Medical Cannabis - Greece

Greece

The revenue in the Medical Cannabis market market in Greece is forecasted to reach US$8.19m in 2024.
Revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 3.87%, leading to a market volume of US$9.90m by 2029.
When compared globally, the United States is expected to generate the most revenue (US$14,530.00m in 2024).
In terms of total population figures, per person revenues of US$3.93k are generated in 2024.
Greece's medical cannabis market is flourishing with increasing government support and a growing number of licensed producers entering the industry.

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

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Analyst Opinion

The Medical Cannabis market in Greece has been experiencing significant growth in recent years, with a surge in demand for cannabis-based products for medical use.

Customer preferences: Customers in Greece are increasingly turning to medical cannabis products as an alternative form of treatment for various health conditions. The shift towards natural and holistic remedies, coupled with growing awareness about the potential therapeutic benefits of cannabis, has contributed to the rising demand in the market.

Trends in the market: One key trend in the Greek Medical Cannabis market is the gradual acceptance and legalization of medical cannabis for specific medical conditions. The evolving regulatory landscape has paved the way for more companies to enter the market and offer a wider range of medical cannabis products to consumers. Additionally, there is a growing trend towards research and development in the field of medical cannabis, leading to the introduction of innovative products tailored to meet the diverse needs of patients.

Local special circumstances: Greece's favorable climate conditions provide an ideal environment for cultivating cannabis, making it a prime location for cannabis cultivation. The country's strategic geographical location also serves as a gateway for exporting medical cannabis products to other European countries. Moreover, the government's supportive stance towards the medical cannabis industry has created a conducive business environment for both domestic and international players looking to invest in the market.

Underlying macroeconomic factors: The growing Medical Cannabis market in Greece is also influenced by broader macroeconomic factors such as increasing healthcare expenditure, changing demographics, and shifting consumer preferences. As the healthcare sector continues to evolve, there is a rising demand for alternative treatment options like medical cannabis, driving the market forward. Additionally, the economic potential of the medical cannabis industry has attracted investments and collaborations, further fueling the market's growth trajectory.

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.