Dublin, July 25, 2025 (GLOBE NEWSWIRE) -- The "Medical Cannabis Market Report 2025-2033" report has been added to ResearchAndMarkets.com's offering.
The global medical cannabis market size reached USD 37.0 Billion in 2024. Looking forward, the publisher expects the market to reach USD 68.6 Billion by 2033, exhibiting a growth rate (CAGR) of 7.1% during 2025-2033.
The increasing product use in treating substance use disorders, the exploration of products for chronic inflammatory conditions, the rising product demand for gastrointestinal disorders, and the rising demand for CBD-based products are some of the factors propelling the market. 
The global market is majorly driven by the increasing acceptance of the product for medicinal purposes. In line with this, the expanding legalization of the product is significantly contributing to the market. Furthermore, the rising awareness of the potential therapeutic benefits of the product is positively influencing the market.
Apart from this, the rapid advancements in cannabis research and medical studies are offering numerous opportunities for the market. Moreover, the growing prevalence of chronic pain and other medical conditions treatable with the product is catalyzing the market. Besides, the escalating aging population seeking alternative treatments for age-related ailments is propelling the market. The opioid crisis and the search for safer pain management options are bolstering the market. Additionally, the increasing demand for natural and plant-based medicines is providing a boost to the market.
Competitive Landscape:
Top companies are strengthening the market by leveraging their resources, expertise, and brand recognition. These companies invest heavily in research and development to create innovative cannabis-based products with consistent quality and efficacy. They expand their presence in key markets through strategic partnerships and acquisitions, driving consumer awareness and accessibility. Their established distribution networks enable the widespread availability of medical cannabis products, reaching a broader patient base.
Furthermore, these companies also engage in educational initiatives to raise awareness among healthcare professionals and the general public about the therapeutic potential of medical cannabis. Their efforts to comply with regulatory standards and maintain product safety build trust and credibility in the industry. By setting high industry standards and fostering best practices, these companies contribute to the market growth, leading the way for continued expansion and acceptance of medical cannabis as a legitimate and effective treatment option.
North America exhibits a clear dominance, accounting for the largest medical cannabis market share
North America is fostering the market growth due to its progressive regulatory environment, increasing acceptance, and widespread legalization across various states and countries in the region. In particular, the United States and Canada have been at the forefront of the medical cannabis movement, with many states and provinces legalizing medical cannabis for therapeutic use. The growing awareness and acceptance of medical cannabis have increased patient demand as individuals seek alternative treatments for various medical conditions. This increasing demand, in turn, has spurred investments in research, development, and commercialization of medical cannabis products, driving market growth.
Moreover, well-established pharmaceutical companies and research institutions in North America have accelerated the development of standardized and regulated cannabis-based medications, further propelling market expansion. The evolving legal landscape, coupled with a strong consumer base and supportive healthcare policies, positions North America as a significant driving force behind the market's global growth.
Medical Cannabis Market Trends/Drivers:
Rising clinical trials, research and development (R&D) activities, and commercialization of cannabis-based indications
The rising clinical trials, research and development (R&D) activities, and commercialization of cannabis-based indications are fostering the market. With increasing acceptance and legalization, there is a growing interest among researchers, pharmaceutical companies, and medical professionals to explore the potential therapeutic benefits of the product. Clinical trials and research studies are essential to provide scientific evidence supporting the efficacy and safety of cannabis-based treatments for various medical conditions. As more positive results emerge from these studies, confidence in medical cannabis as a legitimate treatment options increases, leading to wider adoption.
Furthermore, commercializing cannabis-based indications has seen substantial investments from pharmaceutical companies and startups. The development of standardized cannabis-based pharmaceutical products offers more consistent dosing, quality control, and regulatory compliance, further legitimizing the product in the healthcare industry. As the product becomes more firmly integrated into mainstream medicine, the market is expected to expand, attracting more patients, healthcare providers, and investors. This positive momentum in research, development, and commercialization fuels the market.
Inflating disposable incomes of the consumers
The inflating disposable incomes of the consumers are favorably impacting the market. As disposable incomes rise, consumers have more financial capacity to spend on healthcare, including alternative and complementary treatments. With increased purchasing power, individuals are more likely to explore and invest in the product for various health conditions. Medical cannabis, which may not be covered by insurance in some regions, can become a viable option for consumers with higher disposable incomes.
Inflating disposable incomes also contribute to a shift in consumer preferences towards more holistic and natural health remedies. As individuals prioritize their well-being, they seek alternative treatments beyond traditional pharmaceuticals, leading to increased demand for the product. Additionally, higher disposable incomes allow consumers to afford these products that may be of higher quality or from reputable sources, boosting the premium segment of the market.
The emergence of new cannabis-based pharmaceutical products
The emergence of new cannabis-based pharmaceutical products is bolstering the market. As research and clinical trials continue to explore the therapeutic potential of cannabinoids and other cannabis-derived compounds, pharmaceutical companies are developing innovative cannabis-based medications. These new pharmaceutical products undergo rigorous testing and regulatory approvals, instilling confidence in medical professionals and patients about their safety and efficacy.
As a result, more healthcare providers are open to prescribing cannabis-based medications for various medical conditions, thus driving market adoption. The development of standardized cannabis-based pharmaceuticals also addresses concerns about dosage consistency and quality control, making them more reliable and appealing to patients and healthcare providers. Moreover, the emergence of new cannabis-based medications expands the potential applications of medical cannabis in treating a wide range of conditions, from chronic pain and neurological disorders to mental health ailments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 125 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value (USD) in 2024 | $37 Billion |
| Forecasted Market Value (USD) by 2033 | $68.6 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
Detailed Profiles of All Major Companies
- Canopy Growth Corporation
- GW Pharmaceuticals, plc
- Aurora Cannabis, Inc.
- Aphria, Inc.
- MedReleaf Corporation
- Insys Therapeutics, Inc.
- CanniMed Therapeutics, Inc.
- Cara Therapeutics, Inc.
- United Cannabis Corporation
Medical Cannabis Industry Segmentation:
Breakup by Species:
- Indica
- Sativa
- Hybrid
Breakup by Derivatives:
- Cannabidiol (CBD)
- Tetrahydrocannabinol (THC)
- Others
Breakup by Application:
- Cancer
- Arthritis
- Migraine
- Epilepsy
- Others
Breakup by End-Use:
- Pharmaceutical Industry
- Research and Development Centres
- Others
Breakup by Route of Administration:
- Oral Solutions and Capsules
- Vaporizers
- Topicals
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- Europe
- Germany
- France
- Italy
- Spain
- Netherlands
- Latin America
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/4d7vbh
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