Pharmaceutical Cannabis - Lesotho

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.

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

Market

Region

Region comparison

Currency

Analyst Opinion

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.

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.