IRELAND: The global legal marijuana market was 15.09 billion USD in 2017 and will reach 66.65 billion USD by 2023 with a CAGR of 28.09% during the period, according to a new market research report, “Global Legal Marijuana Market – by Type, Application, Region – Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2017-2023)” published by ResearchAndMarkets.com.
Report highlights, include:
- The application of marijuana for treatment of various chronic diseases is driving the growth of the market. The legalization of marijuana in developed countries is expected to support the growth of the market. The rising social acceptance of marijuana is also driving the market.
- On the other hand, the adverse effects of marijuana on human health is restraining the growth of the market
- North America is expected to account for largest share in coming years owing to legalization of marijuana and increase in use of marijuana in pharmaceutical sector. Asia-Pacific is projected to grow with higher CAGR during the period due to increasing government expenditure on healthcare sector.