Pharmaceutical Cannabis - Romania

Romania

In Romania, revenue in the Pharmaceutical Cannabis sector is forecasted to reach US$9.47m by 2024.
The revenue is anticipated to display an annual growth rate (CAGR 2024-2029) of 5.61%, leading to a market volume of US$12.44m by 2029.
When compared globally, the United States will generate the most revenue (US$913.10m in 2024).
In terms of per capita figures, in 2024, US$25.91k in revenue is generated per person.
The Pharmaceutical Cannabis market in Romania is gaining traction due to increasing acceptance and demand for medical marijuana products.

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

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Analyst Opinion

The Pharmaceutical Cannabis market in Romania is experiencing significant growth and development in recent years.

Customer preferences: Customers in Romania are increasingly turning to pharmaceutical cannabis products due to growing awareness about the potential health benefits associated with cannabis-based treatments. The shift towards natural and alternative medicine options is driving demand for these products in the market.

Trends in the market: One key trend in the Pharmaceutical Cannabis market in Romania is the expanding range of products available to consumers. Companies are introducing a variety of pharmaceutical cannabis products such as oils, capsules, and topical solutions to cater to different customer needs and preferences. Additionally, there is a noticeable trend towards personalized medicine, with companies offering customized dosage options for patients.

Local special circumstances: Romania's regulatory environment plays a crucial role in shaping the Pharmaceutical Cannabis market. The country has taken steps to legalize medical cannabis, creating opportunities for companies to enter the market and provide innovative products to consumers. Moreover, the increasing acceptance of medical cannabis among healthcare professionals and patients is contributing to the market's growth.

Underlying macroeconomic factors: The growing economy in Romania is supporting the development of the Pharmaceutical Cannabis market. As disposable incomes rise, consumers are more willing to spend on healthcare products, including pharmaceutical cannabis. Additionally, the government's efforts to improve healthcare infrastructure and services are enhancing access to medical cannabis products for patients across 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.