Regulatory Advances Propel Global Medical Cannabis Market Growth

LOS ANGELES- The global medical cannabis market is experiencing significant growth, driven by regulatory reforms and increased acceptance of cannabis-based therapies. According to the “Medical Marijuana – Global Strategic Business Report 2025,” the market was valued at approximately $41.3 billion in 2024 and is projected to reach $92.4 billion by 2030, reflecting a compound annual growth rate (CAGR) of 14.4% .

This expansion is attributed to several factors, including the easing of regulations in key markets. In the United States, the Department of Justice has initiated proceedings to reclassify cannabis from a Schedule I to a Schedule III controlled substance, potentially reducing federal restrictions and facilitating broader medical use . China’s market is also expected to grow at a CAGR of 13.6%, reaching $14.1 billion by 2030 .

State-level legislative changes further contribute to market growth. For instance, Texas lawmakers are considering expanding the state’s Compassionate Use Program to include more qualifying conditions and authorized suppliers, aiming to improve patient access to medical cannabis .

The market’s growth is also supported by increasing demand for alternative therapies and the integration of cannabis into mainstream healthcare. Analysts project that the medical cannabis market will continue to expand, reaching $89.02 billion by 2029, with a CAGR of 22.3% .

As regulatory landscapes evolve and acceptance of medical cannabis grows, the industry is poised for sustained growth, offering new opportunities for stakeholders across the healthcare and pharmaceutical sectors.