The global medical hemp CBD market size is estimated to be USD 5,990.6 million in 2021 and is expected to witness a CAGR of 21.13% during the forecast period. Increasing health consciousnesscoupled with relaxation in rules& regulations associated with the use of CBD are key drivers for the market growth. Moreover, increase inresearch & development, commercial availability, and government initiatives are other drivers propelling the market growth. However, ambiguity in regulations with inadequate research data support for the benefits of CBD for the treatment of medical conditionare expected to restrain the global growth.

By Application

Based on application, the market is categorized into HIV, neurological conditions, pain management, stress disorders, and others. In 2021, the stress disorder segment accounted for a significant revenue share due to the increasing prevalence of stress-based illness worldwide. Neurological condition segment is anticipated to grow at a significant CAGR during the forecast period due to increasing R&D by biotechnology firms and liberalization of policies for the use of hemp CBD.

By Distribution Channel

Based on distribution channel, the market is categorized into online and dispensaries. In 2021, dispensaries accounted for the largest revenue share in 2021 due to safety & reliability of this channel as they are regulated by the local government andoffer a broad range of products. Furthermore, most of the patients highly prefer authorized dispensaries for required products, therebyboosting the segmentgrowth. However, online distribution channel is projected to grow at a lucrative CAGR during the forecast period.

Regional Insights

In 2021, North America accounted for the largest revenue share in the global market. This can beattributed to rising focus on research to explore novel approaches for the treatment of chronic diseases.Moreover, growinglegalization of medical use of hempis expected topropel segment growth in near future. Asia Pacific expected to grow at a lucrative CAGR during the forecast period owing to large production of cannabis sativa plant coupled with rising legalizationof medical hemp for use in this region. European region is expected to grow at a significant CAGR during the forecast period owing to increasing consumer awareness for CBD benefits and rising adoption of CBD.

CompetitorInsights

Some of the majorcompanies in the medical hemp CBD market are Tikun Olam (Israel), Irwin Naturals (U.S.), OrganiGram Holdings (Canada), Charlottes Web Holdings, Inc. Wr. (U.S.), Cronos Group (Canada), CV Sciences, Inc. (U.S.), Aphria Inc. (Canada), Medical Marijuana, Inc. (U.S.), Aurora Cannabis Inc. (Canada), and Elixinol Global (Australia).The leading players have adopted strategic collaborations, mergers& acquisitions, and novel product development approaches to capture the market share.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country-level along with key market trends and dynamics from 2021 to 2029. The Medical Hemp CBD Market report is categorized into the following segments and subsegments:

Medical Hemp CBD Market, By Application(Revenue, 2021-2029, USD Million)

Medical Hemp CBD Market, By Distribution Channel (Revenue, 2021-2029, USD Million)

Medical Hemp CBD Market, By Region (Revenue, 2021-2029, USD Million)

Scope of Medical Hemp CBD Market Report:

Key Parameters	Details
Base Year	2021
Forecast Period	2022-2029
Study Coverage	Global and regional market size and revenue forecast Segment market size and revenue forecast at global, regional, and country level Competitive landscape (company share analysis, company profiles, recent development, competitive map analysis) Conclusion and recommendations
Qualitative Analysis	Market drivers Market restraints Market opportunities Recent market trends Market challenges Porter’s Five Forces analysis PEST analysis Value-chain analysis COVID-19 impact analysis
Regional Market Scope	North America (U.S. and Canada) Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe) Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC) Latin America (Brazil, Mexico, Argentina, Rest of LATAM) MEA (South Africa, GCC, Rest of MEA)
Company Profiles	Exhaustive profiles of top 10 players 50+ other major players listing
15% Free Customization Available	You can customize the study scope to meet your exact requirement. Click here for more details