1．Medical Cannabis Uses
Medical cannabis mainly refers to the use of the cannabis plant and its extracts to treat diseases or relieve symptoms. Its main ingredients include THC and CBD) THC is the psychoactive component, while CBD does not have this property but has shown potential in relieving inflammation, pain and anxiety.
Medical cannabis is primarily used to treat a variety of illnesses and conditions, including but not limited to:
Pain Management: Medical cannabis has shown significant results in relieving chronic pain, with particular use in cancer treatment and nerve pain.
Neurological disorders: Research shows that cannabis has the potential to be effective in treating neurological disorders such as multiple sclerosis and epilepsy.
An adjunct to cancer treatment: Cannabis is used to relieve nausea and vomiting caused by chemotherapy and can help improve the quality of life of cancer patients.
Other applications: Include treating loss of appetite, muscle spasms, inflammation and certain types of autism symptoms.
3．Market size and Growth Trends
The boom in the medical cannabis market is driven by multiple factors. According to data provided by Mordor Intelligence, the market is expected to expand rapidly at a compound annual growth rate (CAGR) of 17.79% from 2023 to 2028. The medical cannabis market is entering a period of rapid development.
This growth trend is mainly influenced by the following key factors:
l Global legalization trends: Legal attitudes toward medical cannabis have changed significantly around the world in recent years. More and more countries and regions are beginning to recognize and legalize medical cannabis, which provides a legal space for the market to operate. For example, Canada, some U.S. states, and some European countries already allow medical cannabis use.
l Advancement of Medical Research: Medical research plays a vital role in driving market growth. There are constantly new clinical trials and studies demonstrating the efficacy of cannabis in treating conditions such as cancer, epilepsy, chronic pain, and more. These findings strengthen the credibility of medical cannabis and promote its use in the medical field.
l Shift in public awareness: In the past, cannabis was often associated with its recreational use, but now people are increasingly recognizing its medical value. This shift in perception helps reduce stigma against medical cannabis, promoting market acceptance and demand growth.
l Increasing patient demand: As the global population ages and the number of patients with chronic diseases increases, there is a growing need for effective pain management and other symptom relief methods. Medical cannabis, as an alternative treatment method, provides new options for these patients.
l Technological progress and product innovation: Progress in planting technology and product innovation are also important factors driving market growth. In particular, innovations in grow lights technology, such as grow lights customized for cannabis, have greatly improved planting efficiency and yields.
With the rapid growth of the medical cannabis market, VANQ, as a pioneer in smart agricultural solutions, is committed to providing professional and efficient solutions for cannabis growers. Our goal is to create the best growing conditions for your crops at the lowest cost, ensure maximum yield and optimal quality, and jointly welcome this potential future market.