Medical Cannabis - Central & Western Europe

Central & Western Europe

In Central & Western Europe, the revenue in the Medical Cannabis market market is forecasted to reach US$1.04bn in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 3.58%, leading to a market volume of US$1.24bn 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 capita income, individuals in Central & Western Europe are projected to generate revenues of US$1.45k in 2024.
Germany leads Central & Western Europe in medical cannabis research, driving innovation and shaping regulations for the growing market.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Medical Cannabis market in Central & Western Europe has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Central & Western Europe are increasingly turning to medical cannabis as an alternative form of treatment for various health conditions. The shift towards natural and holistic remedies, coupled with growing awareness about the potential therapeutic benefits of cannabis, has driven demand in the region.

Trends in the market: In countries like Germany and the Netherlands, medical cannabis has been legalized for certain medical conditions, leading to a rise in patient registrations and prescriptions. This has created opportunities for both domestic and international cannabis companies to enter the market and provide a diverse range of products to meet the growing demand.

Local special circumstances: Each country in Central & Western Europe has its own regulations and policies regarding the cultivation, distribution, and use of medical cannabis. For example, in France, medical cannabis is only available to patients enrolled in a pilot program, while in Italy, the government has been gradually expanding access to medical cannabis through pharmacies.

Underlying macroeconomic factors: The increasing acceptance and legalization of medical cannabis in Central & Western Europe can be attributed to shifting societal attitudes, advancements in medical research, and the potential economic benefits associated with the cannabis industry. As governments look to capitalize on this growing market, they are enacting policies to regulate the industry and ensure patient safety and product quality.

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.