Pharmaceutical Cannabis - Eastern Europe

Eastern Europe

In Eastern Europe, revenue in the Pharmaceutical Cannabis market is forecasted to reach US$9.47m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 5.61%, leading to a market volume of US$12.44m 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$25.91k is the revenue generated per person in 2024.
In Eastern Europe, Poland shows a rising trend in the Pharmaceutical Cannabis market with increasing investment and regulatory support.

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

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Currency

Analyst Opinion

The Pharmaceutical Cannabis market in Eastern Europe is experiencing a notable surge in demand and growth, driven by changing attitudes towards cannabis-based products and increasing awareness of their potential health benefits.

Customer preferences: Customers in Eastern Europe are showing a growing interest in pharmaceutical cannabis products due to a shift towards natural and alternative remedies. There is a rising demand for cannabis-based medications as more people seek out organic and plant-based solutions for various health conditions.

Trends in the market: In countries like Poland and the Czech Republic, there is a trend towards legalizing medical cannabis, which is opening up new opportunities for pharmaceutical cannabis companies. This trend is driven by increasing research supporting the therapeutic properties of cannabis and a growing acceptance of its medical use among healthcare professionals and the general population.

Local special circumstances: Eastern Europe has a history of traditional herbal medicine usage, which has laid the foundation for the acceptance of pharmaceutical cannabis products in the region. Countries like Romania and Bulgaria have a long tradition of using plant-based remedies for health purposes, making them more open to incorporating cannabis-based medications into their healthcare systems.

Underlying macroeconomic factors: The Pharmaceutical Cannabis market in Eastern Europe is also influenced by macroeconomic factors such as regulatory changes, healthcare infrastructure development, and increasing disposable incomes. As governments in the region introduce regulations to legalize and regulate medical cannabis, pharmaceutical companies are finding new opportunities to expand their product offerings and reach a wider customer base. Additionally, improvements in healthcare infrastructure and rising disposable incomes are making pharmaceutical cannabis products more accessible to the general population in Eastern Europe.

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.