Pharmaceutical Cannabis - Pakistan

Pakistan

In Pakistan, revenue in the Pharmaceutical Cannabis sector is forecasted to reach US$8.68m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 1.84%, leading to a market volume of US$9.51m by 2029.
When compared globally, the United States is expected to generate the highest revenue (US$913.10m in 2024).
In terms of the total population, per person revenues of US$10.57k are generated in 2024.
In Pakistan, the pharmaceutical cannabis market shows promising growth potential with increasing acceptance for medicinal purposes.

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

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Analyst Opinion

In Pakistan, the Pharmaceutical Cannabis market is experiencing significant growth and development.

Customer preferences: Customers in Pakistan are increasingly showing interest in pharmaceutical cannabis products due to the growing awareness of the potential health benefits associated with these products. With an increasing focus on natural remedies and alternative medicine, consumers are looking for cannabis-based pharmaceuticals as a treatment option for various medical conditions.

Trends in the market: One of the key trends in the Pharmaceutical Cannabis market in Pakistan is the gradual acceptance and legalization of medical cannabis for specific medical conditions. This shift in regulations is opening up new opportunities for pharmaceutical companies to develop and market cannabis-based products in the country. Additionally, the growing research and development activities in the field of cannabis-based pharmaceuticals are driving innovation and product diversification in the market.

Local special circumstances: Pakistan has a long history of cannabis cultivation for various purposes, including medicinal use. The favorable climate and geographical conditions in certain regions of the country make it suitable for cannabis cultivation. This local expertise in cannabis cultivation can potentially give Pakistan a competitive edge in the production of pharmaceutical cannabis products.

Underlying macroeconomic factors: The Pharmaceutical Cannabis market in Pakistan is also influenced by macroeconomic factors such as government regulations, healthcare infrastructure, and foreign investment. The regulatory environment plays a crucial role in shaping the market dynamics, and recent developments indicate a gradual shift towards a more favorable stance on medical cannabis. Furthermore, investments in healthcare infrastructure and research facilities are supporting the growth of the pharmaceutical sector, including the cannabis market. Foreign investors are also showing interest in the Pakistani market, which is expected to further drive the expansion of the Pharmaceutical Cannabis market 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.