Medical Cannabis - Argentina

Argentina

In Argentina, the revenue in the Medical Cannabis market market is forecasted to reach US$67.54m by 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 1.98%, leading to a market volume of US$74.49m by 2029.
When compared globally, the United States is expected to generate the highest revenue (US$14,530.00m in 2024).
In terms of per person revenues in 2024, US$7.28k are generated concerning total population figures.
Argentina's medical cannabis market shows promising growth potential, driven by increasing public acceptance and regulatory reforms in the country.

Key regions: Australia, Europe, South Africa, United States, Netherlands

Market

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Currency

Analyst Opinion

Argentina has seen a significant growth in the Medical Cannabis market in recent years.

Customer preferences: Consumers in Argentina are increasingly turning to Medical Cannabis products due to their perceived health benefits and effectiveness in treating various medical conditions. The shift towards natural and alternative remedies has driven demand for Medical Cannabis in the country.

Trends in the market: One notable trend in the Medical Cannabis market in Argentina is the increasing acceptance and legalization of medical marijuana. As more research highlights the therapeutic properties of cannabis, there has been a growing acceptance of its use in medical settings. This trend has led to a rise in the number of patients seeking Medical Cannabis treatments.

Local special circumstances: Argentina's progressive regulations and policies surrounding Medical Cannabis have played a crucial role in shaping the market in the country. The government's efforts to legalize and regulate the use of Medical Cannabis have created a conducive environment for industry growth. Additionally, the presence of local Medical Cannabis producers has helped meet the rising demand for medical marijuana products in Argentina.

Underlying macroeconomic factors: The economic landscape in Argentina, including factors such as inflation and currency fluctuations, has influenced the Medical Cannabis market in the country. Despite economic challenges, the Medical Cannabis industry has shown resilience and continues to expand as more patients opt for alternative medical treatments. The market's growth can also be attributed to the increasing investment in research and development within the Medical Cannabis sector in Argentina.

Methodology

Data coverage:

Data encompasses B2B and B2C enterprises. Figures are based on companies' revenues, funding values and global consumer survey data. Revenues include retail, sales and taxes.

Modeling approach / Market size:

Market sizes are determined by a Top-Down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use financial reports, third-party data. Next, we use relevant key market indicators and data from country-specific associations such as tobacco spending per capita, medical product spending per capita, consumer spending and consumer spending for recreation purposes, population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, S-Curve function, ARIMA time series model and exponential curve function.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. GCS data is reweighted for representativeness.