Medical Cannabis - Lesotho

Lesotho

Lesotho is expected to witness a significant increase in revenue within the Medical Cannabis market market, with projections indicating a rise to US$3.39m by 2024.
The revenue is forecasted to display a Compound Annual Growth Rate (CAGR 2024-2029) of 1.66%, culminating in a market volume of US$3.68m by 2029.
When compared globally, the United States is anticipated to lead in revenue generation, reaching US$14,530.00m in 2024.
In terms of per capita figures, in Lesotho is estimated to generate revenues of US$7.04k per person in 2024.
Lesotho is pioneering medical cannabis cultivation in Africa, attracting international investors and setting high-quality standards in the market.

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

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Analyst Opinion

Lesotho has emerged as a key player in the Medical Cannabis market, attracting significant attention from investors and stakeholders globally.

Customer preferences: Consumers in Lesotho are increasingly leaning towards medical cannabis products due to the growing awareness of its potential health benefits. The shift towards natural remedies and alternative medicine has driven demand for medical cannabis in the country, aligning with global trends of increasing acceptance and legalization of cannabis for medical purposes.

Trends in the market: One notable trend in the Medical Cannabis market in Lesotho is the emphasis on export opportunities. The country's favorable climate and regulations have positioned it as a hub for cultivating high-quality medical cannabis for export to international markets. This focus on exports has not only boosted the local economy but has also put Lesotho on the map as a key player in the global medical cannabis industry.

Local special circumstances: Lesotho's unique geographical location and climate provide ideal conditions for cannabis cultivation, making it a prime location for companies looking to establish cultivation operations. Additionally, the government's progressive stance on medical cannabis regulation has created a conducive environment for industry growth. These factors have attracted significant investment in the sector, further propelling the market forward.

Underlying macroeconomic factors: The Medical Cannabis market in Lesotho is also influenced by broader macroeconomic factors such as job creation and economic development. The growth of the medical cannabis industry has created employment opportunities and contributed to the country's GDP. Furthermore, the influx of investment in the sector has stimulated economic growth and positioned Lesotho as a competitive player in the global cannabis market.

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.