Medical cannabis market report for predicts $27 billion valuation by 2026

Fortune Business Insights has published new insights into the worldwide medicinal cannabis market. The research firm’s latest report suggests that the market will reach $26.9204 billion in value by 2026, swelling at a compound annual growth rate (CAGR) of 20.4 percent.

Titled, “Medical Marijuana Market Size, Share & Industry Analysis, By Application (Pain Disorders, Cancer, and Others), By Type (Flowers, Concentrates, Edibles and Others), By Distribution Channel (Dispensaries, Online, and Others), and Regional Forecast, 2019-2026,” the report offers an intensive look into the global market.

The report was compiled after an in-depth analysis of the worldwide medical cannabis market. In order to conduct their analysis, Fortune Business Insights’ team of researchers considered trends, challenges, limitations and growth drivers. 

Additionally, the medical cannabis market report segments the industry by application, distribution channel, geography and product type. Numerous significant players, including Aurora Cannabis and The Cronos Group, also get a mention in the report.

Fortune Business Insights’ global medicinal cannabis market report: Key takeaways 

Among the many findings that stood out in the latest worldwide medical cannabis industry report from Fortune Business Insights was one indicating prospective growth in Latin America and the Rest of the World for the coming years. 

Researchers attribute this predicted growth to the emerging prevalence of various medical conditions that cannabis may prove useful to treat, e.g. acute pain, chronic ailments, neurodegenerative diseases and psychiatric disorders, among many others.

Specifically, the report demonstrates that the global medical cannabis market’s growth was largely stimulated by North America, which pulled in the greatest amount of market share in 2018 with a revenue of USD$5.9949 billion. In regards to cannabis cultivation, Europe ranks second.

Industry experts foresee North America’s revenue swelling to USD$24.5783 billion by the end of 2026. Growth in this particular region, which comprises the United States and Canada, is largely influenced by medical and recreational cannabis legalization.

Fortune Business Insights’ global medicinal cannabis market report: Key players

Analysts noted that the North American region is being served by some of the sector’s most acclaimed vendors. A long list of prominent global medical cannabis industry players are highlighted in the new report, including the following:

  • Aurora Cannabis 
  • CannTrust Holdings 
  • MedReleaf Corp. 
  • Emerald Health Therapeutics 
  • The Cronos Group Green Relief Inc. 
  • Medical Marijuana, Inc. 
  • ABcann Medicinals, Inc. 
  • GW Pharmaceuticals Aphria Inc. 
  • Canopy Growth Corporation

Anyone who is interested in accessing Fortune Business Insights’ global medicinal cannabis market report can download a sample report by clicking here.