Pharmaceutical Cannabis - Brazil

Brazil

Brazil's revenue in the Pharmaceutical Cannabis sector is forecasted to reach €57.70m in 2024.
The expected annual growth rate (CAGR 2024-2029) is 5.29%, leading to a market volume of €74.68m by 2029.
When compared globally, the United States is projected to generate the highest revenue (€846.70m in 2024).
In terms of per person revenues in 2024, €4.18k are generated based on the total population figures.
Brazil's pharmaceutical cannabis market is rapidly growing, with increasing research and development initiatives paving the way for future advancements.

Key regions: United States, Spain, Europe, Thailand, Canada

Mercado

Región

Comparación de regiones

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Analyst Opinion

The Pharmaceutical Cannabis market in Brazil is experiencing significant growth and development.

Customer preferences: Customers in Brazil are increasingly turning to Pharmaceutical Cannabis products due to a growing awareness of the potential health benefits associated with medical marijuana. The shift towards more natural and holistic remedies is driving demand for Pharmaceutical Cannabis products among consumers in Brazil.

Trends in the market: One key trend in the Pharmaceutical Cannabis market in Brazil is the increasing acceptance and legalization of medical marijuana. As regulations become more favorable towards the use of Cannabis for medical purposes, more Pharmaceutical Cannabis products are becoming available in the market. This trend is expected to continue as more research highlights the therapeutic properties of Cannabis. Another trend shaping the Pharmaceutical Cannabis market in Brazil is the rise of telemedicine and online platforms for purchasing medical marijuana products. This shift towards digital platforms makes it more convenient for consumers to access Pharmaceutical Cannabis products, driving further growth in the market.

Local special circumstances: Brazil has a unique climate and geographical conditions that are favorable for Cannabis cultivation. This has led to a growing number of local Pharmaceutical Cannabis producers in the country, reducing the reliance on imports. The presence of local producers is not only boosting the domestic Pharmaceutical Cannabis market but also creating opportunities for export to other countries in the region. Additionally, Brazil has a large population with a significant portion in need of alternative medical treatments. The high prevalence of certain medical conditions that can be alleviated with Pharmaceutical Cannabis products, such as chronic pain and epilepsy, is driving the demand for such products in the country.

Underlying macroeconomic factors: The economic landscape in Brazil is also playing a role in the development of the Pharmaceutical Cannabis market. The gradual recovery of the economy is leading to increased disposable income among consumers, allowing them to spend more on healthcare products, including Pharmaceutical Cannabis. Furthermore, the government's efforts to streamline regulations and support the Pharmaceutical Cannabis industry are creating a more conducive environment for market growth.

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.