Pharmaceutical Cannabis - Lebanon

Lebanon

Lebanon's Pharmaceutical Cannabis market is forecasted to reach US$0.72m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 4.10%, leading to a market volume of US$0.88m 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, individuals in Lebanon generated revenues of US$2.06k in 2024.
Lebanon's Pharmaceutical Cannabis market shows potential for growth amid changing regulations and increasing interest in medical marijuana research.

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

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Analyst Opinion

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.

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.