According to the latest report by IMARC Group, titled “Thailand Medical Cannabis Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the Thailand medical cannabis market reached a value of US$ 79 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,195 Million by 2027, exhibiting a CAGR of 55.6% during 2022-2027.
Cannabis refers to a psychoactive drug that is generally extracted from cannabis indica, cannabis ruderalis and cannabis sativa plants. It is extensively used in the manufacturing of medicines since it contains tetrahydrocannabinol (THC) that offers a relaxing and calming effect when consumed. Therefore, it is widely utilized for treating several medical conditions, such as chronic pain, inflammation, insomnia, anxiety and depression. Apart from this, it is consumed by patients in pill form who are undergoing cancer chemotherapy and suffering from acquired immunodeficiency syndrome (AIDS). In Thailand, it is also provided to women to ease labor pains and used as a condiment in cooking.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Thailand Medical Cannabis Market Trends:
Cannabis has healing properties owing to which it is used as a treatment for chronic pain, chemotherapy-induced nausea and vomiting along with improving patient-reported multiple sclerosis spasticity symptoms. Recent studies have also found that cannabidiol (CBD), an active ingredient in cannabis, can reduce seizures in individuals with rare childhood epilepsy disorders. Growing awareness about these medical benefits of cannabis has significantly increased its sales. Besides this, there has been an increase in medical tourism in Thailand which has led to a rise in the requirement of medical cannabis across the region. Moreover, the Government of Thailand has allowed companies to conduct research on the marijuana plant and its production. It has also granted access to foreign players to enter into a joint venture with a local company which has prompted international investments in the industry. For instance, the companies in the US and Canada are investing considerable capital in the Thailand medical cannabis market through joint ventures.
Key Market Segmentation:
The report has segmented the Thailand medical cannabis market on the basis of cultivated species, derivatives, application areas, end-use, route of administration and region.
Breakup by Cultivated Species:
- Indica
- Sativa
- Hybrid
Breakup by Derivatives:
- Cannabidiol (CBD)
- Tetrahydrocannabinol (THC)
- Others
Breakup by Application Areas:
- Cancer
- Arthritis
- Migraine
- Epilepsy
- Others
Breakup by End-Use:
- Pharmaceuticals
- Research and Development Centres
- Others
Breakup by Route of Administration:
- Oral Solutions and Capsules
- Vaporizers
- Topicals
- Others
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/thailand-medical-cannabis-market
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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