Medical Cannabis Market

The study involved three major activities in estimating the current market size of the medical cannabis market. Exhaustive secondary research was done to collect information on the market, as well as the peer and parent markets. The next step was to validate the findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various sources such as the Food and Drug Administration (FDA), United States Department of Agriculture (USDA), Federal Institute of Drugs and Medical Devices (BfArM), Bureau of Medical Cannabis (BMC), Health Canada, Federal Commission for the Protection Against Sanitary Risks (COFEPRIS), and National Cannabis Industry Association (NCIA) were referred to, to identify and collect information for this study. The secondary sources also included annual reports, press releases, investor presentations of companies, white papers, certified publications, articles by recognized authors, regulatory bodies, trade directories, and paid databases.

Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification & segmentation according to the industry trends to the bottom-most level, and geographical markets. It was also used to obtain information about key developments from a market-oriented perspective.

Primary Research

The medical cannabis market includes several stakeholders in the supply chain; these include suppliers, manufacturers, end-use product manufacturers, and service providers. Various primary sources from both the supply and demand sides of the medical cannabis market were interviewed to obtain qualitative and quantitative information.

The primary interviewees from the demand side include key opinion leaders, executives, vice presidents, key distributors, retailers, and CEOs of the medical cannabis market. The primary sources from the supply side include research institutions involved in R&D to introduce new medical cannabis products, key opinion leaders, distributors, and medical cannabis product manufacturers.

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the total size of the medical cannabis market. These approaches were also used extensively to determine the size of the various subsegments in the market. The research methodology used to estimate the market size includes the following details:

• The key players were identified through extensive secondary research.
• The medical cannabis market size was determined through primary and secondary research.
• All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
• All macroeconomic and microeconomic factors affecting the growth of the medical cannabis market was considered while estimating the market size.
• All the possible parameters that affect the market, covered in this research study, were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.

The following sections (bottom-up & top-down) depict the overall market size estimation process employed for the purpose of this study.

Data Triangulation

After arriving at the overall market sizes—using the market size estimation processes as explained above—the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and its subsegments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides of the medical cannabis industry. The market size was validated using the top-down and bottom-up approaches.

Report Objectives

• Market Intelligence
  • Determining and projecting the size of the medical cannabis market with respect to type, application, compound, distribution channel, and region, over a five-year period ranging from 2018 to 2023
  • Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across the regions
  • Providing detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • Analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the total market
• Competitive Intelligence
  • Identifying and profiling key market players in the medical cannabis market
  • Providing a comparative analysis of the market leaders on the basis of the following:
  • Product offerings
  • Business strategies
  • Strengths and weaknesses
  • Key financials
  • Understanding the competitive landscape and identifying major growth strategies adopted by the players across the key regions
  • Analyzing the supply chain, products, and regulatory frameworks across the regions and their impact on the prominent market players
  • Providing insights on key innovations and investments in the medical cannabis market

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Scope of the Report

This research report categorizes the medical cannabis market, based on type, compound, application, distribution channel, and region.

On the basis of type, the medical cannabis market has been segmented into:

• Flowers
• Concentrates
• Others

On the basis of application, the medical cannabis market has been segmented into:

• Pain management
• Neurological health management
• Mental health management
• Others

On the basis of compound, the medical cannabis market has been segmented into:

• THC-Dominant
• CBD-Dominant
• Balanced THC & CBD

On the basis of distribution channel, the medical cannabis market has been segmented into:

• Dispensaries
• Pharmacies
• Online Retailers

On the basis of region, the medical cannabis market has been segmented into:

• North America
• South America
• Europe
• RoW (Israel and Australia)

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to company-specific needs.

The following customization options are available for the report:

Regional Analysis

• Further breakdown of the Rest of Europe medical cannabis market, by key country
• Further breakdown of the Rest of South America medical cannabis market, by key country

Company Information

• Detailed analysis and profiling of additional market players (up to five)