The global cannabis pharmaceuticals market is expected to reach USD 5.72 billion by 2027, according to a new study by Polaris Market Research. The report “Cannabis Pharmaceuticals Market Share, Size, Trends, Industry Analysis Report, By Product (Epidiolex, Marinol, Cesamet and Sativex); By Distribution Channel (Hospital Pharmacies, Online Pharmacies, and Retail Pharmacies), By Regions; Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Favorable legislation in the market, policies across developed economies, and investments in the research and development for cannabis-infused drugs are the key factors responsible for the market growth. Moreover, technological innovation to decide the accurate dose of cannabis-infused drugs with cutting edge delivery methods to ensure therapeutic and psychoactive events, to contain drug abuse among adults also favoring market growth for cannabis pharmaceuticals. Blockchain technology in the pharmaceutical industry could be used to maintain strain purity and product formulations to have effective treatment for the therapeutic cause and will also enable us to capture dosage data for future considerations, thus technology could also play important role in shaping the market future of the cannabis pharmaceuticals industry.
The global market for cannabis pharmaceuticals is fragmented based on product, distribution channel, and region. In terms of product, the market is segmented into Epidiolex, Marinol, Cesamet, and Sativex. Based on distribution channel, the cannabis pharmaceuticals industry is further bifurcated into hospital, online, and retail pharmacies.
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- Sativex segment accounted for the largest revenue share in 2019 owing to the growing usage of drug for the muscle spasticity. In addition, growing demand for plant-based pharmaceuticals is expected to drive market demand for cannabis pharmaceuticals.
- Based on distribution channel, the hospitals pharmacies segment is projected to account for a significant share by 2027. The high share is attributed to the fact that most of the physicians recommend medicines from in-house pharmacy stores driving the cannabis medicines market growth.
- Europe accounted for the largest share in 2019 in terms of revenue on account of the increasing demand for plant-based medicines and the increasing awareness pertaining to the medicinal benefits associated cannabis
List of Key Players
- GW Pharmaceuticals
- Valeant Pharmaceuticals
- Insys Therapeutics, Inc.
- Corbus Pharmaceuticals
- Teva Pharmaceutical
- Solvay Pharmaceuticals
- Cannabics Pharmaceuticals
Polaris Market Research has segmented the cannabis pharmaceuticals market report on the basis of product, distribution channel, and region
Cannabis Pharmaceuticals, Product Outlook (Revenue – USD Million, 2016 – 2027)
Cannabis Pharmaceuticals, Distribution Channel Outlook (Revenue – USD Million, 2016 – 2027)
- Hospital Pharmacies
- Online Pharmacies
- Retail Pharmacies
Cannabis Pharmaceuticals, Regional Outlook (Revenue – USD Million, 2016 – 2027)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa