Towards Healthcare
Medical Cannabis Market Size Soars 13.8% of CAGR by 2034

Medical Cannabis Market Size and its Uses in Compounds

The global medical cannabis market valued at USD 14.34 billion in 2024, is anticipated to reach USD 52.23 billion by 2034, growing at a CAGR of 13.8% over the next decade. Chronic pain management led in 2022, holding 52% of the share. North America dominates with a 56% share, driven by early legalization, a strong market presence and increasing popularity.

Introduction

  • Research Objective
  • Scope of the Study
  • Definition and Taxonomy

Research Methodology

  • Research Approach
  • Data Sources
  • Assumptions

Executive Summary

  • Synopsis
  • Analyst Recommendations

Market Overview 

  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Value Chain Analysis
    • Raw Material Sourcing
    • Manufacturing Process
    • Logistics & Transportation
    • Buyer Preferences
  • Trends
    • Market Trends
    • Technological Trends
  • Porter’s Five Forces Analysis
    • Bargaining Power of Suppliers
    • Bargaining Power of Buyers
    • Threat of Substitute
    • Threat of New Entrants
    • Degree of Competition
  • PESTLE Analysis for 5 Leading Countries
    • Regulatory Framework for Leading Countries/Regions
    • Supply Demand Analysis
    • Production & Consumption Statistics
    • Export Import Statistics
    • Price Trend Analysis

Global Medical Cannabis Market Assessment

  • Overview
  • Global Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Type (2021 – 2033)
    • Tetrahydrocannabinol (THC)
    • Cannabidiol (CBD)
    • Other Cannabinoids
  • Global Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Application (2021 – 2033)
    • Chronic Pain Management
    • Mental Health and Neurodegenerative Disorder
    • Oncology
    • Others
  • Global Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Distribution Channel (2021 – 2033)
    • Hospital Pharmacies
    • Retail Pharmacies
    • Online Stores
  • Global Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Geography (2021 – 2033)
    • North America
    • Europe
    • Asia-Pacific
    • Latin America
    • The Middle East and Africa

North America Medical Cannabis Market Assessment

  • Overview
  • North America Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Type (2021 – 2033)
    • Tetrahydrocannabinol (THC)
    • Cannabidiol (CBD)
    • Other Cannabinoids
  • North America Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Application (2021 – 2033)
    • Chronic Pain Management
    • Mental Health and Neurodegenerative Disorder
    • Oncology
    • Others
  • North America Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Distribution Channel (2021 – 2033)
    • Hospital Pharmacies
    • Retail Pharmacies
    • Online Stores

Europe Medical Cannabis Market Assessment

  • Overview
  • Europe Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Type (2021 – 2033)
    • Tetrahydrocannabinol (THC)
    • Cannabidiol (CBD)
    • Other Cannabinoids
  • Europe Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Application (2021 – 2033)
    • Chronic Pain Management
    • Mental Health and Neurodegenerative Disorder
    • Oncology
    • Others
  • Europe Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Distribution Channel (2021 – 2033)
    • Hospital Pharmacies
    • Retail Pharmacies
    • Online Stores

Asia-Pacific Medical Cannabis Market Assessment

  • Overview
  • Asia-Pacific Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Type (2021 – 2033)
    • Tetrahydrocannabinol (THC)
    • Cannabidiol (CBD)
    • Other Cannabinoids
  • Asia-Pacific Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Application (2021 – 2033)
    • Chronic Pain Management
    • Mental Health and Neurodegenerative Disorder
    • Oncology
    • Others
  • Asia-Pacific Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Distribution Channel (2021 – 2033)
    • Hospital Pharmacies
    • Retail Pharmacies
    • Online Stores

Latin America Medical Cannabis Market Assessment

  • Overview
  • Latin America Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Type (2021 – 2033)
    • Tetrahydrocannabinol (THC)
    • Cannabidiol (CBD)
    • Other Cannabinoids
  • Latin America Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Application (2021 – 2033)
    • Chronic Pain Management
    • Mental Health and Neurodegenerative Disorder
    • Oncology
    • Others
  • Latin America Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Distribution Channel (2021 – 2033)
    • Hospital Pharmacies
    • Retail Pharmacies
    • Online Stores

The Middle East and Africa Medical Cannabis Market Assessment

  • Overview
  • The Middle East and Africa Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Type (2021 – 2033)
    • Tetrahydrocannabinol (THC)
    • Cannabidiol (CBD)
    • Other Cannabinoids
  • The Middle East and Africa Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Application (2021 – 2033)
    • Chronic Pain Management
    • Mental Health and Neurodegenerative Disorder
    • Oncology
    • Others
  • The Middle East and Africa Medical Cannabis Market Size Value (US$) and Volume (Billion Tons), by Distribution Channel (2021 – 2033)
    • Hospital Pharmacies
    • Retail Pharmacies
    • Online Stores

Company Profiles

  • Ilray Inc.
    • Company Overview
    • Geographic Footprints
    • Financial Performance
    • Product Portfolio
    • SWOT Analysis
    • R&D Efforts
    • Recent Developments & Strategic Collaborations
      • Product Launch/M&A/Technical Collaboration
  • Canopy Growth Corporation
  • Aurora Cannabis Inc.
  • Endoca
  • Curaleaf Holding Inc.
  • Medical Marijuana Inc.
  • Green Thumb Industry
  • Acreage Holdings
  • GW Pharmaceutical Plc.
  • Folium Europe B.V.

Conclusion & Recommendations

  • Insight Code: 5099
  • No. of Pages: 150+
  • Format: PDF/PPT/Excel
  • Published: May 2025
  • Report Covered: [Revenue + Volume]
  • Historical Year: 2021-2022
  • Base Year: 2023
  • Estimated Years: 2024-2033

About The Author

Rohan Patil is a seasoned market research professional with over 5 years of focused experience in the healthcare sector, bringing deep domain expertise, strategic foresight, and analytical precision to every project he undertakes.

He began his journey with Precedence Research, where he played a pivotal role in developing high-impact healthcare market reports. Today, Rohan leads research initiatives at Towards Healthcare, while also contributing to Statifacts, where he supports cross-industry analysis and data-driven storytelling.

Rohan’s core strengths lie in trend analysis and emerging technologies, regulatory monitoring and thought leadership through high-quality report writing. He excels at identifying future-ready opportunities and translating complex data into strategic recommendations. His work spans pharmaceuticals, biotechnology, medical devices, and digital health, assessing everything from market potential and competitive positioning to customer needs and regulatory shifts.

A trusted advisor and a relentless innovator, Rohan continues to push the boundaries of traditional market research, merging scientific rigor with commercial insight to stay ahead in a fast-evolving healthcare landscape.

FAQ's

Cannabis dispensaries across the country sell products derived from a variety of cannabis strains. While users frequently report varying effects on their symptoms from different strains, research in this area is limited.

Medical cannabis is legal in 38 states. More than two-thirds of US states and the District of Columbia have legalized Medical cannabis in various forms for medical purposes. More bills that would do the same thing are being considered. Some of those states also allow adults to use cannabis recreationally. Medical cannabis laws vary by state, with some prohibiting smoked forms or limiting THC doses.

Medical cannabis can be used to relieve pain. This includes a variety of chronic pain conditions, such as nerve damage, prevent nausea and vomiting, increase appetite.

World Health Organization, Food and Drug Administration, National Institute of Health, Department of Cannabis Control, MedlinePlus.gov, NYC.gov., GOV.UK.