Pharmaceutical Cannabis - Germany

Germany

Revenue in the Pharmaceutical Cannabis is projected to reach US$125.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.78%, resulting in a market volume of US$158.60m by 2029.
In global comparison, most revenue will be generated in the United States (US$913.10m in 2024).
In relation to total population figures, per person revenues of US$2.53k are generated in 2024.

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Analyst Opinion

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

Customer preferences: Customers in Germany are increasingly turning to pharmaceutical cannabis products due to the growing acceptance of medical cannabis as a treatment option. Patients are seeking alternative and natural remedies for various medical conditions, driving the demand for pharmaceutical cannabis products.

Trends in the market: One of the key trends in the Pharmaceutical Cannabis market in Germany is the increasing number of pharmaceutical companies entering the market and obtaining licenses to produce and distribute medical cannabis products. This trend is fueled by the changing regulatory landscape and the legalization of medical cannabis in the country.

Local special circumstances: Germany has a well-established healthcare system with a strong emphasis on research and development. This has created a conducive environment for pharmaceutical companies to conduct clinical trials and research on the medical benefits of cannabis. Additionally, the country's large population and high prevalence of certain medical conditions have contributed to the growing demand for pharmaceutical cannabis products.

Underlying macroeconomic factors: The Pharmaceutical Cannabis market in Germany is also influenced by macroeconomic factors such as government regulations, healthcare policies, and insurance coverage. The government's support for medical cannabis research and legalization has played a significant role in shaping the market dynamics. Furthermore, the increasing awareness and acceptance of medical cannabis among healthcare professionals and patients have contributed to the market growth.

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.