Missouri Medical Cannabis Industry Status and Trend Report by 2026
The Missouri Medical Cannabis Market size is estimated
to be valued at USD 102.4 million in 2026 and is predicted to register a
lucrative CAGR of 22.0% over the forecast period, according to a new study by
Grand View Research, Inc. Legalization of marijuana for medical applications
and growing number of patients qualifying for the same is expected to boost the
market in Missouri.
Based on product type, the market is divided
into buds, oil, and tinctures. The buds segment is anticipated to hold the
largest market share in 2020 with a revenue of USD 20.6 million. Buds being the
primary plant product, can be used readily without any processing, which makes
it relatively affordable for low-income patients. Moreover, easy availability
of buds as compared to other cannabis products is further anticipated to
increase their adoption in the state.
Based on application, the chronic pain
segment is expected to dominate the Missouri market in 2020 owing to a large
patient pool. On the other hand, the mental disorder application is expected to
witness fastest growth over the forecast period owing to increasing number of
patients suffering from neurological conditions such as anxiety disorder,
depression, and Alzheimer’s disease. For instance, according to the Missouri
Foundation for Health, around 110,000 people over 65 years and above were
suffering from Alzheimer’s disease in 2010 and the number is expected to
increase to 130,000 by the end of 2025.
To Request A Sample Copy @ https://www.grandviewresearch.com/industry-analysis/missouri-medical-cannabis-market/request/rs1
Further key findings from the report suggest:
- Buds are anticipated to dominate the Missouri medical
cannabis market in 2020, as they can be readily used by patients for
smoking. This helps alleviate chronic pain associated with various
ailments
- The oil segment is anticipated to witness the fastest
growth by 2026 owing to increasing adoption of oil as a healthier
alternative to smoking marijuana
- The chronic pain application segment is anticipated to remain
the dominant throughout the forecast period thanks to increasing patient
pool
Grand View Research has segmented the
Missouri medical cannabis market based on product type and medical application:
Missouri Medical Cannabis Product Type
Outlook (Revenue, USD Million, 2020 - 2026)
- Buds
- Oils
- Tinctures
Missouri Medical Cannabis Medical Application
Outlook (Revenue, USD Million, 2020 - 2026)
- Chronic Pain
- Mental Disorders
- Cancer
- Others
About
Grand View Research:
Grand View Research is an India & U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. Grand
View Research database is used by the world's renowned academic institutions
and Fortune 500 compnies to understand the global and regional business
environment. Our database features thousands of statistics and in-depth
analysis on 46 industries in 25 major countries worldwide.
Contact:
Grand View Research, Inc.
201 Spear Street 1100,
San Francisco, CA 94105
United States
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Comments
Post a Comment