Mexico Medical Cannabis Market Growth and Regional Forecast 2019 - 2025

01/mar/2021 13:58:20 Grand View Research Contatta l'autore

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According to a report published by Grand View Research, the growing adoption of medical marijuana for the treatment of chronic conditions such as cancer, neurological diseases, and chronic pain is a key factor expected to drive the market.

According to a report, “Mexico Medical Cannabis Market Size, Share & Trends Analysis Report By Application (Chronic Pain, Cancer), By Product (Oils, Buds, Tinctures), And Segment Forecasts, 2019 - 2025” published by Grand View Research, Inc., the Mexico medical cannabis market size is expected to reach USD 249.6 million by 2025, exhibiting a CAGR 27.7% over the forecast period. The rising adoption of medicinal marijuana for the treatment of chronic conditions such as Alzheimer’s disease, cancer, arthritis, anxiety, and epilepsy is one of the key factors propelling the Mexican medical cannabis market. Furthermore, approval of CBD derivatives for medicinal use is also expected to drive demand in the coming years.

The cannabis industry is booming due to its increasing adoption for medicinal applications and imminent legalization for recreational use. In Mexico, marijuana is only legalized for medicinal use and is anticipated to be legalized for recreational purposes in an effort to abolish the illicit drug trade and generate tax revenue.

Competition among existing players is moderately high as very few companies have the technology, financial resources, and legal clearance to venture into the large-scale manufacturing of marijuana. Medical marijuana has been legalized in Mexico since June 2017. Health licenses for the cultivation, harvesting, and production of marijuana in the country are exclusively limited to medicinal and research purposes. Laws pertaining to marijuana are not that well-regulated in the nation and go through a secondary regulation by Federal Commission for the Protection against Health Risks.

 Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/mexico-medical-cannabis-market

Mexico Medical Cannabis Market Report Highlights

·         On the basis of product, the marijuana buds segment accounted for 47.4% of the revenue and emerged as the largest segment. The legalization of cannabis for recreational use is anticipated to expand the growth of the segment. 

·         The marijuana oil segment is expected to witness growth in the coming years. Marijuana oil is used for the treatment of diseases and conditions such as cancer and nausea, and can also be used for improving sleep and alleviating stress and anxiety.

·         On the basis of medical application, the chronic pain segment is anticipated to emerge as the largest segment by revenue in the Mexico market.

·         The mental disorders segment is a major application for marijuana. Several disorders such as post-traumatic stress disorder (PTSD), anxiety disorders, depression, bipolar disorder, multiple sclerosis, attention deficit hyperactivity disorder (ADHD), Alzheimer’s, and Parkinson’s disease are all presumed to be effectively treated by medical marijuana, owing to higher therapeutic effects. Due to the legalization of cannabis for medical use in Mexico, demand for the same has increased.

·         In November 2020, after the Mexican Senate passed comprehensive adult-use cannabis legalization. Khiron Life Sciences Corp. announced to deploy its ZereniaTM medical cannabis clinics and telehealth strategy in Mexico.

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