Missouri Medical Cannabis Market cover

Missouri Medical Cannabis Market by Product Types (Buds, Oils, and Tinctures), Applications (Chronic Pain, Cancer, Mental Disorders, and Others) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: HC-1614
  • Author: Growth Market Reports
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  • No. Of Pages: 193
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Missouri medical cannabis market size was valued at USD 31 million in 2020 and is anticipated to expand at a CAGR of 22.1% during the forecast period, 2021–2028.  The growth of the market is attributed to the increasing prevalence of chronic diseases, rising research and development about benefits of marijuana on human health, and growing awareness about its benefits among patients. In 2018, the medical use of cannabis was legalized in Missouri.

Missouri has a long history about use of marijuana, which was dated back in 1900s when there was trend of prohibition of the drug. The state prohibited all types of marijuana and also formulated several stringent regulations to prevent smuggle of cannabis and if anyone was found possessing marijuana, then the person would be charged with a death penalty. Later, in 1994 cannabis are legalized by the state legislature for medical use and there emerged some political dispute as the legalization of cannabis as medicine was not accepted under the federal law. Therefore, the legalization of cannabis was dropped by Missouri State.

Missouri Medical Cannabis Market summary

In 2014, several improvements were made which led to pave for the legalization of the plant. In January 2017, Senate Bill 491 was enacted, which further push forward for the legal adoption of the plant for medicine use. Meanwhile, as per the bill, the provision for imprisonment punishment of the person for keeping marijuana was revoked if the person has possession up to 10 grams. These series of events finally led to the legalized consumption of cannabis by patients as part of their treatments.  The process of distribution, manufacturing, and cultivation of the plant was firstly legalized in Missouri in November 2018 and this allowed the development of cannabis for the use of medicine in the state. 

Market Trends, Drivers, Restraints, and Opportunities

  • Growing prevalence of diseases and rising number of patients suffering from chronic illness are expected to fuel the growth of the market.
  • Increasing sales of medical cannabis and accessibility of marijuana are projected to propel the market growth over the forecast period.
  • Availability of medical cannabis at cheaper price is one of the key factors responsible for the market expansion in the coming years.
  • Growing geriatric population around the world and their higher risks to be exposed to several diseases are crucial factors driving the market.
  • Recreational use of marijuana is prohibited in Missouri, which is anticipated to hinder the market growth.
  • Stringent regulations on the development process and presence of illegal recreational market are major challenges that are anticipated to hamper the market expansion over the forecast period.

Scope of the Report

The report on Missouri medical cannabis market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Missouri Medical Cannabis Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Product Types (Buds, Oils, and Tinctures) and Applications (Chronic Pain, Cancer, Mental Disorders, and Others)

Regional Scope

Missouri

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

fresh.green dispensaries, Missouri Wild Alchemy, Flora Farms, The Valley, COCO, and Nirvana Investments LLC

Market Segment Insights

Buds segment is projected to hold a key market share

On the basis of product types, Missouri medical cannabis market is segmented into buds, oils, and tinctures. The buds segment is expected to hold a key share of the market during the forecast period. Buds are the main plant product, which is considered to be helpful for patients by alleviating chronic pain and reducing progression of Alzheimer and cancer disease. Also, buds form is cheaper than other forms of products and affordable to patients with low-income, which acts as key factor driving the segment growth.

Missouri Medical Cannabis Market types

On the other hand, the oil segment is anticipated to expand at a rapid pace during the forecast period as it is widely used for various applications such as muscle spasms due to multiple sclerosis, growing demand of oil for treating epilepsy, autism, seizures, and post-traumatic stress disorder (PTSD), Parkinson’s disease, and chronic pain. Moreover, oil is safe and can be easily distributed for patients’ consumption as it does not cause any ill effects on health.

Mental disorder segment is expected to grow at a rapid pace

Based on applications, the market is divided into chronic pain, mental disorders, cancer, and others. The chronic pain segment is expected to account for a key share of the market during the forecast period owing to the increasing acceptance of cannabis for pain management. The medical cannabis is widely used for the pain treatment related to various types of illness and disorders such as cancer, neurogenic, headache, face pain, arthritis, neck, and low back. Moreover, chronic pain is related to several other medical conditions, which increases acceptance of cannabis for pain management. Increasing aging population, who are more prone to acute pain due to weaker immune system, is a critical factor for pushing the demand for pain management solutions, thereby, propelling the segment growth.

Missouri Medical Cannabis Market application

However, the mental disorders segment is anticipated to expand at a rapid pace during the forecast period. Medical cannabis is increasingly adopted as alternative to those failed treatment and unresponsive mental disorders in the previous cases. Increasing research and growing usage of marijuana for various mental disorders treatments is anticipated to fuel the segment growth in the coming years. Psychological conditions such as anxiety disorders, bipolar disorder, Alzheimer’s disease, post-traumatic stress disorder (PTSD), attention deficit hyperactivity disorder (ADHD), Parkinson’s disease, depression, and multiple sclerosis are treated effectively by using medical cannabis because of its therapeutic benefits.
 

Segments

Segments Covered in the Report

Missouri medical cannabis market has been segmented on the basis of

Product Types

  • Buds
  • Oils
  • Tinctures

Applications

  • Chronic Pain
  • Mental Disorders
  • Cancer
  • Others

Key Players

  • fresh.green dispensaries
  • Missouri Wild Alchemy
  • Flora Farms
  • The Valley
  • COCO
  • Nirvana Investments LLC

Competitive Landscape

Key players competing in Missouri medical cannabis market include fresh.green dispensaries, Missouri Wild Alchemy, Flora Farms, The Valley, COCO, and Nirvana Investments LLC.
Major market players are actively focusing to implement several business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.

Missouri Medical Cannabis Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Missouri Medical Cannabis Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Missouri Medical Cannabis Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Missouri Medical Cannabis Market - Supply Chain
  4.5. Global Missouri Medical Cannabis Market Forecast
     4.5.1. Missouri Medical Cannabis Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Missouri Medical Cannabis Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Missouri Medical Cannabis Market Absolute $ Opportunity
5. Global Missouri Medical Cannabis Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Missouri Medical Cannabis Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Missouri Medical Cannabis Demand Share Forecast, 2019-2026
6. North America Missouri Medical Cannabis Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Missouri Medical Cannabis Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Missouri Medical Cannabis Demand Share Forecast, 2019-2026
7. Latin America Missouri Medical Cannabis Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Missouri Medical Cannabis Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Missouri Medical Cannabis Demand Share Forecast, 2019-2026
8. Europe Missouri Medical Cannabis Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Missouri Medical Cannabis Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Missouri Medical Cannabis Demand Share Forecast, 2019-2026
9. Asia Pacific Missouri Medical Cannabis Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Missouri Medical Cannabis Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Missouri Medical Cannabis Demand Share Forecast, 2019-2026
10. Middle East & Africa Missouri Medical Cannabis Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Missouri Medical Cannabis Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Missouri Medical Cannabis Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Missouri Medical Cannabis Market: Market Share Analysis
  11.2. Missouri Medical Cannabis Distributors and Customers
  11.3. Missouri Medical Cannabis Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. fresh.green dispensaries
     11.4.2. Missouri Wild Alchemy
     11.4.3. Flora Farms
     11.4.4. The Valley
     11.4.5. COCO

Segments Covered in the Report

Missouri medical cannabis market has been segmented on the basis of

Product Types

  • Buds
  • Oils
  • Tinctures

Applications

  • Chronic Pain
  • Mental Disorders
  • Cancer
  • Others

Key Players

  • fresh.green dispensaries
  • Missouri Wild Alchemy
  • Flora Farms
  • The Valley
  • COCO
  • Nirvana Investments LLC

Key players competing in Missouri medical cannabis market include fresh.green dispensaries, Missouri Wild Alchemy, Flora Farms, The Valley, COCO, and Nirvana Investments LLC.
Major market players are actively focusing to implement several business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.

Missouri Medical Cannabis Market keyplayers

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