Medical Cannabis - Pakistan | Statista Market Forecast

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$14.53bn 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.

Definition:
The Medical Cannabis market encompasses products derived from the cannabis plant specifically used for medical purposes. These products may include dried flowers, oils, tinctures, capsules, and topicals. Depending on the regulations in each country or state, these products are available through medical dispensaries, pharmacies, and/or online platforms. They may be consumed in various ways such as smoking, vaporizing, ingesting, or applying topically.

Structure:
The Medical Cannabis market involves cannabinoid-based medicine without marketing authorisation. These unlicensed medicines are supplied through health systems, prescribed by doctors, or used as Active Pharmaceutical Ingredients (API). The API is manipulated and/or compounded by a magistral pharmacy to prepare a cannabinoid-based medicine without marketing authorisation. The Medical Cannabis market includes various forms of cannabis such as flowers, oils, capsules, and topicals.

Additional information:
Market values represent the revenues generated by retail prices paid to vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by patients (B2C), healthcare facilities (B2B), and governments (B2G).

Cannabinoid-based medicine not holding marketing authorisation containing THC
Cannabinoid-based medicine not holding marketing authorisation containing CBD

Cannabinoid-based medicine holding marketing authorisation containing THC
Cannabinoid-based medicine holding marketing authorisation containing CBD

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.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Cannabis or marijuana, the psychoactive drug from the cannabis plant is growing in popularity around the globe, both for recreational and medicinal uses. While there are many countries that have legalized cannabis in some capacity for medical purposes, only a handful have done so for recreational use. Even though cannabis is not federally legal in the United States, the combined legal states represent the largest market in the world. After the U.S., Canada, which legalized cannabis nation-wide in 2018 represents the next largest market. In 2021, a new coalition government was formed in Germany that indicated that the legalization of cannabis was on their agenda. Germany would be the largest legal adult-use market in Europe and would act as a test case for other countries on the continent considering the merits of legalization.