Tetra Bio Pharma Inc TBPMQ

Global Medical Cannabis Market Drivers:

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• Cannabis is safer and has less severe side effects in comparison to other treatment options. It also finds usage along with other treatments either to enhance their efficacy or to combat adverse side effects. For instance, it is very effective in reducing nausea and increasing appetite among chemotherapy patients. Similarly, it is also used in combination with traditional opioid painkillers, which enables patients to reduce the dosage and frequency of opioids significantly and imparts greater pain relief.
• The steadily aging population across the globe has played a significant role in driving the demand for medical cannabis as geriatric patients are more likely to develop chronic illnesses and require more physician visits.
• Clinical trials, research and development (R&D) activities and commercialization of cannabis-based indications are further expected to catalyze the growth of the market.
• Although expenditure on health products is less susceptible to fluctuations, the uptake of medical marijuana is liable to changes in disposable income due to its unconventional nature.  As a result, increasing disposable incomes are projected to create a positive impact on the demand for medical cannabis.

The global medical cannabis market reached a value of US$ 7.8 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 15.3% during 2021-2026. $$$