The global synthetic cannabinoids market size was US$ 2.11 billion in 2021. The global synthetic cannabinoids market size is forecast to reach US$ 13.6 billion by 2030, growing at a compound annual growth rate (CAGR) of 23% during the forecast period from 2022 to 2030.
Synthetic cannabinoids are human-made chemicals that are either sprayed on shredded plant material for smoking or sold as liquids that may be vaporized and inhaled via e-cigarettes and other devices. They are also known as herbal incense or liquid incense. Chemically, they are known as cannabinoids because they are similar to those found in marijuana plants. Known as new psychoactive substances (NPS), synthetic cannabinoids belong to the group of drugs known as synthetic cannabinoids. Synthetic cannabinoids are a class of drugs designed to mimic the effects of THC, the principal psychoactive ingredient in cannabis.
Factors Influencing Market Growth
Impact Analysis of COVID-19
COVID-19 had hampered the sale of synthetic cannabinoids, especially in 2020. Growing awareness of the novel COVID-19 infection and its effects on the human respiratory system have been the key factors hindering the sale of synthetic cannabinoids. Additionally, stringent government regulations in several nations regarding the trade and transportation of non-essential goods and commodities were major factors disrupting the global supply chain for synthetic cannabinoids in 2020.
Regional Insights
North America held dominance in the synthetic cannabinoids market in 2021 and is forecast to continue dominating the synthetic cannabinoids market during the forecast period. The rise in the incidence of neurological pain disorders, multiple sclerosis, and cancer is forecast to drive the market in the region. In addition, the production of synthetic cannabinoids is likely to boost the market in the country in the forecast period. Furthermore, rising exports and imports of synthetic cannabinoids are likely to increase due to the approval of legalizing the sale of CBD products in several countries throughout the forecast period.
Leading Competitors
The leading prominent companies profiled in the global synthetic cannabinoids market are:
Scope of the Report
The global synthetic cannabinoids market segmentation focuses on Product Type, Indication, Distribution Channel, and Region.
Segmentation based on Product Type
Segmentation based on Indication
Segmentation based on Distribution Channel
Segmentation based on Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL SYNTHETIC CANNABINOIDS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
4 GLOBAL SYNTHETIC CANNABINOIDS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE MODEL
4.4 VALUE CHAIN ANALYSIS
5 GLOBAL SYNTHETIC CANNABINOIDS MARKET, BY PRODUCT TYPE
5.1 OVERVIEW
5.2 HIGH-PURE SYNTHETIC CANNABINOIDS
5.3 ULTRA-PURE SYNTHETIC CANNABINOIDS
6 GLOBAL SYNTHETIC CANNABINOIDS MARKET, BY INDICATION
6.1 OVERVIEW
6.2 PAIN MANAGEMENT
6.3 NAUSEA/VOMITING
6.4 NEUROLOGICAL DISORDER MANAGEMENT
6.5 OTHERS
7 GLOBAL SYNTHETIC CANNABINOIDS MARKET, BY DISTRIBUTION CHANNEL
7.1 OVERVIEW
7.2 HOSPITAL PHARMACIES
7.3 RETAIL PHARMACIES
7.4 ONLINE PHARMACIES
8 GLOBAL SYNTHETIC CANNABINOIDS MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3. 1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL SYNTHETIC CANNABINOIDS MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
10 COMPANY PROFILES
10.1 MYLAN N.V.
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.2 ALKEM LABS
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.3 NORAMCO, LYGOS, INCORPORATED
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.4 HYASYNTH BIOLOGICALS, INCORPORATED
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.5 RENEW BIOPHARMA
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.6 CANNBIORX LIFE SCIENCES
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.7 GINKGO BIOWORKS
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
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