Pharmaceutical Cannabis - Argentina

Argentina

Argentina is expected to see a revenue of US$17.04m in the Pharmaceutical Cannabis market by 2024.
The market is projected to grow annually at a rate of 3.35% between 2024 and 2029, reaching a volume of US$20.09m by 2029.
Comparatively, the United States will lead in revenue generation with US$913.10m expected in 2024.
In terms of per person revenues, in Argentina is expected to generate US$12.25k in 2024 based on total population figures.
In Argentina, the Pharmaceutical Cannabis market is burgeoning, driven by evolving regulations and a growing acceptance of medical marijuana.

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

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Analyst Opinion

Argentina has seen a significant growth in the Pharmaceutical Cannabis market, driven by changing customer preferences, evolving regulations, and unique local circumstances.

Customer preferences: Customers in Argentina are increasingly turning to Pharmaceutical Cannabis products due to growing awareness about their potential health benefits and therapeutic properties. The shift towards natural and alternative remedies has led to a surge in demand for cannabis-based pharmaceuticals as consumers seek options beyond traditional medications.

Trends in the market: One notable trend in the Argentine Pharmaceutical Cannabis market is the expansion of product offerings to cater to a wider range of medical conditions. Companies are developing new formulations and delivery methods to address specific needs of patients, further fueling market growth. Additionally, partnerships between local pharmaceutical companies and international players have facilitated knowledge transfer and technology exchange, driving innovation in the sector.

Local special circumstances: Argentina's unique regulatory environment, with progressive legislation supporting the use of medical cannabis, has created a conducive market for Pharmaceutical Cannabis products. The country's rich agricultural heritage also plays a role, as Argentina boasts ideal climate conditions for cannabis cultivation, enabling local production of high-quality raw materials for pharmaceutical use.

Underlying macroeconomic factors: Economic factors such as inflation and currency fluctuations have influenced the Pharmaceutical Cannabis market in Argentina. The volatility in the economy has led some consumers to explore more cost-effective treatment options, including Pharmaceutical Cannabis products. Additionally, government initiatives to promote domestic production and attract foreign investment have bolstered the growth of the market, positioning Argentina as a key player in the regional Pharmaceutical Cannabis industry.

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.