According to IMARC Group’s latest report, titled “Thailand Medical Cannabis Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the Thailand medical cannabis market size reached a value of US$ 79 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,195 Million by 2027, exhibiting a CAGR of 55.6% during 2022-2027.
Cannabis refers to a psychoactive drug that is generally extracted from cannabis indica, cannabis ruderalis and cannabis sativa plants. It is extensively used in the manufacturing of medicines since it contains tetrahydrocannabinol (THC) that offers a relaxing and calming effect when consumed. Therefore, it is widely utilized for treating several medical conditions, such as chronic pain, inflammation, insomnia, anxiety and depression. Apart from this, it is consumed by patients in pill form who are undergoing cancer chemotherapy and suffering from acquired immunodeficiency syndrome (AIDS). In Thailand, it is also provided to women to ease labor pains and used as a condiment in cooking.
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Thailand Medical Cannabis Market Trends:
The market in Thailand is primarily driven by the increasing prevalence of chronic illnesses among the masses. Moreover, the rising awareness regarding the medicinal benefits of cannabis has provided a boost to the market growth. This has impelled the government to legalize cannabis farming in order to utilize it for medicinal purposes. In line with this, significant growth across the pharmaceutical industry is creating a positive outlook for the market across the country. Furthermore, the favorable annual tropical climate of the country and the easy product availability via offline and online channels are also positively influencing the market growth. Other factors, including continuous improvements in the healthcare infrastructure, the introduction of numerous health supplements for treating psychotic ailments and extensive research and development (R&D) activities conducted by key players in order to introduce effective product variants, are further positively influencing the market growth across Thailand.
Competitive Landscape With Key Players:
The competitive landscape of the thailand medical cannabis market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Market Segmentation:
The report has segmented the thailand medical cannabis market on the basis of cultivated species, derivatives, application areas, end-use and route of administration.
Breakup by Cultivated Species:
- Indica
- Sativa
- Hybrid
Breakup by Derivatives:
- Cannabidiol (CBD)
- Tetrahydrocannabinol (THC)
- Others
Breakup by Application Areas:
- Cancer
- Arthritis
- Migraine
- Epilepsy
- Others
Breakup by End-Use:
- Pharmaceuticals
- Research and Development Centres
- Others
Breakup by Route of Administration:
- Oral Solutions and Capsules
- Vaporizers
- Topicals
- Others
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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