Medical Marijuana Industry - Regional Synopsis
On the basis of region-wise analysis, the medical marijuana market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The North America industry is likely to dominate majority revenue share by 2037, as a result of legalization of the drug in several parts of the region and increased knowledge of the medicinal properties of the drug are anticipated to result in a high acceptance of the drug in this region. This may end up in the legalization of the drug in this region considering the medical benefits.
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Frequently Asked Questions (FAQ)
In the year 2025, the industry size of medical marijuana is evaluated at USD 22.99 billion.
Medical Marijuana Market size was valued at USD 19.42 billion in 2024 and is set to exceed USD 246.82 billion by 2037, expanding at over 21.6% CAGR during the forecast period i.e., between 2025-2037.
North America industry is likely to dominate majority revenue share by 2037, as a result of legalization of the drug in several parts of the region and increased knowledge of the medicinal properties of the drug.
The major players in the market are Aphria Inc., Canopy Growth Corp., Tilray, GW Pharmaceuticals plc, Aurora Cannabis, Maricann Group Inc., Lexaria Corp., Tikun Olam Ltd., United Cannabis Corp., and others.
