[email protected] +44 20 8123 2220 (UK) +1 732 587 5005 (US) Contact Us | FAQ |

Australia Medical Cannabis Market Size, Share & Trends Analysis Report By Application (Cancer, AIDS), By Sources (Hemp, Marijuana), By Derivatives (CBD, THC), And Segment Forecasts, 2024 - 2030

June 2024 | 100 pages | ID: AF0BFE82319DEN
Grand View Research, Inc.

US$ 5,950.00

E-mail Delivery (PDF)

Download PDF Leaflet

Accepted cards
Wire Transfer
Checkout Later
Need Help? Ask a Question
This report can be delivered to the clients within Immediate

Australia Medical Cannabis Market Growth & Trends

The Australia medical cannabis market size is anticipated to reach USD 860.74 million by 2030 and is growing at a CAGR of 33.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth is driven by rising public awareness of the health advantages associated with cannabis consumption. The expanding legalization of marijuana, especially for medical purposes, is expected to significantly contribute to the market growth in Australia. For instance, in October 2023, the Australian Capital Territory (ACT) introduced certain regulations on the use of cannabis. It stated that individuals aged over 18 can own fresh cannabis up to 150 grams or dried cannabis up to 50 grams. Moreover, several factors, such as the growing legalization of cannabis, expanding patient pool, increasing government initiatives, and the active participation of both domestic & international players in the country, are fueling market growth.

The easing of regulatory restrictions on medical cannabis has created a more favorable environment for the expansion of the market. Regulatory agencies, such as the Therapeutic Goods Administration (TGA), have simplified the approval procedures for medicinal cannabis products, enhancing patient access to these treatments. According to the Australian Journal of General Practice, as of 2021, over 130,000 medicinal cannabis approvals have been granted in Australia, with the majority being issued by general practitioners. Notably, around 65% of these approvals were for the treatment of chronic non-cancer pain. Furthermore, the authorization of medical cannabis use in various Australian states has significantly improved market conditions, facilitating greater production, distribution, and usage of medicinal cannabis products.

Moreover, the presence of a diverse range of industry stakeholders, including both domestic and international players, has contributed to the dynamism of the market. Established pharmaceutical companies, cannabis cultivators, research institutions, and startups are actively investing in the sector, driving innovation and market competition. This competitive landscape not only fosters product development and innovation but also helps to drive down prices, making medical cannabis more accessible to patients across Australia. For instance, in January 2024, Cronos Group Inc. announced its entry into the Australia market by commencing the delivery of cannabis flowers to Vitura Health Limited. Due to around 10% of Vitura’s common shares, formerly known as Cronos Australia, Cronos would be the cannabis supplier for Vitura. As a result, the market is experiencing sustained growth, with promising prospects for the future.

Australia Medical Cannabis Market Report Highlights
  • Hemp dominated the source segment of the market in 2023 due to rising incidences of conditions such as epilepsy and various sleep disorders, alongside increased consumption of hemp-derived products, including hemp CBD and supplements, renowned for their numerous health benefits, are further driving the market
  • The chronic pain segment held the largest share, driven by the increasing demand for alternative treatments. Medical cannabis products, particularly THC-rich products, are being recognized as a potential solution for managing chronic pain
  • CBD dominated the derivatives segment with a share in 2023. The growth in this market is linked to the legalization of low-dose CBD products by the Therapeutic Goods Administration (TGA). Despite this legalization, these products are still pending approval by the Australian Register of Therapeutic Goods (ARTG)
  • Key players operating in the market are focusing on technologically advanced devices that offer users comfort. New product development and strategic alliances, including partnership agreements, promotional activities, and acquisitions, keep market rivalry high
CHAPTER 1. METHODOLOGY AND SCOPE

1.1. Market Segmentation and Scope
1.2. Segment Definitions
  1.2.1. Sources
  1.2.2. Application
  1.2.3. Derivatives
  1.2.4. Estimates and forecasts timeline
1.3. Research Methodology
1.4. Information Procurement
  1.4.1. Purchased database
  1.4.2. GVR’s internal database
  1.4.3. Secondary sources
  1.4.4. Primary research
  1.4.5. Details of primary research
1.5. Information or Data Analysis
  1.5.1. Data analysis models
1.6. Market Formulation & Validation
1.7. Model Details
  1.7.1. Commodity flow analysis (Model 1)
  1.7.2. Approach 1: Commodity flow approach
  1.7.3. Volume price analysis (Model 2)
  1.7.4. Approach 2: Volume price analysis
1.8. List of Secondary Sources
1.9. List of Primary Sources
1.10. Objectives

CHAPTER 2. EXECUTIVE SUMMARY

2.1. Market Outlook
2.2. Segment Outlook
  2.2.1. Sources outlook
  2.2.2. Derivatives outlook
  2.2.3. Application outlook
2.3. Competitive Insights

CHAPTER 3. AUSTRALIA MEDICAL CANNABIS MARKET VARIABLES, TRENDS & SCOPE

3.1. Market Lineage Outlook
  3.1.1. Parent Market Outlook
  3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
  3.2.1. Market Driver Analysis
    3.2.1.1. Rising Patient Population Adopting Cannabis Products
    3.2.1.2. Increasing Preference for Cannabis Oils and Tinctures
    3.2.1.3. Consumer Shift and Market Education for Cannabis In Australia
    3.2.1.4. Entry Of International Players
    3.2.1.5. Growing Legalization of Cannabis-Based CBD Products
  3.2.2. Market Restraint Analysis
    3.2.2.1. Stringent Regulations
    3.2.2.2. Illicit Cannabis Trade
    3.2.2.3. Incomplete Evidence Regarding the Effectiveness Of Medical Marijuana
3.3. Regulatory Scenario
3.4. Australia Medical Cannabis Market Analysis Tools
  3.4.1. Industry Analysis - Porter’s
  3.4.2. Bargaining power of suppliers
  3.4.3. Bargaining power of buyers
  3.4.4. Threat of substitutes
  3.4.5. Threat of new entrants
  3.4.6. Competitive rivalry
3.5. PESTEL Analysis
  3.5.1. Political landscape
  3.5.2. Economic landscape
  3.5.3. Social landscape
  3.5.4. Technological landscape
  3.5.5. Environmental landscape
  3.5.6. Legal landscape
3.6. Impact of COVID-19 Pandemic on Australia Medical Cannabis Market
3.7. Opportunity Analysis
3.8. Australia Medical Cannabis User Pool
3.9. Number of Medical Cannabis Prescriptions (2023)

CHAPTER 4. AUSTRALIA MEDICAL CANNABIS MARKET: SOURCES ESTIMATES & TREND ANALYSIS

4.1. Segment Dashboard
4.2. Australia Medical Cannabis Market: Sources Movement Analysis
4.3. Australia Medical Cannabis Market by Sources Outlook (USD Million)
4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
4.5. Hemp
  4.5.1. Hemp Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
  4.5.2. Hemp CBD Oil
    4.5.2.1. Hemp CBD Oil Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
  4.5.3. Industrial Hemp
    4.5.3.1. Industrial Hemp Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
4.6. Marijuana
  4.6.1. Marijuana Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
  4.6.2. Flower
    4.6.2.1. Flower Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
  4.6.3. Oil and Tinctures
    4.6.3.1. Oil and Tinctures Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

CHAPTER 5. AUSTRALIA MEDICAL CANNABIS MARKET: APPLICATION ESTIMATES & TREND ANALYSIS

5.1. Segment Dashboard
5.2. Australia Medical Cannabis Market: Application Movement Analysis
5.3. Australia Medical Cannabis Market by Application Outlook (USD Million)
5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
5.5. Cancer
  5.5.1. Cancer Market estimates and forecast 2018 - 2030 (USD Million)
5.6. Chronic Pain
  5.6.1. Chronic Pain Market estimates and forecast 2018 - 2030 (USD Million)
5.7. Anxiety and Depression
  5.7.1. Anxiety and Depression Market estimates and forecast 2018 - 2030 (USD Million)
5.8. Arthritis
  5.8.1. Arthritis Market estimates and forecast 2018 - 2030 (USD Million)
5.9. Diabetes
  5.9.1. Diabetes Market estimates and forecast 2018 - 2030 (USD Million)
5.10. Glaucoma
  5.10.1. Glaucoma Market estimates and forecast 2018 - 2030 (USD Million)
5.11. Migraines
  5.11.1. Migraines Market estimates and forecast 2018 - 2030 (USD Million)
5.12. Epilepsy
  5.12.1. Epilepsy Market estimates and forecast 2018 - 2030 (USD Million)
5.13. Multiple Sclerosis
  5.13.1. Multiple Sclerosis Market estimates and forecast 2018 - 2030 (USD Million)
5.14. AIDS
  5.14.1. AIDS Market estimates and forecast 2018 - 2030 (USD Million)
5.15. Amyotrophic Lateral Sclerosis
  5.15.1. Amyotrophic Lateral Sclerosis Market estimates and forecast 2018 - 2030 (USD Million)
5.16. Alzheimer’s Disease
  5.16.1. Alzheimer’s Disease Market estimates and forecast 2018 - 2030 (USD Million)
5.17. Post-traumatic Stress Disorder (PTSD)
  5.17.1. Post-traumatic Stress Disorder (PTSD) Market estimates and forecast 2018 - 2030 (USD Million)
5.18. Parkinson's Disease
  5.18.1. Parkinson's Disease Market estimates and forecast 2018 - 2030 (USD Million)
5.19. Tourette’s Syndrome
  5.19.1. Tourette’s Syndrome Market estimates and forecast 2018 - 2030 (USD Million)
5.20. Others
  5.20.1. Others Market estimates and forecast 2018 - 2030 (USD Million)

CHAPTER 6. AUSTRALIA MEDICAL CANNABIS MARKET: DERIVATIVES ESTIMATES & TREND ANALYSIS

6.1. Segment Dashboard
6.2. Australia Medical Cannabis Market: Derivatives Movement Analysis
6.3. Australia Medical Cannabis Market by Derivatives Outlook (USD Million)
6.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
6.5. CBD
  6.5.1. CBD Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6. THC
  6.6.1. THC Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.7. Others
  6.7.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

CHAPTER 7. COMPETITIVE LANDSCAPE

7.1. Market Participant Categorization
7.2. Key Company Profiles
  7.2.1. Cann Group Limited
    7.2.1.1. Company overview
    7.2.1.2. Financial performance
    7.2.1.3. Product benchmarking
    7.2.1.4. Strategic initiatives
  7.2.2. Zelira Therapeutics
    7.2.2.1. Company overview
    7.2.2.2. Financial performance
    7.2.2.3. Product benchmarking
    7.2.2.4. Strategic initiatives
  7.2.3. AusCann Group Holdings Ltd.
    7.2.3.1. Company overview
    7.2.3.2. Financial performance
    7.2.3.3. Product benchmarking
    7.2.3.4. Strategic initiatives
  7.2.4. Bod Australia
    7.2.4.1. Company overview
    7.2.4.2. Financial performance
    7.2.4.3. Product benchmarking
    7.2.4.4. Strategic initiatives
  7.2.5. Althea Group
    7.2.5.1. Company overview
    7.2.5.2. Financial performance
    7.2.5.3. Product benchmarking
    7.2.5.4. Strategic initiatives
  7.2.6. ECOFIBRE
    7.2.6.1. Company overview
    7.2.6.2. Financial performance
    7.2.6.3. Product benchmarking
    7.2.6.4. Strategic initiatives
  7.2.7. Botanix Pharmaceuticals
    7.2.7.1. Company overview
    7.2.7.2. Financial performance
    7.2.7.3. Product benchmarking
    7.2.7.4. Strategic initiatives
  7.2.8. EPSILON
    7.2.8.1. Company overview
    7.2.8.2. Financial performance
    7.2.8.3. Product benchmarking
    7.2.8.4. Strategic initiatives
  7.2.9. Little Green Pharma
    7.2.9.1. Company overview
    7.2.9.2. Financial performance
    7.2.9.3. Product benchmarking
    7.2.9.4. Strategic initiatives
  7.2.10. Incannex
    7.2.10.1. Company overview
    7.2.10.2. Financial performance
    7.2.10.3. Product benchmarking
    7.2.10.4. Strategic initiatives
  7.2.11. Bod Australia
    7.2.11.1. Company overview
    7.2.11.2. Financial performance
    7.2.11.3. Product benchmarking
    7.2.11.4. Strategic initiatives
  7.2.12. Cann Group Limited
    7.2.12.1. Company overview
    7.2.12.2. Financial performance
    7.2.12.3. Product benchmarking
    7.2.12.4. Strategic initiatives
  7.2.13. ECOFIBRE
    7.2.13.1. Company overview
    7.2.13.2. Financial performance
    7.2.13.3. Product benchmarking
    7.2.13.4. Strategic initiatives?
LIST OF TABLES


Table 1 List of Secondary Sources
Table 2 List of Abbreviations
Table 3 Australia medical cannabis market, by sources, 2018 - 2030 (USD Million)
Table 4 Australia medical cannabis market, by derivatives, 2018 - 2030 (USD Million)
Table 5 Australia medical cannabis market, by application, 2018 - 2030 (USD Million)
LIST OF FIGURES


Fig. 1 Information Procurement
Fig. 2 Primary Research Pattern
Fig. 3 Market Research Approaches
Fig. 4 Value Chain-Based Sizing & Forecasting
Fig. 5 Market Formulation & Validation
Fig. 6 Australia Medical Cannabis Market Segmentation
Fig. 7 Market driver analysis (Current & future impact)
Fig. 8 Market restraint analysis (Current & future impact)
Fig. 9 SWOT Analysis, By Factor (Political & Legal, Economic and Technological)
Fig. 10 Porter’s Five Forces Analysis
Fig. 11 Australia medical cannabis market: Sources movement analysis
Fig. 12 Australia medical cannabis market: Sources outlook and key takeaways
Fig. 13 Hemp market estimates and forecast, 2018 - 2030
Fig. 14 Hemp CBD oil market estimates and forecast, 2018 - 2030
Fig. 15 Industrial hemp market estimates and forecast, 2018 - 2030
Fig. 16 Marijuana market estimates and forecast, 2018 - 2030
Fig. 17 Flower market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 18 Oil & tinctures market estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 19 Australia medical cannabis market: Derivatives movement analysis
Fig. 20 Australia medical cannabis market: Derivatives outlook and key takeaways
Fig. 21 CBD market estimates and forecast, 2018 - 2030
Fig. 22 THC market estimates and forecast, 2018 - 2030
Fig. 23 Others market estimates and forecast, 2018 - 2030
Fig. 24 Australia medical cannabis market: Application movement analysis
Fig. 25 Australia medical cannabis market: Application outlook and key takeaways
Fig. 26 Cancer market estimates and forecast, 2018 - 2030
Fig. 27 Chronic pain market estimates and forecast, 2018 - 2030
Fig. 28 Anxiety and depression market estimates and forecast, 2018 - 2030
Fig. 29 Arthritis market estimates and forecast, 2018 - 2030
Fig. 30 Diabetes market estimates and forecast, 2018 - 2030
Fig. 31 Glaucoma market estimates and forecast, 2018 - 2030
Fig. 32 Migraines market estimates and forecast, 2018 - 2030
Fig. 33 Epilepsy market estimates and forecast, 2018 - 2030
Fig. 34 Multiple sclerosis market estimates and forecast, 2018 - 2030
Fig. 35 AIDS market estimates and forecast, 2018 - 2030
Fig. 36 Amyotrophic lateral sclerosis market estimates and forecast, 2018 - 2030
Fig. 37 Alzheimer’s disease market estimates and forecast, 2018 - 2030
Fig. 38 Post-traumatic stress disorder (PTSD) market estimates and forecast, 2018 - 2030
Fig. 39 Parkinson's disease market estimates and forecast, 2018 - 2030
Fig. 40 Tourette’s syndrome market estimates and forecast, 2018 - 2030
Fig. 41 Others market estimates and forecast, 2018 - 2030
Fig. 42 Market share of key market players- Australia medical cannabis market


More Publications