Thailand Medical Cannabis Market Report 2021: A $26.3 Million Market in 2020
Dublin – The Thailand medical cannabis market reached a value of US$ 26.3 Million in 2020. Looking forward, the market to grow at a CAGR of around 32% during 2021-2026.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Cannabis, also known as marijuana, comes from the hemp plants such as cannabis sativa and cannabis indica. THC (tetrahydrocannabinol) is the main psychoactive part of cannabis and is used for medicinal purposes in several countries across the globe. Similar to several other countries, cannabis was extensively used as a traditional medicine in Thailand. It was also used for several medical purposes like muscle relaxer, to ease women’s labor pains and as a condiment in cooking.
However, the sale and possession of marijuana was banned and criminalized in 1935 by the Cannabis Act and was further criminalized by the Narcotics Act of 1979. Despite this, the marijuana culture in Thailand has softened over last few decades, though not completely. Recently, Thailand government has legalized cannabis for medical purposes. There are several factors that will drive the demand for cannabis in Thailand.
Thailand possesses geographical advantage over the production of cannabis because of its annual tropical climate resulting in lower production costs as less artificial light needed and temperature control are required for the cultivation of cannabis.
Moreover, Thailand has historically had a strong tradition of using cannabis for medical purposes which is also expected to create a positive impact on its demand. Some of the other major factors that will drive the market include foreign investments, ageing population, increasing number of clinical trials and R&D investments, etc.
Key Questions Answered in This Report:
- How has the Thailand medical cannabis industry performed so far and how will it perform in the coming years?
- What are the popular species in the Thailand medical cannabis industry?
- What has been the impact of COVID-19 on the Thailand medical cannabis industry?
- What are the key derivatives in the Thailand medical cannabis industry?
- What are the various applications of medical cannabis?
- Who are the major end-users for medical cannabis?
- What are the major routes of administration in the Thailand medical cannabis industry?
- What are the various stages in the value chain of the medical cannabis industry?
- What are the cultivation and harvesting requirements for cannabis?
- What are the processing requirements for cannabis?
- What are the key driving factors and challenges in the Thailand medical cannabis market?
- What is the structure of the Thailand medical cannabis industry and who are the key players?
- What is the degree of competition in the Thailand medical cannabis market?
Thailand Medical Cannabis Market Segmentation:
Market Breakup by Cultivated Species:
Market Breakup by Derivatives:
- Cannabidiol (CBD)
- Tetrahydrocannabinol (THC)
Market Breakup by Application:
Market Breakup by End-Use:
- Research and Development Centres
Market Breakup by Route of Administration:
- Oral Solutions and Capsules
(This information is primarily sourced from Researchandmarket.com. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).
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