Medical Cannabis - Finland

Finland

Finland is a country where the Medical Cannabis market market is projected to reach US$4,200.00k in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 5.77%, leading to a market volume of US$5,559.00k 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$1,392.00 are generated concerning the total population figures.
Finland's medical cannabis market shows a growing trend towards research and development, fostering innovation and medical advancements.

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

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Analyst Opinion

The Medical Cannabis market in Finland has been experiencing significant growth in recent years.

Customer preferences: Customers in Finland are increasingly turning to medical cannabis as an alternative form of treatment due to its perceived effectiveness in managing certain medical conditions. There is a growing awareness and acceptance of the potential benefits of medical cannabis among the population, driving demand for such products.

Trends in the market: One notable trend in the Finnish Medical Cannabis market is the increasing number of medical professionals who are prescribing cannabis-based products to patients. This trend is fueled by a growing body of research supporting the efficacy of medical cannabis in treating various ailments. Additionally, there is a rise in the availability of different forms of medical cannabis products in the market to cater to different patient needs and preferences.

Local special circumstances: Finland has a relatively conservative approach to cannabis use, with strict regulations in place governing the production, distribution, and use of medical cannabis. However, there has been a gradual shift towards more lenient policies regarding medical cannabis as its therapeutic benefits become more widely recognized. This changing regulatory landscape is creating opportunities for growth in the medical cannabis market in Finland.

Underlying macroeconomic factors: The growing acceptance and legalization of medical cannabis worldwide have had a ripple effect on the Finnish market. As more countries legalize medical cannabis and research supports its medical benefits, Finland is also witnessing a shift in attitudes towards cannabis use. This global trend is influencing the development of the medical cannabis market in Finland, driving innovation and investment in the sector.

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.