North America Medical Marijuana Market With a Whooping CAGR 19.4% A Higher Value By 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.   

Rising Approvals of Medical Marijuana Products Drive Growth in the North American Market
The growing recognition of marijuana’s medicinal potential is fueling its adoption across the healthcare sector in North America. Key compounds such as tetrahydrocannabinol (THC) are widely utilized in the development of therapeutic products. For instance, the US Food and Drug Administration (FDA) has approved several THC-based medications. Cesamet, which contains the synthetic THC analogue nabilone, is prescribed for chemotherapy-induced nausea and vomiting when other treatments fail. Similarly, Marinol and Syndros—both containing dronabinol, a synthetic form of delta-9-THC—have received FDA approval. These drugs are used to stimulate appetite in patients suffering from AIDS-related wasting syndrome.

Additional marijuana-derived medications are either approved in other markets or under clinical evaluation. For example, Nabiximols (Sativex), a combination of THC and cannabidiol (CBD), is approved in Canada to manage spasticity and neuropathic pain associated with multiple sclerosis. In February 2020, CanaQuest Medical Corp applied to Health Canada under the Cannabis Act for the approval of Mentabinol, a THC-based product intended for commercialization. These regulatory milestones are collectively propelling the expansion of the North America medical marijuana market.

Overview of the North America Medical Marijuana Market
The North America medical marijuana market comprises the US, Canada, and Mexico, with the US representing the largest market share. This dominance is driven by increased research initiatives, strategic partnerships, heightened public awareness, and the active presence of key industry players. Additionally, the region's aging population contributes to rising demand for medical marijuana as an alternative therapeutic option.

Strategic Insights into the North America Medical Marijuana Market
Strategic insights into the North American medical marijuana sector highlight key industry dynamics, current trends, and market participants. These data-driven evaluations provide stakeholders with actionable guidance for identifying unmet market needs and developing distinct value propositions. By leveraging analytics, businesses can anticipate future shifts in market demand, improve competitive positioning, and make informed decisions. Whether for investors, manufacturers, or healthcare providers, having a forward-looking strategy is essential for long-term success in this rapidly evolving industry.

Regional Insights on the North America Medical Marijuana Market
Understanding regional dynamics is crucial for success in the North American medical marijuana market. Market strategies must account for local preferences, economic conditions, and varying regulatory environments. For example, differences in product demand or policy frameworks between US states or Canadian provinces require tailored approaches. Businesses can expand more effectively by identifying underserved regions and customizing offerings to meet specific local needs. A focused geographic strategy also enables efficient resource use, targeted marketing efforts, and stronger positioning against local competitors—ultimately enhancing regional growth and profitability.

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

Other Reports:

North America Gummy Supplements Market: https://penzu.com/p/8503c42ca09ae4f7 

North America Radiation-Hardened Electronics Market: https://github.com/SuryakantGadekar/Business-Market-Insights/issues/26 

North America mHealth Market: https://sites.google.com/view/n-mhealth-market/home 

North America Synthetic Biology Market: https://business-news-insights.blogspot.com/2025/05/north-america-synthetic-biology-market.html   

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

Comments

Post a Comment

Popular posts from this blog

North America Small Satellite Market Trends, Opportunity and Forecast 2022 to 2028

Image
The  North America Small Satellite Market  is expected to grow from US$ 1,325.42 million in 2022 to US$ 4,976.36 million by 2028; it is estimated to grow at a CAGR of 24.7% from 2022 to 2028. Growing Support for Small Satellite Development Governments and companies across North America are increasingly investing in the small satellite market to meet the growing demand for applications such as Earth observation, communication, navigation, and scientific research. In November 2021, Fleet Space Technologies secured $26 million in funding to expand its nanosatellite IoT connectivity fleet. Such investments from both public and private sectors are fueling market growth. Small satellites play a crucial role in enhancing national security, monitoring disaster-affected areas, tracking suspicious maritime activities, and supporting communication and scientific research. To further boost the industry, governments are promoting initiatives for rapid construction and domestic production o...
Read more

North America Small Satellite Market Current Status by 2028 Top Players

Image
The  North America small satellite market  is expected to grow from US$ 1,325.42 million in 2022 to US$ 4,976.36 million by 2028; it is estimated to grow at a CAGR of 24.7% from 2022 to 2028. Rising Support for Small Satellite Development In North America, both government entities and private companies are increasingly investing in the small satellite market, driven by growing demand across diverse applications such as Earth observation, communications, navigation, and scientific research. For example, in November 2021, Fleet Space Technologies secured US$26 million in funding to enhance its nanosatellite IoT connectivity network. Such initiatives reflect the strong governmental and private sector backing that is fueling the North America small satellite market growth. Small satellites play a critical role in national security, disaster response (e.g., monitoring earthquake or flood-affected regions), maritime surveillance, and support for communication, navigation, and resear...
Read more

North America Small Satellite Market Latest Innovations, Top Players Forecast 2028

Image
The North America small satellite market is expected to grow from US$ 1,325.42 million in 2022 to US$ 4,976.36 million by 2028; it is estimated to grow at a CAGR of 24.7% from 2022 to 2028. Growing Support for Small Satellite Development Government agencies and private companies across North America are increasingly investing in the small satellite market, driven by the growing demand for their use in applications such as Earth observation, communication and navigation, and scientific research. For example, in November 2021, Fleet Space Technologies secured US$26 million to expand its nanosatellite IoT connectivity fleet. These kinds of investments from both public and private sectors are significantly contributing to the  market’s expansion . Small satellites enable government authorities to perform a wide range of critical functions, including maintaining national security, monitoring natural disaster zones, tracking suspicious maritime activities, and supporting communicati...
Read more