The cannabis use disorder market consists of products and therapies for cannabis use disorder. Cannabis use disorder, previously known as cannabis abuse or dependence, is characterized as a pattern of prolonged excessive cannabis use despite harm to physical or mental health and quality of life. Common symptoms include withdrawal symptoms when not using cannabis, increasing tolerance to cannabis, failed attempts to quit, spending excessive time obtaining and using cannabis, giving up important social activities due to cannabis use, and continued use despite physical or psychological problems caused by cannabis. As per the fifth edition of the Diagnostic and Statistical Manual of Mental Disorders (DSM-5), symptoms include craving, spending inordinate amounts of time obtaining and using cannabis, continued use despite physical or psychological problems, tolerance to effects, withdrawal symptoms when not using, cannabis use resulting in failure to fulfill major role obligations at work, school, or home.
The cannabis use disorder market is estimated to be valued at USD 1.64 Bn in 2024 and is expected to reach USD 3.06 Bn by 2031, growing at a compound annual growth rate (CAGR) of 9.33% from 2024 to 2031.
Key Takeaways
Key players operating in the cannabis use disorder market are Indivior, copyright, Alkermes, Novartis, and Mylan. These key players are focusing on developing novel therapies for cannabis use disorder.
Increasing legalization and recreational use of cannabis is a major factor driving the growth of Cannabis Use Disorder Market. Several countries and states have legalized medical and recreational use of cannabis in recent years. This has led to a rise in cases of cannabis use disorder.
Technological advancements in developing novel treatment modalities for cannabis use disorder is also boosting the market growth. Companies are developing drugs to treat withdrawal symptoms, reduce cravings, block euphoric effects, and reduce relapse rates. Digital therapeutics and cognitive behavioral therapies are also gaining traction.
Market Trends
- Increase in research funding for developing new cannabis use disorder drugs by government organizations and private bodies. National Institute on Drug Abuse (NIDA) is actively funding research projects.
- Combination therapies that involve pharmacological and non-pharmacological approaches are being explored. Combining medications with psychotherapy, contingency management approaches, digital therapies are under investigation.
Market Opportunities
- Developing drugs that can selectively target symptoms like craving and withdrawal symptoms with minimal side effects offers significant opportunities.
- Developing digital therapeutics and mobile health apps for monitoring symptoms, managing triggers, providing CBT could be an effective low-cost approach and presents major opportunities.
Impact of COVID-19 on Cannabis Use Disorder Market growth
The COVID-19 pandemic had a significant impact on the Cannabis Use Disorder market. During the initial months of the pandemic in 2020, many countries imposed strict lockdowns and restrictions on movements to curb the spread of the virus. This disrupted regular healthcare services and affected the access to treatment and diagnosis of patients suffering from Cannabis Use Disorder. Hospitals had to shift focus towards managing COVID-19 cases, leading to the postponement of non-emergency procedures and outpatient appointments related to Cannabis Use Disorder.
The social isolation caused by lockdowns and restricted social interactions also negatively impacted the mental health of many individuals. This increased the risk of substance abuse relapse or escalation of Cannabis Use Disorder among patients. However, as healthcare systems adapted to the new normal, facilities resumed Cannabis Use Disorder treatment services with necessary safety protocols. Telehealth and digital solutions helped bridge the gap and ensured continuity of care. In the post-COVID scenario, awareness about mental health issues has increased. This is prompting more individuals to seek help for conditions like Cannabis Use Disorder. Treatment providers are also enhancing their digital capabilities to facilitate remote monitoring and support.
Geographical concentration of Cannabis Use Disorder Market value
North America accounts for the largest share of the global Cannabis Use Disorder market in terms of value. This is mainly due to the early legalization of medical cannabis in countries like the US and copyright. Widespread social acceptance of cannabis use and growing awareness about associated disorders have also boosted the North America Cannabis Use Disorder market size. Moreover, the presence of leading treatment providers and favorable reimbursement structures help patients afford care easily in this region.
Fastest growing region for Cannabis Use Disorder Market
Asia Pacific region is poised to witness the fastest growth in the Cannabis Use Disorder market during the forecast period. Factors like rising affluence, increasing health spending, growing patient volumes and changing social attitudes are driving the APAC market. Countries like India, China, Japan, Australia and South Korea are emerging as new hotspots. While regulatory acceptance of cannabis is still evolving in Asia, rising economic capabilities are allowing more individuals to seek professional help. This provides a strong growth foundation for Cannabis Use Disorder treatment providers targeting the Asian markets.
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