In 2018, medical cannabis products were legalized for the first time in the United Kingdom. Subsequent to this legalization, the country's medical cannabis market is forecasted to increase in size massively. In 2023, the of medicinal cannabis market in the UK stood at *** million U.S. dollars, and by 2027 it is projected to exceed *** million U.S dollars.

According to Cognitive Market Research, the global medical cannabis market size will be USD 21458.9 million in 2025. It will expand at a compound annual growth rate (CAGR) of 23.50% from 2025 to 2033.

North America held the major market share for more than 40% of the global revenue with a market size of USD 7939.79 million in 2025 and will grow at a compound annual growth rate (CAGR) of 22.1% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 6223.08 million.
APAC held a market share of around 23% of the global revenue with a market size of USD 5150.14 million in 2025 and will grow at a compound annual growth rate (CAGR) of 26.5% from 2025 to 2033.
South America has a market share of more than 5% of the global revenue with a market size of USD 815.44 million in 2025 and will grow at a compound annual growth rate (CAGR) of 23.9% from 2025 to 2033.
The Middle East had a market share of around 2% of the global revenue and was estimated at a market size of USD 858.36 million in 2025 and will grow at a compound annual growth rate (CAGR) of 24.1% from 2025 to 2033.
Africa had a market share of around 1% of the global revenue and was estimated at a market size of USD 472.10 million in 2025 and will grow at a compound annual growth rate (CAGR) of 23.1% from 2025 to 2033.
Mental health management category is the fastest-growing segment of the medical cannabis industry.

Market Dynamics of Medical Cannabis Market

Key Drivers for Medical Cannabis Market

Increasing Patient Demand and Awareness to Boost Market Growth

The market for medical cannabis is expanding due in large part to rising patient demand and awareness. The need for alternative therapies keeps growing as more people learn about the therapeutic advantages of cannabis, especially in the treatment of neurological disorders, anxiety, and chronic pain. Moreover, patients and healthcare professionals are becoming more accepting of cannabis-based treatments as a result of educational programs, clinical studies, and success stories. As a result of this increased knowledge and the trend toward natural, non-addictive treatments, the patient base is rising, which will support the market’s expansion in the upcoming years. For instance, in February 2025, Cronos Group Inc., an innovative global cannabinoid firm, announced the launch of Lord Jones® Chocolate Fusions, its exciting first entrance into the chocolate edibles sector. A skilled group of chefs, food scientists, and cannabis product development leaders created and designed Cronos’ most recent edible breakthrough.

https://ir.thecronosgroup.com/news-releases/news-release-details/cronos-launches-lord-jonesr-chocolate-fusions

Advancements in Technology to Boost Market Growth

Technological developments are mostly driving the market expansion for medical cannabis. Innovations such as nanotechnology boost the absorption and efficacy of cannabinoids, leading to faster and more dependable therapeutic effects. Additionally, digital platforms and AI-driven technologies promote tailored treatment plans, increasing patient results and fostering broader acceptance of medical cannabis. According to forecasts, the cannabis technology industry in North America is expanding at a compound annual growth rate of 22.1% between 2024 and 2030. As a result, these technical developments strengthen the position of medical cannabis in contemporary healthcare by standardizing products, improving quality control, and streamlining distribution. ?

Restraint Factor for the Medical Cannabis Market

High Manufacturing Costs Will Limit Market Growth

One major obstacle to the expansion of the medicinal cannabis business is the high cost of manufacturing. The cost of growing dried flowers varies depending on the method. Moreover, additional costs associated with labelling, testing, packaging, and security measures are brought about by regulatory compliance. For example, manufacturers’ yearly regulatory expenditures in North America are anticipated to be high for medical cannabis shops. Higher product pricing results from these increased expenses, which could restrict patient access and impede market growth. Furthermore, resolving these financial issues is essential to developing a medicinal cannabis market that is accessible and long-lasting, especially in emerging markets.

Market Trends in Medical Cannabis Market ...

In Florida, the medical cannabis market is projected to reach around *** billion U.S. dollars in 2027. This statistic shows a forecast of the medical cannabis market in the United States, by state.

The Medical Marijuana Market Report is Segmented by Formulation Type (Capsules, Oils, and More), Cannabinoid Composition (THC-Dominant, and More), Route of Administration (Oral, Inhalation, Sublingual, and More), Application (Chronic Pain, Arthritis, Migraine, and More), Distribution Channel (Hospital Pharmacies, and More), and Geography (North America, Europe, and More). The Market Forecasts are Provided in Terms of Value (USD).

The United States medical cannabis market size reached around USD 15.10 Billion in 2024. The market is projected to grow at a CAGR of 12.20% between 2025 and 2034 to reach nearly USD 47.74 Billion by 2034.

Medicinal Cannabis Market valuation is estimated to reach USD 23.93 Bn in 2025 and is anticipated to grow to USD 102.58 Bn by 2032 with steady CAGR of 23.1%.

According to some projections for the United States, the medical cannabis market will reach a peak in 2024, with around *** billion U.S. dollars. After that, a phase of stagnation and even decline is expected in the following years. This is partly because medical sales tend to fall when states start allowing adult-use sales after previously allowing medical-use sales.

The Medical Cannabis Market size is expected to reach a valuation of USD 68.1 billion in 2034 growing at a CAGR of 14.6%. The Medical Cannabis Market research report classifies Market by share, trend, demand, forecast and based on segmentation.

Medical cannabis market is expected to grow from USD 21.33 bn in 2024 to reach USD 27.81 bn in 2025 and USD 211.54 bn by 2035, representing a CAGR of 22.5%.

The global medical cannabis market size was valued at USD 12.65 Billion in 2024, driven by the increased legalization of cannabis across the globe. The market size is anticipated to grow at a CAGR of 24.00% during the forecast period of 2025-2034 to achieve a value of USD 108.72 Billion by 2034.

According to Cognitive Market Research, the global Cannabis market size will be USD 58614.5 million in 2024. It will expand at the compound annual growth rate (CAGR) of 35.00% from the year 2024 to 2031.

North America held the primary market share for more than 40% of global revenue with a market size of USD 23445.80 million in 2024 and will rise at a compound annual growth rate (CAGR) of 33.2% from the year 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 17584.35 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 13481.34 million in 2024 and will rise at the compound annual growth rate (CAGR) of 37.0% from the year 2024 to 2031.
Latin America held a market share of more than 5% of global revenue with a market size of USD 2930.73 million in 2024 and will rise at the compound annual growth rate (CAGR) of 34.4% from the year 2024 to 2031.
Middle East and Africa held a market share of around 2% of global revenue and estimated at a market size of USD 1172.29 million in 2024 and will rise at the compound annual growth rate (CAGR) of 34.7% from the year 2024 to 2031.
The concentrates category is the fastest growing segment of the Cannabis industry

Market Dynamics of Cannabis Market

Key Drivers for Cannabis Market

Legalization and regulatory reforms are significantly driving the market

A primary driver of the cannabis market is the increasing wave of legalization and regulatory reforms across various regions. Governments and other organizational bodies are increasingly recognizing the medical and therapeutic benefits of cannabis, along with its potential to generate significant revenue, leading to progressively easing restrictions on cultivation, distribution and consumption.

Rising Demand for Medical Cannabis to Drive Market Growth

The increasing acceptance of cannabis for medical purposes is another major factor driving market growth. Scientific studies and clinical trials have highlighted the therapeutic benefits of cannabis compounds, particularly cannabidiol (CBD) and tetrahydrocannabinol (THC), in managing chronic pain, anxiety, epilepsy, and other conditions. This has led to growing prescriptions for cannabis-based medications in healthcare systems worldwide. The ageing global population and surging prevalence of chronic diseases have further spurred demand for medical cannabis as a natural and effective treatment option.

Restraint Factor for the Cannabis Market

Stringent Regulatory Frameworks and Legal Restrictions Will Limit Market Growth

The cannabis market faces significant restraints due to stringent regulatory frameworks and inconsistent legal statuses across different regions. While some countries and states have legalized medical or recreational cannabis, many others continue to impose strict prohibitions. Even in legalized areas, taxation policies, complex licensing requirements, and compliance costs pose challenges for market participants. These barriers limit market entry for smaller businesses and slow the expansion of cannabis-related products.

Trends in the Cannabis Market

The Expansion of Legalization Fuels Consumer and Investment Growth

The global cannabis market is undergoing significant changes due to the rising legalization of both medical and recreational cannabis in North America, Europe, and certain regions of Latin America. Nations like Canada, Germany, and various U.S. states are witnessing a surge in consumer demand, which is fostering the emergence of new startups, product innovation, and increased investment. This legal shift is also normalizing cannabis use and encouraging the growth of dispensaries, wellness products, and edibles.

The Growing Popularity of CBD-Infused Products in Health and Wellness

Cannabidiol (CBD), the non-psychoactive element of cannabis, is emerging as a significant player in the wellness, cosmetics, and functional food industries. Consumers are increasingly turning to CBD for its alleged health advantages, including stress relief, improved sleep, pain management, and anti-inflammatory effects. Consequently, a diverse array of CBD-infused products—spanning oils, gummies, skincare creams, and pet supplements—are entering the market.

Impact of Covid-19 on the Cannabis Market

The COVID-19 pandemic had a mixed impact on the cannabis market. On the po...

Global Medical Marijuana Market is estimated to reach USD 23.5 billion by 2024, registering a CAGR of 25% during the forecast period 2020-2026. Use of marijuana in treatment of arthritis, effectiveness in treatment for neuropathic pain, growing demand for medical marijuana legalization and production of edible products with cannabis are driving the market growth.
The market size reveals a high growth as there is a booming demand for marijuana for therapeutic applications. Rise in prevalence of dreaded diseases is likely to trigger the market growth in the forecast period.

Medical Marijuana Market Trends, Drivers and Opportunities:

Marijuana more commonly called as medical cannabis is enabling a high industry growth as there have been substantial investments by the pharmaceutical companies in the development of cannabis products and devices. The plant contains around 800 chemicals that can be used for various medicinal purposes. Health conscious consumers with access to these products are now enjoying its benefits. With the legalization of marijuana, physicians are now interestingly employing cannabis for understanding the potency of treatments. For instance, with the legalization of cannabis in the U.S. it has minimized the dependency on opiods and description drugs.
In Europe, cannabis is an illegal drug which mainly attracts a polarized debate between public and politicians. However, with the rising interest, it now addresses some complex issues leading in modifying the stringent policies for medical use of marijuana.
Rise in use of marijuana for therapeutic purpose owing to rise in medical conditions in the geriatric population. In addition, the market witness an increasing potential of marijuana throughout the forecast period. In addition, several countries have legalized the use of marijuana for medical purpose to treat chronic diseases and passed laws that strengthens its purpose.
The market witness trends such as rise in adoption of cannabis for Parkinson’s, Alzheimer’s and Arthritis disease. Moreover, the presence of large pool of patients and legalization of marijuana in developed countries is likely to propel the demand. On contrary, restraints such as limited production and less knowledge of extraction of marijuana for medical applications is likely to confine the market growth throughout the forecast period.

Medical Marijuana Market Segment Insights:

By Application:

Based on application, the medical marijuana market can be segmented into anorexia seizures, muscle spasms and pain management. Muscle spams and pain management are likely to witness a significant market share due to rising prevalence of chronic disorders in geriatric and child population.

Based on Distribution Channel:

Based on distribution channel, the medical marijuana market can be segmented into dispensaries and online. Dispensaries accounted for the largest market share in 2018 accounting for a major revenue share and rise in patient influx.

By Route of Administration:

Based on the route of administration, the market can be segmented into oral, tropical and inhalation. Inhalation category accounted for a significant market share owing to several advantages such as rise in adoption of cannabis and effective regulations pertaining to the use of marijuana for medical purpose.

By Geographical:

Based on geographical segmentation, the market can be segmented into North America, South America, Europe, Asia Pacific, Middle-East and Africa. North America dominated the global market in 2018 and is anticipated to exhibit a higher CAGR due to extensive use of marijuana for medical applications. In the U.S. marijuana is permitted for medical use and applications. Also, increasing research and development for medical purpose supplements the U.S. market growth throughout the forecast period.

Competitive Landscape:

Some of the key players mentioned in the medical marijuana market report are Canopy Growth, Aurora Cannabis Inc., Aphria Inc., GW Pharmaceuticals, Emerald Health Therapeutics, MedReleaf Corporation, Tilray and Medical Marijuana, Inc. The vendors have adopted strategies such as spending on research and development activities, production of novel drugs and strategic collaboration.

It is projected that Germany's medical cannabis market will exceed *********** U.S. dollars by 2027, making it the largest national medical cannabis market in Europe. By then, most European countries are expected to have legalized medical cannabis.

The Cannabis Market Report is Segmented by Product Type (Flower, Pre-Rolls, Concentrates, and More), by Application (Medicinal, Adult-Use/Recreational, and More), by Compound Type (THC-Dominant, CBD-Dominant, and More), and by Geography (North America, Europe, Asia-Pacific, South America, Middle East, and Africa). The Market Forecasts are Provided in Terms of Value (USD).

Learn more about the Medical Cannabis Sales Market Report by Market Research Intellect, which stood at USD 12.2 billion in 2024 and is forecast to expand to USD 40.4 billion by 2033, growing at a CAGR of 15.6%.Discover how new strategies, rising investments, and top players are shaping the future.

Medical Cannabis Market Outlook

According to our latest research, the global medical cannabis market size in 2024 stands at USD 18.2 billion, with a robust CAGR of 18.9% projected through the forecast period. By 2033, the market is anticipated to reach USD 97.5 billion, driven by expanding legalization, increasing adoption in clinical settings, and a growing body of evidence supporting its therapeutic applications. The marketÂ’s exponential growth is underpinned by the rising prevalence of chronic diseases, evolving regulatory frameworks, and the surging demand for alternative therapies, particularly in pain management and oncology.

One of the primary growth factors fueling the medical cannabis market is the expanding acceptance of cannabis-based therapies among healthcare professionals and patients alike. With a significant increase in the number of countries and US states legalizing medical cannabis, there has been a marked surge in patient access and prescription rates. The growing pool of clinical studies highlighting the efficacy of cannabinoids in managing chronic pain, neurological disorders, and cancer-related symptoms has further legitimized its use. Additionally, the stigma associated with cannabis is gradually diminishing, as public awareness campaigns and educational initiatives demystify its medical benefits. This transition has led to a broader patient base and greater willingness among physicians to recommend medical cannabis as part of integrated treatment protocols.

Another critical driver is the innovation within product formulations and delivery mechanisms. The medical cannabis market has witnessed a shift from traditional flower-based products to more sophisticated options such as oils, tinctures, capsules, and edibles. These products offer precise dosing, improved bioavailability, and enhanced patient compliance, making them more suitable for the medical community. The development of pharmaceutical-grade cannabis products, backed by rigorous quality control and standardization, has further strengthened the trust of both patients and healthcare providers. This trend is also complemented by investments in research and development, with pharmaceutical and biotech companies collaborating to bring novel cannabinoid-based therapies to market.

The regulatory landscape continues to evolve, providing a framework that supports both patient safety and market expansion. Governments are increasingly recognizing the economic and therapeutic potential of medical cannabis, leading to more structured regulatory pathways for cultivation, manufacturing, and distribution. This has spurred the entry of new market participants, including multinational pharmaceutical firms and established healthcare providers. The resultant competition has driven improvements in product quality, affordability, and accessibility. Furthermore, insurance coverage for certain cannabis-based medications is becoming more common, reducing out-of-pocket costs for patients and further stimulating market growth.

The increasing acceptance and legalization of Medical Marijuana across various regions have significantly contributed to the growth of the medical cannabis market. As more countries and states recognize the therapeutic potential of medical marijuana, regulatory frameworks are being adapted to facilitate its integration into healthcare systems. This shift not only enhances patient access but also encourages further research into its benefits and applications. The evolving legal landscape is creating opportunities for new market entrants and fostering innovation in product development, ultimately benefiting patients seeking alternative treatment options.

From a regional perspective, North America remains the dominant force in the medical cannabis market, accounting for the largest share due to early legalization, robust infrastructure, and high patient awareness. Europe is rapidly catching up, with countries like Germany, the UK, and Italy implementing comprehensive medical cannabis programs. The Asia Pacific region, while still nascent, is poised for significant growth as regulatory barriers ease and investment in research intensifies. Latin America and the Middle East & Africa are also witnessing gradual acceptance, with governments exploring the economic and public health benefits of medical cannabis. This global shift is expected to create a more integrated and

Em 2035, estima-se que o mercado de cannabis medicinal se expanda para 224,0 bilhões de dólares, apresentando um CAGR robusto de 23,8% entre 2025 e 2035, a partir de uma avaliação de 21,4 bilhões de dólares em 2024.

Capsules and oils are the most common formulation types in the Medical Cannabis Market, offering precise dosing and ease of administration. Advanced delivery systems, such as transdermal patches and sublingual sprays, are gaining popularity due to their enhanced bioavailability and targeted delivery mechanisms. The increasing demand for non-psychoactive cannabinoids, such as cannabidiol (CBD), is driving the growth of the other formulation types segment. Different application segments cater to specific medical conditions, with chronic pain, arthritis, migraine, and cancer being the most prevalent. 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: Lack of Awareness about the Dosage and Medicinal Properties of Marijuana, Social Stigma Related to Cannabis Use. Notable trends are: The Chronic Pain Segment is Expected to Experience the Fast Growth Over the Forecast Period.

As per Cognitive Market Research's latest published report, the Global Medicinal Cannabis market size was USD 10,181.17 Million in 2022. Medicinal Cannabis Industry's Compound Annual Growth Rate will be 24.5% from 2023 to 2030. Factors Impacting on Medicinal Cannabis Market

Increasing awareness regarding different therapeutic applications of the product, such as appetite enhancement, reducing eye pressure, and pain management drive the demand for the growth of the global medicinal cannabis market. Furthermore, the increasing demand for cannabis will provide an opportunity for the global market. However, the high cost of cannabis capsules may restrain the growth of the global medicinal cannabis market. What is Medicinal Cannabis?

Cannabinoids and marijuana prescribed by doctors to their patients are referred to as medicinal cannabis or medical marijuana. Due to production and political restrictions, marijuana has not been properly evaluated as a medicine. The safety and effectiveness of utilizing cannabis to treat illnesses, as a result, have not been thoroughly investigated through a clinical study.

Global Medical Cannabis Market was valued at USD 28.54 billion in 2024 and is expected to reach USD 87.41 billion by 2030 with a CAGR of 20.51%.

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Market Size	2024: USD 28.54 Billion
Forecast Market Size	2030: USD 87.41 Billion
CAGR	2025-2030: 20.51%
Fastest Growing Segment	Cannabis Extracts
Largest Market	North America
Key Players	1. Canopy Growth Corporation. 2. Aphria, Inc. 3. Maricann Group, Inc. 4. Tikun Olam - Cannabit Pharmaceuticals Ltd. 5. MedReleaf Corporation 6. GW Pharmaceuticals plc. 7. Cannabis Sativa, Inc. 8. Medical Marijuana, Inc. 9. Aurora Marijuana Inc. 10. Cronos Group Inc