North America Medical Marijuana Market Current Status by Major Key Vendors 2028


The North America Medical Marijuana Market is expected to grow from US$ 7,170.17 million in 2022 to US$ 20,760.41 million by 2028. It is estimated to register a CAGR of 19.4% from 2022 to 2028.   

Growing Approvals of Products Propel North America Medical Marijuana Market Expansion

The medicinal potential of marijuana has spurred extensive research and investment in its medical applications. Tetrahydrocannabinol (THC) is a key component in many marijuana-based medicinal products. The US Food and Drug Administration (FDA) has approved several THC-based drugs, such as Cesamet, which contains nabilone, a synthetic compound with a structure similar to THC. Cesamet is prescribed to chemotherapy patients experiencing severe nausea and vomiting when other treatments prove ineffective. Additionally, the FDA has approved Marinol and Syndros, which contain dronabinol—a synthetic form of THC known for its psychoactive properties. These drugs are primarily prescribed to stimulate appetite in individuals suffering from AIDS-related wasting syndrome.

Several other marijuana-derived products have also received approval or are undergoing clinical trials. For instance, nabiximols (Sativex), a cannabis-based extract formulated with THC and cannabidiol (CBD), is commercially available in Canada for treating spasticity and neuropathic pain associated with multiple sclerosis. Furthermore, in February 2020, CanaQuest Medical Corp, a Canadian company, applied for regulatory approval from Health Canada for Mentabinol, a THC-based product, under the Cannabis Act. The increasing FDA approvals of such medical marijuana products are significantly driving the expansion of the North America Medical Marijuana Market.

North America Medical Marijuana Market Segments Covered

North America Medical Marijuana Market By Product Type

  • Dried Form
  • Extract Form

North America Medical Marijuana Market By Application

  • Pain Management
  • Tourette's
  • Alzheimer's Disease
  • Migraines
  • Depression and Anxiety
  • Multiple Sclerosis
  • Cancer

North America Medical Marijuana Market By Distribution Channel

  • Retail Pharmacy
  • E-Commerce

North America Medical Marijuana Market Regions and Countries Covered

North America

  • US
  • Canada
  • Mexico

North America Medical Marijuana Market leaders and key company profiles

  • Aphria, Inc.
  • CanaQuest Medical Corporation
  • Canopy Growth Corporation
  • Emerald Health Therapeutics Inc.
  • GW Pharmaceuticals
  • MARICANN INC.
  • Organigram Holdings Inc.
  • Panaxia Pharmaceutical Industries Ltd.
  • Phoena Holdings Inc.
  • VIVO Cannabis Inc

North America's Medical Marijuana Market Overview

The North America medical marijuana market is segmented into the US, Canada, and Mexico, with the US holding the largest market share. The market's growth is fueled by rising research initiatives, strategic collaborations, and increasing awareness of medical marijuana's therapeutic benefits. Additionally, the presence of leading industry players and the region’s growing aging population further contribute to market expansion.

Strategic Insights for the North America Medical Marijuana Market

A data-driven analysis of the North American medical marijuana industry reveals key trends, major players, and regional market dynamics. These insights enable stakeholders to identify untapped market segments and develop unique value propositions to stay ahead of the competition. By leveraging data analytics, industry participants—including investors and manufacturers—can anticipate market shifts and position themselves for long-term success. A forward-looking approach is crucial in this evolving sector, allowing businesses to make informed decisions, optimize profitability, and capitalize on emerging opportunities within the North American medical marijuana market.

Other Reports:

North America Small Satellite Market: https://postyourarticle.com/north-america-small-satellite-market-regional-analysis-key-players-growth-2028/ 

North America Airway Management Devices Market: https://business-news-insights.blogspot.com/2025/04/north-america-airway-management-devices.html 

North America Hospital Bed Market: https://sites.google.com/view/north-america-hospital-bed-mar/home 

North America Ammunition Market: https://www.globalpostnews.com/uncategorized/north-america-ammunition-market-future-growth-business-prospects-by-2028/ 

About Us:

Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.

Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights

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