Pharmaceutical Cannabis - Europe

  • Europe
  • Revenue in the Pharmaceutical Cannabis market in Europe is forecasted to reach €587.70m in 2024.
  • The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 4.79%, leading to a market volume of €742.50m by 2029.
  • When compared globally, the United States is expected to generate the most revenue (€837.90m in 2024).
  • In terms of per capita figures, revenues of €4.01k are generated per person in 2024.
  • The Pharmaceutical Cannabis market in Europe is rapidly expanding with Germany leading in medical research and legalization efforts.

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

 
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Analyst Opinion

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

Customer preferences:
Customers in Europe are increasingly turning to Pharmaceutical Cannabis products due to their perceived health benefits and effectiveness in treating various medical conditions. The shift towards natural and alternative medicine options is also driving demand for Pharmaceutical Cannabis across the region.

Trends in the market:
In countries like Germany and the Netherlands, where Pharmaceutical Cannabis has been legalized for medical use, there is a growing trend of patients opting for Cannabis-based treatments. This trend is further fueled by an aging population seeking relief from chronic pain and other age-related ailments. Additionally, the increasing awareness and acceptance of Cannabis as a therapeutic option are driving market expansion in countries like Spain and Italy.

Local special circumstances:
Countries in Europe have varying regulations and policies regarding the use of Pharmaceutical Cannabis. For instance, while some countries have fully legalized Cannabis for medical purposes, others have more restrictive laws in place. This patchwork of regulations creates a complex market landscape for Pharmaceutical Cannabis companies operating in Europe. Additionally, cultural attitudes towards Cannabis vary across the region, influencing consumer acceptance and market growth.

Underlying macroeconomic factors:
The Pharmaceutical Cannabis market in Europe is also influenced by macroeconomic factors such as healthcare spending, government policies, and technological advancements. As governments increasingly recognize the medical benefits of Cannabis, there is a growing trend towards legalization and regulation of Pharmaceutical Cannabis products. This, coupled with investments in research and development, is driving innovation and market growth in the region. Furthermore, the economic impact of the COVID-19 pandemic has highlighted the importance of healthcare resilience, leading to a greater focus on alternative treatment options like Pharmaceutical Cannabis.

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.

Visión general

  • Revenue
  • Users
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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