The global medical marijuana market is expected to witness considerable growth during the forecast period on account of the rise in the number of countries legalizing the consumption of the drug for medicinal purposes and its potential application in the treatment of several chronic diseases. Increasing awareness among healthcare providers and individuals regarding the benefits of medicinal marijuana will also support the market growth in the future. Moreover, growing investments (by both private and public organizations) in research associated with the use of marijuana for medical purposes are expected to continue driving the market growth.
On the basis of application, the medical marijuana market is categorized into chronic pain, arthritis, migraine, cancer, and others. Among these, chronic pain is the largest application area of medical marijuana and is expected to continue leading the market during the coming years. This can be attributed to the increasing prevalence of chronic diseases and rising awareness among patients and healthcare providers regarding the potential benefits of using marijuana for relieving chronic pain.