Cannabis Pharmaceuticals Market Size, Share & Trends Analysis Report By Brand Type (Sativex, Epidiolex, Other Brands), By Region (North America, Middle East And Africa, Asia Pacific, Europe), And Segment Forecasts, 2024 - 2030

Cannabis Pharmaceuticals Market Size, Share & Trends Analysis Report By Brand Type (Sativex, Epidiolex, Other Brands), By Region (North America, Middle East And Africa, Asia Pacific, Europe), And Segment Forecasts, 2024 - 2030


Cannabis Pharmaceuticals Market Growth & Trends

The global cannabis pharmaceuticals market size is expected to reach USD 102.4 billion by 2030, expanding at a CAGR of 53.3% from 2024 to 2030, according to a new study by Grand View Research, Inc. Growing use of cannabis in various medical applications is driving the global pharmaceutical cannabis market growth. For instance, cannabis is widely used for treating patients suffering from chronic conditions, such as Parkinson’s disease, cancer, arthritis, and Alzheimer’s disease, as well as neurologic problems, such as depression, anxiety, & epilepsy. Moreover, there is a growing disease burden of chronic pain and pain management therapies. This, in turn, is increasing cannabis product consumption as it is effective in pain management.

The market has undergone substantial changes in recent years, driven by increased global acceptance and legalization for medical use. This development has led to a notable rise in patent applications for cannabis-based pharmaceuticals. For instance, in October 2023, SciSparc Ltd., a specialized clinical-stage pharmaceutical company focusing on creating treatments for central nervous system disorders and rare diseases, announced that its patent application for the Combinations of Cannabinoids and N-Acylethanolamines (the "Patent") had been officially accepted. The patent was awarded by IP Australia, the Australian government agency responsible for managing intellectual property rights and patent legislation. Accepting such patents is vital for promoting innovation, allowing companies to safeguard their inventions and stimulate further research and development. This trend is expected to persist as the medicinal benefits of cannabinoids gain wider acknowledgment, potentially offering new treatment options for patients worldwide.

Furthermore, various companies and research institutes in the cannabis industry are conducting research studies to validate claims associated with CBD products, which is fueling market growth. This trend is further supported by the introduction of innovative products to meet the increasing consumer demand. According to the U.S. Food and Drug Administration (FDA) study published in February 2023, the FDA has given its approval to Epidiolex, a medication that contains a refined version of cannabidiol (CBD), for the treatment of seizures linked to Lennox-Gastaut syndrome or Dravet syndrome in patients aged 2 years and above. The FDA has also authorized the use of Marinol and Syndros for medical purposes in the U.S. These medications are approved for improving nausea caused by cancer chemotherapy and for managing anorexia leading to weight loss in patients with AIDS. In November 2021, Colorado State University inaugurated a new research center dedicated to CBD. Similarly, in the same month, AMP Alternative Medical Products GmbH, a subsidiary of Greenrise Global Brands, Inc., launched a Dronabinol product in the German market.

Moreover, companies are implementing diverse strategies to enhance their market presence. For instance, in March 2024, Brains Bioceutical Corp, also known as Brains Bio, a company in the pharmaceutical industry's cannabinoid sector, revealed its achievement in developing the world's first solid form of Tetrahydrocannabinol (THC) for use as an Active Pharmaceutical Ingredient (API). In November 2021, Avicanna, a biopharmaceutical firm, finalized an intellectual property (IP) and distribution agreement with a well-established pharmaceutical company in Argentina. As part of this agreement, Avicanna is expected to grant a nonexclusive license for its proprietary 10% CBD pharmaceutical drug preparation.

Cannabis Pharmaceuticals Market Report Highlights
  • Based on brand type, Epidiolex segment accounted for the revenue share in 2023 owing to the high demand among healthcare practitioners and patients for medicinal cannabis
  • In 2023, Europe dominated the overall market with a revenue share of 41.9% owing to increasing cannabis consumption, as well as rising awareness and positive attitude towards cannabis and its products. North America was among the first regions to legalize the use of medical and recreational cannabis.
  • Some of the major players operating in this space are Jazz Pharmaceuticals, Inc., AbbVie, Inc., Insys Therapeutics, Inc., Bausch Health Companies, Inc.
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Chapter 1. Cannabis Pharmaceuticals Market: Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Segment Definitions
1.2.1. Brand Type
1.2.2. Regional scope
1.2.3. Estimates and forecasts timeline
1.3. Research Methodology
1.4. Information Procurement
1.4.1. Purchased database
1.4.2. GVR’s internal database
1.4.3. Secondary sources
1.4.4. Primary research
1.4.5. Details of primary research
1.5. Information or Data Analysis
1.5.1. Data analysis models
1.6. Market Formulation & Validation
1.7. Model Details
1.7.1. Commodity flow analysis (Model 1)
1.7.2. Approach 1: Commodity flow approach
1.7.3. Volume price analysis (Model 2)
1.7.4. Approach 2: Volume price analysis
1.8. List of Secondary Sources
1.9. List of Primary Sources
1.10. Objectives
Chapter 2. Cannabis Pharmaceuticals Market: Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Brand type outlook
2.2.2. Regional outlook
2.3. Competitive Insights
Chapter 3. Cannabis Pharmaceuticals Market: Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.2. Market restraint analysis
3.3. Cannabis Pharmaceuticals Market Analysis Tools
3.3.1. Industry Analysis - Porter’s
3.3.1.1. Supplier power
3.3.1.2. Buyer power
3.3.1.3. Substitution threat
3.3.1.4. Threat of new entrant
3.3.1.5. Competitive rivalry
3.3.2. PESTEL Analysis
3.3.2.1. Political landscape
3.3.2.2. Technological landscape
3.3.2.3. Economic landscape
Chapter 4. Cannabis Pharmaceuticals Market: Brand Type Estimates & Trend Analysis
4.1. Brand Type Market Share, 2023 & 2030
4.2. Segment Dashboard
4.3. Global Cannabis Pharmaceuticals Market by Brand Type Outlook
4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
4.4.1. Sativex
4.4.1.1. Market estimates and forecasts 2018 to 2030 (USD Million)
4.4.2. Epidiolex
4.4.2.1. Market estimates and forecasts 2018 to 2030 (USD Million)
4.4.3. Other Brands
4.4.3.1. Market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 5. Cannabis Pharmaceuticals Market: Regional Estimates & Trend Analysis
5.1. Regional Market Share Analysis, 2023 & 2030
5.2. Regional Market Dashboard
5.3. Global Regional Market Snapshot
5.4. Market Size, & Forecasts Trend Analysis, 2018 to 2030:
5.5. North America
5.5.1. U.S.
5.5.1.1. Key country dynamics
5.5.1.2. Regulatory framework/ reimbursement structure
5.5.1.3. Competitive scenario
5.5.1.4. U.S. market estimates and forecasts 2018 to 2030 (USD Million)
5.5.2. Canada
5.5.2.1. Key country dynamics
5.5.2.2. Regulatory framework/ reimbursement structure
5.5.2.3. Competitive scenario
5.5.2.4. Canada market estimates and forecasts 2018 to 2030 (USD Million)
5.6. Europe
5.6.1. UK
5.6.1.1. Key country dynamics
5.6.1.2. Regulatory framework/ reimbursement structure
5.6.1.3. Competitive scenario
5.6.1.4. UK market estimates and forecasts 2018 to 2030 (USD Million)
5.6.2. Germany
5.6.2.1. Key country dynamics
5.6.2.2. Regulatory framework/ reimbursement structure
5.6.2.3. Competitive scenario
5.6.2.4. Germany market estimates and forecasts 2018 to 2030 (USD Million)
5.6.3. France
5.6.3.1. Key country dynamics
5.6.3.2. Regulatory framework/ reimbursement structure
5.6.3.3. Competitive scenario
5.6.3.4. France market estimates and forecasts 2018 to 2030 (USD Million)
5.6.4. Netherlands
5.6.4.1. Key country dynamics
5.6.4.2. Regulatory framework/ reimbursement structure
5.6.4.3. Competitive scenario
5.6.4.4. Netherlands market estimates and forecasts 2018 to 2030 (USD Million)
5.6.5. Italy
5.6.5.1. Key country dynamics
5.6.5.2. Regulatory framework/ reimbursement structure
5.6.5.3. Competitive scenario
5.6.5.4. Italy market estimates and forecasts 2018 to 2030 (USD Million)
5.6.6. Spain
5.6.6.1. Key country dynamics
5.6.6.2. Regulatory framework/ reimbursement structure
5.6.6.3. Competitive scenario
5.6.6.4. Spain market estimates and forecasts 2018 to 2030 (USD Million)
5.6.7. Croatia
5.6.7.1. Key country dynamics
5.6.7.2. Regulatory framework/ reimbursement structure
5.6.7.3. Competitive scenario
5.6.7.4. Norway market estimates and forecasts 2018 to 2030 (USD Million)
5.6.8. Poland
5.6.8.1. Key country dynamics
5.6.8.2. Regulatory framework/ reimbursement structure
5.6.8.3. Competitive scenario
5.6.8.4. Sweden market estimates and forecasts 2018 to 2030 (USD Million)
5.6.9. Czech Republic
5.6.9.1. Key country dynamics
5.6.9.2. Regulatory framework/ reimbursement structure
5.6.9.3. Competitive scenario
5.6.9.4. Denmark market estimates and forecasts 2018 to 2030 (USD Million)
5.6.10. Switzerland
5.6.10.1. Key country dynamics
5.6.10.2. Regulatory framework/ reimbursement structure
5.6.10.3. Competitive scenario
5.6.10.4. Denmark market estimates and forecasts 2018 to 2030 (USD Million)
5.7. Asia Pacific
5.7.1. Japan
5.7.1.1. Key country dynamics
5.7.1.2. Regulatory framework/ reimbursement structure
5.7.1.3. Competitive scenario
5.7.1.4. Japan market estimates and forecasts 2018 to 2030 (USD Million)
5.7.2. Australia
5.7.2.1. Key country dynamics
5.7.2.2. Regulatory framework/ reimbursement structure
5.7.2.3. Competitive scenario
5.7.2.4. Australia market estimates and forecasts 2018 to 2030 (USD Million)
5.7.3. New Zealand
5.7.3.1. Key country dynamics
5.7.3.2. Regulatory framework/ reimbursement structure
5.7.3.3. Competitive scenario
5.7.3.4. South Korea market estimates and forecasts 2018 to 2030 (USD Million)
5.8. Latin America
5.8.1. Brazil
5.8.1.1. Key country dynamics
5.8.1.2. Regulatory framework/ reimbursement structure
5.8.1.3. Competitive scenario
5.8.1.4. Brazil market estimates and forecasts 2018 to 2030 (USD Million)
5.8.2. Mexico
5.8.2.1. Key country dynamics
5.8.2.2. Regulatory framework/ reimbursement structure
5.8.2.3. Competitive scenario
5.8.2.4. Mexico market estimates and forecasts 2018 to 2030 (USD Million)
5.8.3. Argentina
5.8.3.1. Key country dynamics
5.8.3.2. Regulatory framework/ reimbursement structure
5.8.3.3. Competitive scenario
5.8.3.4. Argentina market estimates and forecasts 2018 to 2030 (USD Million)
5.8.4. Colombia
5.8.4.1. Key country dynamics
5.8.4.2. Regulatory framework/ reimbursement structure
5.8.4.3. Competitive scenario
5.8.4.4. Colombia market estimates and forecasts 2018 to 2030 (USD Million)
5.8.5. Uruguay
5.8.5.1. Key country dynamics
5.8.5.2. Regulatory framework/ reimbursement structure
5.8.5.3. Competitive scenario
5.8.5.4. Uruguay market estimates and forecasts 2018 to 2030 (USD Million)
5.8.6. Chile
5.8.6.1. Key country dynamics
5.8.6.2. Regulatory framework/ reimbursement structure
5.8.6.3. Competitive scenario
5.8.6.4. Chile market estimates and forecasts 2018 to 2030 (USD Million)
5.8.7. Peru
5.8.7.1. Key country dynamics
5.8.7.2. Regulatory framework/ reimbursement structure
5.8.7.3. Competitive scenario
5.8.7.4. Peru market estimates and forecasts 2018 to 2030 (USD Million)
5.9. MEA
5.9.1. South Africa
5.9.1.1. Key country dynamics
5.9.1.2. Regulatory framework/ reimbursement structure
5.9.1.3. Competitive scenario
5.9.1.4. South Africa market estimates and forecasts 2018 to 2030 (USD Million)
5.9.2. Isarel
5.9.2.1. Key country dynamics
5.9.2.2. Regulatory framework/ reimbursement structure
5.9.2.3. Competitive scenario
5.9.2.4. Saudi Arabia market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 6. Competitive Landscape
6.1. Recent Developments & Impact Analysis, By Key Market Participants
6.2. Company/Competition Categorization
6.3. Vendor Landscape
6.3.1. List of key distributors and channel partners
6.3.2. Key customers
6.3.3. Key company market share analysis, 2023
6.3.4. Canopy Growth Corporation
6.3.4.1. Company overview
6.3.4.2. Financial performance
6.3.4.3. Product benchmarking
6.3.4.4. Strategic initiatives
6.3.5. Jazz Pharmaceuticals, Inc.
6.3.5.1. Company overview
6.3.5.2. Financial performance
6.3.5.3. Product benchmarking
6.3.5.4. Strategic initiatives
6.3.6. AbbVie, Inc.
6.3.6.1. Company overview
6.3.6.2. Financial performance
6.3.6.3. Product benchmarking
6.3.6.4. Strategic initiatives
6.3.7. Insys Therapeutics, Inc.
6.3.7.1. Company overview
6.3.7.2. Financial performance
6.3.7.3. Product benchmarking
6.3.7.4. Strategic initiatives
6.3.8. Bausch Health Companies, Inc.
6.3.8.1. Company overview
6.3.8.2. Financial performance
6.3.8.3. Product benchmarking
6.3.8.4. Strategic initiatives

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