Data Bridge Market Research analyzes that the Europe medical cannabis market is expected to grow at a CAGR of 22.5% duri

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The use of cannabis as medicine is not rigorously tested due to government restrictions and resulting in limited clinical research to define the efficacy of cannabis in medical and clinical applications. However, preliminary studies suggest that cannabis reduces vomiting and nausea in chemotherapy patients and helps in increasing appetite.

Data Bridge Market Research analyzes that the Europe medical cannabis market is expected to grow at a CAGR of 22.5% during the forecast period of 2023 to 2030.

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REPORT METRIC	DETAILS
Forecast Period	2023 to 2030
Base Year	2022
Historic Year	2021 (Customizable to 2015 – 2020)
Quantitative Units	Revenue in USD Million
Segments Covered	Product (Oil, Medical Cannabis Capsules, Patch, Whole Flower, Ground Flower, Vape Pen, Dried Medical Cannabis, Creams & Moisturizer, Masks & Serum, Cleanser, and Others), Source (Natural and Synthetic), Species (Cannabis Indica, Sativa, and Hybrid), Application (Alzheimer’s Disease, Appetite Loss, Cancer, Inflammatory Bowel Diseases, Eating Disorders, Epilepsy, Autism, Mental Health Conditions, Multiple Sclerosis, Pain Management, Nausea, Muscle Spasms, Wasting Syndrome (Cachexia), Elevate Mood, Depression and Sleep Disorders, Anxiety, and Others), Derivatives (Cannabidiol (CBD), Tetrahydrocannabinol (THC)/ Delta-8-Tetrahydrocannabinol, Cannabinol (CBN), Cannabicyclol (CBL), Cannabichromene (CBC), Cannabigerol (CBG), and Others), Treatment Type (Expectorant, Antiviral, Analgesic, Aphrodisiac, Psychedelic, and Others), Route of Administration (Oral Solutions and Capsules, Smoking, Vaporizers, Topicals, and Others), End User (Pharmaceutical Industry, Research and Development Centers, Homecare Setting, Hospital, Rehab Centers, and Others), Distribution Channel (B2B and B2C)
Countries Covered	Germany, Italy, U.K., Austria, Poland, Lithuania, Ireland, Netherlands, Norway, Switzerland, France, Russia, Spain, Hungary, Belgium, Turkey, and Rest of Europe
Market Players Covered	MediPharm Labs Inc., Tilray, Aurora Cannabis, JAZZ Pharmaceuticals Inc. (GW Pharmaceuticals plc), HEXO Corp. (Zenabis Europe Ltd), Cresco Labs, Peace Naturals Project Inc., CANOPY GROWTH CORPORATION, Medical Marijuana, Inc., Seed Cellar, EcoGen Biosciences, CANNABIS SEEDS USA, Seeds For Me, HUMBOLDT SEED COMPANY, Extractas, World Class Cannabis Seeds (Crop King Seeds), BARNEY'S FARM, FOLIUM BIOSCIENCES, PharmaHemp, Elixinol Europe Limited, ENDOCA, Harmony, MARY’S nutritionals, LLC, Pure Ratios, Greenwich Biosciences, Inc., Upstate Elevator Supply Co., Apothecanna, BOL Pharma, and IDT Australia among others

Market Definition

Cannabis is a psychoactive drug that is derived from the cannabis plant of the Cannabaceae family. For several years, it has been used medicinally and has a wide range of applications in the treatment of various diseases including chronic pain, cancer, depression, diabetes, arthritis, glaucoma, epilepsy, migraines, AIDS, and Alzheimer’s among others.

The increased medicinal use of cannabis, the controlled legalization and use of cannabis in various industries, and the advanced methodologies present in the field are some of the factors expected to drive market growth.

Europe Medical Cannabis Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail as below:

Drivers

Increased use of cannabis in medicines

Medicinal cannabis is derived from cannabis plants and can be used to treat symptoms of certain medical conditions, and the side effects of some treatments. The most common form of medicinal use of cannabis is pain management. There has been gradual acceptance and use of medicinal cannabis with the growing number of countries that have legalized the use of cannabis for various indications. Medical cannabis has been approved for use by the FDA for three indications which are rare and severe forms of epilepsy, Dravet syndrome, and Lennox-Gastaut syndrome and also to treat the spasticity in Multiple Sclerosis (MS).

Medical marijuana uses the marijuana plant or chemicals in it to treat diseases or conditions apart from the approved drugs, there is an increased interest in two cannabinoids which are delta-9-tetrahydrocannabinol and cannabidiol. Tetrahydrocannabinol is shown to improve appetite, minimize fatigue, and manage muscle function issues while cannabidiol is effective for managing epileptic seizures, curing psychiatric illness, and reducing inflammation.

Legalization of Cannabis

The use and acceptance of medicinal cannabis continue to evolve, as the growing number of states are permitting the use of specific medical indications. Many countries have legalized marijuana for either medicinal or recreational purposes while some other countries with restricted use. In recent years, a growing number of states in the U.S. have legalized the drug for medical or recreational purposes. With the widespread legalization of cannabis, many companies are also becoming proactive and are taking initiatives for the complete legalization of cannabis.

The legalization of marijuana in different parts of the world can be seen as an effort to increase the additional revenue, this way there will be a boost in the revenue without raising taxes. The legalization of cannabis will allow more consumption of it for medicinal or recreational purposes. Moreover, it will also boost the cannabis business, thus creating more demand for cannabis. Hence, the legalization of cannabis is expected to drive market growth.

Opportunities

Novel product development with increasing R&D activities

Medicinal cannabis comes in many different forms including capsules, chewable gum, creams, crystals, flower, lozenges, oil, and oro-mucosal sprays. High growth in the demand for cannabis with legalization has increased the need to come up with better product strains and delivery systems. This has led many companies to conduct R&D activities to check the genetic improvement strategies for cannabis. The FDA's Cannabis Product Committee (CPC) develops and implements cross-Agency strategies and policies for the regulation of cannabis products. The novel products that are developed and on the rise are hemp protein powders, energy bars, hemp milk, hemp flour, and hemp tea, which are expected to create opportunities for market growth.

Key Points mentioned in the Europe Medical Cannabis Market report:

What was the Europe Medical Cannabis Market size in 2030?