Legal Marijuana Market 2020 Industry Demand, Business Opportunity, and Trends


Posted November 30, 2020 by shivF26

Global Legal Marijuana Market was valued at USD XX billion in 2018 and is expected to reach USD XX billion in 2026, growing at a CAGR of 21.2% by 2026.
 
Global Legal Marijuana Market was valued at USD XX billion in 2018 and is expected to reach USD XX billion in 2026, growing at a CAGR of 21.2% by 2026. The ripple effect of Coronavirus-COVID19 on the Legal Marijuana Ecosystem Market Ecosystem needs to become part of strategy discussions to emerge strong.

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Legal Marijuana Market are expected to grow at the fastest pace during the forecast period. The main growth factors for the global legal marijuana market include growing intake of medical marijuana for chronic disease treatment and rapid rise in the legalization of marijuana across developed countries. Moreover, product development in various end-use industries across the world is further enhancing demand and sales during the forecast period.

Market Segmentation:
Study of Major Company Profiles:
The major players operating in the global legal marijuana market are Aphria Inc., MedReLeaf Corp., Sprott Inc, Scotts Miracle-Gro Co, Canopy Growth Corp., GW Pharmaceuticals PLC, Aurora Cannabis Inc., Insys Therapeutics Inc. and CanniMed Therapeutics Inc among others.

By Types: Concentrates, Capsules, Edibles, Buds, Oil, Others

By Application: Chronic Pain, Mental Disorders, Cancer, Others

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Based on applications, Based on application, the market has been segmented into cancer, immunodeficiencies and others. Cancer application segment accounts of the largest share in the market and is expected to grow at a CAGR of around 8% during the forecast period. The major factors that are driving the growth of this segment are the rising prevalence of cancer and the fact that most of the Legal Marijuana currently undergoing clinical trials are targeted towards cancer and related diseases.

Based on type, the new installation segment is expected to lead during the forecast period
Based on type, the Legal Marijuana market has been segmented into F(ab) fragments, F(ab')2 fragments, Single-chain Variable Fragments (scFvs) and Single Domain Legal Marijuana (sdAbs) and others. The F(ab) and F(ab')2 are the first generation of Legal Marijuana. The first generation of Legal Marijuana together accounted for more than 50% of the share in the base year.

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By Region Analysis:
1.North America (US and Canada)
2.Europe (UK, Germany, France and Rest of Europe)
3.Asia Pacific (China, Japan, India and Rest of Asia Pacific)
4.Latin America (Brazil, Mexico and Rest of Latin America)
5.Middle East & Africa (GCC and Rest of Middle East & Africa)

North America to dominate the Legal Marijuana market throughout the forecast period
North America accounted for more than 35% share of the global Legal Marijuana market in 2018 and is expected to dominate the market throughout the forecast period. The major factors for the dominance of this region in the Legal Marijuana market include the high prevalence of target diseases in this region, the favourable reimbursement scenario, and high quality of the healthcare infrastructure.
And more...

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Categories Biotech
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Last Updated November 30, 2020