Global Medical Marijuana Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Product Type;

Flower and Oil & Tinctures

By Route of Administration;

Inhalation, Oral, and Topical

By Indication Type;

Pain Management, Seizure, and Others

By Application;

Chronic Pain, Arthritis, Migraine, Cancer, and Others

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn122428188 Published Date: May, 2025 Updated Date: June, 2025

Medical Marijuana Market Overview

Medical Marijuana Market (USD Million)

Medical Marijuana Market was valued at USD 18,935.33 million in the year 2024. The size of this market is expected to increase to USD 75,301.55 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 21.8%.


Global Medical Marijuana Market Growth, Share, Size, Trends and Forecast

*Market size in USD million

CAGR 21.8 %


Study Period2025 - 2031
Base Year2024
CAGR (%)21.8 %
Market Size (2024)USD 18,935.33 Million
Market Size (2031)USD 75,301.55 Million
Market ConcentrationLow
Report Pages331
18,935.33
2024
75,301.55
2031

Major Players

  • Cannabis Sativa, Inc.
  • CannaGrow Holdings, Inc.
  • Cara Therapeutics Inc.
  • GreenGro Technologies, Inc.
  • Growblox Sciences, Inc.
  • GW Pharmaceuticals Plc
  • International Consolidated Companies, Inc.
  • Lexaria Corp.
  • United Cannabis Corporation
  • Medical Marijuana, Inc.

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Global Medical Marijuana Market

Fragmented - Highly competitive market without dominant players


The medical marijuana market is experiencing rapid evolution, propelled by its increasing integration into formal healthcare practices. With rising acceptance among healthcare professionals and the public, medical cannabis is now recognized as a reliable option for chronic and complex health conditions. Notably, consumer confidence has risen by over 35%, underscoring greater awareness and trust in therapeutic marijuana use.

Clinical Demand for Cannabis-Based Therapies
There is a marked surge in demand for cannabis-based medications across various health disciplines. Medical cannabis prescriptions have increased by approximately 40%, particularly for conditions like chronic pain, neurological disorders, and chemotherapy-induced side effects. This uptick is strongly influenced by improved patient education and supportive healthcare infrastructure fostering cannabinoid-based treatment.

Innovation Across Product Lines
The market is diversifying through the emergence of innovative formulations such as capsules, oils, and ingestibles. Non-inhalable delivery methods are gaining popularity, with 32% more consumers now opting for these alternatives. Concurrently, clinical research in cannabinoids has grown by 28%, reflecting increased scientific exploration and validation of cannabis in evidence-based medicine.

Legal Reforms and Compliance Growth
Progressive legislation has greatly benefited the medical marijuana sector. Over 45% of previously restricted regions have eased access through legal reforms, empowering both patients and providers. These policy developments not only simplify patient access but also attract global interest, making the legal environment more conducive for structured market growth.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product Type
    2. Market Snapshot, By Route of Administration
    3. Market Snapshot, By Indication Type
    4. Market Snapshot, By Application
    5. Market Snapshot, By Region
  4. Medical Marijuana Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Growing acceptance of cannabis for pain relief
        2. Rising prevalence of chronic medical conditions
        3. Government support through legal reforms
        4. Expanding research into therapeutic marijuana uses
      2. Restraints
        1. Complex regulatory challenges across global regions
        2. Limited clinical evidence for some treatments
        3. Stigma associated with cannabis-based medication
        4. Supply chain inconsistencies in emerging markets
      3. Opportunities
        1. Product innovation in cannabinoid delivery methods
        2. Expansion in untapped international medical markets
        3. Rising investment in cannabis biotech startups
        4. Increased education reducing consumer hesitation
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Medical Marijuana Market, By Product Type, 2021 - 2031 (USD Million)
      1. Flower
      2. Oil & Tinctures
    2. Medical Marijuana Market, By Route of Administration, 2021 - 2031 (USD Million)
      1. Inhalation
      2. Oral
      3. Topical
    3. Medical Marijuana Market, By Indication Type, 2021 - 2031 (USD Million)
      1. Pain Management
      2. Seizure
      3. Others
    4. Medical Marijuana Market, By Application, 2021 - 2031 (USD Million)
      1. Chronic Pain
      2. Arthritis
      3. Migraine
      4. Cancer
      5. Others
    5. Medical Marijuana Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Cannabis Sativa, Inc.
      2. CannaGrow Holdings, Inc.
      3. Cara Therapeutics Inc.
      4. GreenGro Technologies, Inc.
      5. Growblox Sciences, Inc.
      6. GW Pharmaceuticals Plc
      7. International Consolidated Companies, Inc.
      8. Lexaria Corp.
      9. United Cannabis Corporation
      10. Medical Marijuana, Inc.
  7. Analyst Views
  8. Future Outlook of the Market