The global market for medical cannabis is on track for explosive growth, projected to skyrocket to $87.41 billion by 2030. This surge, driven by a compound annual growth rate of 20.51%, reflects a powerful shift in how countries and health systems are embracing the therapeutic use of cannabis.
According to a new report by Research and Markets, three main factors are fueling this boom: greater government investment, an uptick in medical research, and the widening global acceptance of cannabis as a legitimate treatment option.
Medical cannabis refers to the use of cannabis plants or their chemical compounds—notably cannabinoids like THC and CBD—for treating a range of conditions. These include chronic pain, anxiety, epilepsy, and chemotherapy-induced nausea, among others. The evidence base for its effectiveness is growing, prompting healthcare systems to integrate it more widely.
But perhaps the most critical driver of this market is the ongoing wave of legislative reforms. Countries such as Australia, Canada, and Germany, along with a large number of U.S. states, have introduced regulatory frameworks that legitimize medical cannabis and control its distribution. These laws are reshaping public perception, transforming cannabis from a taboo substance into a promising pharmaceutical solution.
As regulations continue to evolve and scientific backing expands, the medical cannabis industry is no longer niche—it’s poised to become a central pillar in modern healthcare.
As the global medical cannabis market gains momentum, local and international developments continue to shape its future. In the U.S., states like New Mexico are grappling with regulatory challenges, including critical issues such as water rights for cannabis cultivation. Meanwhile, on the African continent, Rwanda is making strides toward becoming a key player in the sector, with its medical cannabis facility set for completion in 2025. International cooperation is also deepening, as seen in Canada and Thailand’s recent cannabis trade mission, signaling a new phase of cross-border collaboration and market integration.
