COVID-19 Impact Assessment on Medical Cannabis Market: Facts, Figures and Analytical Insights 2020-2023 – Cole of Duty

The Medical Cannabis Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The global Medical Cannabis market was valued at 3520 million US$ in 2018 and will reach 20200 million US$ by the end of 2025, growing at a CAGR of 24.4% during 2019-2025.

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Top Leading Companies of Global Medical Cannabis Market are BOL Pharma, Tilray, Medreleaf Corporation, Aurora Cannabis, Inc, Canopy Growth Corporation, Insys Therapeutics, Inc, Aphria, Inc, MGC Pharmaceuticals Limited, GW Pharmaceuticals, plc, Medical Marijuana Inc and others.

Medicinal cannabis are also known as Medical marijuana, which area used either to treat disease or to improve their symptoms. The two cannabinoids – delta-9-tetrahydrocannabinol (THC) and Cannabidiol (CBD) are used in treatment of certain disease or health conditions such as pain, blood pressure, memory, concentration, appetite, sensory stimulus, muscular problems, and seizures.

The various economies are involved in the activities to legalize the export of medicinal cannabis product, which in turn is expected to fuel growth of the medical cannabis market.

Industry News:

(February 3, 2020, Revadim, Israel) — BOL Pharma (“BOL” or the “Company”), Israel’s leading medical cannabis company, is proud to announce that the Company’s first shipment of medical cannabis arrived in the U.K., reflecting a significant breakthrough for the Israeli cannabis industry and the Israeli economy. The shipment marks a first of its kind collaboration between BOL Pharma and medical centers that specialize in treating chidren with epilepsy and autism in the U.K.

BOL Pharma manufactures medical cannabis products under strict EU-GMP conditions, has entered the global market for the first time. BOL Pharma is the only Israeli company to comply with international regulations and the first to obtain approval for exporting medical cannabis products. The company intends to expand its shipments and supply its unique products to further destinations while providing solutions for unmet medical needs. The current shipment follows the change led by the Israeli government in its resolution dated 27 January 2019, promoted by the Israeli Ministry of Health and the Medical Cannabis Unit. The resolution enables BOL Pharma to operate as a leading exporter of cannabis and its derivatives. Being the largest cannabis supplier in Israel, the company will continue to prioritize ongoing and continuous supplies to patients in Israel.

May 12, 2020: Nanaimo, British Columbia-headquartered Tilray reported a net loss of $184.1 million for its quarter ending March 31, an improvement from the previous period’s $219.1 million loss. Tilray’s adjusted EBITDA loss of $19.7 million was 44% better than the $35.3 million loss it recorded for the fourth quarter of 2019. The company cited cost reductions and operating efficiencies for the improvement.

The financials were in line or better than most analyst expectations.

For example, Bank of Montreal subsidiary BMO Capital Markets forecasted an EBITDA loss of about $30 million for the company.

Tilray attributed its net loss partly to:

  • A currency loss of $28.1 million stemming from a lower Canadian dollar.
  • A change in the fair value of the warrant liability of $72 million.
  • Asset impairment of $29.8 million.

Revenue for the three months ending March 31 rose quarter-over-quarter to $52.1 million.

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This report focuses on Medical Cannabis volume and value at the global level, regional level and company level. From a global perspective, this report represents overall Medical Cannabis market size by analysing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan etc.

On The Basis Of Product, The Medical Cannabis Market Is Primarily Split Into

Tetrahydrocannabinol (THC)
Cannabidiol (CBD)

On The Basis Of End Users/Application, This Report Covers

Pain
Arthritis
Neurological Disease (Epilepsy, Multiple Sclerosis and Other Neurological Applications)
Others

This allows understanding of the market and benefits from any lucrative opportunities that are available. Researchers have offered a comprehensive study of the existing market scenario while concentrating on the new business objectives. There is a detailed analysis of the change in customer requirements, customer preferences, and the vendor landscape of the overall market.

Furthermore, this study will help our clients solve the following issues:

Cyclical dynamics – We foresee dynamics of industries by using core analytical and unconventional market research approaches. Our clients use insights provided by us to maneuver themselves through market uncertainties and interferences.

Identifying key cannibalizes – Strong substitute of a product or service is the most important threat. Our clients can identify key cannibalizes of a market, by procuring our research. This helps them in aligning their new product development/launch strategies in advance.

Spotting emerging trends – The report help clients to spot upcoming hot market trends. We also track possible impact and disruptions which a market would witness by a particular emerging trend. Our proactive analysis help clients to have early mover advantage.

Interrelated opportunities – This report will allow clients to make decisions based on data, thereby increasing the chances that the strategies will perform better if not best in real world.

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Following are major Table of Content of Medical Cannabis Industry:

  • Medical Cannabis Market Sales Overview.
  • Medical Cannabis Market Sales Competition by Manufacturers.
  • Medical Cannabis Market Sales Analysis by Region.
  • Medical Cannabis Market Sales Analysis by Type.
  • Medical Cannabis Market Analysis by Application.
  • Medical Cannabis Market -Manufacturers Analysis.

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– Free country Level analysis for any 5 countries of your choice.
– Free Competitive analysis of any 5 key market players.
– Free 40 analyst hours to cover any other data point.

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How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

Source: https://coleofduty.com/news/2020/06/25/covid-19-impact-assessment-on-medical-cannabis-market-facts-figures-and-analytical-insights-2020-2023/