Outlook of U.S. medical marijuana market status and development trends reviewed in new report - PowerPoint PPT Presentation

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Outlook of U.S. medical marijuana market status and development trends reviewed in new report

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A new report covers U.S. medical marijuana market outlook providing historical facts, current status and future development trends information along with data on leading players and regions. – PowerPoint PPT presentation

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Title: Outlook of U.S. medical marijuana market status and development trends reviewed in new report


1
U.S. medical marijuana market trends research and
projections for 2021- 2027
  • A research study conducted by Global Market
    Insights, Inc., suggests that U.S. medical
    marijuana market is anticipated to cross 14.9
    billion and depict a 10.5 growth rate through
    2027. Strong prevalence of cancer is projected to
    give the U.S. medical marijuana market share an
    appreciable boost over the forecast spell.
    Chronic pain has become a major health issue
    among the U.S. population over the past years. In
    light of a current opioid epidemic, patients who
    are at high risks of chronic pain are also
    looking for alternative therapy for pain relief.
  • As per reliable estimates, 62 of the population
    consume medical cannabis as an effective
    treatment against chronic pain, while 2.1 million
    Americans consume different types of medical
    marijuana for treating various medical conditions
    and symptoms.

2017 Global Market Insights, Inc. USA. All
Rights Reserved
www.gminsights.com
2
  • Apart from chronic pain, medical marijuana has
    been gaining widespread adoption to treat chronic
    conditions like cancer. Several formulations of
    the product are currently approved for use
    against cancer-related pain and
    chemotherapy-induced nausea. This growing
    awareness about medical marijuana benefits will
    contribute to the significant expansion of the
    regional industry over the forthcoming years.
  • With regards to the application spectrum, the
    pain management segment registered 5.5 billion
    of the U.S. medical marijuana industry revenue in
    2020, as the pain condition is a prominent health
    issue among the regional population. According to
    the NHIS (National Health Interview Survey), over
    25 million individuals in the United States
    suffer from pain per day. The segmental growth
    can further be credited to the exponential use of
    marijuana for pain management and other medicinal
    purposes.
  • In terms of segmentation by route of
    administration, the topical segment was valued at
    374.6 million in 2020 and is poised to exhibit
    an 11.2 CAGR through 2027, due to the robust
    product demand for treating numerous skin related
    diseases like eczema and psoriasis, coupled with
    its mounting usage as an alternative to steroids.

2017 Global Market Insights, Inc. USA. All
Rights Reserved
www.gminsights.com
3
Request for a Sample Copy of this Report _at_
https//www.gminsights.com/roc/2890
2017 Global Market Insights, Inc. USA. All
Rights Reserved
www.gminsights.com
4
  • Regional Analysis
  • The Pacific Central medical marijuana market is
    set to register a CAGR of 8.7 through 2027,
    which is attributable to the growing product
    applications as well as its legalization in major
    regions like California. The regional industry
    growth is further stimulated by the mounting
    number of patients and dispensaries in
    California. Rising shift towards adult-use
    cannabis since the legalization of the
    recreational use of the product may, however,
    impede regional market share to some extent in
    the foreseeable future.
  • Competitive Analysis
  • The competitive landscape of the U.S. medical
    marijuana market consists of companies such as
    Aurora Cannabis, Inc., United Cannabis, Emerald
    Health Therapeutics, Tilray, GW Pharmaceuticals,
    Medical Marijuana, Inc., and Canopy Growth, among
    others. These companies are focusing on varied
    strategies like MA and business expansions to
    consolidate their market position. To illustrate,
    in December 2020, Canada-based Tilray and Aphria
    announced plans to merge in an all-stock
    agreement to establish the largest cannabis
    company across the globe.

Request for Customization _at_ https//www.gminsights
.com/roc/3358
2017 Global Market Insights, Inc. USA. All
Rights Reserved
www.gminsights.com
5
Latest Research Report On U.S. medical marijuana
Market _at_ https//www.gminsights.com/industry-analy
sis/us-medical-marijuana-market
Request for sample of this research report _at_
https//www.gminsights.com/request-sample/detail/2
89
Request for customization https//www.gminsights.
com/roc/2890
2017 Global Market Insights, Inc. USA. All
Rights Reserved
www.gminsights.com
6
Stay In Touch You can visit us at
www.gminsights.com
Thank You!
2017 Global Market Insights, Inc. USA. All
Rights Reserved
www.gminsights.com
www.gminsights.com
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