Cannabis market advances and targets $106.5 billion

The medical cannabis market could surpass $106.5 billion by 2030, driven by the expansion of legal access, advances in scientific research, and the development of new products. The projection comes from consulting firm The Business Research Company and signals a transformation that goes beyond the numbers: medical cannabis is occupying an increasing space in discussions about healthcare, innovation, and the global economy.

Cannabis market expected to surpass $106 billion

According to the report Medical Marijuana Market Report 2026, by The Business Research Company, the medical cannabis market was estimated at $39.52 billion in 2025. For 2026, it is projected to reach $48.13 billion.

The consulting firm projects that the industry will reach $106.49 billion in 2030, with a compound annual growth rate of 22% between 2026 and 2030.

The figures indicate significant expansion, but it is important to consider that this is a market estimate, not a guaranteed result. Regulatory changes, economic conditions, and patient adoption may alter this trajectory.

Medical cannabis: what is driving growth?

According to the analysis by The Business Research Company, several factors help explain the industry's expansion outlook. Among them are the broadening of regulations for medical use, growing demand for treatments, and investments in research and development of cannabis-based products.

Advancements in extraction and formulation technologies also feature among the elements that could benefit the industry, enabling the development of different presentations and delivery methods.

Among the trends observed and reported on the portal The Marijuana Herald are:

• Pharmaceutical research: investments in the development of cannabinoid-based medications.
• Product diversification: oils, tinctures, extracts, concentrates, and other formulations.
• Access and distribution: expansion of authorized sales channels and telemedicine services, according to each country's regulations.
• Regulation: public policy shifts that can expand or restrict access to medical cannabis.

Economic growth, however, should not be confused with proven efficacy for all health conditions. Therapeutic use depends on available evidence for each indication, clinical evaluation, and local health regulations.

LEARN MORE: Cannabis Connection brings the market together to discuss the new cannabis landscape in Brazil

Global cannabis market shows regional differences

North America held the largest share of the global medical cannabis market in 2025, according to the report. Meanwhile, the Asia-Pacific region is expected to see the fastest growth in the coming years.

The analysis covers markets in South America, Europe, Africa, the Middle East, and Asia, in addition to North America. The performance of each region depends on factors such as regulation, distribution infrastructure, investment, and access conditions to medical products.

This scenario also helps explain why there is no single trajectory for the industry. Countries with established regulatory frameworks present conditions distinct from those found in markets where access is still developing.

Which companies are on the industry's radar?

The report cites companies such as Curaleaf, Trulieve, Green Thumb Industries, Cresco Labs, Tilray, Canopy Growth, Aurora Cannabis, Organigram, and Planet 13 among the participants in the analyzed market.

The presence of these companies illustrates the corporate scale of the sector and the participation of various organizations in the production, distribution, and commercialization of medical cannabis-related products.

Even so, industry growth projections do not guarantee financial results for specific companies. The performance of each business depends on its strategies, competition, regulatory requirements, and market conditions.

LEARN MORE: Cannabis import market grows 51% in two years in Brazil

What to expect from the cannabis market by 2030?

The $106.49 billion projection places medical cannabis among the sectors worth watching in discussions on healthcare innovation and regulatory transformation. The progress of research, the development of formulations, and the expansion of legal access could influence the next chapters of this industry.

Yet there is an essential distinction: market growth does not in itself mean that all available products have proven efficacy or are suitable for every patient.

For expansion to translate into concrete benefits, high-quality research, safety, responsible information, and regulated access must go hand in hand.

More than merely tracking billion-dollar figures, observing how science, public policy, and patient needs connect will be fundamental to understanding the future of medical cannabis.