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
Amidst a shifting global landscape in the pharmaceutical cannabis industry, Lebanon has emerged as a key player in the market.
Customer preferences: Customers in Lebanon are increasingly turning to pharmaceutical cannabis products due to growing awareness of the potential health benefits associated with these products. The shift towards more natural and holistic remedies has led to a rising demand for pharmaceutical cannabis as an alternative treatment option.
Trends in the market: One of the notable trends in the pharmaceutical cannabis market in Lebanon is the government's efforts to legalize and regulate the cultivation and production of medical cannabis. This move is expected to not only boost the domestic pharmaceutical cannabis market but also position Lebanon as a key exporter of medical cannabis products to other countries. Additionally, there is a growing trend towards research and development in pharmaceutical cannabis, leading to the introduction of innovative products tailored to specific medical conditions.
Local special circumstances: Lebanon's unique geographical location and climate make it well-suited for the cultivation of cannabis, providing a competitive advantage in the market. Furthermore, the country's rich history in cannabis cultivation for medicinal and industrial purposes has laid a strong foundation for the development of the pharmaceutical cannabis market. The presence of skilled labor and expertise in cannabis cultivation further enhances Lebanon's position in the market.
Underlying macroeconomic factors: The economic potential of the pharmaceutical cannabis market in Lebanon has garnered significant interest from investors looking to capitalize on this emerging industry. The legalization of medical cannabis is expected to not only create new job opportunities but also stimulate economic growth through increased exports. Moreover, the pharmaceutical cannabis market has the potential to reduce Lebanon's trade deficit by tapping into the growing global demand for medical cannabis products.
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