Medical Marijuana Market Size & Share, by End-User (Clinics, Hospitals); Product (Tinctures, Buds, Oils); Application (Cancer, Arthritis, Mental Disorders, Chronic Pain) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

Growth Drivers

• Increasing Chronic Pain Sufferers and Boosting Demand for Therapies
  Medical marijuana is anticipated to experience high demand as the number of health disorders in adults is increasing. The spread of chronic pain diseases is higher in adults and elderly people. The therapies that are conducted to relieve them from pain use this medicine since it can help in reducing pain. According to WHO, cancer was the second major disease that caused deaths globally in 2018 and has accounted for 9.6 million deaths. This puts emphasis on the increasing need for medical marijuana worldwide.
• Opportunities
  The market has a lot of opportunities to expand. Primarily, it is a medicine and is being accepted widely. Secondly, the benefits of this medicine are widely known. Lastly, the product is required for the treatment of major diseases such as cancer, arthritis, chronic pain, and many more. This makes the product crucial and is required everywhere around the globe.

Challenges

Marijuana is a drug that can leave a negative impact on the health of a person if mishandled. This creates a threat to the market growth. The drug is not legalized everywhere. Further, it is a recreational drug and it can leave symptoms including altering the mind, addiction, and others if it is not used as prescribed by the doctors. Another hindrance to the market can be the regulations imposed by the government on the usage of the medicine.