Pharmaceutical Cannabis - Finland

Finland

Finland's revenue in the Pharmaceutical Cannabis sector is forecasted to reach US$8.06m by 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 4.70%, leading to a market volume of US$10.14m by 2029.
When compared globally, the United States is expected to generate the highest revenue (US$913.10m in 2024).
In terms of per person revenues in 2024, US$17.80k are generated concerning the total population figures.
Finland sees a growing interest in Pharmaceutical Cannabis research and development within its evolving Cannabis market landscape.

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Analyst Opinion

The Pharmaceutical Cannabis market in Finland has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Finland are increasingly turning to Pharmaceutical Cannabis products due to the growing awareness of their potential health benefits and therapeutic properties. The shift towards natural and alternative remedies is driving the demand for Pharmaceutical Cannabis products in the country.

Trends in the market: One of the key trends in the Pharmaceutical Cannabis market in Finland is the expanding product offerings and availability. With more companies entering the market and introducing new Pharmaceutical Cannabis products, consumers have a wider range of options to choose from. Additionally, there is a growing trend towards personalized medicine, with Pharmaceutical Cannabis products being tailored to individual needs and preferences.

Local special circumstances: Finland has a well-established healthcare system and a high level of healthcare standards, which has contributed to the increasing acceptance and integration of Pharmaceutical Cannabis products into the mainstream healthcare practices. The country's progressive approach towards medical cannabis and the legalization of its use for certain medical conditions have created a conducive environment for the growth of the Pharmaceutical Cannabis market.

Underlying macroeconomic factors: The growing acceptance and legalization of Pharmaceutical Cannabis products in Finland are also influenced by broader macroeconomic factors such as changing regulatory landscapes and evolving consumer attitudes towards healthcare. As the market continues to mature and expand, it is expected to attract more investments and innovations, further driving the growth of the Pharmaceutical Cannabis market in Finland.

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.