By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Cannabis NewsCannabis News
  • Cannabis
  • CBD
  • Science
  • Culture & Arts
  • Cannabis Press Releases
  • More
    • About Maryjanes Post
    • Cannabis Advertising
    • Cannabis Partnerships
Reading: Global Medical Marijuana Market Forecast to 2028 – Featuring Aphria, Canopy Growth, CanaQuest Medical and GW Pharmaceuticals Among Others – ResearchAndMarkets.com
Share
Aa
Aa
Cannabis NewsCannabis News
Search
  • Topics
    • Business
    • Cannabis
    • Cannabis Tech
    • Culture & Arts
    • Industry Leaders
    • Cannabis Press Releases
  • Topics
    • Business
    • Cannabis
    • Cannabis Tech
    • Culture & Arts
    • Industry Leaders
    • Cannabis Press Releases
  • About Maryjanes Post
    • Ambassador
    • Cannabis Partnerships
Follow US
  • Ad Choices
  • RSS Terms of Service
© 2018 - 2022 MaryJanes Post Media. All Rights Reserved.
Cannabis News > Cannabis Press Releases > Global Medical Marijuana Market Forecast to 2028 – Featuring Aphria, Canopy Growth, CanaQuest Medical and GW Pharmaceuticals Among Others – ResearchAndMarkets.com
Cannabis Press Releases

Global Medical Marijuana Market Forecast to 2028 – Featuring Aphria, Canopy Growth, CanaQuest Medical and GW Pharmaceuticals Among Others – ResearchAndMarkets.com

Business Wire
Last updated: 2022/10/28 at 5:12 PM
Business Wire Published October 28, 2022
Share
SHARE
DUBLIN–(BUSINESS WIRE)–The “Medical Marijuana Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product, Application, Distribution Channel, and Geography” report has been added to ResearchAndMarkets.com’s offering.

logo Cannabis Media & PR

The medical marijuana market was valued at US$ 11,706.50 million in 2021 and is likely to reach value of US$ 40,027.59 million by 2028; it is estimated to grow at a CAGR of 19.2% from 2022 to 2028.

The report highlights trends prevailing in the market and factors driving the medical marijuana market. The market growth is attributed to increasing approvals of medical marijuana products and rising acceptance of the medicinal use of marijuana. However, the illegal use of cannabis as a street drug and misconceptions regarding marijuana limit the market growth.

Medical marijuana is in its introduction stage in the medical health industry. It is a potent product accepted globally, where Chinese medicines are already being manufactured using these plants, and that too with a long history associated. Medical marijuana remains a significant influence in the healthcare industry to treat cases that are not entirely advisable with traditional medicines. Medical marijuana is just a typical marijuana plant that is processed to get the fundamental composition of cannabinoids, which is necessary to synthesize the product to be in use.

Countries in North America have legalized the use and cultivation of medical cannabis. For instance, in 2012, Uruguay became the first country in the world to legalize the recreational use of cannabis. Similarly, in 2014, Brazil authorized the use of medical cannabis, and in 2016, it approved the import of medications based on CBD oil and products made from THC and marijuana flowers.

In 2017, Peru approved a law regulating the medicinal and therapeutic use of cannabis and its derivatives. In 2018, the Government of Canada passed the Cannabis Act, which created a strict legal framework for controlling the production, distribution, sale, and possession of cannabis across Canada. In the US, as of February 2022, marijuana was legalized in 37 states and the District of Columbia. In the past few years, Mexico, Luxembourg, and Lesotho, among others, have joined the list of countries to legalize the use of marijuana for medical applications.

However, despite widespread legalization of the use of cannabis, its legal cultivation and production have earlier been mostly limited to developing countries. In September 2019, the Ministry of Commerce, Agriculture, and Fisheries of Jamaica announced a partnership with Harvard International Phytomedicines and Medical Cannabis Institute (HIPI) to conduct research on the pharmacological benefits of marijuana. At the same time, Jamaica aims to capitalize on this partnership and utilize this opportunity to grow and develop its national marijuana industry.

Market Dynamics

Drivers

  • Increasing Approvals of Medical Marijuana Products
  • Rising Acceptance of Medicinal Use of Marijuana in America

Restraints

  • Illegal Use of Cannabis as Street Drug and Misconceptions Regarding Marijuana

Opportunities

  • Increase in Job Opportunities in Marijuana Industry

Future Trends

  • Widespread Distribution of Medical Marijuana

Companies Mentioned

  • Aphria, Inc.
  • Canopy Growth Corporation
  • CanaQuest Medical Corporation
  • GW Pharmaceuticals
  • Organigram Holdings Inc.
  • VIVO Cannabis Inc
  • Panaxia Pharmaceutical Industries Ltd
  • Phoena Holdings Inc.
  • Emerald Health Therapeutics Inc.
  • MARICANN INC

For more information about this report visit https://www.researchandmarkets.com/r/4wwqov

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470

For U.S./ CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

You Might Also Like

 Flower One Obtains Meeting Order Under the Companies’ Creditors Arrangement Act (Canada)

United States Alternative Adult Beverages Market Report 2022: The Burgeoning Adult Beverage Segment Expanding the Adult Beverage Horizon – ResearchAndMarkets.com

Global Cannabidiol Market Report 2022: Growing Acceptance and Use of Products Due to Government Approvals Drives Sector – ResearchAndMarkets.com

Organigram Launches HOLY MOUNTAIN to Further Support Its Strong Position in the Dried Flower and Hash Categories

Leafly to Participate at Upcoming Investor Conferences

TAGGED: Business Wire
Business Wire October 28, 2022
Share this Article
Twitter Reddit Email Copy Link
Previous Article Cresco Labs to Report Third Quarter 2022 Financial Results on November 15, 2022
Next Article Global Medical Cannabis Global Market Insights 2022: Analysis and Forecast to 2027 by Manufacturers, Regions, Technology, Product Type – ResearchAndMarkets.com

Cannabis News and More

Work with an experienced cannabis media firm to provide your brand with the exposure it needs.

Cannabis Topics

  • Cannabis
  • Business
  • CBD
  • Cannabis Science
  • Culture & Arts

Company

  • About Maryjanes Post
  • Contact Cannabis Media
  • Contributor Guidelines

Terms of Use

  • TERMS
  • PRIVACY
  • CONTRIBUTOR AGREEMENT
  • DMCA

Resources

  • Write For UsNew
  • Media KitNew
  • Cannabis Advertising
  • Cannabis Partnerships
  • Cannabis Press ReleaseNew
Cannabis NewsCannabis News
Follow US

© 2018 - 2022 MaryJanes Post Media. All Rights Reserved.

  • Ad Choices
  • RSS Terms of Service
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?