Medical Cannabis - Denmark

Denmark

In Denmark, revenue in the Medical Cannabis market market is forecasted to reach US$258.50k in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 1.53%, leading to a market volume of US$278.90k by 2029.
When compared globally, the United States is expected to generate the most revenue (US$14,530.00m in 2024).
In terms of per person revenues in 2024, US$32.13 are generated in relation to the total population figures.
Denmark's medical cannabis market is seeing a significant surge in investment and research, positioning the country as a key player in the global industry.

Key regions: Spain, Europe, Australia, Germany, United States

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Currency

Analyst Opinion

Denmark has seen a significant growth in the Medical Cannabis market, with various factors driving this development.

Customer preferences: Patients in Denmark are increasingly turning to Medical Cannabis as an alternative form of treatment due to its perceived effectiveness in managing various medical conditions. The shift towards more natural and holistic healthcare options has also contributed to the rising demand for Medical Cannabis in the country.

Trends in the market: One notable trend in the Danish Medical Cannabis market is the increasing number of prescriptions being issued by healthcare professionals. This indicates a growing acceptance and recognition of the potential therapeutic benefits of Medical Cannabis within the medical community. Additionally, the expanding product offerings and consumption methods available in the market are catering to a wider range of patient needs and preferences.

Local special circumstances: Denmark's progressive regulatory environment and supportive government policies have played a crucial role in fostering the growth of the Medical Cannabis market. The country's well-established healthcare system and emphasis on patient welfare have also contributed to creating a favorable landscape for the industry to thrive. Moreover, collaborations between domestic companies and international players have led to the introduction of innovative products and technologies in the market.

Underlying macroeconomic factors: The overall economic stability and high disposable income levels in Denmark have enabled patients to afford Medical Cannabis products, despite their relatively higher costs compared to traditional medications. Furthermore, the country's strong focus on research and development in the healthcare sector has encouraged advancements in Medical Cannabis treatments, driving further market expansion.

Methodology

Data coverage:

Data encompasses B2B and B2C enterprises. Figures are based on companies' revenues, funding values and global consumer survey data. Revenues include retail, sales and taxes.

Modeling approach / Market size:

Market sizes are determined by a Top-Down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use financial reports, third-party data. Next, we use relevant key market indicators and data from country-specific associations such as tobacco spending per capita, medical product spending per capita, consumer spending and consumer spending for recreation purposes, population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, S-Curve function, ARIMA time series model and exponential curve function.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. GCS data is reweighted for representativeness.