In the healthcare industry, medical marijuana is still in its introduction phase. The medicines manufactured in China are already produced by using cannabis, which is why this potent product is now gaining mass acceptance, globally. There are some cases that cannot be completely treated with the traditional medicines, and therefore, medical marijuana remains a large influence in the medical health industry.
As per study of Research Dive, medical marijuana (cannabis) market forecast revenue of $36,205.4 million in the year 2026 growing at CAGR of 28.7%.
Marijuana is more safe and has less severe side effects over other treatment options such as opioid-based treatments. It is more efficient in reducing nausea and also improving appetite among chemotherapy patients. Increasing cancer burden along with rising demand for chronic pain management & treatment is projected to drive the medical marijuana market growth. For instance, as per publication of the World Health Organization (WHO), in 2018, Cancer disease is the second leading cause of death cases, in which Lung, breast, prostate, liver, stomach and colorectal cancer are the common types of cancerous diseases.
Moreover, R&D activities, Clinical trials along with commercialization of cannabis are anticipated to boost the global medical marijuana industry. However, stringent government regulation, lack of awareness in the emerging countries and absence of proper information shall restrain the medical marijuana market growth. China has the significant opportunities for the medical marijuana market; this is majorly due to China is