Medical Marijuana Market Size, Industry Growth, Trends, Share and Forecast Analysis | Hits US$ 40,027.59 million by 2028 – World News ReportPosted by On

Increasing Approvals of Medical Marijuana Products and Rising Acceptance of Medicinal Use of Marijuana to Drive Global Medical Marijuana Market During 2022–2028

NEW YORK, UNITED STATES, December 6, 2022 / — According to our latest study on “Medical Marijuana Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Application, Distribution Channel, and Geography,” the market was valued at US$ 11,706.50 million in 2021 and is projected to reach value of US$ 40,027.59 million by 2028; it is estimated to grow at a CAGR of 19.2% from 2022 to 2028. Increasing approvals of medical marijuana products and rising acceptance of medicinal use of marijuana in America are propelling the market growth. However, the illegal use of cannabis as a street drug and misconceptions regarding marijuana are hampering the market growth.

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Medical marijuana is a term for derivatives of the Cannabis sativa plant that are used to ease symptoms caused by certain medical conditions. Medical marijuana is also known as medical cannabis. Cannabis sativa contains many active compounds. Medical marijuana uses the marijuana plant or chemicals in it to treat diseases or conditions. It is the same product as recreational marijuana but is taken for medical purposes. The marijuana plant contains more than 100 different…

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