Medical Cannabis - Brazil

Brazil

Brazil is projected to reach a revenue of €171.80m in the Medical Cannabis market market by 2024.
The revenue is expected to grow annually at a rate of 4.13% (CAGR 2024-2029), leading to a market volume of €210.30m by 2029.
When compared globally, the United States is set to generate the highest revenue of €13,470.00m in 2024.
In terms of per person revenues, €1.87k are anticipated to be generated in Brazil in 2024.
Brazil's evolving regulations are shaping a promising landscape for medical cannabis investments in the country's burgeoning market.

Key regions: Australia, Europe, South Africa, United States, Netherlands

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Región

Comparación de regiones

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Analyst Opinion

Brazil has seen significant growth in the Medical Cannabis market in recent years, driven by changing regulations and increasing acceptance of cannabis-based products for medical purposes.

Customer preferences: Customers in Brazil are increasingly turning to Medical Cannabis as an alternative form of treatment for various health conditions. The demand for natural and holistic remedies has been on the rise, leading to a growing interest in Medical Cannabis products. Patients are seeking out cannabis-based medicines for chronic pain, anxiety, and other medical issues, as they look for effective and side-effect-free solutions.

Trends in the market: One of the key trends in the Brazilian Medical Cannabis market is the expansion of product offerings. With more companies entering the market and investing in research and development, there is a wider variety of Medical Cannabis products available to consumers. This trend is driven by the increasing competition in the market and the need for companies to differentiate themselves by offering unique and innovative products.

Local special circumstances: Brazil's unique climate and agricultural conditions make it well-suited for Medical Cannabis cultivation. The country's vast land area and diverse ecosystems provide ample opportunities for outdoor and indoor cultivation of cannabis plants. Additionally, the Brazilian government's regulations on Medical Cannabis production have been relatively favorable compared to other countries, creating a conducive environment for the growth of the industry.

Underlying macroeconomic factors: The economic landscape in Brazil has also played a significant role in the development of the Medical Cannabis market. The country's large population and increasing healthcare expenditures have created a growing market for medical products, including Medical Cannabis. Additionally, the government's efforts to regulate and legalize the industry have provided a framework for companies to operate within, giving investors more confidence in the market's stability and growth potential.

Methodology

Data coverage:

Data encompasses B2B and B2C enterprises. Figures are based on companies' revenues, funding values and global consumer survey data. Revenues include retail, sales and taxes.

Modeling approach / Market size:

Market sizes are determined by a Top-Down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use financial reports, third-party data. Next, we use relevant key market indicators and data from country-specific associations such as tobacco spending per capita, medical product spending per capita, consumer spending and consumer spending for recreation purposes, population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, S-Curve function, ARIMA time series model and exponential curve function.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. GCS data is reweighted for representativeness.