Global Dronabinol Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Dronabinol Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Dronabinol is an active cannabinoid. The molecular formula is C21H30O2, the molecular weight is 314.46200, the boiling point is 155～157℃ (6.7Pa), and the optical rotation is -156 (c=0.34, ethanol). Dronabinol is an antiemetic drug, which is mainly used clinically for nausea and vomiting caused by chemotherapy in cancer patients.

Market Overview:

The latest research study on the global Dronabinol market finds that the global Dronabinol market reached a value of USD 153.4 million in 2022. It’s expected that the market will achieve USD 337.83 million by 2028, exhibiting a CAGR of 14.06% during the forecast period.

Market Drivers and Impact

US
In 2016, the U.S. Food and Drug Administration (FDA) has approved Insys’ dronabinol oral solution, Syndros, an orally administered liquid formulation of the pharmaceutical cannabinoid dronabinol. The FDA’s approval of Syndros may be indicative of a growing movement toward accepting synthetic
forms of marijuana to treat different health issues. With the advancement of the legalization of dronabinol medical policy in the United States, the market demand for dronabinol in the United States will gradually increase.

Canadian

Dronabinol is an active cannabinoid. According to the purpose and function, countries around the world mainly divide cannabis decrees into two categories: recreational use and medical use, and there are corresponding regulations for the cultivation of industrial hemp. On the afternoon of June 20, 2018, Canada passed Bill C-45 (Cannabis Act), officially announcing that Cannabis will be legalized on October 17, becoming the second country since Uruguay to legalize recreational Cannabis. Both recreational and medical Cannabis are legal in Canada after passing the Cannabis Act. These policies have led to increased demand for Dronabinol in the market.

Growing Demand from Key Applications and Potential Industries

Dronabinol, also known as Δ9 -THC, is one of the main active substances in cannabis. THC e-cigarettes also occupy a certain market in e-cigarettes. E-cigarette use among young people has
skyrocketed in recent years and remains at epidemic levels: about one in five high school students used e-cigarettes in 2020, many of whom were not smokers in the first place. In the USA, the 2020 National Youth Tobacco Survey data show that 38.9% of current high school e-cigarette users use e-cigarettes on 20 days or more per month, up from 34.2% in 2019. This shows that e-cigarettes will become a potential development market.

Region Overview:

North America was the largest revenue market with a market share of 67.61% in 2016 and 67.98%
in 2021, an increase of 0.37%. In 2021, the Europe market share was 22.11%, ranking second. In
addition, Asia Pacific Dronabinol market is expected to be the growing market.

Company Overview:

The top three companies are Canopy Growth, Noramco, Benuvia Manufacturing with the revenue market share of 32.11%, 8.93%, 5.06% in 2021.

Segmentation Overview:

Among different product types, 98% segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Capsule segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Dronabinol market covered in Chapter 3:

Noramco
Canopy Growth
Echo Pharmaceuticals
BOL Pharma acturing
Benuvia Manufacturing

In Chapter 4 and Chapter 14.2, on the basis of types, the Dronabinol market from 2018 to 2029 is primarily split into:

98%
99%
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Dronabinol market from 2018 to 2029 covers:

Capsule
Oral Liquid

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)