| Label | Americas |
|---|---|
| 2018 | 5914.39 USD Mn |
| 2019 | 7777.87 USD Mn |
| 2020 | 9733.74 USD Mn |
| 2021 | 11398.18 USD Mn |
| 2022 | 12989.88 USD Mn |
| 2023 | 14747.47 USD Mn |
| 2024 | 16689.97 USD Mn |
| 2025 | 18736.44 USD Mn |
| 2026 | 20959.65 USD Mn |
| 2027 | 23337.67 USD Mn |
Data Source: Wantstats Repository
Cannabis, also known as marijuana, has been widely used for medicinal purposes for centuries. However, in recent years, there has been a surge in the demand for medical cannabis in the Americas. This can be attributed to the growing acceptance and legalization of cannabis for medical use in various countries in North and South America. One of the major factors driving the demand for medical cannabis in the Americas is the increasing awareness about its potential health benefits. Research has shown that medical cannabis can be used to treat a variety of conditions such as chronic pain, epilepsy, anxiety, and even cancer. This has led to a shift in perception towards cannabis, with more people viewing it as a legitimate form of medicine rather than a recreational drug. Another major factor contributing to the demand for medical cannabis in the Americas is the opioid epidemic. Opioids, commonly prescribed for pain management, have led to a widespread addiction problem in the region. As a result, many patients and doctors are turning to medical cannabis as a safer and non-addictive alternative for pain relief.
This trend is expected to continue as more research is conducted on the potential of medical cannabis as a pain management tool. The increasing number of countries legalizing medical cannabis in the Americas is also a significant factor in the market demand. Canada, Uruguay, and several states in the United States have already legalized medical cannabis, while Mexico, Argentina, and Colombia are in the process of legalizing it. This has opened up a new market for medical cannabis, leading to an increase in both domestic and international demand. Furthermore, the COVID-19 pandemic has also played a role in boosting the demand for medical cannabis in the Americas. With many people stuck at home and facing increased levels of stress and anxiety, there has been a rise in the use of medical cannabis as a means of self-medication. This has led to an increase in demand for medical cannabis products such as oils, tinctures, and edibles. In conclusion, the demand for medical cannabis in the Americas is driven by a combination of factors including increased awareness about its health benefits, the opioid epidemic, legalization efforts, and the impact of the COVID-19 pandemic.
As more countries continue to legalize medical cannabis, the demand is expected to rise, and the market is poised for significant growth in the coming years.
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2024.
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Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
R&D Director, Seojin
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Americas Medical Cannabis Market, 2018-2027
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