Medical Cannabis - Switzerland

Switzerland

Switzerland's Medical Cannabis market market is forecasted to reach US$24.61m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 2.83%, leading to a market volume of US$28.29m by 2029.
When compared globally, the United States will generate the highest revenue (US$14,530.00m in 2024).
In terms of total population figures, per person revenues of US$1.01k are generated in 2024.
Switzerland's medical cannabis market is thriving due to progressive regulations, attracting investors seeking opportunities in the burgeoning industry.

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

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Analyst Opinion

Switzerland has been experiencing a notable growth in the Medical Cannabis market, reflecting a global trend towards the acceptance and legalization of cannabis for medical purposes.

Customer preferences: Patients in Switzerland are increasingly turning to Medical Cannabis as an alternative or complementary treatment option due to its perceived effectiveness in managing various medical conditions. The growing preference for natural and holistic remedies is also driving demand for Medical Cannabis products in the country.

Trends in the market: One of the key trends in the Swiss Medical Cannabis market is the expansion of product offerings and consumption methods. Patients now have access to a wider range of Medical Cannabis products, including oils, tinctures, and edibles, catering to different preferences and needs. Moreover, the market is witnessing a rise in the number of medical professionals prescribing Medical Cannabis, indicating a growing acceptance and integration of cannabis into mainstream healthcare practices.

Local special circumstances: Switzerland's unique regulatory environment, which allows for the production and sale of low-THC cannabis products with a tetrahydrocannabinol (THC) content below 1%, has contributed to the growth of the Medical Cannabis market. This regulatory framework provides patients with access to Medical Cannabis products while ensuring compliance with legal restrictions on THC content.

Underlying macroeconomic factors: The overall positive economic outlook in Switzerland, coupled with increasing awareness and acceptance of Medical Cannabis among the population, is creating a conducive environment for the growth of the market. Additionally, the country's well-established healthcare system and emphasis on research and innovation are further supporting the development of the Medical Cannabis industry in Switzerland.

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.