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).
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
Portugal has seen a significant growth in the Medical Cannabis market in recent years, reflecting changing attitudes towards cannabis products for medicinal purposes.
Customer preferences: Patients in Portugal are increasingly turning to Medical Cannabis as an alternative treatment option for various health conditions. The growing awareness of the potential therapeutic benefits of cannabis products has led to a shift in consumer preferences towards natural and holistic remedies.
Trends in the market: One of the key trends observed in the Portuguese Medical Cannabis market is the expanding range of product options available to consumers. From oils and tinctures to capsules and topicals, patients have a variety of choices to suit their individual needs. This diversification of products is indicative of a maturing market that is catering to a wider customer base.
Local special circumstances: Portugal's progressive legislation on Medical Cannabis has played a crucial role in shaping the market dynamics. The country decriminalized the personal use of all drugs in 2001 and legalized Medical Cannabis in 2018, creating a conducive environment for industry growth. Additionally, Portugal's strategic geographical location in Europe allows for easy access to other markets in the region, further enhancing its position in the Medical Cannabis industry.
Underlying macroeconomic factors: The economic landscape in Portugal has also contributed to the development of the Medical Cannabis market. The industry presents opportunities for job creation, investment, and revenue generation, which are particularly valuable in a post-recession economy. As the market continues to evolve, collaborations between local companies and international players are likely to increase, driving further innovation and growth in the Medical Cannabis sector.
Most recent update: Mar 2024
Source: Statista Market Insights
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Jan 2025
Source: Statista Market Insights