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U.S. Medical Marijuana Market Size

Report ID: GMI2890
Published Date: Oct 2022
Report Format: PDF

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U.S. Medical Marijuana Market Size

U.S. Medical Marijuana Market size was worth more than USD 9 billion in 2021 and is anticipated to exhibit 10% CAGR between 2022 to 2030.

Increasing awareness regarding the health benefits of cannabis and cannabidiol (CBD) to treat various clinical conditions will boost the market landscape. CBD is a non-impairing compound found in marijuana that does not induce euphoria. It has multiple health benefits including pain management, appetite enhancement, reduced eye pressure, and many more.

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The United States Food and Drug Administration (FDA) encourages new drug development efforts and is steadily authorizing medicines containing therapeutic compounds derived from cannabis. The product could help treat patients of age one year and above with seizures caused by tuberous sclerosis complex (TSC).

U.S. Medical Marijuana Market Report Attributes
Report Attribute	Details
Base Year:	2021
U.S. Medical Marijuana Market Size in 2021:	9 Billion (USD)
Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	10%
2030 Value Projection:	2 Billion (USD)
Historical Data for:	2017 to 2021
No. of Pages:	225
Tables, Charts & Figures:	413
Segments covered:	Application, Route of Administration, Distribution Channel, and Zones
Growth Drivers:	Increasing application of marijuana for a myriad of medical conditions and symptoms Growing demand for medical marijuana legalization in the U.S Rising number of R&D and clinical trial activities
Pitfalls & Challenges:	Few side effects might hinder the market growth Difficulty in medical marijuana business banking

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Strict federal laws against cannabis production in some states may impede industry across the U.S. As per federal law, cannabis remains illegal and banks in the U.S. are under strict compliance with the government to avoid taking funds from marijuana businesses. The lack of a policy framework pertaining to the production and sale of marijuana in many parts of the country may hinder the U.S. medical marijuana market forecasts.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

U.S. market for medical marijuana was valued at over USD 9 billion in 2021 and is projected to expand at more than 10% CAGR between the estimated timeframe of 2022-2030.

Pain management applications was over USD 7 billion in 2021 due to the rise in the number of patients with chronic and neuropathic pain in the U.S.

South Atlantic U.S. medical marijuana market size is anticipated to exceed USD 3 billion by 2030 owing to increasing efforts to boost the production of cannabis products.

Tilray, Curaleaf, Green Roads, CHARLOTTE’S WEB, Gaia Herbs, Medical Marijuana, and Folium Biosciences are some of the leading companies in the U.S. market.