Europe Medical Cannabis Market Research Report 2023, Size, Share, Trends and Forecast 2028

SHERIDAN, WYOMING, UNITED STATES, March 1, 2023 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Europe Medical Cannabis Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the Europe medical cannabis market size reached US$ 1,743 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 6,458 Million by 2028, exhibiting a growth rate (CAGR) of 22.1% during 2023-2028.

Medical cannabis refers to plant-derived psychotropic drugs to treat numerous medical problems among individuals. It is manufactured from indica, sativa, and hybrid and comprise active ingredients, such as cannabidiol (CBD) and tetrahydrocannabinol (THC) or DELTA-8-tetrahydrocannabinol. It is widely consumed in the form of oral solutions and capsules, smoke vaporizers, and topicals. It is utilized in pain management, anxiety, muscle spasms, nausea, appetite loss, cancer, arthritis, Alzheimer’s disease, migraine, depression, sleep disorders, multiple sclerosis, autism, and mental health conditions. Consequently, it finds applications in hospitals, home care settings, and rehabilitation centers across Europe.

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Market Trends

At present, the increasing utilization of medical cannabis due to its legalization for medical purposes represents one of the key factors propelling the market growth in Europe. In addition, the rising demand for medical cannabis to treat numerous diseases among individuals is offering a positive market outlook across the region. Apart from this, the escalating demand for medical cannabis among individuals due to various therapeutic effects of cannabis is contributing to the market growth. Moreover, the increasing demand for medical cannabis for numerous cancer treatments is bolstering the growth of the market in the region. Furthermore, the rising demand for medical cannabis to enhance mood and reduces stress and anxiety is strengthening the growth of the market in Europe.

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Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

The report has segmented the market on the basis of species, derivative, application, end use, route of administration and country.

Breakup by Species:

Indica
Sativa
Hybrid

Breakup by Derivative:

Cannabidiol (CBD)
Tetrahydrocannabinol (THC)
Others

Breakup by Application:

Cancer
Arthritis
Migraine
Epilepsy
Others

Breakup by End Use:

Pharmaceutical Industry
Research and Development Centres
Others

Breakup by Route of Administration:

Oral Solutions and Capsules
Smoking
Vaporizers
Topicals
Others

Breakup by Country:

Germany
France
United Kingdom
Italy
Spain
Others

Key highlights of the report:

Market Performance (2017-2022)
Market Outlook (2023- 2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
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