Thailand Medical Cannabis Market Size, Share and Forecast to 2027
According to IMARC Group’s latest report, titled “Thailand Medical Cannabis Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the Thailand medical cannabis market trends.
The Thailand medical cannabis market size reached 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. Medical cannabis is derived from the Cannabis sativa plant that is primarily used to ease symptoms caused by medical conditions. Tetrahydrocannabinol (THC) is the main psychoactive part of cannabis that is used for medicinal purposes across the globe. Cancer, anorexia, muscle spasms, nausea, Alzheimer’s, Crohn’s disease, epilepsy, Tourette’s, and post-traumatic stress disorder (PTSD) are some of the medical conditions that can be treated using medical cannabis. In Thailand, medical cannabis is extensively used as traditional medicine, a condiment in cooking, and for several medical purposes, such as easing labor pains and muscle relaxers.
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Thailand Medical Cannabis Market Trends:
The primary factor driving the medical cannabis market in Thailand is the legalization of the product for medical purposes. Additionally, the country is backed by the annual tropical climate that is considered ideal for cannabis cultivation, further resulting in lower production costs. In line with this, key market players are heavily investing in establishing their manufacturing facilities in Thailand due to the climatic advantage, which is providing a significant boost to the market growth. Moreover, rapid technological advancements and the increasing prevalence of chronic diseases are accelerating the market growth. Other factors, such as the rising number of clinical trials, surging investments in research and development (R&D) activities, and the rapidly growing geriatric population, are creating a positive outlook for the market.
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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