Medical Marijuana Market Is Likely to Experience a Strong Growth During 2021-2026


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    The Medical Marijuana research report published by Stratview Research, is an in-depth analysis of the latest developments, market size, future technologies, market drivers, upcoming challenges, with key company profiles. The research study provides market overview, opportunities in the market, sales and revenue by region and much more business intel.

    This research analyses niche markets, potential threats, and competitive strategy in various segments based on the Medical Marijuana Market competitive landscape and development model in various parts of the world. This research throws light on the business strategies of the key players that might help in the growth of other companies during the pandemic era.

    Impact of COVID-19 on Medical Marijuana Market

    As the world grapples with one of its greatest health pandemic, the economic and social disruption has affected millions of enterprises. The revenues have gone down in the year 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition. Stratview Research throws light on in-depth insights related to rapid alterations in the key players in each industry, growth and decline due to COVID-19, etc. The researchers at Stratview Research are regularly connecting with the clients and other key players of almost all the industries, regarding the impact of COVID-19 on their businesses.

    Key Players:

    • Tilray (The U.S),
    • Canopy Growth Corporation (Canada),
    • Aurora Cannabis Inc. (Canada),
    • Maricann Group Inc. (Canada),
    • Aphria Inc. (Canada),
    • Tikun Olam (Israel),
    • GW Pharmaceuticals (UK),
    • Cannabis Sativa (The U.S),
    • Medical Marijuana, Inc. (The U.S), and
    • MedReleaf Corp. (The U.S).

    Growth drivers and Market Value:

    This report, from Stratview Research Medical Marijuana Market value and growth drivers over the trend period of 2021-26. According to the report -

    The Medical Marijuana Market is estimated to grow from USD 21.1 billion in 2020 to USD 53.0 billion by 2026 at a healthy CAGR of 17% during the forecast period.

    Segment Analysis:

    Application Trends

    Based on application, the market has been divided into chronic pain, mental disorders, cancer, and others.

    • The chronic pain segment accounted for the largest share in 2020 on account of increasing number of clinical trials using marijuana to treat chronic pain.
    • The cancer segment is projected to grow at the fastest CAGR during the review period.

    Regional Trends

    The market in North America accounted for the largest market share of around 45% in 2020 due to presence of key market players such as Medical Marijuana, Inc. (US), Canopy Growth Corporation (Canada) and Aurora Cannabis Inc. (Canada).

    Additionally, an increasing number of states legalizing the use of marijuana for medical purposes in the US is likely to play a significant role in the regional market growth.  The market in the Asia-Pacific region is projected to register a healthy growth rate on account of rising awareness regarding product benefits, particularly in China and India.

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    Competitive Analysis: Understanding your rivalry is critical to your success. This section includes an analysis of your key competitors, their products/services, their differentiators, and market shares, etc.

    Target Market and Audience: Identifying and prioritizing specific target markets is another key part of any industry, where research is crucial. Stratview Research’s report will help you find more about the demographics and buying behaviours of your potential customers.

    Key Considerations for Market Forecast:

    • Impact of lockdown, supply chain disruptions.
    • Pre and post-COVID-19 market estimates
    • Geographical Breakdown: Regional level analysis of the market, currently covering North America, Europe, China & Japan

    Impact of COVID-19 on the Global Market

    The Medical Marijuana report compiled by Stratview Research offers in-depth study of market opportunities and market impact that are stirred due to the COVID-19 pandemic. The detailed research report focuses upon the direct and indirect impact of COVID-19 with new product launches, M&As, supply chain overview, government regulations, strategies adopted by related market, etc.

    Sneak peek into the Report:

    The report provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market forecast analysis
    • Competitive landscape and dynamics: Market share, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends & Key success factors

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