Key regions: United States, Spain, Europe, Thailand, Canada
The Pharmaceutical Cannabis market in BRICS countries is experiencing significant growth and development.
Customer preferences: Customers in BRICS countries are increasingly turning to Pharmaceutical Cannabis products due to the growing awareness of the potential health benefits associated with cannabis-based treatments. The shift towards natural and alternative medicine options is also driving the demand for Pharmaceutical Cannabis products in these regions.
Trends in the market: In Brazil, there is a rising trend towards the legalization of medical cannabis, which is opening up new opportunities for Pharmaceutical Cannabis companies to enter the market and cater to the growing demand for medical cannabis products. In Russia, the government's recent initiatives to explore the medical benefits of cannabis are shaping the market landscape and paving the way for potential growth in the Pharmaceutical Cannabis sector. India, with its long history of cannabis use in traditional medicine, is witnessing a resurgence in the adoption of Pharmaceutical Cannabis products for various health conditions. In China, the increasing acceptance of alternative medicine practices is fueling the demand for Pharmaceutical Cannabis products, creating a promising market for industry players.
Local special circumstances: Brazil's regulatory changes and the establishment of a legal framework for medical cannabis are driving the growth of the Pharmaceutical Cannabis market in the country. Russia's conservative stance on cannabis is gradually evolving, presenting opportunities for Pharmaceutical Cannabis companies to establish a presence in the market. India's rich cultural heritage and traditional use of cannabis in Ayurvedic medicine are influencing the acceptance and adoption of Pharmaceutical Cannabis products among the population. China's large population and shifting attitudes towards healthcare are contributing to the growing demand for Pharmaceutical Cannabis products in the country.
Underlying macroeconomic factors: The Pharmaceutical Cannabis market in BRICS countries is also influenced by macroeconomic factors such as population growth, increasing healthcare expenditures, and evolving regulatory environments. As the middle-class population expands and disposable incomes rise in these regions, the affordability and accessibility of Pharmaceutical Cannabis products are expected to improve, driving further market growth. Additionally, ongoing research and development activities, as well as investments in the pharmaceutical sector, are likely to contribute to the expansion of the Pharmaceutical Cannabis market in BRICS countries.
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.
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