Pharmaceutical Cannabis - Americas

Americas

Revenue in the Pharmaceutical Cannabis market in the Americas is forecasted to reach US$1.14bn in 2024.
The revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 4.49%, leading to a market volume of US$1.42bn by 2029.
When compared globally, the United States is expected to generate the highest revenue (US$913.10m in 2024).
In terms of per capita figures, individuals the United States are projected to generate revenues of US$1.34k in 2024.
In the Americas, the Pharmaceutical Cannabis market is experiencing rapid growth due to increasing legalization and acceptance of medical marijuana.

Key regions: United States, Spain, Europe, Thailand, Canada

Market

Region

Region comparison

Currency

Analyst Opinion

The Pharmaceutical Cannabis market in Americas is experiencing significant growth and development driven by shifting customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in the Americas are increasingly turning to Pharmaceutical Cannabis products due to growing awareness about the potential health benefits and therapeutic properties of cannabis-derived pharmaceuticals. There is a rising demand for natural and alternative treatment options, leading to a surge in the popularity of Pharmaceutical Cannabis products among consumers in the region.

Trends in the market: In countries like Canada and certain states in the United States, the legalization of medical and recreational cannabis has opened up new opportunities for Pharmaceutical Cannabis companies. This regulatory shift has paved the way for increased research and development activities, product innovation, and market expansion. As a result, the Pharmaceutical Cannabis market in these regions is witnessing rapid growth and diversification.

Local special circumstances: Countries in South America, such as Colombia and Uruguay, have emerged as key players in the Pharmaceutical Cannabis market due to favorable climate conditions for cannabis cultivation and progressive regulatory frameworks. These countries have become major suppliers of Pharmaceutical Cannabis products to the global market, attracting investments and driving economic growth in the region.

Underlying macroeconomic factors: The Pharmaceutical Cannabis market in the Americas is also influenced by macroeconomic factors such as changing government policies, trade agreements, and healthcare reforms. As more countries in the region move towards legalizing and regulating Pharmaceutical Cannabis, there is a growing emphasis on quality control, standardization, and compliance with international guidelines. This evolution is reshaping the competitive landscape and driving consolidation among Pharmaceutical Cannabis companies in the Americas.

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.