Mexico Medical Cannabis Market: Growth Forecast and Trends 2024-2032

The latest report by Expert Market Research titled, 'Mexico’s Medical Cannabis Market Size, Share, Price, Trends, Growth, Market Report and Forecast 2024-2032', offers a detailed exploration of Mexico's burgeoning medical cannabis sector. This report segments the market into products and applications, highlighting the latest industry trends and their overarching impact.

Market Overview

Mexico's medical cannabis market has reached a pivotal USD 187 million in 2023 and is forecasted to grow at an impressive CAGR of 46.4% from 2024 to 2032, potentially reaching USD 1870 million. The burgeoning market is largely driven by medical cannabis's growing acceptance for treating chronic conditions such as cancer, neurological disorders, and chronic pain, alongside its application in mental health for conditions resistant to traditional treatments.

Get a Free Sample Report with Table of Contents – https://www.expertmarketresearch.com/reports/mexico-medical-cannabis-market-report/requestsample

Industry Definition and Segmentation

Medical cannabis, derived from the Cannabis genus, has long been recognized for its analgesic and antispasmodic properties. The market is segmented based on products and their applications:

Products:

• Buds
• Oils
• Tinctures

Applications:

• Chronic Pain
• Mental Disorders
• Cancer
• Others

Mexico's Medical Cannabis Market Trends

Medical cannabis is poised to become a lucrative industry in Mexico due to the substantial patient population. Research underlining cannabis's benefits for cancer and other severe ailments is propelling its demand as a therapeutic agent.

The oil segment is expected to witness rapid growth due to its efficacy in treating conditions like cancer-related nausea, sleep issues, anxiety, and stress. Following closely, tinctures are projected to grow significantly due to their quicker onset of effects compared to oils.

Market Dynamics

The market's expansion is further fueled by the increasing disease burden and the escalating adoption of cannabis for medical use. The industry's growth trajectory is supported by legislative shifts and a societal shift toward acknowledging cannabis's therapeutic potential.

Key Market Players

Dominating the market are key players such as Sartorius de México S.A. de C.V. (Sartorius AG), Aurora Cannabis, GW Pharmaceuticals, plc., Canopy Growth Corporation., HempMeds, CV Sciences, Inc., ENDOCA, Isodiol International, Inc., CBD Life, PharmaCielo all contributing to the industry’s growth with their innovative products and strategic market initiatives.

Related Reports:

Germany DC Distribution Network Market: https://bit.ly/3uhbcQs

UAE Air Conditioner Market: https://bit.ly/47r5uKs

Argentina Mattress Market: https://bit.ly/4727Gbi

Media Contact:

Company Name: Claight Corporation
Contact Person: Mathew Williams, Business Consultant
Email: [email protected]
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: https://www.expertmarketresearch.com