Pharmaceutical Cannabis - Malta

Malta

Malta is projected to reach a revenue of US$545.10k in the Pharmaceutical Cannabis sector by 2024.
The revenue is forecasted to exhibit an annual growth rate (CAGR 2024-2029) of 5.32%, leading to a market volume of US$706.30k by 2029.
When compared globally, the United States is expected to generate the highest revenue of US$913.10m in 2024.
In terms of per person revenues in 2024, US$13.78k is generated concerning the total population figures.
Malta's pharmaceutical cannabis market is rapidly expanding, with a focus on research and development to drive innovation and competitiveness.

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

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Analyst Opinion

The Pharmaceutical Cannabis market in Malta has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Malta are increasingly seeking alternative and natural remedies for various health conditions, leading to a growing demand for pharmaceutical cannabis products. The shift towards more holistic approaches to healthcare and wellness is driving consumers to explore the potential benefits of cannabis-based treatments.

Trends in the market: In Malta, there has been a notable trend towards the legalization and regulation of medical cannabis, creating opportunities for pharmaceutical companies to enter the market and offer a wide range of cannabis-based products. The increasing acceptance and awareness of the therapeutic properties of cannabis among healthcare professionals and patients are further fueling the growth of the pharmaceutical cannabis market in the country.

Local special circumstances: Malta's strategic location in the Mediterranean region and its favorable regulatory environment have positioned it as a hub for pharmaceutical companies looking to expand their cannabis operations. The country's progressive stance on medical cannabis and its efforts to establish a robust regulatory framework have attracted investments and expertise in the pharmaceutical cannabis sector.

Underlying macroeconomic factors: The growing pharmaceutical cannabis market in Malta is also influenced by broader macroeconomic factors such as increasing healthcare expenditures, rising prevalence of chronic diseases, and shifting consumer preferences towards natural and plant-based remedies. These factors are driving the demand for pharmaceutical cannabis products and shaping the competitive landscape in the country.

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.