...atus and Growth Opportunities Request to Get Free Sample Pages at: https://www.psmarketresearch.com/market-analysis/medical-marijuana-market/report-sample?utm_source=Social&utm_medium=Group+Post+Pramod&utm_term=medical-marijuana-s&utm_campaign=Pk The global medical marijuana market is expected to witness considerable growth during the forecast period on account of the rise in the number of countries legalizing the consumption of the drug for medicinal purposes and its potential application in the treatment of several chronic diseases. Increasing awareness among healthcare providers and individuals regarding the benefits of medicinal marijuana will also support the market growth in the future. Moreover, growing investments (by both private and public organizations) in research associated with the use of marijuana for medical purposes are expected to continue driving the market growth. Marijuana for medical purposes can be used in the form of buds, oils, and tinctures. Of these, the market for oil-based marijuana is expected to witness the fastest growth, globally, during the forecast period. Adequate dosage and proper route of administration of cannabinoids are the major areas of concern for healthcare providers. The health benefits of using cannabis oil or hemp oil over smoking marijuana have led to the increased demand for oil-based marijuana for medical applications, thereby contributing to its market growth. Players, through the acquisition of other similar companies, are strengthening their position in the medical marijuana market. For instance, in October 2018, Wuhan General Group [China] Inc. (Wuhan) announced that it signed a letter of intent to acquire MJ MedTech Inc. (MedTech), a manufacturer of medical marijuana and cannabidiol (CBD) products. Through this acquisition, Wuhan expects to gain from MedTech’s insights, market value, and advanced technology to establish its presence in the U.S., Canadian, and European markets and strengthen its position in the medical CBD product business..
