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:
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GW Pharmaceuticals
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AbbVie Inc.
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Valeant Pharmaceuticals
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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
Report Attributes | Report Details |
Report Title | Cannabis Pharmaceuticals Market Research Report |
By Brand | Epidiolex, Sativex |
By Companies | Insys Therapeutics Inc, GW Pharmaceuticals, AbbVie Inc, Valeant Pharmaceuticals |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 209 |
Number of Tables & Figures | 147 |
Customization Available | Yes, the report can be customized as per your need. |
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:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Cannabis Pharmaceuticals Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
1. Epidiolex
2. Sativex
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- 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.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Cannabis Pharmaceuticals Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Cannabis Pharmaceuticals Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Cannabis Pharmaceuticals Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Cannabis Pharmaceuticals Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Cannabis Pharmaceuticals Market Size & Forecast, 2018-2028
4.5.1 Cannabis Pharmaceuticals Market Size and Y-o-Y Growth
4.5.2 Cannabis Pharmaceuticals Market Absolute $ Opportunity
Chapter 5 Global Cannabis Pharmaceuticals Market Analysis and Forecast by Brand
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Brand
5.1.2 Basis Point Share (BPS) Analysis by Brand
5.1.3 Absolute $ Opportunity Assessment by Brand
5.2 Cannabis Pharmaceuticals Market Size Forecast by Brand
5.2.1 Epidiolex
5.2.2 Sativex
5.3 Market Attractiveness Analysis by Brand
Chapter 6 Global Cannabis Pharmaceuticals Market Analysis and Forecast by Region
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Region
6.1.2 Basis Point Share (BPS) Analysis by Region
6.1.3 Absolute $ Opportunity Assessment by Region
6.2 Cannabis Pharmaceuticals Market Size Forecast by Region
6.2.1 North America
6.2.2 Europe
6.2.3 Asia Pacific
6.2.4 Latin America
6.2.5 Middle East & Africa (MEA)
6.3 Market Attractiveness Analysis by Region
Chapter 7 Coronavirus Disease (COVID-19) Impact
7.1 Introduction
7.2 Current & Future Impact Analysis
7.3 Economic Impact Analysis
7.4 Government Policies
7.5 Investment Scenario
Chapter 8 North America Cannabis Pharmaceuticals Analysis and Forecast
8.1 Introduction
8.2 North America Cannabis Pharmaceuticals Market Size Forecast by Country
8.2.1 U.S.
8.2.2 Canada
8.3 Basis Point Share (BPS) Analysis by Country
8.4 Absolute $ Opportunity Assessment by Country
8.5 Market Attractiveness Analysis by Country
8.6 North America Cannabis Pharmaceuticals Market Size Forecast by Brand
8.6.1 Epidiolex
8.6.2 Sativex
8.7 Basis Point Share (BPS) Analysis by Brand
8.8 Absolute $ Opportunity Assessment by Brand
8.9 Market Attractiveness Analysis by Brand
Chapter 9 Europe Cannabis Pharmaceuticals Analysis and Forecast
9.1 Introduction
9.2 Europe Cannabis Pharmaceuticals Market Size Forecast by Country
9.2.1 Germany
9.2.2 France
9.2.3 Italy
9.2.4 U.K.
9.2.5 Spain
9.2.6 Russia
9.2.7 Rest of Europe
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 Europe Cannabis Pharmaceuticals Market Size Forecast by Brand
9.6.1 Epidiolex
9.6.2 Sativex
9.7 Basis Point Share (BPS) Analysis by Brand
9.8 Absolute $ Opportunity Assessment by Brand
9.9 Market Attractiveness Analysis by Brand
Chapter 10 Asia Pacific Cannabis Pharmaceuticals Analysis and Forecast
10.1 Introduction
10.2 Asia Pacific Cannabis Pharmaceuticals Market Size Forecast by Country
10.2.1 China
10.2.2 Japan
10.2.3 South Korea
10.2.4 India
10.2.5 Australia
10.2.6 South East Asia (SEA)
10.2.7 Rest of Asia Pacific (APAC)
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Asia Pacific Cannabis Pharmaceuticals Market Size Forecast by Brand
10.6.1 Epidiolex
10.6.2 Sativex
10.7 Basis Point Share (BPS) Analysis by Brand
10.8 Absolute $ Opportunity Assessment by Brand
10.9 Market Attractiveness Analysis by Brand
Chapter 11 Latin America Cannabis Pharmaceuticals Analysis and Forecast
11.1 Introduction
11.2 Latin America Cannabis Pharmaceuticals Market Size Forecast by Country
11.2.1 Brazil
11.2.2 Mexico
11.2.3 Rest of Latin America (LATAM)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Latin America Cannabis Pharmaceuticals Market Size Forecast by Brand
11.6.1 Epidiolex
11.6.2 Sativex
11.7 Basis Point Share (BPS) Analysis by Brand
11.8 Absolute $ Opportunity Assessment by Brand
11.9 Market Attractiveness Analysis by Brand
Chapter 12 Middle East & Africa (MEA) Cannabis Pharmaceuticals Analysis and Forecast
12.1 Introduction
12.2 Middle East & Africa (MEA) Cannabis Pharmaceuticals Market Size Forecast by Country
12.2.1 Saudi Arabia
12.2.2 South Africa
12.2.3 UAE
12.2.4 Rest of Middle East & Africa (MEA)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Middle East & Africa (MEA) Cannabis Pharmaceuticals Market Size Forecast by Brand
12.6.1 Epidiolex
12.6.2 Sativex
12.7 Basis Point Share (BPS) Analysis by Brand
12.8 Absolute $ Opportunity Assessment by Brand
12.9 Market Attractiveness Analysis by Brand
Chapter 13 Competition Landscape
13.1 Cannabis Pharmaceuticals Market: Competitive Dashboard
13.2 Global Cannabis Pharmaceuticals Market: Market Share Analysis, 2019
13.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
13.3.1 Insys Therapeutics Inc
13.3.2 GW Pharmaceuticals
13.3.3 AbbVie Inc
13.3.4 Valeant Pharmaceuticals