Cannabis Extract Market Analysis

Type Segment Analysis

Conventional segment is estimated to account for around 52% cannabis extract market share by 2035, due to higher potency of conventional cannabis extracts in comparison with raw cannabis flower. This particular property makes them more effective for both recreational and medical use, providing stronger and consistent effects. Conventional cannabis extracts are widely used to manage medical chronic conditions and are preferred due to fewer doses. 

Application Segment Analysis

The pharmaceutical segment in cannabis extract market is expected to hold significant revenue share throughout the forecast period. Cannabis products and extracts such as CBD and THC are widely used in treatment of chronic pain, multiple sclerosis, epilepsy, and anxiety. Epidiolex, Marinol, Cesmate and Syndros are some of the commonly used drugs approved by the U.S. FDA. In addition to this, many companies are investing in R&D projects to launch new and effective drugs. For instance, in March 2024 Sanctuary Medicinals partnered with Real Isolates to utilize its patented Smokenol cannabis extraction process to infuse in certain Sanctuary products.   

Distribution Channels (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies)

By 2035, hospital pharmacies segment is projected to account for around 51.2% cannabis extract market share, due to direct access to a larger patient base. Growing hospital admissions have enabled hospital pharmacies to promote and dispense more products. These pharmacies contain prescription medicines and vaporizers that contain THC, CBD or psychoactive substances found in cannabis. Factors such as rising patient base, high usage of cannabis in healthcare and hospitals, and government permits to dispense cannabis in many developed economies are expected to drive segment revenue growth over the forecast period. 

Our in-depth analysis of the global market includes the following segments: