Definition:
The Pharmaceutical Cannabis market encompasses products derived from the cannabis plant specifically used for medical purposes. These products may include dried flowers, oils, tinctures, capsules, and topicals. Depending on the regulations in each country or state, these products are available through medical dispensaries, pharmacies, and/or online platforms. They may be consumed in various ways such as smoking, vaporizing, ingesting, or applying topically.
Structure:
The Pharmaceutical Cannabis market encompasses formulated, processed, or synthetic cannabis sold as a finished product. These products, such as Sativex, Epidiolex, and Dronabinol, have undergone full medical trials and hold a medical marketing authorization. The market also includes cannabinoid-based API (Active Pharmaceutical Ingredient), which is registered as an API in a medicinal product with marketing authorization in one or more regions. These APIs can be manipulated and/or compounded by a magistral pharmacy to produce a cannabinoid-based medicine. The Pharmaceutical Cannabis market includes various forms of cannabis such as flowers, oils, capsules, and topicals.
Additional information:
Market values represent the revenues generated by retail prices paid to vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by patients (B2C), healthcare facilities (B2B), and governments (B2G).
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
The Pharmaceutical Cannabis market in Italy continues to show promising growth and development, reflecting the increasing acceptance and demand for medical cannabis products in the country.
Customer preferences: Italian consumers are increasingly turning to pharmaceutical cannabis products due to growing awareness of their potential health benefits and therapeutic properties. Patients are seeking alternative treatment options for a variety of medical conditions, driving the demand for medical cannabis products in Italy. Additionally, there is a preference for products that are high quality, safe, and compliant with regulations to ensure efficacy and reliability.
Trends in the market: One notable trend in the Italian Pharmaceutical Cannabis market is the expanding range of products available to consumers. Companies are introducing innovative formulations and delivery methods to cater to different patient needs and preferences. Moreover, there is a growing emphasis on research and development within the industry to create new and improved cannabis-based medications. This trend is shaping the market landscape and driving competition among pharmaceutical cannabis companies in Italy.
Local special circumstances: Italy has a unique regulatory framework that governs the Pharmaceutical Cannabis market. The country legalized medical cannabis in 2013, creating a legal pathway for patients to access cannabis-based treatments under medical supervision. This progressive legislation has paved the way for the growth of the pharmaceutical cannabis industry in Italy. Furthermore, Italy's strategic location in Europe allows for easier import and export of medical cannabis products, contributing to the market's expansion.
Underlying macroeconomic factors: The Italian Pharmaceutical Cannabis market is also influenced by broader macroeconomic factors. Economic stability, government support for the healthcare sector, and investments in research and development all play a role in shaping the market environment. Additionally, changing consumer attitudes towards cannabis and increasing healthcare expenditures contribute to the market growth. These macroeconomic factors create a favorable landscape for the development of the Pharmaceutical Cannabis market in Italy.
Most recent update: Mar 2024
Source: Statista Market Insights
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights