Cannabis market size to hit US$ 153,689.9 Million by 2027 – News By ReportsGO

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Cannabis market size to hit US$ 153,689.9 Million by 2027

Global Cannabis Market Report offered by Market Study Report gives a industry overview of the Cannabis industry which covers product scope, market revenue, opportunities, growth rate, sales volumes and figures. The report also explores the worldwide players of the market and is segmented by region, type and application with forecast to 2027.

The global cannabis market is expected to reach US$ 153,689.9 Mn in 2027 from US$ 10,838.1 in 2018. The market is estimated to grow with a CAGR of 34.5% from 2019-2027.

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The global cannabis market based on the application was segmented into medical and recreational uses. In 2018, the medical segment held the largest share of the market, by application. However, the recreational segmented is anticipated to witness fastest growth in the cannabis market, based on application.

The key factors such as increasing number of countries decriminalizing the use of cannabis and legalizing the cannabis for medical use, increasing awareness of benefits offered by cannabis through conduction of workshops and symposiums and increasing technological development in the field of medical cannabis is expected to account for the growth of the global cannabis market.

In recent years the whole, unprocessed marijuana plant or its basic extracts are used to treat symptoms of illness and other medical conditions. The US FDA has not approved marijuana plant as medicine but certain chemicals from the plant called cannabinoids, are FDA-approved medications which are in the form of pill.  As cannabis helps in treating certain illnesses and symptoms many regions/countries have legalized marijuana for medical use. Currently the two cannabinoids from the marijuana plant that are of medical interest are tetrahydrocannabinol (THC) and cannabidiol (CBD). THC may also decrease pain, inflammation (swelling and redness), and muscle control problems.

CBD is used to reduce pain, inflammation, control epileptic seizures, and to treat mental illness and addictions. The FDA approved a CBD-based liquid medication called Epidiolex for the treatment of two forms of severe childhood epilepsy, Dravet syndrome and Lennox-Gastaut syndrome. A few studies have reported that inhaled (smoked or vaporized) marijuana can be helpful treatment of neuropathic pain (pain caused by damaged nerves). Thus growing medicinal applications of cannabis in diseases like HIV, epilepsy and others is expected to drive cannabis market during the forecast period.

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Some of the major primary and secondary sources included in the report for the Cannabis Market are the World Health Organization, European Observatory on Cannabis Cultivation, Centers for Disease Control and Prevention, Organisation for Economic Co-operation and Development, National Center for Biotechnology Information, Medical Marijuana Regulation and Safety Act, Drug Enforcement Administration, and others.Table of Contents:

1. Introduction

1.1 Scope of the Study

1.2 Market Segmentation

2. Global Cannabis Market – Key Takeaways

3. Research Methodology

4. Global Cannabis Market Landscape

5. Global Cannabis Market – Key Industry Dynamics

6. Cannabis Market – Global Analysis

7. Global Cannabis Market Analysis- by Product Type

8. Global Cannabis Market Analysis- by Application

9. Global Cannabis Market Analysis- by Compound

10. Global Cannabis Market – Geographical Analysis

11. Industry Landscape

12. Cannabis Market – Company Profiles

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Related Report:

Global Cannabis Market Insights, Forecast to 2025

This report researches the worldwide Cannabis market size (value, capacity, production and consumption) in key regions like United States, Europe, Asia Pacific (China, Japan) and other regions. This study categorizes the global Cannabis breakdown data by manufacturers, region, type and application, also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter’s Five Forces Analysis.

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