Global Medical Cannabis Market Business Opportunities, Leading Players, Trends Outlook Up to 2024

Medical cannabis is obtained from the Cannabis Sativa and Cannabis Indica plants. It contains three major active compounds namely, Cannabidiol (CBD), Tetrahydrocannabinol (THC) and Cannabinol (CBN). As compared to recreational cannabis, medical cannabis has a lower amount of THC and a higher count of CBD which provides therapeutic advantages to patients and aids in retaining anti-psychotic effects. This plant-based drug is gradually gaining acceptance in the pharmaceutical industry as it helps in improving the mood, immune function and vascular health. It is now used for curing anxiety, nausea, depression, chronic pain and side effects of multiple sclerosis, epilepsy, PTSD and Parkinson's disease. It is prescribed in different forms like vapor, oral capsules, topical solutions, creams and balms.

As per the latest research report by IMARC Group, the global medical cannabis market reached a value of US$ 13.4 Billion in 2018.