Pharmaceutical Cannabis - Lesotho

Lesotho is expected to see revenue in the Pharmaceutical Cannabis market reach US$74.71k by 2024.
The revenue is forecasted to exhibit an annual growth rate (CAGR 2024-2029) of 2.95%, leading to a market volume of US$86.38k by 2029.
When compared globally, the United States is anticipated to generate the highest revenue of US$913.10m in 2024.
In terms of per person revenues in 2024, US$1.03k is generated in relation to the total population figures.
Lesotho's Pharmaceutical Cannabis market is flourishing with a rise in international partnerships and a focus on high-quality medical products.

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).

Cannabinoid-based medicine holding marketing authorisation containing THC
Cannabinoid-based medicine holding marketing authorisation containing CBD

Cannabinoid-based medicine not holding marketing authorisation containing THC
Cannabinoid-based medicine not holding marketing authorisation containing CBD

Lesotho, known for its unique geography as the only country in the world entirely above 1,000 meters in elevation, has been making strides in the Pharmaceutical Cannabis market.

Customer preferences: In Lesotho, customers are increasingly leaning towards Pharmaceutical Cannabis products due to their perceived medical benefits and growing acceptance of alternative forms of treatment. The demand for Pharmaceutical Cannabis is being driven by an aging population seeking relief from chronic pain and other medical conditions.

Trends in the market: One of the notable trends in the Pharmaceutical Cannabis market in Lesotho is the increasing number of companies entering the industry. This influx of competition is leading to a wider variety of products available to consumers, as well as driving innovation in cultivation and extraction techniques to meet the growing demand for Pharmaceutical Cannabis products.

Local special circumstances: Lesotho's conducive climate and fertile soil make it an ideal location for cultivating Cannabis for pharmaceutical purposes. The country's progressive regulations around Cannabis cultivation and export have also attracted international investors looking to capitalize on the growing global demand for Pharmaceutical Cannabis.

Underlying macroeconomic factors: The Pharmaceutical Cannabis market in Lesotho is also influenced by broader macroeconomic factors such as government policies and international trade agreements. As the government continues to support the development of the Pharmaceutical Cannabis industry through favorable regulations and incentives, the market is expected to experience further growth in the coming years. Additionally, Lesotho's strategic location within the Southern African region positions it as a key player in the export of Pharmaceutical Cannabis products to neighboring countries, further boosting the market's potential for expansion.

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.

Cannabis or marijuana, the psychoactive drug from the cannabis plant is growing in popularity around the globe, both for recreational and medicinal uses. While there are many countries that have legalized cannabis in some capacity for medical purposes, only a handful have done so for recreational use. Even though cannabis is not federally legal in the United States, the combined legal states represent the largest market in the world. After the U.S., Canada, which legalized cannabis nation-wide in 2018 represents the next largest market. In 2021, a new coalition government was formed in Germany that indicated that the legalization of cannabis was on their agenda. Germany would be the largest legal adult-use market in Europe and would act as a test case for other countries on the continent considering the merits of legalization.