The report titled “Cannabidiol (CBD) Market: Global Demand Analysis & Opportunity Outlook 2029” delivers a detailed overview of the global smart speaker market in terms of market segmentation by an intelligent virtual assistant, by end-user, by price, by distribution channel, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
The Cannabidiol (CBD) Market is anticipated to grow at CAGR during the forecast period, registering a revenue of USD. The research report on the cannabidiol (CBD) market includes in-depth insights into the growth driver, expansion opportunities, challenges, and recent trends, among other factors influencing the market growth.
The market is estimated to prosper majorly n account of the growing advancements in the research and development of novel drugs, along with the improvement in the health infrastructure in several developed and developing nations worldwide. Moreover, the high government expenditure for the development of public healthcare infrastructure is anticipated to significantly fuel the growth of the market. A report by the World Bank stated that the current health expenditure around the world increased from 8.972% of GDP in 2001 to 9.856% of GDP in 2018.
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Furthermore, the increasing investment in the R&D activities in the medical field, along with rising health awareness amongst the individuals, are anticipated to drive the growth of the market. In addition to this, the current health expenditure per capita (in current USD) increased from USD 492.992 in 2001 to USD 1,110.268 in 2018. Moreover, growing concern for mortality due to various diseases and the need to lower the crude death rate, are also anticipated to drive the market growth during the forecast period. It was observed that the crude death rate was close to 7% (per 1000 people) in 2019.
In addition to this, the increasing prevalence of chronic diseases, such as diabetes, cancer, hypertension, ischemic heart diseases, and others is also anticipated to support the market growth. Nearly 10 million deaths were caused by cancer in the year 2020. The most common cancers in the year 2020 were breast cancer, which recorded nearly 2.3 million cases in the same year. Moreover, around 9% of the total population aged 20 and 79, was suffering from diabetes, in the year 2019.
On the basis of geographical analysis, the cannabidiol (CBD) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. These regions are further subdivided into following North America (U.S. & Canada), Latin America (Argentina, Mexico, Brazil, Rest of Latin America), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), and the Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa).
The cannabidiol (CBD) market Market in the North American region is projected to display significant growth opportunities during the forecast period, owing to the high healthcare expenditure, presence of major pharmaceutical companies, and increasing research activities for the development of new drugs. According to the statistics by the World Bank, in 2018, North America spent USD 10,050.516 for the healthcare of every individual. The total healthcare expenditure accounted for 16.415% of the total GDP of North America in the same year.
The cannabidiol (CBD) market is further segmented on the basis of regional analysis, the global cannabidiol (CBD) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa regions.
Some of the major key players, listed in the report are Cannoid, LLC, PharmaHemp d.o.o., NuLeaf Naturals, LLC, Folium Biosciences, Medical Marijuana, Inc., CBD American Shaman, LLC, Aurora Cannabis Inc., Canopy Growth Corporation, ENDOCA
The report also contains deep insights on the business strategies of these players, along with their key performance indicators, and SWOT analysis.
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Henry Lucas is an experienced Industry researcher with more than 10 years of experience and he has a great interest and knowledge about the Business industry in research Strategy, Strategic Planning, new innovations and technology.