According to IMARC Group’s latest report, titled “Africa Medical Cannabis Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the Africa medical cannabis market is expected to grow at a CAGR of around 30% during 2021-2026. Looking forward, the Africa medical cannabis market is expected to continue its strong growth during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Medical cannabis is a psychoactive drug obtained from the cannabis plants, such as Cannabis Sativa and Cannabis Indica, of the Cannabaceae family. It is used to combat chronic pain and side effects of multiple sclerosis, epilepsy, anxiety, nausea, depression, PTSD and Parkinson’s disease.
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The increasing legalization of cannabis primarily drives the Africa medical cannabis market for various medical purposes. The rising awareness about the benefits and therapeutic effects of cannabis has also escalated its demand across the country. It is used in combination with traditional opioid painkillers, enabling patients to reduce the dosage and frequency of opioids significantly and imparts greater pain relief. Besides this, with the growing geriatric population, the uptake of medical marijuana has increased in the African region. Furthermore, the government of Africa has allowed several pharmaceutical companies to conduct clinical trials, and research and development (R&D) activities to develop safer form of cannabis. These factors are expected to provide a positive impact on the market growth in the coming years.
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List of Key Companies Covered in this Market Report:
- AgriPharma Pty LTD.
- Bophelo Bioscience & Wellness (Pty) Ltd.
- Halo Labs Inc
- Canopy Growth Corporation
- Medigrow Africa
- Medi Kingdom
- MG Health
- Pharmaceutical Development Company
- Precision Extraction Solutions
- Verve Dynamics (Pty) Ltd.
The report has segmented the market on the basis of species, derivative, route of administration, application, end user and country.
Breakup by Species:
- Cannabis Indica
Breakup by Derivative:
Breakup by Route of Administration:
- Capsules and Oral Solutions
Breakup by Application:
Breakup by End User:
- Pharmaceutical Industry
- Research and Development Centers
Breakup by Country:
- South Africa
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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