Pharmaceutical Cannabis - Greece

Greece

In Greece, revenue in the Pharmaceutical Cannabis sector is forecasted to reach US$7.05m by 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 4.94%, leading to a market volume of US$8.97m by 2029.
When compared globally, the United States is expected to generate the highest revenue (US$913.10m in 2024).
In terms of per capita figures, in 2024, each person contributes revenues of US$22.57k.
Greece's pharmaceutical cannabis market is burgeoning, attracting investments and paving the way for innovative research and development in the industry.

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Analyst Opinion

Amidst the evolving landscape of the pharmaceutical industry in Greece, the Pharmaceutical Cannabis market is experiencing significant growth and development.

Customer preferences: Customers in Greece are increasingly leaning towards natural and alternative medicinal options, leading to a growing demand for Pharmaceutical Cannabis products. This shift in preferences is in line with global trends where consumers are seeking organic and plant-based remedies for various health conditions.

Trends in the market: The Pharmaceutical Cannabis market in Greece is witnessing a surge in research and development activities focused on exploring the medical benefits of cannabis. This trend is driven by the changing regulatory environment in the country, which is becoming more favorable towards the use of cannabis for medicinal purposes. As a result, pharmaceutical companies are investing in innovative cannabis-based products to cater to the growing market demand.

Local special circumstances: Greece holds a strategic position geographically, making it an ideal hub for cannabis cultivation. The country's climate and fertile land provide optimal conditions for cultivating high-quality cannabis, attracting both domestic and international players to establish cultivation facilities in the region. This has positioned Greece as a key player in the European Pharmaceutical Cannabis market.

Underlying macroeconomic factors: The economic landscape in Greece has played a significant role in shaping the Pharmaceutical Cannabis market. The country's healthcare sector is undergoing reforms to improve access to medical treatments, including cannabis-based products. Additionally, the government's efforts to attract foreign investments in the pharmaceutical industry have created opportunities for companies looking to capitalize on the growing Pharmaceutical Cannabis market in Greece.

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.