The cannabis use disorder market comprises pharmaceutical drugs used for the treatment of cannabis use disorder. Cannabis, also known as marijuana, is one of the most commonly used illicit drugs worldwide. Long term cannabis use can lead to dependence and withdrawal symptoms on stopping the drug. The pharmaceutical drugs aim to reduce withdrawal symptoms, cravings and relapse rates. Buprenorphine, Naltrexone and Acamprosate are some of the commonly prescribed medications for cannabis use disorder treatment.
The Global Cannabis Use Disorder Market is estimated to be valued at US$ 1.64 Billion in 2024 and is expected to exhibit a CAGR of 9.3% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Cannabis Use Disorder market are Aelis Farma, Indivior, Pfizer, Corbus Pharmaceuticals, Zynerba Pharmaceuticals.
The growing social acceptance of medical cannabis and the realization of health hazards of long term use has fueled the demand for effective treatment options for cannabis use disorder.
Pharmaceutical companies are expanding their presence globally with new product launches and acquisitions to tap the high growth potential market across regions like North America, Europe, Asia Pacific.
Market Key Trends
One of the key trends gaining traction in the cannabis use disorder market is the development of new formulation and delivery methods for the medication. Pharmaceutical manufacturers are investing in R&D to develop smoking cessation patches, sublingual films and sprays to improve patient compliance. These alternatives to oral medications are aimed at delivering quick relief from withdrawal symptoms and cravings to prevent relapse.
Porter's Analysis
Threat of new entrants: Low barrier to entry due to low capital requirement but established brands have economies of scale advantage.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitute products.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials suppliers.
Threat of new substitutes: Threat of new substitutes is high as alternative treatment options are available for cannabis use disorder.
Competitive rivalry: Intense competition due to established brands and new entrants.
Geographical regions with maximum market share:
North America region currently holds the largest share in the cannabis use disorder market in terms of value, owing to the legalization of medical cannabis in major countries of the region. According to estimates, the North America cannabis use disorder market was valued at USD 1.02 billion in 2024.
Fastest growing region:
Asia Pacific region is expected to witness the highest growth rate over the forecast period. Factors such as increasing awareness regarding cannabis use disorder treatment and government initiatives for quality healthcare will support the growth of the market in the region. The Asia Pacific cannabis use disorder market is projected to expand at a CAGR of 11.1% during 2024-2031.
What Are The Key Data Covered In This Cannabis Use Disorder Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Cannabis Use Disorder 's growth between 2024 and 2031.
:- Accurate calculation of the size of the Cannabis Use Disorder and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Cannabis Use Disorder Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Cannabis Use Disorder vendors
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
