Medical Marijuana Market size is expected to reach USD 65.9 billion by 2030
Medical Marijuana Industry Overview The global medical marijuana market size was valued at USD 11.0 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 21.6% from 2022 to 2030. The market is experiencing growth due to rising awareness regarding various medical applications such as pain management, appetite enhancement, and reducing eye pressure. Medical marijuana is mainly classified into two types, namely Cannabis Sativa and Cannabis indica, which originate from the countries of the Western hemisphere and Central and South Asian regions respectively. The growing number of countries legalizing the use of medical marijuana in various parts of this world is one of the key factors driving the usage rate of cannabis in therapeutic applications. COVID-19 had a somewhat positive impact on the market, as it led to an increased usage of medical cannabis across several states in the U.S., Europe, and Canada. The lockdown imposed ca...