Medical Marijuana Revenue and Growth Rate 2022-2030
Posted by sandeep gade on November 2nd, 2022
The global Medical Marijuana Market is there to witness an irrevocable In Upcoming Years. Innovation in the form of digital tools is the buzzword all across. Even though it’s the youth engaging in digital and social platforms, the geriatric population could get benefited by engaging the services therein. Thus, the exponential influx of e-business, online consultations, and booking, door-step delivery are likely to run through the enterprise going forward.
According to a recent study by Persistence Market Research, the global medical marijuana market is expected to witness high growth at a CAGR of around 14.8% and reach US$ 76.5 Bn by 2031.
Medical marijuana is derived from the Cannabis sativa plant. The three major active compounds of the plant are tetrahydrocannabinol, cannabidiol, and cannabinol. Medical marijuana has various applications in the healthcare and therapeutic field, including treatment or managing pain, treating nausea, muscle spasms, managing anxiety, multiple sclerosis, low appetite, sleep problems, and many others.
Other factors driving demand for medical marijuana include the ability to manage or treat insomnia and epilepsy. According to healthcare specialists, medical marijuana is an effective option to manage sleep-related problems because it restores a person’s natural sleep cycle that changes due to today’s modern lifestyle.
Get Sample Copy of this Report@ https://www.persistencemarketresearch.com/samples/13897
Medical marijuana is also known for its strong anti-inflammatory properties. It can treat inflammation from arthritis as well as degenerative changes in the lumbar, cervical or thoracic spine. Many patients use marijuana to treat their pain caused due to inflammation.
Pharmaceutical companies are focused on getting approvals from different government authorities for the use of medical marijuana for treatment purposes.
Request for Methodology@ https://www.persistencemarketresearch.com/methodology/13897
Key Takeaways from Market Study
“Increasing prevalence of chronic pain and epilepsy and legalization of medical marijuana in developing countries are major factors driving demand,” says a Persistence Market Research analyst.
Who is Winning?
Leading medical marijuana manufacturers are constantly working toward expanding their product portfolios and market presence through key strategies such as product approvals and distribution and collaboration agreements.
Access Full Report@ https://www.persistencemarketresearch.com/checkout/13897
Want More Insights?
Persistence Market Research brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global medical marijuana market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights into the medical marijuana market. The market is segmented into four parts based on product (dried flowers and extract form), application (pain management, seizure, and others), distribution channel (retail pharmacies and e-Commerce), and seven major regions.
About Us: Persistence Market Research
Persistence Market Research
Like it? Share it!
About the Authorsandeep gade
Joined: August 22nd, 2022
Articles Posted: 831
More by this author