Medical Cannabis - Lebanon

Lebanon

Lebanon is projected to reach a revenue of US$21.86m in the Medical Cannabis market market by 2024.
The market is expected to experience an annual growth rate (CAGR 2024-2029) of 2.79%, leading to a market volume of US$25.08m by 2029.
When compared globally, the United States is anticipated to generate the highest revenue of US$14,530.00m in 2024.
In terms of per person revenues in 2024, US$9.36k are generated based on total population figures.
Lebanon is navigating regulatory challenges to establish itself as a key player in the emerging medical cannabis market.

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

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Analyst Opinion

Lebanon has been gradually making strides in the Medical Cannabis market, reflecting global trends towards the acceptance and legalization of cannabis for medical purposes.

Customer preferences: Consumers in Lebanon are increasingly seeking alternative and natural remedies for various health conditions, driving the demand for medical cannabis products. The shift towards more holistic approaches to healthcare is influencing individuals to explore the potential benefits of cannabis-based treatments.

Trends in the market: One notable trend in the Lebanese Medical Cannabis market is the growing acceptance and legalization of cannabis for medical use. This trend aligns with the global movement towards recognizing the therapeutic properties of cannabis and the increasing legalization of medical cannabis in various countries. As Lebanon establishes regulations and frameworks for the production and distribution of medical cannabis, the market is expected to witness significant growth and development.

Local special circumstances: Lebanon's unique geographical location and climate provide ideal conditions for cultivating high-quality cannabis. The country has a long history of cannabis cultivation, and the expertise of local farmers in cultivating cannabis could give Lebanon a competitive edge in the Medical Cannabis market. Additionally, Lebanon's rich history of herbal medicine and traditional remedies could contribute to the acceptance and integration of medical cannabis within the healthcare system.

Underlying macroeconomic factors: The development of the Medical Cannabis market in Lebanon is also influenced by macroeconomic factors such as the need for economic diversification and job creation. The establishment of a regulated medical cannabis industry has the potential to generate revenue, attract investments, and create employment opportunities in Lebanon. As the government seeks to leverage the economic potential of the Medical Cannabis market, the industry is poised to play a significant role in the country's economic growth and development.

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.