The global market for Medical Marijuana was valued at US$41.3 Billion in 2024 and is projected to reach US$92.4 Billion by 2030, growing at a CAGR of 14.4% from 2024 to 2030.

That’s according to the Medical Marijuana Global Strategic Business Report 2025, compiled by Researchandmarkets.com, and released in Dublin, Ireland on 2 May 2025.

Widely-varying regulatory regimes are a challenge

It notes that the medical cannabis market is shaped by a complex regulatory landscape that varies widely between countries and even within states or regions of the same country.

The report says the medical cannabis market is driven by several factors, including the increasing legalization of cannabis for medical purposes in various regions. As more countries and states recognize the therapeutic potential of cannabis, the market expands, driven by increased access to legal products.

Technological advancements in cultivation, extraction, and product formulation have also contributed to market growth, as they lead to higher-quality and more effective medical cannabis products.

The rising prevalence of chronic diseases, particularly pain-related conditions, cancer, and neurological disorders, further fuels demand for medical cannabis as an alternative to traditional pharmaceuticals.

Growing patient awareness of cannabis benefits is also driving the market

Additionally, the report notes growing patient awareness and acceptance of cannabis-based treatments, coupled with the diminishing social stigma, are propelling the market forward.

Regulatory reforms that streamline the approval and distribution process for medical cannabis products also play a significant role in expanding market opportunities globally, ensuring continued growth and innovation in the medical cannabis sector.

But the report notes that “while many regions have legalized medical marijuana, the regulatory framework surrounding its cultivation, distribution, and use is often restrictive, requiring rigorous licensing processes, testing, and quality control measures to ensure safety and efficacy”.

Social stigma still an issue

“Additionally, medical marijuana continues to face social stigma, despite growing evidence of its therapeutic benefits. Many patients and healthcare providers are still hesitant to adopt cannabis-based treatments due to concerns about legality, side effects, and the potential for misuse. However, as research continues to support the medical benefits of cannabis, public perception is slowly shifting, and healthcare providers are becoming more open to its integration into patient care plans”.

The report says that addressing these regulatory and social challenges is “critical to the sustained growth and acceptance of medical marijuana in mainstream healthcare”.

Buy the Medical Marijuana Global Strategic Business Report 2025 here