Cannabis Pharmaceutical Market Expected to Reach $72.7 Billion by 2030

The global cannabis pharmaceutical market was valued at $5.2 billion in 2024 and is expected to reach $72.7 billion by 2030. The projection represents a Compound Annual Growth Rate (CAGR) of 55.1% during the period.

The data comes from the report "Cannabis Pharmaceuticals - Global Strategic Business Report", which provides an in-depth analysis of industry trends and drivers.

The cannabis pharmaceutical segment is emerging as a transformative force in the healthcare industry, driven by the growing scientific validation of cannabinoids for medicinal purposes. The legalization of cannabis in various countries has accelerated investments in Research and Development (R&D), leading to the approval of medications to treat conditions such as epilepsy, multiple sclerosis, and chronic pain.

Brazilian Market Follows Upward Trend

In Brazil, the scenario mirrors the global growth trend. Data from the consultancy Close-Up, a specialist in sector analysis, shows that the cannabis-based products market generated R$393 million by March of this year, a 43% increase compared to the previous 12 months.

In terms of units sold, the growth was even more significant, reaching 787 thousand products sold, a 53% increase in the same period. Close-Up's analysis also indicates that cannabinoid derivatives recorded a Compound Annual Growth Rate (CAGR) of 77.8%.

Regarding product types, isolated medications account for the majority of sales in pharmacies (63.7%). However, extracts (36.3%), despite representing a smaller share of the market, already contribute almost as significantly to the category's growth.

Key Drivers of the Global Market

The growth of the cannabis pharmaceutical market is driven by factors such as the expansion of legalization, increased investments in R&D, and patients seeking alternative treatments. Regulatory approvals in North America and Europe have brought legitimacy to the sector, encouraging the development of new formulations.

The opioid crisis has also increased the demand for non-addictive pain control solutions, positioning medical cannabis as a viable alternative. Furthermore, advancements in drug delivery systems and precise dosing are improving treatment effectiveness, further accelerating market expansion.

Research Expanding Pharmaceutical Applications

Ongoing clinical research has demonstrated the therapeutic potential of cannabinoids such as cannabidiol (CBD) and tetrahydrocannabinol (THC), which are essential for the development of new medications. Pharmaceutical companies are investing in extraction and formulation technologies to enhance the bioavailability and stability of these compounds.

Advancements in areas like nanotechnology and encapsulation are improving the effectiveness of oral, transdermal, and inhalable medications. Exploring lesser-known cannabinoids, such as cannabigerol (CBG) and cannabinol (CBN), is also expanding the therapeutic potential of cannabis pharmaceuticals for new fronts, such as neurodegenerative diseases and autoimmune conditions.

Therapeutic Areas Driving Demand

The increased demand for cannabis pharmaceuticals comes from patients with chronic pain, neurological disorders, and mental health conditions. Medications like Epidiolex (CBD-based), approved for rare epilepsies, and Sativex (THC and CBD), used for spasticity in multiple sclerosis, are already established examples.

The growing acceptance of cannabis in pain management is driving its use as an alternative to opioids, especially for cancer and arthritis patients. Research on treatments for anxiety, Post-Traumatic Stress Disorder (PTSD), and sleep disorders continues to expand the therapeutic applications of medical cannabis.