Cannabis Market expected to reach $107.67 billion by 2025
Cannabis Market Report and Patent Landscape Analysis – 2025 by Applications (Medicinal and Recreational), by Product Types ( Dried Flowers – , Concentrates and other infused products like edibles, topical, beverages), by Regional Segmentation (North America, South America, Europe, the Rest of World (RoW)), by Patent Activities (Leading Patent Players, Technical Analysis Of Patent Landscape, Patent Licensing, Academic and Corporate Collaborations), Global Forecast – 2025. The global markets for Cannabis were estimated at $14.5 billion in 2018. It is expected to reach $107.67 billion by 2025 growing at a CAGR of 33.17 percent.
The Cannabis Market Report by AheadIntel focuses on the legal cannabis including its technology, market research and patent landscape and also analyze the current market dynamics and prospective future developments to present an accurate business and patent landscape for Cannabis technology.
Patent Landscape Analysis of cannabis technology presents Patent trends in detail to understand the research and development activities happening around the world over the years, competitive landscape focusing on active players in the industry, growth strategies, strategic imperatives and detailed profiling of critical companies.
Increasing public and private investment for research
Large investment in R&D of safer forms of consumption of marijuana is expected to drive the overall global cannabis market. In the fourth quarter of 2018, $7.9 billion capital was raised globally by the cannabis companies. MJardin Group, Inc, a leader in cannabis management, recently announced its first cannabis research investment to fund studies on the benefits of cannabinoids in treatment of epilepsy and schizophrenia. Canopy Growth received a huge investment of $4 billion from alcoholic beverage giant, Constellation Brands in August 2018 increasing its stake in the company to 38 percent.
Pharmaceutical companies are making rapid investments in the cannabis space
UK-based GW Pharmaceuticals is developing cannabis-based drugs such as Sativex, for treatment of multiple sclerosis, and USFDA approved Epidolex. Johnson and Johnson even though not upfront investing in marijuana, has recently collaborated with two Canadian marijuana firms, Avicanna and Vapium Medical, to give access to its Canadian JLABS Innovation network, hinting at possible investment in the future.
The cannabis landscape is also garnering significant interest from technology firms like HP and Microsoft. Cannabis ancillary companies like Kind Financial and Flowhub dealing with sales tracking and point of sale software have partnered with the tech giants for designing newer software for tracking purposes.
Investors are shifting focus from Canada to legal US states
Lately investment interest has mostly been moving away from the Canadian industry towards legal US states. The legalization of medical as well as recreational Cannabis in more US states is expected in the coming years which will offer a huge market size for the investors to shift their focus. Although the initial sales may be at an average level, the market is expected to gain significantly over the forecasted period as the demand evolves and the products gain mainstream acceptance. Industry experts are of the opinion that if it was legalized nationally, it would overtake the total revenue generated from the sales of ice creams. At present, three in five US citizens live in the areas where medical Cannabis is legal, and one in five US citizen lives in the areas where recreational Cannabis is legal.
Cannabis Market overview by region
The North American market lead the industry in 2018 with $13.3 billion followed by Europe at $600 million and South America closely behind at $530 million. The RoW market contribution was valued at a humble $240 million. With a seven-year CAGR of 26.92 percent, the North America market is predicted to continue dominating the global markets and reach a value of $69.68 billion by 2025.
Cannabis Market Top leading Players
Companies involved in production and trade of cannabis and cannabis-based products are focusing on standardizing their products, as well as getting intellectual property rights for their products. Genetic advances in cannabis research is also expected to change the dynamics of the current cannabis market. Following are the key companies analyzed in the report are:
- Aurora Cannabis Canopy Growth Corp.
- Medmen Enterprises,
- Tilary, Aphria, AbbVie
- GW Pharmaceuticals
- AusCann Group
- Scotts-Miracle Gro .
- Cronos Group
- Hexo Corporation
- The Green Organic Dutchman
- Cann Group
- Canopy Rivers.
R&D Interest in Cannabis technology has significantly up-surged since 2012 Research community’s interest in Cannabis technology has significantly up surged since 2012, concurrently with the two principal research groups publishing their revolutions in the scientific literature. The market interest is growing exponentially with Cannabis patenting activity registering a CAGR of 21.8 percent over a six-year period from 2010 to 2016. Publications are claiming priority from 2014 to 2017 account for approximately 45 percent of the publications, hinting at several upcoming grants in the near future.
Medical Cannabis segment is the leading focus area of R&D with 7634 patent applications, whereas the recreational segment holds 735 patents
The USA is the priority region after China for approximately 33 percent of patent filings. Region wise, APAC and RoW is ahead of North America in innovation activities with 55 percent of the fillings. More than 80 percent of priority filings in APAC are from China. Japan has emerged as a key potential market for Cannabis with 1791 subsequent patent applications closely followed by Canada with 1434 applications. Korea, India, and Mexico are also well represented indicating a potential market.
AbbVie Inc holds the largest patent portfolio in Cannabis with 216 IP assets
Other companies leading the Cannabis patent portfolio include GW Pharmaceuticals, Pfizer, and Merck & Co. Tariq Ghayur from AbbVie and Geoffrey guy, founder of GW Pharmaceuticals have the maximum number of patent families in the Cannabis landscape, followed by Ke Zheng and Tianrui Chen. Other researchers such as Venkat Goskonda and Mingda Luo are also active in Cannabis research activities.
The most researched product type is marijuana-infused products with 5659 patents
The most researched product type is marijuana-infused products with 5659 patents filed in this segment followed by flowers with 4919 patents about this product type. The other marijuana infused products can be further classified as beverages, capsules/tablets, edibles, inhalations, injectables, and ointments.
About Ahead Intelligence (AheadIntel)
Ahead Intelligence (AheadIntel) is a technology and patent research company providing premium, comprehensive technology research on different topics. We combine IP intelligence with business and market insights to give you the complete picture around a technology space. All our reports come with interactive dashboards that give you access to the patent data and allow you to dig deeper insights into the technology space.