Controlled Release Cannabis Pills Market Size, Share, Trends, Growth and Forecast 2028

Controlled Release Cannabis Pills Industry Prospective:

The global controlled release cannabis pills market size was evaluated at $11 billion in 2022 and is slated to hit $13 billion by the end of 2030 with a CAGR of nearly 2.11% between 2023 and 2030.

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Controlled Release Cannabis Pills Market: Overview

Cannabis also referred to as marijuana is a medicinal herb derived from the Cannabaceae plant family. Furthermore, it has been used for medical purposes and hence is also referred to as medical marijuana. Additionally, controlled release cannabis pills are used in treating chronic pain, nausea, insomnia, and muscle spasms. Reportedly, these products help in reducing vomiting during chemotherapy. Firms are allocating huge amounts of funds to medical marijuana research which has led to high production of controlled release cannabis pills.

Key Insights

• As per the analysis shared by our research analyst, the global controlled release cannabis pills market is projected to expand annually at the annual growth rate of around 2.11% over the forecast timespan (2023-2030)
• In terms of revenue, the global controlled release cannabis pills market size was evaluated at nearly $11 billion in 2022 and is expected to reach $13 billion by 2030.
• The global controlled release cannabis pills market is anticipated to grow rapidly over the forecast timeline owing to the lasting effect of the product and the legalization of medical marijuana by various governments across the globe.
• In terms of product, the THC/CBD balanced capsules segment is anticipated to register the highest CAGR over the forecast period.
• Based on end-use, the drug stores segment is expected to lead the segmental growth over the period from 2023 to 2030
• Region-wise, the European controlled release cannabis pills industry is projected to register the fastest CAGR during the assessment timespan.                                                                                                              

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Controlled Release Cannabis Pills Market: Growth Factors

Surge in the product demand across the globe to boost the global market trends

The rise in the demand for the product owing to its low side effects has resulted in huge growth of the controlled release cannabis pills market globally. The lasting effect of the product and legalization of medical marijuana by various governments across the globe is likely to impel the expansion of the market globally. In addition to this, the product can be administered orally to people and fulfill the unmet medical requirements of individuals, thereby steering the growth of the market across the globe. A prominent surge in the number of participants in the controlled release cannabis pills market globally can embellish the global market trends. New product launches are predicted to steer the growth of the market globally in the upcoming years.

For instance, in September 2023, Neurocrine Biosciences, Inc., a biopharmaceutical firm based in the U.S., declared that the U.S. FDA accepted its new drug application for INGREZZA® oral granules, a new sprinkle form of INGREZZA® medicines for oral administration. Such moves will steer the expansion of the global market.

Controlled Release Cannabis Pills Market: Restraints

Less supply of raw components can put brakes on the global industry surge by 2030

An increase in the strict laws over legalizing medical marijuana and restricted supply of raw materials can pose a huge threat to the expansion of the global controlled release cannabis pills industry. In addition to this, strict laws governing providing of licenses to cannabis selling firms can further retard the expansion of the industry globally.

Controlled Release Cannabis Pills Market: Opportunities

A Rise in the sale of products in the developed economies can open new opportunities for growth for the global market

These products are sold directly by the producer as well as the retailer to patients possessing licenses to purchase medical marijuana. Such aspects are likely to open new growth avenues for the global controlled release cannabis pills market. With few of the developed countries in Europe and North America approving the use of the product, the market for controlled release cannabis pills is predicted to expand by leaps & bounds in the forthcoming years.

Controlled Release Cannabis Pills Market: Challenges

Fluctuations in the supply chain activities can hinder global industry expansion by 2030

Disruptions in the supply chain can prove to be a huge challenge for the global controlled release cannabis pills industry. The rise in the excise duties on the product will further impede the global industry expansion in the years to come.  

Controlled Release Cannabis Pills Market: Segmentation

The global controlled release cannabis pills market is sectored into product, end-use, and region.                                              

In product terms, the controlled release cannabis pills market globally is bifurcated into high THC capsules, THC/CBD balanced capsules, and high CBD capsules segments. Furthermore, the THC/CBD balanced capsules segment, which accrued nearly 73% of the global market earnings in 2022, is predicted to register the fastest rate of annual growth in the forecast years. The expansion of the segment during 2023-2030 can be owing to the 1:1 ratio preferred by patients searching for medical benefits offered by both cannabinoids.    

Based on the end-use, the controlled release cannabis pills industry across the globe is separated into hospital pharmacies, retail pharmacies, drug stores, and online sales segments. Furthermore, the drug stores segment, which gathered nearly 57% of the global industry revenue in 2022, is predicted to lead the segmental growth over the assessment period. The expansion of the segment during 2023-2030 can be due to a rise in the sale and purchase of controlled release cannabis pills from various kinds of drug stores in the North American and Latin American countries such as Canada & Uruguay.

Controlled Release Cannabis Pills Market: Report Scope

Controlled Release Cannabis Pills Market: Regional Insights

North America is anticipated to uphold its numero-one position in the global controlled release cannabis pills market in the years ahead

North America, which contributed more than 53% of the global controlled release cannabis pills market revenue in 2022, is projected to be a leading region in the coming eight years. Furthermore, the regional market elevation over the forecast timeline can be subject to the legalization of cannabis use in Canada and some states of the U.S. In addition to this, the rise in the use of products as medication in the U.S. and Canada has proliferated the size of the market in the region. The presence of key players in these countries will steer the regional market growth in the coming years.

The European controlled release cannabis pills industry is predicted to register the highest CAGR in the next few years. The growth of the industry in the continent over the forecast timeframe can be attributed to a rise in the prescription of products for patients suffering from chronic disorders and pain in countries such as Germany and the UK.

Controlled Release Cannabis Pills Market: Competitive Space

The global controlled release cannabis pills market profiles key players such as:

• Cannabics Pharmaceuticals
• Wana Edibles
• Depomed
• Corium International Inc.
• Collegium Pharmaceutical
• GlaxoSmithKline

Key Developments

• In May 2023, midose, a division of the Ananda brand, launched a new product line of sublingual cannabis-infused pills. Reportedly, the product offers consumers with curated experience.
• In February 2022, NextEvo launched a SmartSorb system that can help in transforming oil-soluble hemp-extracted CBD oil into water-dispersible emulsion, thereby increasing the CBD contents in the emulsion.

The global controlled release cannabis pills market is segmented as follows:

By Product

• High THC Capsule
• THC/CBD Balanced Capsules
• High CBD Capsules

By End-Use

• Hospital Pharmacies
• Retail Pharmacies
• Drug Stores
• Online Sales

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa