Morocco Medical Cannabis Market Size, Share & Trends Analysis Report 2023: Market to Reach $537.7 Million by 2030, Growing at a CAGR of 48% with Bio Cannat & PharmaCielo Dominating - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Morocco Medical Cannabis Market Size, Share & Trends Analysis Report By Product (Flower, Oil & Tinctures), By Application (Chronic Pain, Tourette's Syndrome, Cancer, Depression & Anxiety), And Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.

The Morocco medical cannabis market size is expected to reach USD 537.70 million by 2030, registering a CAGR of 48.0%

The legalization and regulation of cannabis production and export in Morocco have paved the way for a burgeoning industry, offering economic opportunities and job creation. The global demand for medical cannabis continues to rise, driven by growing recognition of its therapeutic potential. The Moroccan government's proactive steps to legalize and regulate the cannabis sector respond to the global demand for legal marijuana, particularly medical cannabis.

Morocco's historical role as one of the world's largest marijuana producers in the northern region positions it favorably in the market. However, the industry has operated informally and without regulation for years. Now, with formalization, Morocco aims to harness the economic benefits of the sector and meet the demand for legal marijuana.

The adoption of marijuana for medical purposes is experiencing an upsurge, thanks to increased awareness of its health benefits and accessibility through legal channels. In countries where marijuana is legalized or decriminalized, illicit purchases have decreased significantly.

Furthermore, legalization provides governments with a revenue source through taxation, which can be allocated to critical development programs in education and infrastructure. As a result, legalization has stimulated demand and reduced the influence of the illicit market.

Nevertheless, the Moroccan market may encounter hurdles due to regulatory restrictions, including limited patient access, strict licensing requirements, and product type limitations. These restrictions have the potential to impede market growth, despite the overall positive outlook.

The complex regulatory approval process may discourage potential entrants and limit innovation within the industry. Additionally, while the medical community's understanding of marijuana is evolving, public perception and stigma surrounding its use, even for medical purposes, can hinder widespread adoption.

Despite these challenges, Morocco's medical cannabis market holds significant promise. As regulatory frameworks mature, research advances, and awareness grows, the industry is poised for long-term success. With the government's recognition of the economic benefits and the surging global demand for marijuana, the market stands to benefit patients, businesses, and the broader economy.

Morocco Medical Cannabis Market Report Highlights

• Based on product, the market is segmented into flowers, oils & tinctures. The oils & tinctures segment held the majority of the revenue share of 51.3% in 2022
• The oils & tinctures segment is expected to grow at the fastest CAGR of 48.8% over the forecast period
• Based on application, chronic pain held the majority share of 27.3% in 2022. Its growth can be attributed to research indicating the beneficial effects of marijuana in mitigating pain and the significant incidence of chronic pain
• The Tourette's syndrome segment is expected to grow at a significant CAGR of 54.0% during the forecast period, owing to an increasing number of patients exploring the potential benefits of marijuana-based treatments

Competitive Landscape

• Bio Cannat
• PharmaCielo Ltd

Market Dynamics

Market Driver Analysis

• Growing Adoption of Medical Marijuana for Treatment of Chronic Diseases
• Elimination of Black Market Through Legalization
• Growing Cannabis Tourism in the Country

Market Restraint Analysis

• Lower Market Access of Marijuana Due to Absence of Legalization Programs
• High Pricing of Medical Marijuana in Big & Established Markets

Legalization of Medical Cannabis for Selected Indications

• Penetration and Growth Prospect Mapping

History of Medical Use of Cannabis

Morocco Medical Cannabis Market Analysis Tools

• Morocco Medical Cannabis market - PESTLE Analysis
• Morocco Medical Cannabis market - Porter's Analysis

COVID-19 Impact on Morocco Medical Cannabis Market

Morocco Medical Cannabis Scenario and Insights

• The Scale of the Moroccan Cannabis Industry
• Cannabis Legalization and Cannabis Industry Future
• Regulatory Scenario
• Cannabis Illegal Trade Routes

Role of Cannabis License Holders and Their Relation with Farmers and Producers

Global Companies and Their Market Entry Strategies for the African Cannabis Industry

For more information about this report visit https://www.researchandmarkets.com/r/irm186

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