Pharmaceutical Cannabis - France

France

France is projected to reach a revenue of €80.05m in Pharmaceutical Cannabis by 2024.
The market is expected to show an annual growth rate (CAGR 2024-2029) of 5.09%, leading to a market volume of €102.60m by 2029.
When compared globally, the United States will generate the most revenue, amounting to €846.70m in 2024.
In terms of per person revenues in 2024, €4.20k are generated based on total population figures.
France's evolving regulations are shaping a promising future for Pharmaceutical Cannabis in the burgeoning French Cannabis market.

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

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Analyst Opinion

France has seen a significant growth in the Pharmaceutical Cannabis market, with various factors driving this development.

Customer preferences: Customers in France are increasingly turning towards Pharmaceutical Cannabis products due to growing awareness about the potential health benefits associated with them. The shift towards natural and organic remedies is also influencing consumer preferences in the pharmaceutical sector.

Trends in the market: One of the key trends in the Pharmaceutical Cannabis market in France is the expanding legalization of medical cannabis products. This has opened up new opportunities for pharmaceutical companies to introduce innovative cannabis-based medications to cater to the rising demand. Additionally, the integration of technology in the production and distribution processes is streamlining operations and enhancing market reach.

Local special circumstances: France has a long history of strict regulations surrounding cannabis, which has influenced the slow adoption of Pharmaceutical Cannabis products in the past. However, recent changes in legislation and a more favorable attitude towards medical cannabis are creating a conducive environment for market growth. The cultural shift towards accepting cannabis for medicinal purposes is also contributing to the changing landscape of the Pharmaceutical Cannabis market in the country.

Underlying macroeconomic factors: The economic landscape in France, with a strong healthcare system and increasing investments in research and development, is supporting the growth of the Pharmaceutical Cannabis market. The country's stable economy and focus on innovation are attracting pharmaceutical companies to invest in Cannabis-based pharmaceuticals. Moreover, changing consumer preferences and the growing trend of personalized medicine are driving the demand for Pharmaceutical Cannabis products in France.

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.