2033. Discover key drivers, trends, restraints, and regional insights for this expanding industry.