Pharmaceutical Cannabis - Portugal

Portugal

Revenue in the Pharmaceutical Cannabis is projected to reach US$8.24m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.97%, resulting in a market volume of US$10.50m 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$21.88k are generated in 2024.

Market

Region

Region comparison

Currency

Analyst Opinion

Portugal has seen a significant growth in the Pharmaceutical Cannabis market in recent years.

Customer preferences: Customers in Portugal are increasingly turning to Pharmaceutical Cannabis products due to their perceived effectiveness in managing various health conditions. The shift towards natural and alternative remedies has been a driving factor in the growing demand for Pharmaceutical Cannabis in the country.

Trends in the market: One notable trend in the Portuguese Pharmaceutical Cannabis market is the increasing acceptance and legalization of medical cannabis. This has opened up opportunities for pharmaceutical companies to develop and market Cannabis-based products to meet the rising demand from patients and healthcare professionals. Additionally, the growing number of clinical studies supporting the therapeutic benefits of Cannabis has further fueled the market growth in Portugal.

Local special circumstances: Portugal's progressive stance on drug policy, including the decriminalization of personal drug use, has created a favorable environment for the development of the Pharmaceutical Cannabis market. The country's regulatory framework for medical cannabis is relatively advanced compared to some other European nations, providing a conducive setting for companies to operate and innovate in this sector.

Underlying macroeconomic factors: The economic landscape in Portugal, characterized by a stable GDP growth and increasing healthcare expenditure, has also played a role in the expansion of the Pharmaceutical Cannabis market. As the government continues to prioritize healthcare and invest in medical research, the pharmaceutical industry, including Cannabis-based products, is poised to benefit from these macroeconomic conditions.

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.