Pharmaceutical Cannabis - Central & Western Europe

Central & Western Europe

Revenue in the Pharmaceutical Cannabis market in Central & Western Europe is forecasted to reach US$442.00m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 4.91%, culminating in a market volume of US$561.80m by 2029.
When compared globally, the United States is expected to generate the highest revenue (US$913.10m in 2024).
In terms of per person figures, revenues of US$4.10k are generated in 2024 concerning the total population.
Germany's pharmaceutical cannabis market is rapidly expanding, with increased research and investment paving the way for new opportunities in Central & Western Europe.

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

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Currency

Analyst Opinion

The Pharmaceutical Cannabis market in Central & Western Europe is experiencing significant growth and development.

Customer preferences: Customers in Central & Western Europe are increasingly turning to Pharmaceutical Cannabis products due to the rising awareness of the potential health benefits associated with these products. The shift towards natural and alternative medicines is also driving the demand for Pharmaceutical Cannabis in the region.

Trends in the market: In countries like Germany, there is a growing trend towards legalizing and regulating the use of Pharmaceutical Cannabis for medical purposes. This has opened up new opportunities for companies to enter the market and offer a variety of Pharmaceutical Cannabis products to meet the increasing demand. Additionally, the Netherlands has long been known for its progressive stance on Cannabis, which has created a unique market landscape for Pharmaceutical Cannabis products in the country.

Local special circumstances: Countries in Central & Western Europe have varying regulations and attitudes towards Cannabis, which directly impact the Pharmaceutical Cannabis market in each country. For example, while some countries have strict regulations in place, others have more lenient policies that allow for a more robust market. Additionally, cultural attitudes towards Cannabis play a significant role in shaping the market dynamics in each country.

Underlying macroeconomic factors: The Pharmaceutical Cannabis market in Central & Western Europe is also influenced by broader macroeconomic factors such as economic growth, healthcare expenditure, and government policies. As the region continues to focus on healthcare innovation and research, the Pharmaceutical Cannabis market is poised to benefit from investments in medical research and development. Additionally, the increasing acceptance of Cannabis for medical use across the region is driving further growth in the market.

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.