seobhushan (3)

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Medical Marijuana Market is projected to grow at
a CAGR 19.3 by 2027
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Key Insights from Medical Marijuana Market

• There have been rapid research and development
  activities conducted regarding medical cannabis,
  including tetrahydrocannabinol- and
  cannabidiol-based medications, for use as an
  effective treatment for health conditions like
  anorexia, chronic pain, seizures, muscle spasms,
  and loss of appetite. It is also highly consumed
  to lower the intensity of multiple symptoms
  observed during the treatment of Alzheimers
  Crohns diseases, which will help sustain a
  strong market position in years ahead.
• With regards to the application spectrum, the
  global medical marijuana market from the nausea
  segment is poised to depict a CAGR of 18.4
  through 2027, which is attributable to the strong
  prevalence of cancer and other related symptoms.
  Cannabinoids are considered effective antiemetics
  as compared to alizapride, domperidone,
  haloperidol, thiethylperazine, chlorpromazine,
  metoclopramide, and prochlorperazine. In clinical
  studies, the product has been observed to act as
  a mood-enhancing adjuvant for controlling
  sickness related to chemotherapy.

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Continued

• On the basis of route of administration, the
  topical segment is likely to register sales of
  nearly 5 billion by 2027. Topicals are creams or
  lotions that can be applied directly to the skin
  for the relief of an injury. Due to the
  side-effects of using opioids, topicals have also
  been adopted as their replacement for
  injury-related pain management. Several other
  benefits such as self-administration and
  non-invasiveness will drive segmental growth over
  the forecast spell.
• In terms of segmentation by distribution channel,
  the global medical marijuana market from the
  dispensaries segment will account for a market
  share of 58.4 in 2020. Due to the presence of
  strict regulatory bodies, product consumption and
  sales are highly monitored to avoid instances of
  addiction.

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Regional Insights in Medical Marijuana Market

• The global medical marijuana market size is
  slated to proliferate at a significant pace over
  the foreseeable future, driven by the increasing
  legalization of marijuana for medical purposes,
  alongside its large-scale adoption, especially in
  Germany, the UK, and the U.S. Several regulatory
  bodies are considering the product legalization
  due to the strong consumer awareness about the
  medical marijuana benefits and the relative
  support from the public.
• Over the past years, medical cannabis has been
  extensively studied to be used as a therapeutic
  solution for a variety of disorders. For example,
  the product has witnessed widespread adoption for
  the treatment of nausea and vomiting. In
  addition, the U.S. FDA has approved several
  product formulations, owing to the accelerating
  RD activities towards developing innovative
  solutions and discovering novel applications.
  These factors, alongside the rapid technological
  advancements, will contribute to the rising
  popularity of the different types of medical
  marijuana across the globe.

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Major Companies in Medical Marijuana Market

• Tilray
• The Supreme Cannabis Company
• GW Pharmaceuticals
• Canopy Growth Corporation
• Aphria Inc.
• ABcann Medicinals Inc.
• Aurora Cannabis Inc.

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Industry Coverage

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