What is Global Pharmaceutical Grade Cannabis Market?
The Global Pharmaceutical Grade Cannabis Market refers to the segment of the cannabis industry that focuses on the production and distribution of cannabis products that meet stringent pharmaceutical standards. These products are used for medical purposes and are subject to rigorous quality control measures to ensure their safety, efficacy, and consistency. The market includes a variety of cannabis-derived compounds such as cannabinoids, which are used to treat a range of medical conditions including chronic pain, epilepsy, and multiple sclerosis. The demand for pharmaceutical-grade cannabis is driven by increasing acceptance of cannabis for medical use, advancements in cannabis research, and the growing number of countries legalizing medical cannabis. This market is characterized by high levels of regulation, which ensures that the products meet the necessary standards for medical use. As a result, pharmaceutical-grade cannabis products are often more expensive than recreational cannabis products due to the higher costs associated with compliance and quality assurance.
Dronabinol, Nabilone, Nabiximols, Cannabidiol, Others in the Global Pharmaceutical Grade Cannabis Market:
Dronabinol, Nabilone, Nabiximols, Cannabidiol, and other cannabis-derived compounds play significant roles in the Global Pharmaceutical Grade Cannabis Market. Dronabinol is a synthetic form of THC (tetrahydrocannabinol), the psychoactive component of cannabis, and is primarily used to treat nausea and vomiting caused by chemotherapy, as well as to stimulate appetite in patients with AIDS. Nabilone, another synthetic cannabinoid, is also used to treat severe nausea and vomiting in cancer patients undergoing chemotherapy. Nabiximols, marketed under the brand name Sativex, is a cannabis extract containing both THC and CBD (cannabidiol) and is used to alleviate symptoms of multiple sclerosis, such as muscle spasticity and neuropathic pain. Cannabidiol, commonly known as CBD, is a non-psychoactive compound that has gained popularity for its potential therapeutic benefits, including the treatment of epilepsy, anxiety, and chronic pain. Other cannabis-derived compounds are being researched and developed for their potential medical applications, including anti-inflammatory, analgesic, and neuroprotective effects. The development and commercialization of these compounds are driven by the growing body of scientific evidence supporting their efficacy and safety, as well as the increasing acceptance of cannabis as a legitimate medical treatment. The pharmaceutical-grade cannabis market is highly regulated, with strict quality control measures in place to ensure that products meet the necessary standards for medical use. This includes rigorous testing for potency, purity, and contaminants, as well as adherence to Good Manufacturing Practices (GMP). The market is also characterized by ongoing research and development efforts aimed at discovering new therapeutic applications for cannabis-derived compounds and improving existing formulations. As a result, the pharmaceutical-grade cannabis market is expected to continue to grow as more countries legalize medical cannabis and as new products are developed and brought to market.
Oral Medications, Topical Medications in the Global Pharmaceutical Grade Cannabis Market:
The usage of Global Pharmaceutical Grade Cannabis Market products in oral and topical medications is a significant aspect of their application in medical treatments. Oral medications, such as capsules, tablets, and tinctures, are commonly used to deliver cannabis-derived compounds to patients. These products are designed to provide a controlled and consistent dose of cannabinoids, ensuring that patients receive the appropriate amount of medication for their condition. Oral medications are often preferred for their ease of use and ability to provide long-lasting effects. For example, dronabinol and nabilone are available in capsule form and are used to treat nausea and vomiting in chemotherapy patients, as well as to stimulate appetite in patients with AIDS. Cannabidiol (CBD) is also available in various oral formulations, including oils and tinctures, and is used to treat conditions such as epilepsy, anxiety, and chronic pain. Topical medications, on the other hand, are applied directly to the skin and are used to treat localized conditions such as pain, inflammation, and skin disorders. These products include creams, lotions, and balms that contain cannabis-derived compounds and are designed to be absorbed through the skin. Topical medications are often preferred for their ability to provide targeted relief without the psychoactive effects associated with oral or inhaled cannabis products. For example, nabiximols, a cannabis extract containing both THC and CBD, is available as a mouth spray and is used to treat muscle spasticity and neuropathic pain in multiple sclerosis patients. The development of new and innovative delivery methods for pharmaceutical-grade cannabis products is an ongoing area of research, with the goal of improving patient outcomes and expanding the range of conditions that can be treated with these medications. The pharmaceutical-grade cannabis market is expected to continue to grow as more countries legalize medical cannabis and as new products and delivery methods are developed and brought to market.
Global Pharmaceutical Grade Cannabis Market Outlook:
The global Pharmaceutical Grade Cannabis market was valued at US$ 849.5 million in 2023 and is anticipated to reach US$ 1355.3 million by 2030, witnessing a CAGR of 7.2% during the forecast period from 2024 to 2030. This significant growth reflects the increasing acceptance and legalization of medical cannabis across various countries, as well as the growing body of scientific evidence supporting the therapeutic benefits of cannabis-derived compounds. The market's expansion is also driven by advancements in cannabis research and the development of new and innovative products that meet stringent pharmaceutical standards. As more countries adopt regulations that allow for the medical use of cannabis, the demand for high-quality, pharmaceutical-grade cannabis products is expected to rise. This growth trajectory underscores the importance of ongoing research and development efforts aimed at discovering new therapeutic applications for cannabis-derived compounds and improving existing formulations. The pharmaceutical-grade cannabis market is characterized by high levels of regulation, which ensures that products meet the necessary standards for medical use. This includes rigorous testing for potency, purity, and contaminants, as well as adherence to Good Manufacturing Practices (GMP). As a result, pharmaceutical-grade cannabis products are often more expensive than recreational cannabis products due to the higher costs associated with compliance and quality assurance. The market's growth is also supported by the increasing number of patients seeking alternative treatments for conditions such as chronic pain, epilepsy, and multiple sclerosis, which can be effectively managed with cannabis-derived medications. Overall, the global Pharmaceutical Grade Cannabis market is poised for significant growth in the coming years, driven by increasing acceptance, ongoing research, and the development of new and innovative products.
| Report Metric | Details |
| Report Name | Pharmaceutical Grade Cannabis Market |
| Accounted market size in 2023 | US$ 849.5 million |
| Forecasted market size in 2030 | US$ 1355.3 million |
| CAGR | 7.2% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
|
| Segment by Application |
|
| Consumption by Region |
|
| By Company | Ultra Health, Mammoth Farms, Palo Verde Center, Hexo Corp, Bright Green Corporation, Copperstate Farms, Los Suenos Farms, Canna, Village Farms, Aurora, Canopy Growth, Cresco Labs, Glass House Farms, Organigram, C3 International, CannTrust, FlowerOne, Solaris Farms, 7Acres, ThePharm |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
