Legal Marijuana Market Size 2020 | Share, Price, Trends, Growth and Forecast 2025

• Canopy Growth Corp. (NYSE: CGC)
• Aphria, Inc (NASDAQ: APHA)
• Aurora Cannabis (NYSE: ACB)
• Maricann Group, Inc. (OTCMKTS: MRRCF)
• GW Pharmaceuticals, plc. (NASDAQ: GWPH)
• VIVO Cannabis Inc. (OTCMKTS: VVCIF)
• Others

The growth in the legalization of cannabis in numerous nations is a prime determinant stimulating market germination. The effectiveness of marijuana for therapeutic objectives is augmenting momentum across the world due to current legalizations in multiple nations. Medicinal hemp is used for the medication of persistent diseases, such as malignancy, arthropathy, and neurological maladies, such as stress, panic attacks, Alzheimer’s sickness, and Parkinson’s disorders. The high predominance of cancer is anticipated to be essential circumstances propelling the requirement for legalized marijuana.

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The high prevalence of cancer is expected to be one of the factors driving the demand for legal marijuana. For instance, according to the World Health Organization (WHO), cancer is the second leading cause of death in the world and was responsible for about 8.8 million deaths in 2015. In addition, the growing disease burden of chronic pain and significant side effects associated with opioid usage is expected to drive the demand for medical cannabis, which has proved to be a potent product for chronic pain management.

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Based on medical applications, the chronic pain segment dominated the legal marijuana market in 2019 owing to presence of a large patient pool. On the other hand, mental disorder application is expected to witness the fastest growth over the forecast period owing to the growing number of patients suffering from mental disorders, such as anxiety disorder, depressions, and Alzheimer’s disease.

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