Global Medical Cannabis Market, by Others ,

Synopsis
The above chart is Global Medical Cannabis Market, by Others (USD Million), 2018-2027

Market Dynamics

the global medical cannabis market has been gaining significant traction in recent years due to the increasing acceptance and legalization of cannabis for medicinal purposes. while the market is primarily dominated by pharmaceutical and biotech companies, there is also a growing demand for medical cannabis products from other sectors. one such sector is the wellness and beauty industry. with the increasing focus on natural and organic products, there has been a significant rise in the demand for cbd-infused skincare and beauty products. cbd, a non-psychoactive component of cannabis, has shown promising results in treating various skin conditions such as acne, psoriasis, and eczema. this has led to the emergence of a new segment in the market, often referred to as the "cannabis beauty" industry. in addition to beauty and skincare, the food and beverage industry is also showing an interest in incorporating cannabis into their products. with the legalization of cannabis in some countries for recreational use, there has been a surge in the demand for cannabis-infused edibles. from cannabis-infused gummies and chocolates to cbd-infused beverages, manufacturers are constantly exploring new ways to incorporate cannabis into their products. this has opened up a whole new market for medical cannabis, especially for those who may not be comfortable with traditional forms of consumption such as smoking. furthermore, the veterinary industry is also looking at the potential benefits of medical cannabis in treating various ailments in animals. as with humans, cannabis has shown promise in managing pain, inflammation, and anxiety in pets. this has prompted veterinary companies to develop cannabis-based products specifically tailored for animals, such as cbd-infused treats and tinctures. another sector that is increasingly using medical cannabis products is the sports and fitness industry. athletes are turning to cbd for pain management and inflammation relief, as well as for its potential to improve sleep and promote overall wellness. as more research is conducted on the benefits of cannabis for athletic performance, the demand for cannabis-based products in this industry is expected to grow. in conclusion, while the pharmaceutical and biotech companies may be driving the medical cannabis market, the demand for cannabis products from other sectors cannot be ignored. from beauty and skincare to food and beverage, veterinary, and sports and fitness industries, the demand for medical cannabis is only expected to increase in the coming years.