Thailand Medical Cannabis Market 2023: Size, Industry Overview, Trends, Future Scope, Regional Analysis and Business Opportunities by 2028

The latest report published by IMARC Group, titled “Thailand Medical Cannabis Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The Thailand medical cannabis market size reached US$ 122.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,408.0 Million by 2028, exhibiting a growth rate (CAGR) of 53.2% during 2023-2028.

Cannabis represents a psychoactive drug that is generally extracted from cannabis indica, cannabis ruderalis, and cannabis sativa plants. It is widely used in the manufacturing of medicines since it contains tetrahydrocannabinol (THC) which offers a relaxing and calming effect when consumed. Therefore, cannabis is extensively utilized for treating numerous medical conditions, including chronic pain, inflammation, insomnia, anxiety, depression, etc. It is further consumed by patients in pill form who are undergoing cancer chemotherapy and also suffering from acquired immunodeficiency syndrome (AIDS). In Thailand, cannabis is also provided to women to ease labor pains and is used as a condiment in cooking.

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Thailand Medical Cannabis Market Trends:

The growing prevalence of chronic illnesses among people is among the key factors stimulating the Thailand medical cannabis market. Moreover, the rising awareness regarding the medicinal benefits of the psychoactive drug across the country is acting as another significant growth-inducing factor. Besides this, the legalization of cannabis farming by government bodies to use it for medicinal purposes is positively influencing the market growth. Furthermore, the expanding pharmaceutical sector is also propelling the market growth across the country. Apart from this, the favorable annual tropical climate of the country and the easy product availability via offline and online channels are further fuelling the market growth. Additionally, the increasing improvements in the healthcare infrastructure, the introduction of several health supplements for treating psychotic ailments, and the extensive R&D activities conducted by key players to introduce effective product variants are anticipated to fuel the Thailand medical cannabis market over the forecasted period. 


Competitive Landscape With Key Players:

The competitive landscape of the thailand medical cannabis market has been studied in the report with the detailed profiles of the key players operating in the market.

Key Market Segmentation:

The report has segmented the thailand medical cannabis market on the basis of cultivated species, derivatives, application areas, end-use and route of administration.

Breakup by Cultivated Species:

  • Indica
  • Sativa
  • Hybrid

Breakup by Derivatives:

  • Cannabidiol (CBD)
  • Tetrahydrocannabinol (THC)
  • Others

Breakup by Application Areas:

  • Cancer
  • Arthritis
  • Migraine
  • Epilepsy
  • Others

Breakup by End-Use:

  • Pharmaceuticals
  • Research and Development Centres
  • Others

Breakup by Route of Administration:

  • Oral Solutions and Capsules
  • Vaporizers
  • Topicals
  • Others

Ask Analyst for 10% free customized report: https://www.imarcgroup.com/request?type=report&id=1188&flag=C

This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Key Highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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