Cannabis Pharmaceuticals Market Size, Share, Growth Analysis, By Brand(Epidiolex, Sativex), By Region - Industry Forecast 2024-2031

North America, led by countries like the United States and Canada, has been one of the most prominent regions in the global cannabis pharmaceutical market. In recent years, North America has seen a boom in both medical and recreational cannabis legalization, further stimulating market growth. Driven by the increasing acceptance of cannabis as a treatment option and the availability of multiple cannabis-derived pharmaceuticals, the United States, in particular, has seen a tremendous development in the use of cannabis for medicinal purposes. Moreover, North America's rich ecosystem of research and development and the presence of major cannabis pharmaceutical companies greatly contribute to retaining its position in the market.

On the other hand, the Asia-Pacific region has presented the cannabis pharmaceutical market with opportunities and challenges alike. Though there is a growing awareness of the potential medical benefits of cannabis products, several countries in the region have continued to maintain strict regulations against these products. Nevertheless, an increasing acceptance of alternative medicine and the changing perception of cannabis globally, is gradually influencing the market in this region. Additionally, some Asian countries, such as Israel and Australia, have come a long way in cannabis research and have legalized medical cannabis use, which seems to be a good sign for regional market growth. In the long term, the expanding healthcare infrastructure and large population of the Apac region holds a promising ideal for the development of the cannabis pharmaceutical market.