Key regions: United States, Spain, Europe, Thailand, Canada
The Pharmaceutical Cannabis market in G7 countries is experiencing significant growth and development.
Customer preferences: Customers in G7 countries are increasingly turning to Pharmaceutical Cannabis products due to the growing acceptance of medical cannabis for treating various health conditions. Patients are seeking alternative treatment options with fewer side effects compared to traditional pharmaceuticals, driving the demand for Pharmaceutical Cannabis products.
Trends in the market: In the United States, the largest market in the G7, the legalization of medical cannabis in several states has paved the way for the growth of the Pharmaceutical Cannabis market. With more states expected to legalize medical cannabis in the future, the market is projected to expand further. In Canada, the market has been growing rapidly since the country legalized recreational cannabis, leading to increased research and development in Pharmaceutical Cannabis products. Germany, another key market in the G7, has seen a rise in demand for Pharmaceutical Cannabis due to the country's progressive medical cannabis program.
Local special circumstances: In Italy, the Pharmaceutical Cannabis market is driven by the government's efforts to regulate the production and distribution of medical cannabis products. The country has established itself as a key player in the European market for Pharmaceutical Cannabis. In Japan, the market is still in its early stages, but the government's recent approval of Pharmaceutical Cannabis products for certain medical conditions is expected to boost market growth in the coming years.
Underlying macroeconomic factors: The Pharmaceutical Cannabis market in G7 countries is also influenced by macroeconomic factors such as changing regulations, healthcare policies, and public perception of cannabis. As more countries legalize medical cannabis and invest in research and development, the market is poised for continued growth. Additionally, the increasing prevalence of chronic diseases and the aging population in G7 countries are driving the demand for Pharmaceutical Cannabis products as patients seek alternative treatment options.
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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