Pharmaceutical Cannabis - Paraguay

Paraguay

Paraguay is expected to see a revenue of US$1.21m in the Pharmaceutical Cannabis sector by 2024.
This revenue is projected to grow annually at a rate of 4.39% between 2024 and 2029, reaching a market volume of US$1.50m by the end of 2029.
When compared globally, the United States is anticipated to generate the highest revenue in 2024, amounting to US$913.10m.
In terms of per capita figures, in 2024, each person in Paraguay is expected to generate revenues of US$3.78k.
Paraguay's pharmaceutical cannabis market is rapidly expanding, attracting international investors due to favorable regulations and growing demand for medical cannabis products.

Key regions: United States, Spain, Europe, Thailand, Canada

Market

Region

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Currency

Analyst Opinion

Paraguay has seen a significant growth in the Pharmaceutical Cannabis market in recent years, mirroring the global trend towards the acceptance and legalization of medical cannabis.

Customer preferences: Customers in Paraguay are increasingly turning to Pharmaceutical Cannabis products due to growing awareness about their potential health benefits and therapeutic properties. The shift towards natural and alternative medicine has also influenced consumer preferences, driving the demand for Pharmaceutical Cannabis products in the country.

Trends in the market: One of the notable trends in the Pharmaceutical Cannabis market in Paraguay is the increasing number of pharmaceutical companies and dispensaries entering the market to meet the rising demand for medical cannabis products. This trend is also supported by the government's efforts to regulate and legalize the use of Pharmaceutical Cannabis for medical purposes, creating a more conducive environment for market growth.

Local special circumstances: Paraguay's unique regulatory framework and relatively lower production costs compared to other countries have positioned it as an attractive market for Pharmaceutical Cannabis cultivation and distribution. The country's agroclimatic conditions also favor the cultivation of cannabis, making it a cost-effective option for pharmaceutical companies looking to establish a presence in the market.

Underlying macroeconomic factors: The growing Pharmaceutical Cannabis market in Paraguay is also influenced by broader macroeconomic factors such as increasing healthcare expenditure, changing regulatory landscape, and shifting attitudes towards cannabis use for medical purposes. These factors have created a favorable market environment for the growth and development of the Pharmaceutical Cannabis industry in the country.

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.