Medicinal Cannabis Market, By Product Type (Flower, Concentrates, Edibles, Topicals & Transdermals, and Others ), By Compound (Tetrahydrocannabinol (THC) and Cannabidiol (CBD)), By Application (Cancer, Arthritis, Chronic Pain, Parkinsons Disease, Epilepsy

The global medicinal cannabis market size is valued at USD 23.93 BN in 2025 and is expected to expand at a compound annual growth rate (CAGR) of 23.1% from 2025 to 2032. Medicinal cannabis, also known as medical marijuana, refers to using the whole unprocessed marijuana plant or its basic extracts to treat diseases or improve symptoms. It contains several mind-altering chemical compounds that can relieve pain, nausea, anxiety, and other symptoms in patients with conditions including cancer, Alzheimer's, Parkinson's, epilepsy, and chronic pain. The increasing legalization of medicinal cannabis in major markets like the U.S. and various countries in Europe and Latin America is expected to boost the demand for cannabis-based pharmaceutical and wellness products over the coming years. Moreover, active research in clinical trials to explore the medicinal benefits of various cannabinoids is likely to propel the adoption of medicinal cannabis globally.

Market Dynamics:

The global medicinal cannabis market is primarily driven by the rising legalization of cannabis for medical use across countries, growing patient pool for chronic pain, and other medical applications, increasing public awareness about the therapeutic benefits of cannabis, and ongoing research & development for cannabinoid-based pharmaceutical formulations. However, challenges around social acceptance, strict regulations, and limitations on cannabis distribution channels remain barriers to rapid market growth. Opportunities exist in expanding access to medical cannabis in emerging economies, launching innovative delivery methods, developing synthetic cannabinoid drugs with medical advantages, and integrating cannabis extracts into nutraceuticals and functional foods.

Key Features of the Study:

• This report provides an in-depth analysis of the global medicinal cannabis market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2025–2032), considering 2024 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global medicinal cannabis market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study BOL Pharma, Tilray, Medreleaf Corporation, Aurora Cannabis Inc., Canopy Growth Corporation, Insys Therapeutics Inc., Aphria Inc., MGC Pharmaceuticals Limited, GW Pharmaceuticals plc., Medical Marijuana Inc, Enveric Biosciences, Pascal Biosciences, Realize Therapeutics, Celadon Pharmaceuticals Plc., MAK Scientific LLC, MIRA Pharmaceuticals, and Cardiol Therapeutics.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global medicinal cannabis market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global medicinal cannabis market

• Product Type:
• Flower
• Concentrates
• Edibles
• Topicals & Transdermals
• Others
• Compound:
• Tetrahydrocannabinol (THC)
• Cannabidiol (CBD)
• Application:
• Cancer
• Arthritis
• Chronic Pain
• Parkinson’s Disease
• Epilepsy
• Others
• Distribution Channel:
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• Region:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa
• Company Profiles:
• BOL Pharma
• Tilray
• Medreleaf Corporation
• Aurora Cannabis Inc.
• Canopy Growth Corporation
• Insys Therapeutics Inc.
• Aphria Inc.
• MGC Pharmaceuticals Limited
• GW Pharmaceuticals plc.
• Medical Marijuana Inc
• Enveric Biosciences
• Pascal Biosciences
• Realize Therapeutics
• Celadon Pharmaceuticals Plc.
• MAK Scientific LLC
• MIRA Pharmaceuticals
• Cardiol Therapeutics