U.S. Cannabis Market Size Worth $31.7 Billion By 2025 | CAGR: 14.5%Posted by On

The U.S. Cannabis Market size is expected to reach USD 31.7 billion by 2025, exhibiting a CAGR of 14.5% during the forecast period, according to a new study by Grand View Research, Inc. Increasing adoption of medical marijuana for treatment of various medicinal conditions, along with addition of various applications in medical marijuana programs of each state, is expected to drive the market over the forecast period.

The use of cannabis for medical purposes is gaining momentum due to its recent legalization in various states of the country. The application areas for cannabis can be classified into chronic pain, mental disorders, cancer, and other medicinal conditions. Chronic pain accounted for the largest share by application in 2018 and is expected to grow at a lucrative rate over the forecast period. This due to a large patient base and increasing number of medical conditions/trauma associated with chronic pain. On the other hand, marijuana use for treatment of mental…

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