Cannabis Pharmaceutical Market - Global Industry Analysis, Market Size, Opportunities and Forecast 2021 - 2030

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC2560

The rapidly progressing transformation of cannabis from herbal preparations to prescription drugs is contributing to the market growth.

The increasing use of cannabis-based pharmaceuticals for multiple indications including chronic pain, epilepsy, inflammation, sleep disorders, schizophrenia, anorexia, and symptoms of multiple sclerosis is driving the market growth. Additionally, some of the pharmaceutical drugs based on cannabis include Sativex (GW Pharmaceuticals), Epidiolex, Dronabinol/Marinol (Unimed Pharmaceuticals), Nabilone/Cesamet (Valeant Pharmaceuticals International), Dexanabinol (Solvay Pharmaceuticals), CT-3 (ajulemic acid) (Indevus Pharmaceuticals), Cannabinor (formerly PRS-211,375) (Pharmos), HU 308 (Pharmos), HU 331(Cayman Chemical), Rimonabant/Acomplia (Sanofi-Aventis), and Taranabant / MK-0364 (Merck).

Segment Instance

The global cannabis pharmaceutical market is segmented on the basis of product type, application, distribution channel, and geography. Based on product type, the market is segmented on the basis of solids, dissolvable/powders, oil, and ointments & creams. The cannabis pharmaceuticals find application across cancer, arthritis, migraine, epilepsy, and others. Based on the distribution channel, the market is bifurcated into hospital pharmacies, online pharmacies, and retail pharmacies. Based on geography, the market is bifurcated into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The aforementioned regions are also further bifurcated into major countries of the respective region.

In 2019, North America held the major share (%) of the cannabis pharmaceuticals market. The rising prevalence of diseases like Alzheimer's disease and cancer is supporting regional market growth. The presence of major players in the region is further bolstering the regional market value. The major economies of the region including US and Canada are major contributors to the regional market value. The region is followed by Europe due to rising awareness about cannabidiol infused products in the region. Furthermore, Asia Pacific is projected to experience the fastest growth throughout the forecast period from 2020 to 2027. The increasing awareness about the medical benefits of cannabis, including its healing properties is propelling its demand in the Asia Pacific region. Many of the Asian countries are softening their perception towards cannabis is the positive factor projected to increase the market opportunities over the forecast period in the region.

Key Market Players

Some of the leading competitors are Abbott Laboratories (Solvay Pharmaceuticals) (US), AbbVie Inc.(US), Cardiol Therapeutics (Canada), Cayman Chemical (US), Cure Pharmaceutical (US), GW Pharmaceuticals (UK), Indevus Pharmaceuticals (US), Insys Therapeutics, Inc. (US), Merck (Germany), Pharmos (US), Sanofi-Aventis, Solvay Pharmaceuticals (Abbott) (US), Tilray (Canada), Unimed Pharmaceuticals, Bausch Health (formerly Valeant Pharmaceuticals (Canada), and Zynerba Pharmaceuticals, Inc (US). Cannabis Pharmaceuticals companies have announced mergers and acquisitions, partnerships and collaborations, and new product development to expand their position in the Cannabis Pharmaceuticals industry. Major players are also moving into new regions with advanced technologies for gaining a competitive advantage.

Some of the key observations regarding cannabis pharmaceuticals industry include:

Sativex, a mouth spray whose chemical compound is derived from natural extracts of the cannabis plant and includes two cannabinoids including THC (delta-9-tetrahydrocannabinol) and CBD (cannabidiol).  It was approved and launched in the UK on 21st June 2010. Sativex is used for the treatment of neuropathic pain and spasticity in patients with Multiple Sclerosis (MS) and used for analgesic treatment in adult patients with advanced cancer who experience moderate to severe pain.

Dronabinol/Marinol is an FDA approved Schedule I drug for appetite stimulation in 1992 approved for nausea in 1985, and moved to Schedule III effective from 2nd July 1999. Basically, used for the treatment of nausea and vomiting in cancer patients, appetite stimulant for AIDS patients, analgesic to ease neuropathic pain in multiple sclerosis patients.

Nabilone/Cesamet Originally approved by the FDA for use in the US in 1985 later removes and re-approved by the FDA on 15th May 2006.  Also, got approved in the United Kingdom and Australia in 1982, Canada (1981), and Mexico (2007). The drug is used for the treatment of nausea and vomiting in patients undergoing cancer treatment.

Market Segmentation

Market By Product

Ointments & Creams

Market By Application


Market By Application

Hospital Pharmacy
Online Pharmacy
And Retail Pharmacy

Market By Geography

North America
•    U.S.
•    Canada

•    U.K.
•    Germany
•    France
•    Spain
•    Rest of Europe

•    China
•    Japan
•    India
•    Australia
•    South Korea
•    Rest of Asia-Pacific

Latin America
•    Brazil 
•    Mexico
•    Rest of Latin America

Middle East & Africa
•    GCC
•    South Africa
•    Rest of Middle East & Africa

Frequently Asked Questions

Oil is the leading segment by product in cannabis pharmaceutical market

Cancer is the leading segment by application in the cannabis pharmaceutical market

The rapidly progressing transformation of cannabis from herbal preparations to prescription drugs is contributing to the market growth.

Abbott Laboratories (Solvay Pharmaceuticals), AbbVie Inc., Cardiol Therapeutics, Cayman Chemical, Cure Pharmaceutical, GW Pharmaceuticals, Indevus Pharmaceuticals, Insys Therapeutics, Inc., Merck, Pharmos, Sanofi-Aventis, Tilray, Unimed Pharmaceuticals, Bausch Health (formerly Valeant Pharmaceuticals, and Zynerba Pharmaceuticals, Inc. and others are some of the prominent players in the market.

North America is expected to be the fastest growing market over the forecast period.

North America is expected to be the largest market over the forecast period.

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