The cannabis pharmaceutical sector

The cannabis pharmaceutical sector is another area with immense potential in the industry, and many governments around the world still only allow the sale of cannabis-based medicinal products within their jurisdictions. According to an industry market analysis report by Research and Markets, “the global cannabis pharmaceuticals market size was estimated at US$5.2 billion in 2024 and is projected to reach US$72.7 billion by 2030, growing at a compound annual growth rate (CAGR) of 55.1% from 2024 to 2030.” A common regulatory requirement in the global legal cannabis market is that cannabis products must undergo testing for contaminants and cannabinoid content. Cannabis testing requirements are likely to become a significant component of future legal cannabis trade. Economic researchers at Future Market Insights predict that “the global automated cannabis testing market will experience significant expansion, with industry experts forecasting a compound annual growth rate (CAGR) of approximately 11% to 13% from 2022 to 2032.” The report states that the expansion of cannabis cultivation and product innovation (including edibles, oils, tinctures, and infused beverages) further fuels market growth. Furthermore, investment in cannabis research has led to the development of new therapies for chronic pain, epilepsy, anxiety, and neurological disorders. Technological integration in cannabis cultivation and distribution, such as AI-driven crop monitoring and blockchain-enabled supply chain tracking, enhances operational efficiency. With evolving regulatory frameworks and increasing consumer acceptance, the legal cannabis industry is poised for continued expansion. Emerging Trends in the Legal Cannabis Industry

For more details,Welcome to contact WhatsApp:+8619042998714