Market Introduction
The medical use of cannabis has seen substantial growth in recent years, driven by increasing legalization, growing public acceptance, and a rising body of scientific research supporting its therapeutic potential. Cannabis is derived primarily from two species of the hemp plant: Cannabis indica and Cannabis sativa. It is available in various forms, including dried flower (commonly referred to as marijuana), hashish, and concentrated oils or extracts such as hash oil.
📚𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 – https://www.businessmarketinsights.com/sample/TIPRE00013903
Medical cannabis has a long history of use, but modern studies have expanded its application across a wide range of health conditions. Current research highlights its potential in managing symptoms such as chronic pain, nausea and vomiting—especially related to chemotherapy—as well as muscle spasms, epilepsy, and anxiety disorders. Additionally, medical cannabis is being investigated for its role in treating neurodegenerative diseases, sleep disorders, and even some autoimmune conditions.
As global awareness and regulatory frameworks continue to evolve, the medical cannabis industry is poised for further expansion, with increased investment in clinical trials, product innovation, and patient access programs.
North America Cannabis Strategic Insights
Strategic insights for the North America Cannabis provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
North America Cannabis Report Scope
| Attribute | Details |
| Market Size (2019) | US$ 6,036.9 Million |
| Market Size (2027) | US$ 65,161.4 Million |
| Global CAGR (2020–2027) | 29.9% |
| Historical Data | 2017–2018 |
| Forecast Period | 2020–2027 |
| Segments Covered | By Product Type: Flower, Concentrates By Application: Medical, Recreational By Compound: THC-Dominant, CBD-Dominant, Balanced THC & CBD |
| Regions Covered | North America (US, Canada, Mexico) |
| Key Companies | Aphria, Aurora Cannabis, Cannabis Science, Canopy Growth, Medical Marijuana Inc., VIVO, Tikun Olam, Terra Tech, Tilray, Cronos Group |
North America Cannabis Regional Insights
The geographic scope of the North America Cannabis refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Market Overview and Dynamics
The North America cannabis market is expected to reach US$ 65,161.4 million by 2027 from US$ 6,036.9 million in 2019. The market is anticipated to grow at a CAGR of 29.9% from 2020 to 2027. Factors driving the market growth include increasing approvals for cannabis-based products, and growing sales and inventory for cannabis. The COVID-19 outbreak is expected to increase the demand for cannabis products to treat breathing illness, nausea, and vomiting symptoms. However, stringent regulatory framework for cannabis is likely to hinder the market growth during the forecast period.
Key Market Segments
In terms of product type, the flowers segment held the largest share of the market in 2019; however, the concentrates segment is anticipated to register the highest CAGR during the forecast period. In terms of application, the medical segment held a larger share of the market in 2019 and the recreational segment is estimated to register a higher market share during the forecast period. In terms of compound, the pain management segment held a larger share of the market in 2019 and is estimated to register a higher CAGR during the forecast period.
Major Sources and Companies Listed
World Health Organization, Food and Drug Administration, and Drug Enforcement Administration are some of the major primary and secondary sources for the North America cannabis market included in the report.
| Category | Subcategories |
| By Product Type | Flowers, Concentrates, Others |
| By Application | Medical (Pain Management, Neurological Health Management, Mental Health Management, Others), Recreational |
| By Compound | THC-Dominant, CBD-Dominant, Balanced THC and CBD |
| Company Profiles | Aphria, Aurora Cannabis, Cannabis Science, Canopy Growth, Medical Marijuana Inc., VIVO Cannabis, Tikun Olam, Terra Tech, Tilray, The Cronos Group |
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
