Posted by Europe Medical Cannabis Market Overview 2024-2032
The latest report by IMARC Group, titled “Europe Medical Cannabis Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032“, offers a comprehensive analysis of the industry, which comprises insights on the Europe medical cannabis market growth. The market size reached US$ 2,167.8 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 11,093.7 Million by 2032, exhibiting a growth rate (CAGR) of 19.3% during 2024-2032.
Medical cannabis, also known as medical marijuana, refers to the use of the cannabis plant or its extracts to treat various medical conditions and alleviate symptoms. The plant contains over 100 different cannabinoids, with tetrahydrocannabinol (THC) and cannabidiol (CBD) being the most well-known and studied. These cannabinoids interact with the body’s endocannabinoid system, which plays a crucial role in regulating various physiological functions, including pain sensation, mood, appetite, and memory.
Medical cannabis can be administered through various methods, including smoking, vaporization, ingestion of capsules or edibles, and topical application. It has been used for centuries for its therapeutic properties and is now gaining increasing recognition and acceptance within the medical community for its potential in managing chronic pain, nausea and vomiting, muscle spasms, seizures, inflammation, and other conditions. Medical cannabis is typically prescribed by healthcare professionals in jurisdictions where it is legal, and patients may obtain it from licensed dispensaries or pharmacies.
Europe Medical Cannabis Market Trends and Drivers:
The Europe medical cannabis market is experiencing significant growth driven by the growing body of scientific research supporting the therapeutic benefits of medical cannabis across a wide range of medical conditions. This increasing evidence base is leading to greater acceptance and adoption of medical cannabis among healthcare professionals and patients alike.
Besides, there is a rising demand for alternative treatment options, particularly for chronic and debilitating conditions where conventional therapies may be inadequate or associated with undesirable side effects. Medical cannabis offers a promising alternative or adjunctive therapy for patients seeking relief from symptoms such as chronic pain, spasticity, and chemotherapy-induced nausea and vomiting. Moreover, there is a shifting regulatory landscape across Europe, with an increasing number of countries legalizing medical cannabis or expanding access to it for medical purposes. This trend is driven by evolving attitudes towards cannabis, as well as recognition of its potential economic benefits, including job creation, tax revenue, and reduced burden on healthcare systems.
Additionally, there is a growing trend toward medicalization and standardization of cannabis products, with companies investing in research, development, and quality control to ensure consistency, safety, and efficacy. This includes the development of pharmaceutical-grade cannabis-based medicines, as well as innovative delivery methods and formulations tailored to specific patient needs. Overall, these drivers and trends are expected to fuel continued growth and expansion of the Europe medical cannabis market in the coming years, presenting opportunities for companies to capitalize on this burgeoning industry.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/europe-medical-cannabis-market/requestsample
Europe Medical Cannabis Market 2024-2032 Analysis and Segmentation:
The report segmented the market on the basis of country, species, derivative, application, end use and route of administration.
Breakup by Species:
- Indica
- Sativa
- Hybrid
Breakup by Derivative:
- Cannabidiol (CBD)
- Tetrahydrocannabinol (THC)
- Others
Breakup by Application:
- Cancer
- Arthritis
- Migraine
- Epilepsy
- Others
Breakup by End Use:
- Pharmaceutical Industry
- Research and Development Centers
- Others
Breakup by Route of Administration:
- Oral Solutions and Capsules
- Smoking
- Vaporizers
- Topicals
- Others
Breakup by Country:
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024- 2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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