Pharmaceutical Cannabis - Switzerland

Switzerland is positioned to witness a significant increase in revenue within the Pharmaceutical Cannabis market, with projections indicating a figure of US$25.08m by 2024.
The expected annual growth rate (CAGR 2024-2029) is forecasted at 5.00%, leading to a market volume of US$32.01m by 2029.
Among global counterparts, the United States will lead in revenue generation, with an estimated US$913.10m in 2024.
In terms of per capita calculations, the revenue generated per person in 2024 stands at US$6.86k.
Switzerland's Pharmaceutical Cannabis market is flourishing, attracting investors due to its strict regulations ensuring high-quality products and research opportunities.

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

Switzerland has seen a significant development in its Pharmaceutical Cannabis market, with an increasing number of consumers turning to cannabis-based products for medicinal purposes.

Customer preferences: Consumers in Switzerland are showing a growing preference for Pharmaceutical Cannabis products due to their perceived health benefits and effectiveness in treating various medical conditions. The shift towards natural and alternative medicines has also played a role in driving the demand for Pharmaceutical Cannabis in the country.

Trends in the market: One notable trend in the Swiss Pharmaceutical Cannabis market is the increasing acceptance and legalization of medical cannabis. This has led to a wider availability of Pharmaceutical Cannabis products in pharmacies and healthcare facilities across the country. Additionally, the market has seen a rise in research and development activities focused on creating innovative cannabis-based medications to cater to specific medical needs.

Local special circumstances: Switzerland's unique regulatory environment, which allows for the cultivation and sale of low-THC Cannabis products, has created a conducive market for Pharmaceutical Cannabis companies to operate in. The country's progressive stance on medical cannabis and its well-established pharmaceutical industry have also contributed to the growth of the Pharmaceutical Cannabis market in Switzerland.

Underlying macroeconomic factors: The stable economy and high disposable income levels in Switzerland have made it a lucrative market for Pharmaceutical Cannabis companies looking to expand their operations. Additionally, the country's strong healthcare infrastructure and emphasis on research and development have created favorable conditions for the growth of the Pharmaceutical Cannabis market.

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.