What is Global Dronabinol Market?
The Global Dronabinol Market is a fascinating and rapidly evolving sector that deals with the production, distribution, and consumption of Dronabinol, a synthetic form of tetrahydrocannabinol (THC), the active component of cannabis. This market has seen significant growth in recent years, driven by increasing acceptance of cannabis-based products for medical and recreational use worldwide. Dronabinol is primarily used to treat nausea and vomiting caused by chemotherapy and to increase the appetites of people with AIDS. It is a legal, FDA-approved medication, which sets it apart from other cannabis products.
Synthetic Dronabinol, Natural Dronabinol in the Global Dronabinol Market:
Dronabinol comes in two forms: synthetic and natural. Synthetic Dronabinol is a laboratory-made form of THC, while natural Dronabinol is derived directly from the cannabis plant. The Global Dronabinol Market encompasses both of these forms. Synthetic Dronabinol is the most prevalent, making up over 86% of the market. This is likely due to its consistency and the ease with which it can be produced in large quantities. Natural Dronabinol, on the other hand, is less common but is gaining traction as more people seek out natural and organic products.
Capsule, Oral Liquid in the Global Dronabinol Market:
The Global Dronabinol Market is not limited to one method of consumption. It is available in capsule form and as an oral liquid. The capsule form is the most popular, accounting for over 66% of the market. This is likely due to its convenience and ease of use. The oral liquid form, while less common, offers a viable alternative for those who have difficulty swallowing pills or prefer a different method of consumption.
Global Dronabinol Market Outlook:
The Global Dronabinol Market is a robust and growing industry. In 2022, the market was valued at US$ 240.9 million. By 2029, it is expected to reach US$ 373.8 million, growing at a compound annual growth rate (CAGR) of 6.4% from 2023 to 2029. This growth is driven by a variety of factors, including increasing acceptance of cannabis-based products, advancements in production methods, and the growing need for effective treatments for chemotherapy-induced nausea and AIDS-related appetite loss. The market is dominated by the top five players, who collectively hold a 44% market share.
| Report Metric | Details |
| Report Name | Dronabinol Market |
| Accounted market size in 2022 | US$ 240.9 million |
| Forecasted market size in 2029 | US$ 373.8 million |
| CAGR | 6.4% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
|
| Segment by Application |
|
| Consumption by Region |
|
| By Company | Canopy Growth, Noramco, KinetoChem, Entourage Phytolab, THC Pharm, Echo Pharmaceuticals, BOL Pharma, Aphios Corporation, Benuvia Manufacturing |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
