Medical Cannabis - Eastern Europe

Eastern Europe

Revenue in the Medical Cannabis market market in Eastern Europe is forecasted to reach US$7.18m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 5.08%, leading to a market volume of US$9.20m by 2029.
When compared globally, the United States is expected to generate the highest revenue (US$14,530.00m in 2024).
In terms of total population figures, per person revenues of US$2.95k are generated in 2024.
In Eastern Europe, Poland shows promising growth potential in the medical cannabis market with increasing legalization and investment opportunities.

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

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Analyst Opinion

The Medical Cannabis market in Eastern Europe is experiencing a significant growth trajectory driven by changing customer preferences, evolving trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in Eastern Europe are increasingly turning to medical cannabis products due to growing awareness about its potential health benefits and therapeutic properties. There is a shifting preference towards natural and alternative treatments, with many individuals seeking out medical cannabis as a holistic approach to managing various health conditions.

Trends in the market: One of the prominent trends in the Eastern European medical cannabis market is the gradual legalization and regulation of medical cannabis products in different countries within the region. This trend is opening up new opportunities for market players to expand their operations and offerings to cater to the rising demand for medical cannabis products.

Local special circumstances: Eastern Europe has unique cultural and regulatory landscapes that influence the development of the medical cannabis market in the region. Some countries have a long history of using cannabis for medicinal purposes, while others are more conservative in their approach. These varying attitudes and traditions shape the market dynamics and the pace of growth in different Eastern European countries.

Underlying macroeconomic factors: The economic landscape in Eastern Europe plays a crucial role in the growth of the medical cannabis market. Factors such as increasing disposable income levels, changing healthcare policies, and a growing focus on research and development contribute to the expansion of the market. Additionally, the presence of a skilled workforce and a supportive business environment further fuel the development of the medical cannabis industry in the region.

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.