Pharmaceutical Cannabis - Benelux

Benelux

Revenue in the Pharmaceutical Cannabis market in Benelux is forecasted to reach US$47.08m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 4.75%, leading to a market volume of US$59.38m by 2029.
When compared globally, the United States will generate the highest revenue (US$913.10m in 2024).
In terms of per person revenues relative to the total population, US$5.72k is generated in 2024.
Benelux's Pharmaceutical Cannabis market is experiencing a surge in research and development, positioning the region as a key player in medicinal cannabis advancements.

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

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Analyst Opinion

The Pharmaceutical Cannabis market in Benelux is experiencing a significant growth trajectory, driven by changing customer preferences, evolving trends, and unique local special circumstances.

Customer preferences: Customers in Benelux are increasingly turning to Pharmaceutical Cannabis products due to growing awareness of their potential health benefits and therapeutic properties. There is a rising demand for natural and alternative treatment options, leading to a shift towards Pharmaceutical Cannabis as a preferred choice for managing various medical conditions.

Trends in the market: In Benelux, the Pharmaceutical Cannabis market is witnessing a surge in research and development activities, leading to the introduction of innovative products and formulations. This trend is fueled by the increasing acceptance of Cannabis-based medicines among healthcare professionals and patients alike. Moreover, the market is experiencing a rise in partnerships and collaborations between pharmaceutical companies and Cannabis producers to leverage each other's expertise and resources.

Local special circumstances: Benelux countries, comprising Belgium, the Netherlands, and Luxembourg, have unique regulatory frameworks governing the use of Cannabis for medicinal purposes. The region has been at the forefront of Cannabis legalization and has established a well-defined system for the cultivation, distribution, and consumption of Pharmaceutical Cannabis products. This progressive stance towards Cannabis has created a conducive environment for market growth and innovation.

Underlying macroeconomic factors: The Pharmaceutical Cannabis market in Benelux is also influenced by broader macroeconomic factors such as increasing healthcare expenditure, aging population demographics, and changing attitudes towards traditional medicine. As governments and healthcare providers in the region continue to prioritize patient-centric care and personalized treatment approaches, Pharmaceutical Cannabis is poised to play a significant role in the future of healthcare delivery in Benelux.

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.