A recent report by Data Bridge Market Research said that the Global Legal Marijuana Market is expected to reach USD 90.83 Billion at a CAGR of 20.0% Forecast by 2027.
The growth of the Legal Marijuana Market was mainly driven by the increasing R&D spending across the world, however latest COVID scenario and economic slowdown have changed complete market dynamics.
Overview of Legal Marijuana Market
The growth in the legalization of cannabis in numerous nations is a prime determinant stimulating market germination. The effectiveness of marijuana for therapeutic objectives is augmenting momentum across the world due to current legalizations in multiple nations. Medicinal hemp is used for the medication of persistent diseases, such as malignancy, arthropathy, and neurological maladies, such as stress, panic attacks, Alzheimer’s sickness, and Parkinson’s disorders. The high predominance of cancer is anticipated to be essential circumstances propelling the requirement for legalized marijuana.
However, the numerous conflicting conclusions of smoking cannabis, which involve the composition of mucus, prolonged cough, and respiratory infections such as COPD, will act as the restraint for the market growth.
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