COVID-19 Industry Impact

Illegal Selling of Marijuana Predicted To Create a Negative Impact on the Medical Marijuana Market due to COVID-19 lockdown in 2020

Due to high demand across multiple industries, the global medical marijuana market experienced exponential growth in 2019. As the Covid-19 virus is spreading, the global demand for medical marijuana is projected to decline significantly in 2020. But the market should ultimately be restored mainly due to the government initiatives for the legalization of medical marijuana. The market was estimated to grow at a steady rate of 28.7%, which has declined to 27.4% as a result of the COVID – 19 impact.

Check out How COVID-19 impact on the Global Medical Marijuana Market. Click here to Connect with Analyst @

Current Face of the Market Due to Covid-19:

According to a new report published by Research Dive, the global medical marijuana market is anticipated to generate a revenue of  $33,211.7 million by 2026, at a CAGR of 27.4% in the forecast time from 2019 to 2026. Previously, before the onset of the pandemic, the global medical marijuana market was anticipated to garner a revenue of $7,751.9 million in 2020. However, in the present situation, i.e., in 2020, the market size has reached upto $5,813.9 million.

Marijuana is used in cancers, neurology, arthritis and even more for the prevention of debilitating diseases because of various medicinal uses of marijuana, many countries around the world allow the use of marijuana that is projected to fuel the international healthcare demand for marijuana over the forecast time. More R&D investments from a number of pharmaceutical firms in order to grow the medical drug using marijuana.

Download Sample Report and know How Inhalation Segment Is Predicted to Have the Highest Market Share @

Future Scope of the Market:

With around 9397 licenses for manufacturers, farmers’ suppliers and labs in the U.S., the legal marijuana enterprise creates jobs and opportunities. Through purchasing four dispensaries, Cresco labs widened the market for medical cannabis in Ohio.

In the following years, after the COVID-19 outbreak situation, the global medical marijuana market is expected to continue to rise exponentially. The global medical marijuana market will forecast profitability by Q3/Q4 2022, owing to a dramatic downturn in 2020. A major growth on the medical marijuana market following the end of pandemic stress is projected to reflect the stepped-up focus on R&D and innovation, the huge growth of strategic alliances, and growing demands for medical marijuana is because of the benefits it provides.

About Us:
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

Contact us:
Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York
NY 10005 (P)
+ 91 (788) 802-9103 (India)
+1 (917) 444-1262 (US)
Toll Free: +1-888-961-4454
E-mail: [email protected]
Follow us: