Pharmaceutical Cannabis - EMEA

EMEA

Revenue in the Pharmaceutical Cannabis market in EMEA is forecasted to reach US$672.80m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 4.88%, leading to a market volume of US$853.90m 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, revenues of US$3.57k are generated per person in 2024.
In EMEA, the Pharmaceutical Cannabis market in Germany is experiencing rapid growth due to favorable regulations and increasing acceptance of medical cannabis.

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

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Analyst Opinion

The Pharmaceutical Cannabis market in EMEA is experiencing significant growth and development driven by various factors.

Customer preferences: Customers in the EMEA region are increasingly seeking alternative and natural remedies, leading to a growing demand for pharmaceutical cannabis products. The shift towards more holistic approaches to healthcare and wellness is influencing consumer preferences in the region.

Trends in the market: In Europe, countries like Germany and the Netherlands have established medical cannabis programs, creating opportunities for pharmaceutical cannabis companies to expand their presence. The increasing acceptance of medical cannabis for conditions such as chronic pain, epilepsy, and multiple sclerosis is driving market growth in the region.

Local special circumstances: In the Middle East, countries like Israel have been at the forefront of cannabis research and innovation, contributing to the development of pharmaceutical cannabis products. The unique regulatory environment in Israel has allowed for advancements in medical cannabis research and technology, positioning the country as a key player in the EMEA market.

Underlying macroeconomic factors: The economic landscape in the EMEA region, characterized by increasing healthcare spending and a growing aging population, is creating a conducive environment for the pharmaceutical cannabis market to thrive. As governments and healthcare providers look for cost-effective solutions to meet the healthcare needs of their populations, pharmaceutical cannabis is emerging as a viable option.

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.