Medical Marijuana Market Size Worth $65.9 Billion By 2030
Medical Marijuana Industry Overview The global medical marijuana market size is expected to reach USD 65.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 21.6% from 2022 to 2030. It has been identified that, in 2016, Washington D.C. along with 28 states legalized marijuana for medical uses. In 2016, states such as Arkansas, Florida, North Dakota, Ohio, and Pennsylvania were approved to use the drug in medical applications such as chemotherapies and pain management. The growing number of states and countries getting approval for using it in therapeutic applications is one of the crucial factors driving the demand over the coming few years. Medical Marijuana Market Segmentation Grand View Research has segmented the global medical marijuana market by product type, application, and region: Based on the Product Type Insights, the market is segmented into Flower, Oil & Tinctures. ...