August 03, 2020
According to the research report titled ‘Global Medical Cannabis Market - Analysis By Product Type, By Application, By Consumption Pattern, By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024) - By Region (North America, Europe, APAC, ROW), By Country available with Market Study Report, global medical cannabis market is expected to experience CAGR of 16.82% during 2019-2024.
Global medical cannabis market is segmented based on product type into cannabis Indica, cannabis sativa and others. Among these, cannabis Indica segment is reckoned to witness significant growth over the forecast years, owing to legalization of the product in most of the nations. Cannabis Indica finds several applications in industries such as paper, food & beverage, textile, healthcare, and skin & beauty products.
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With regards to the application spectrum, the market is divided into mental disorders, chronic pain, cancer, and others. Based on consumption pattern, medical cannabis industry is classified into concentrates, flowers, edibles and others.
With respect to the regional overview, the industry is bifurcated into Europe (Germany, Czech Republic, Italy, Croatia, and rest of Europe), Asia Pacific (Thailand, Australia, and rest of APAC), North America (Canada, U.S., and rest of North America), and rest of the world(Uruguay and Turkey). North America medical cannabis market is slated to grow momentously in the coming years, owing to booming production of cannabis, product legalization in most of the states of US and presence of major companies in Canada.