Medical Cannabis - Croatia

Croatia

In Croatia, the revenue in the Medical Cannabis market market is forecasted to reach US$35.90m by 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 3.45%, leading to a market volume of US$42.53m by 2029.
When compared globally, the United States is expected to generate the highest revenue, amounting to US$14,530.00m in 2024.
In terms of per capita figures, US$12.20k in revenue is generated per person in 2024.
Croatia's medical cannabis market shows promising growth potential with evolving regulations and increasing awareness among healthcare professionals.

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

Market

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Currency

Analyst Opinion

The Medical Cannabis market in Croatia is experiencing significant growth and development.

Customer preferences: Customers in Croatia are increasingly turning to medical cannabis products due to growing awareness about the potential health benefits of cannabis-based treatments. The shift towards natural and alternative remedies is driving demand for medical cannabis products among consumers seeking relief from various medical conditions.

Trends in the market: One of the key trends in the Croatian Medical Cannabis market is the expanding product offerings and availability. As more research is conducted on the therapeutic properties of cannabis, companies are introducing a wider range of medical cannabis products to cater to different patient needs. This trend is not only driven by domestic demand but also influenced by the global expansion of the medical cannabis market.

Local special circumstances: Croatia's progressive stance on medical cannabis legalization has created a conducive environment for the growth of the market. The country legalized the use of medical cannabis in 2015, allowing patients to access cannabis-based medicines with a prescription. This regulatory framework has attracted local and international players to invest in the Croatian market, further fueling its development.

Underlying macroeconomic factors: The economic landscape in Croatia plays a significant role in shaping the Medical Cannabis market. With a growing focus on healthcare and wellness, the demand for medical cannabis is expected to rise in the coming years. Additionally, Croatia's strategic location in Europe makes it a potential hub for medical cannabis trade within the region, contributing to the market's expansion.

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.