Global Cannabis Pharmaceuticals Market by Brand (Epidiolex, Sativex) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global cannabis pharmaceuticals market was worth USD 67.0 millions in 2019. It is projected to grow at a compound annual rate (CAGR of 76.8%) between 2020 and 2027. Market growth is expected to be aided by the rapid transformation of cannabis from herbal preparations into prescription drugs. The market is also being driven by the increasing use of cannabis-based pharmaceuticals to treat multiple conditions, including chronic pain, epilepsy and sleep disorders, inflammation, multiple sclerosis symptoms, and anorexia. The Emergence of Cannabis 3.0 emphasizes the need for value-based outcomes and not perception-based outcomes. This concept revolves around the shift away from smoking whole cannabis buds to the consumption processed, quantified and packaged cannabis products.

Sativex and Epidiolex are pharmaceutical products that will help to boost the medical cannabis market. However, these drugs will be developed and regulated in a strict process which will improve both physician and patient perspectives on the quantifiable health benefits of cannabis-based medicines. It will allow companies to conduct clinical trials to expand the applications.

Market growth is also being influenced by the increasing number of clinical trials on cannabis, especially Cannabidiol (CBD), for various medical conditions. In 2018, CBD was the subject of around 400 clinical trials. GW Pharmaceuticals, which has around 40 active or completed clinical trials, was the first to register them with FDA. Sanofi followed with 38 active or complete trials as of June 2018.

Due to the increase in medical evidence, increased awareness and comfort, as well as the increasing number of patients seeking medical cannabis, the demand for medical cannabis is expected to rise worldwide. According to Health Canada, around 13359 doctors have prescribed 2.1 grams of average cannabis medicinal use per day to patients in Canada in 2019.

Many companies are also focusing their efforts on developing cannabis-based pharmaceutical formulations, which supports the market's growth. EPIDIOLEX, a CBD-based oral treatment for seizures, was introduced by GW Pharmaceuticals in 2018. For its prescription pharmaceutical formulation, the company uses plant-derived CBD.

Although Epidiolex doesn't contain psychoactive THC but it is legalized worldwide due to strict regulations regarding cannabis-infused products. Drug manufacturers face obstacles due to high operational costs and logistical difficulties, which could hinder the growth of this market.

Brand Insights

With a revenue share at 83.0%, Sativex was the market leader in cannabis pharmaceuticals in 2019. This segment is seeing a growing acceptance of Sativex for treating spasticity due to multiple sclerosis in different countries. Sativex has been approved in 21 countries for the treatment of muscle spasticity. The market will be driven by the increase in clinical trials for the drug for spinal cord injury spasticity, Post-Traumatic Stress Disorder, and other neurological conditions.

During the forecast period, epidiolex will be the fastest-growing segment. The FDA has approved it as the first cannabis-infused drug. After years of research, Epidiolex was approved by the FDA in 2018. It is used to treat Lennox-Gastaut syndrome (LGS), and Dravet disorder. Studies have shown that CBD can be used to treat seizures. This will drive growth for this segment.

Regional Insights

With a revenue share at 67.6%, Europe was the dominant market in 2019. The growing demand for medical marijuana is driven by the presence of major producers in the region and the increasing number of users. The Asia Pacific region will experience the fastest growth rate due to legalization of medical marijuana and the ensuing auspicious guidelines. Many countries in the Asia Pacific, including Japan, South Korea, New Zealand and South Korea, have altered their national controls to allow these drugs to be used as medicinal products. The market for cannabis pharmaceuticals is expected to grow in Asia Pacific due to increasing awareness of its medical benefits, including its healing properties.

Market Share Insights & Key Companies

With the introduction of new products, the medical cannabis market has achieved remarkable achievements in recent years. Some cannabis-infused products were approved and have been subject to clinical trials. This has opened up the market to cannabinoid-based pharmaceuticals. Although the market for cannabis-based pharmaceuticals is still young, there are greater opportunities. Global legalization of cannabis is encouraging increased investment and allowing pharmaceutical companies to spend more on developing cannabinoid-based drugs.

GW Pharmaceuticals is a leader in the development of plant-derived cannabinoid pharmaceuticals. However, other market players such as AbbVie Inc., Valeant Pharmaceuticals, and Insys Therapeutics, Inc. also produce synthetic cannabinoid pharmaceuticals and compete with plant-derived pharmaceutical producers. Big pharmaceutical companies have turned their attention to the cannabis industry as well. These large pharmaceutical companies are now focusing their attention on cannabis industry by sponsoring clinical trials and entering into partnerships with marijuana-based pharmaceuticals. The following are some of the most prominent players in the market for cannabis pharmaceuticals:

• GW Pharmaceuticals

• AbbVie Inc.

• Valeant Pharmaceuticals

• Insys Therapeutics, Inc.

Up Market Research published a new report titled “Cannabis Pharmaceuticals Market research report which is segmented by Brand (Epidiolex, Sativex), By Players/Companies Insys Therapeutics Inc, GW Pharmaceuticals, AbbVie Inc, Valeant Pharmaceuticals”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Cannabis Pharmaceuticals Market Report Segments:

The market is segmented by Brand (Epidiolex, Sativex).

Cannabis Pharmaceuticals Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Cannabis Pharmaceuticals Market

Overview of the regional outlook of the Cannabis Pharmaceuticals Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Cannabis Pharmaceuticals Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Cannabis Pharmaceuticals Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Epidiolex

                2. Sativex

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Cannabis Pharmaceuticals Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Cannabis Pharmaceuticals Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.