08 Apr 2020
Legal Marijuana Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2018-2024". Fast acceptance of medicinal marijuana increasing demand in medical sector such as glaucoma, asthma, respiratory disorders, Alzheimer’s disease, reduces muscle spasm, helps to decrease the disorder called Dravet's syndrome and others are key drivers for growth of Global Legal Marijuana Market.
Global Legal Marijuana Market Reports –
Marijuana is a greenish mixture of dried leaves torn leaves, stems, seeds, and flowers of the plant Cannabis sativa. Marijuana is also commonly known as Cannabis and Hemp. Marijuana contains more than 350 chemicals such as more than 30% Cannabinoids (CBD) and the mind-altering chemical Tetra Hydro Cannabinol (THC), which acts as psychoactive element. THC acts on particular brain cell receptors which react with natural THC-like chemicals. These natural chemicals play a vital role in development and functioning of brain. When a person smokes marijuana, THC rapidly passes from the lungs into the blood. The blood carries the chemical to the brain and other organs through the body. When the person eats or drinks then body absorbs THC more slowly. In this case, they generally feel the effects after 1 hour. Marijuana is one of the superior modifications of cannabis, is used for recreational (psychoactive drugs) and medicinal purposes. Many countries are allowing the sale of marijuana for recreational purposes due to excessive tax revenue generated from the market. Also, consumption of marijuana in some countries is banned due to its addictive property and has been related with narcotics such as Heroin. They are frequently mixed into foods such as cookies, brownies, and candies. Stronger form of marijuana includes Sinsemilla from special cultivated female flowering plants and concentrated resins including high-doses of marijuana’s active ingredients includes honey like hash oil, hard amber like shatter and waxy budder i.e., cannabis extracts with a creamy and buttery consistency.
Extracts can also be made from the cannabis. People can mix marijuana in food and edibles such as brownies, cookies, candy, brew it as a tea. Smoking or eating different forms of THC-rich resins is a newly popular method of using Marijuana.
Short-Term Effects such as short-term memory problems, Severe anxiety, Very strange behavior, hearing or smelling things that aren’t there, psychosis, Panic, Hallucinations, Loss of sense of personal identity, Less reaction time, risk of heart attack, greater risk of stroke, difficulties in safe driving or playing sports and Sexual problems for males.
Long-Term Effects such as Drop in Intelligence Quotient up to 7 points if continued use started in teenage, Poor school performance and higher chance of dropping out, Impaired thinking, difficult to learn and perform complex tasks, decreased life satisfaction, Addiction about 8% of adults and 16% of people who started smoking as teenagers, Potential development of opiate abuse, Relationship problems, intimate partner violence, Antisocial behavior including robbery, Financial problems, Increased welfare dependence, Greater chances of not getting good jobs.
Global Legal Marijuana Market is segmented on the basis of Marijuana Type, Consumption Type, Application and Geography. On the Basis of Marijuana Type, Global Legal Marijuana Market is classified as medical and recreational. On the basis of Consumption Type Global Legal Marijuana Market is classified into Solid, Liquid, Inhalation and Topical. On the basis of Application Global Legal Marijuana Market is classified as Chronic Pain, Mental Disorders, and Cancer, Others (AIDS, Amyotrophic Lateral Sclerosis and Parkinson ’s disease).
The regions covered in Global Legal Marijuana Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, Global Melanoma Drug Market sub divided in to U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
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Key Players for Global Legal Marijuana Market Reports –
Global Legal Marijuana Market reports cover prominent players like Medicine Man (U.S.), AmeriCann, Inc. (U.S.), Novus Acquisition & Development (U.S.), Abattis Bioceuticals Corp (Canada), GW Pharmaceuticals (U.K.), Canopy Growth (Canada), Insys Therapeutics (U.S.)
Global Legal Marijuana Market Dynamics –
Many health benefits associated with Marijuana is growing its application in the Pharmaceutical sector. The demand for legal Marijuana is increasing for recreational activity, which is driving the growth of the market. The Global Legal Marijuana Market is also driven by rising demand for Marijuana in medical sector, in the treatment of glaucoma; used to treat asthma respiratory complication slows progression of Alzheimer’s disease, reduces muscle spasm, decrease the chance of Dravet’s syndrome and others. In addition, growing occurrence of chronic diseases among population and various beneficial chemicals found in marijuana, which can be used for relief from chronic pain, reduce nausea & vomiting and increases hunger during chemotherapy are other factors likely to support growth of the Global Legal Marijuana Market. Moreover, rising mental disorder and presence of tetrahydrocannabinol (THC) in Marijuana can be used to cure mental disorder is other factor likely to boost growth of the Global Legal Marijuana Market.
In spite of lots of medical applications of Marijuana, it also causes addiction after long term consumption, creates hallucinations, thus this may hamper the market growth. However, stringent government regulations related to use of marijuana as it may have short term and long term side effects on health is a major factor restraining growth of the global legal marijuana market. Additionally, common side effects of Marijuana such as increased talkativeness and laughter alternating with periods of introspective dreaminess, fatigue and sleepiness is probably a challenge for growth of the Global Legal Marijuana Market.
Legalization of marijuana by developed countries for medical purposes where active chemical compounds in Marijuana can be used for treatment of various chronic diseases such as cancer AIDS, ALS, Crohn’s and Parkinson’s disease. Also increasing Research & Development activities and government spending on healthcare sector demands for cannabis for clinical use are major factors which drive the growth of the Global Legal Marijuana Market.
Global Legal Marijuana Market Regional Analysis –
North America is expected to account for largest market (in terms of value and volume both) owing to legalization of Marijuana in developed countries, use of Marijuana in illegal drugs and Pharmaceutical sector and presence of key players in this region. This can be also attributed to increasing pool of patient suffering from chronic diseases, well developed healthcare sector and favorable reimbursement policies. Europe market accounts for second-largest revenue share in the global legal marijuana market followed by markets in Asia Pacific, Latin America and Middle East & Africa respectively. The market in Asia Pacific is projected to register highest CAGR in terms of revenue over the forecast period, owing to increasing government expenditure on healthcare sector in emerging countries in this region.
Endless research on the Marijuana to show value-added products from cannabis strains have been contributing to the growth of the Global Legal Marijuana Market from the past few years.
Furthermore, increase in awareness through various government and NGO campaigns of disease and government initiatives for improving health care facilities are expected to boost the regional market to a certain extent.
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Key Benefits for Global Legal Marijuana Market Reports –
- Global Legal Marijuana Market report covers in depth historical and forecast analysis.
- Global Legal Marijuana Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Global market sale (K Units), Global market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global Legal Marijuana Market report helps to identify opportunities in market place.
- Global Legal Marijuana Market report covers extensive analysis of emerging trends and competitive landscape.
Global Legal Marijuana Market Segmentation –
By Marijuana Type Analysis
By Consumption Type Analysis
Solid, Liquid, Inhalation, Topical, Others
By Application Analysis
Chronic Pain, Mental Disorders, Cancer, Others (AIDS, Amyotrophic Lateral Sclerosis and Parkinson ’s disease)
North America (US., Canada), Europe (UK., France, Germany, Italy), Asia Pacific (China, Japan, India, Southeast Asia), Latin America (Brazil, Mexico), Middle East and Africa (GCC, Africa, Rest of Middle East and Africa)
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