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Report Scope:
This report represents a current and important business tool to evaluate technologies, trends, products, and market participants in the cannabis sector. The geographic scope of this study covers the U. S. and companies worldwide. The report identifies the main elements of cannabis products and trends in different type of industries.
Report Includes:
- 72 data tables and 17 additional tables
- A brief overview of the commercial potential of cannabis products, technologies and applications' markets
- Analyses of the global market trends in cannabis space, with data from 2018, estimates for 2019, and projections of compound annual growth rates (CAGRs) through 2024
- Information on cannabis cultivators, manufacturers and other market participants related to drug development industry, instrumentation, testing facilities and other market players
- Assessment on the role of government regulations, technological advancements, legalization of marijuana across several states, and the economic factors that affect the growth of the cannabis market
- A relevant patent analysis with data corresponding to cannabis related products and applications in drug discovery and development, recreational sector, supplemental products, and hemp related products
- Company profiles of leading market participants dealing in cannabis products within the drug development industry, including Aphria Inc., Aurora Cannabis Inc., C4 Laboratories, Canopy Growth Corp., and GW Pharmaceuticals
Summary
The cannabis plant is known for its psychoactive as well as medical benefits. While it is still illegal under U.S. federal law to use and possess marijuana, at present 34 states, the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands have approved comprehensive, publicly available medical marijuana/cannabis programs.
Indeed, the cannabis/marijuana plant has at least 80 cannabinoids, a chemical compound that interacts with cannabinoid receptors in the brain and which is responsible for the plant's physiological effects. THC and CBD are the most known and studied compounds.
The cannabis market can be divided into number of sectors -
- Cannabis cultivation and growing and production of marijuana plants.
- Extraction, processing and packaging of the plant.
- Analytical testing of cannabis plant and products.
- Distribution and sales of cannabis products.
- Drug development of cannabis-related compounds.
Moreover, it is obvious that cannabis market has direct and indirect influence on other industries. For example, hemp and its related products are becoming more popular in variety of applications, including dietary supplements, textiles, biofuels, paper, and more. This also includes CBD product development from the marijuana plant or hemp for treatment of a variety of medical conditions.
All sectors in cannabis market are interconnected and influence each other in a positive way. In general, since the cannabis market consists of a number of sectors, it has a variety of market participants, from small, home-based facilities to big, extended farms, to companies that provide unique equipment or specific extraction services, to versatile companies offering a number of different products, brands and services.
This report will analyze market participants and estimate the value for each of the sectors listed above.
The global cannabis market in 2019 is valued at REDACTED, with the potential to reach REDACTED by 2024.
Importantly, legalization of marijuana/cannabis affects not only this market expansion, but additional cannabis-related industries such as the hemp industry and CBD-containing products. Both of these sectors are billion-dollar markets.
In spite of certain challenges, such as inconsistent legalization and regulations by different agencies, the cannabis industry is expected to grow exponentially over the next five years. This will have a positive effect on related industries, and will help to bring new products and technologies to consumers and patients.
Industry insiders believe that as the cannabis legalization trend gains more strength and favorable approaches emerge from regulatory agencies such as the U.S. Food and Drug Administration (FDA), additional approved cannabis-related drugs are expected to appear on the market in the next five years.