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DUBLIN--(BUSINESS WIRE)--Sep 22, 2022--
The "Medicinal Cannabis Market, by Point of Sale, by Active Ingredient, and by Therapeutic Application, and by Region - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
Medicinal cannabis, also known as medical marijuana, is used either for the treatment of diseases or to improve their symptoms. The two cannabinoids - delta-9-tetrahydrocannabinol (THC) and Cannabidiol (CBD) are used in treatment of certain diseases or health conditions such as pain, blood pressure, memory, concentration, appetite, sensory stimulus, muscular problems, and seizures.
According to World Health Organization Marijuana was the most widely used drug globally in 2021 with around 257 million users. Such factors have led to increasing initiatives among governments worldwide to conduct studies regarding legalization of the drug for medicinal use.
Market Dynamics
On April 1, 2022, Dr. Reddy's Laboratories Ltd., an India based multinational pharmaceutical company and MediCane Health Inc., an international pharmaceutical company based in Canada, announced the launch of its medical cannabis product in Germany. In this collaboration MediCane would supply the medical cannabis products to Dr. Reddy's from its European Union -Good Manufacturing Company-certified facilities in Portugal along with providing logistical and regulatory support.
Increasing technological advancements in testing cannabis quality have made it easier for manufacturers to develop new cannabis medicines for various disease indications, which is expected to drive growth of the medicinal cannabis market. For instance, on July 25, 2022, Green Scientific Labs, a hemp and marijuana testing laboratory, launched a new Proprietary Laboratory Information Management System (LIMS) for better management of cannabis and hemp testing process. The system features include Artificial Intelligence to ensure compliance with state regulations on COAs (Chief of Army Staff).
Similarly, in April 2018, Gala Pharmaceutical, a pharmaceutical company, announced that it had expected to build its first testing laboratory that would fulfill the new International Organization for Standardization requirements set by the City of Long Beach and the State of California, US in accordance with the Medical Marijuana Regulation and Safety Act. The Act required the California Department of Public Health to enforce its provisions related to the manufacturing and testing of medical cannabis across the State.
Furthermore, on April 5, 2022, Metrc, a provider of cannabis regulatory systems in the U.S., announced a new contract with the state of Mississippi in the U.S. to support the regulation of its medical cannabis market. Metrc would help expedite Mississippi's medical cannabis program's data collection and regulatory oversight through its robust track-and-trace platform. This platform makes each individual plant and product traceable and supplies essential information regarding plant origin, testing results, and chain-of-custody, thereby helping operators optimize quality control, inventory management, and overall compliance.
Key features of the study:
Detailed Segmentation:
Global Medicinal Cannabis Market, By Point of Sale:
Global Medicinal Cannabis Market, By Active Ingredients:
Global Medicinal Cannabis Market, By Therapeutic Application:
Global Medicinal Cannabis Market, By Region
By Company Profiles
Key Topics Covered:
1. Research Objectives and Assumptions
2. Market Purview
3. Market Dynamics, Regulations, and Trends Analysis
4. Global Medicinal Cannabis Market COVID- Impact of Coronavirus (Covid-19) Pandemic
5. Global Medicinal Cannabis Market, By Point Of Sale , 2017 - 2030, (US$ Million)
6. Global Medicinal Cannabis Market, By Active Ingredients, 2017 - 2030, (US$ Million)
7. Global Medicinal Cannabis Market, By Therapeutic Application, 2017 - 2030, (US$ Million)
8. Global Medicinal Cannabis Market, By Region, 2017 - 2030, (US$ Million)
9. Competitive Landscape
10. Section
For more information about this report visit https://www.researchandmarkets.com/r/rf9ok2
View source version on businesswire.com:https://www.businesswire.com/news/home/20220922005526/en/
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KEYWORD:
INDUSTRY KEYWORD: ALTERNATIVE MEDICINE HEALTH NATURAL RESOURCES CANNABIS
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/22/2022 07:23 AM/DISC: 09/22/2022 07:23 AM
http://www.businesswire.com/news/home/20220922005526/en