Category : Healthcare and Pharmaceuticals | Published at : January-2019 | Delivery Format : PDF | Status: Published | Pages : 160
Introduction
The global marijuana drying and curing equipment market worth is anticipated to around USD 146.0 billion by 2026, this market is foreseen to develop with 10.3% CAGR during the forecast time period.
Market Dynamics
Developing adoption of marijuana in a few medical applications, for example, cancer, mental disarranges, chronic pain and others is relied upon to impel income development in not so distant future.
Expanding number of nations legalizing cannabis for recreational and medical consumption and developing cannabis cultivation are some of the components driving need for curing and drying equipment. The quantity of patients living with incessant infections, for example, arthritis, headache, and disease, deciding on cannabis to ease torment has been on an ascent, along these lines powering market development.
Extensive legalization of hemp over the world is foreseen to support need for the same, which is foreseen to make business openings and advance needs being developed of capital equipment and cultivation facilities and relieving. Expanded need for high caliber and powerful marijuana is relied upon to fuel need for innovatively propelled equipment that can accelerate the drying procedure.
Market Insights
Legitimate marijuana has begun picking up footing worldwide because of popularity among customers and expanding legitimization of recreational or medicinal cannabis in different nations. Moreover, high open and private speculation and funding for research and the improvement of more secure types of ingesting marijuana, for example, tinctures, oils, vapes and different edibles are relied upon to emphatically fortify market development.
The quantity of conditions treated utilizing medical cannabis is developing quickly, as new patients are added to the market, the need for medical marijuana is required to build different creases over the coming years. Nations like Canada and the U.S. are moving towards legitimization of cannabis for recreational purposes, this thus is relied upon to make a move frame medicinal to recreational marijuana. Long purchase and endorsement process for medical marijuana prescription and easiness of obtainability of recreational marijuana is anticipated to drive the market.
Market Segmentation
Market By Marijuana Type
- Medical Marijuana
- Recreational Marijuana
Market By Product Type
- Buds
- Oil
- Tinctures
Market By Application
- Chronic Pain
- Mental Disorders
- Cancer
- Others
Market By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Chile
- Rest of Latin America
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of MEA
Regional Insights
U.S. captures the largest market for global the marijuana drying and curing equipment market in 2018, with a 56.0% revenue share, and is required to keep up its strength over the coming years. Expanding utilization of cannabis for medical and recreational purposes and rising cannabis development is relied upon to drive need for these machines with various advancements. Likewise, surging consumer preference for astounding cannabis with low dampness content, bring down horrendous scent, and similarly higher dynamic fixings will reinforce market development.
The Germany market is anticipated to observe the quickest revenue development at a CAGR of 5.8% somewhere in the range of 2020 and 2025. The potential progression of Germany's cannabis development control by 2020 and rising number of organizations putting resources into development of marijuana is foreseen to drive need for these devices in the nation. Presences of an expansive populace base and developing number of patients appearing for medical marijuana in the treatment and indication control of various diseases are likewise liable to make Germany one of the key markets in Europe.
Market Participants
Few of the main player present in the global Marijuana drying and curing equipment market are Tikun Olam, Canopy Growth Corporation, ABcannMedicinals, Inc., Aphria, Inc., Organigram Holdings, Inc, Aurora Cannabis, The Cronos Group, Maricann Group, Inc., and Tilray.
