Pharmaceutical Cannabis - Croatia

Croatia

In Croatia, revenue in the Pharmaceutical Cannabis market is forecasted to reach US$1.92m by 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 4.82%, leading to a market volume of US$2.43m 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, US$4.34k in revenue is generated per person in 2024.
Croatia's pharmaceutical cannabis market is seeing a rise in research collaborations with universities to explore its medicinal potential.

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

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Analyst Opinion

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

Customer preferences: Customers in Croatia are increasingly turning to Pharmaceutical Cannabis products due to growing awareness about the potential health benefits associated with these products. The shift towards natural and holistic remedies is driving demand for Pharmaceutical Cannabis as an alternative treatment option for various medical conditions.

Trends in the market: One of the key trends in the Pharmaceutical Cannabis market in Croatia is the increasing legalization and acceptance of medical cannabis products. As regulations become more favorable towards Pharmaceutical Cannabis, more companies are entering the market and offering a wider range of products to cater to different customer needs. This trend is expected to continue driving market growth in the coming years.

Local special circumstances: Croatia has a relatively small market size compared to some other European countries, which presents both opportunities and challenges for Pharmaceutical Cannabis companies. The limited competition in the market allows companies to establish a strong presence and build brand loyalty among customers. However, the small market size also means that companies need to carefully navigate regulations and market dynamics to ensure sustainable growth.

Underlying macroeconomic factors: The overall economic stability and healthcare infrastructure in Croatia play a significant role in shaping the Pharmaceutical Cannabis market. As the economy continues to grow and healthcare services improve, more patients are seeking alternative treatment options like Pharmaceutical Cannabis. Additionally, government initiatives to expand access to medical cannabis products are creating a favorable environment for market expansion in Croatia.

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.