Medical Cannabis - Pakistan

Pakistan

The country in Pakistan is projected to witness a revenue of US$111.70m in the Medical Cannabis market market by 2024.
This revenue is expected to demonstrate a Compound Annual Growth Rate (CAGR 2024-2029) of -1.10%, leading to a market volume of US$105.70m by 2029.
When compared globally, the United States will generate the highest revenue of US$14,530.00m in 2024.
In terms of per person revenues in 2024, US$20.40k are generated based on the total population figures in Pakistan.
Pakistan's medical cannabis market is poised for growth, with evolving regulations paving the way for increased research and potential investment opportunities.

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

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Analyst Opinion

Pakistan's Medical Cannabis market is experiencing a significant growth trajectory driven by changing customer preferences, evolving trends, and unique local special circumstances.

Customer preferences: In Pakistan, there is a growing acceptance and demand for Medical Cannabis products among consumers seeking alternative and natural remedies for various health conditions. The shift towards organic and plant-based treatments is influencing consumer preferences in the Medical Cannabis market.

Trends in the market: One notable trend in the Pakistani Medical Cannabis market is the increasing awareness and acceptance of the potential therapeutic benefits of cannabis-derived products. This trend is fueled by a rising interest in holistic health approaches and the exploration of traditional medicinal practices incorporating cannabis.

Local special circumstances: Pakistan's geographical location and climate provide ideal conditions for cultivating cannabis, making it a potentially lucrative market for local cultivation and production. Additionally, the country's historical use of cannabis in traditional medicine and cultural practices contributes to a unique perspective on the plant's medicinal properties.

Underlying macroeconomic factors: The evolving regulatory landscape and government policies play a crucial role in shaping the Medical Cannabis market in Pakistan. As regulations around cannabis use and production continue to develop, it creates opportunities for local businesses and investors to capitalize on the growing market demand. Moreover, economic factors such as increasing disposable income and healthcare expenditures also contribute to the expansion of the Medical Cannabis market in the country.

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.