US Medical Cannabis Market Size- Industry Share, Growth, Trends and Forecast 2035

US Medical Cannabis Market Overview

The US Medical Cannabis Market is witnessing significant transformation, driven by evolving regulatory landscapes, increasing acceptance of cannabis for therapeutic use, and growing patient demand for alternative treatments. As legalization spreads across states and medical research expands, the market continues to unlock new opportunities for patients, healthcare providers, and investors alike.

Medical cannabis, also known as medical marijuana, refers to the use of the Cannabis sativa plant and its derivatives for treating symptoms of illness and other health conditions. In the United States, medical cannabis has gained momentum, particularly for chronic pain, cancer, multiple sclerosis, epilepsy, PTSD, and glaucoma.

As of 2025, over 38 states plus Washington D.C. have legalized medical cannabis in some form. The growing public support, combined with new clinical studies affirming the therapeutic benefits of cannabinoids such as THC and CBD, has positioned the US as one of the largest and most dynamic medical cannabis markets globally.

US Medical Cannabis Market Industry is expected to grow from 5(USD Billion) in 2024 to 15 (USD Billion) by 2035. The US Medical Cannabis Market CAGR (growth rate) is expected to be around 10.503% during the forecast period (2025 - 2035).

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Key Market Segments

The US medical cannabis market is segmented by product type, application, route of administration, and distribution channel.

1. By Product Type

• Flowers/Buds: Traditionally smoked or vaporized, still in high demand.

• Oils and Tinctures: Popular for precise dosing and ease of use.

• Edibles: Including gummies, chocolates, and capsules for long-lasting effects.

• Topicals: Creams and lotions for localized pain relief.

• Transdermal Patches: Emerging for controlled cannabinoid delivery.

2. By Application

• Chronic Pain Management

• Cancer Therapy

• Mental Health Disorders (e.g., Anxiety, PTSD)

• Neurological Disorders (e.g., Epilepsy, Multiple Sclerosis)

• HIV/AIDS Symptom Management

• Glaucoma and Others

3. By Route of Administration

• Oral

• Inhalation

• Topical

• Sublingual

• Transdermal

4. By Distribution Channel

• Dispensaries

• Online Pharmacies

• Hospitals and Clinics

The dispensaries segment holds the largest share due to its legal structure, patient outreach programs, and experienced personnel.

Industry Latest News

The US medical cannabis industry has seen several notable developments in recent months:

• Federal Legislative Push (2025): The proposed "Cannabis Medical Access and Research Act" is gaining traction in Congress, aiming to remove cannabis from Schedule I classification and facilitate more medical research.

• FDA Approvals: Ongoing clinical trials for cannabinoid-based therapies like Epidiolex (CBD) and other formulations are expanding the range of approved medical uses.

• Insurance Coverage Expansion: States like New York and Connecticut are considering legislation to include medical cannabis under Medicaid and private insurance, which could dramatically boost patient access.

• Big Pharma Partnerships: Companies such as Pfizer and Johnson & Johnson are exploring cannabinoid drug research partnerships with medical cannabis firms.

• AI and Cannabis Tech: AI-based solutions are helping doctors personalize treatment plans using patient data, further enhancing treatment effectiveness and compliance.

Key Companies in the US Medical Cannabis Market

The market is moderately fragmented, with both established players and emerging startups contributing to innovation and growth. Key companies include:

1. Curaleaf Holdings Inc.

A leading US cannabis operator offering a wide range of medical cannabis products. It operates in over 20 states with extensive dispensary networks.

2. Green Thumb Industries (GTI)

Renowned for its medical cannabis brand “RYTHM,” GTI has grown rapidly across Illinois, Florida, and Pennsylvania.

3. Trulieve Cannabis Corp.

Headquartered in Florida, Trulieve leads the Southeastern US medical cannabis space with robust vertical integration.

4. Cresco Labs

Focused on both medical and adult-use cannabis, with high-quality products and physician-partner programs.

5. Charlotte’s Web

Specializes in hemp-derived CBD products, widely used in epilepsy and anxiety treatment protocols.

6. Tilray Brands Inc.

An international cannabis leader with operations in the US, focusing on wellness, research, and clinical development.

Other notable players: Verano Holdings, Columbia Care, MedMen, and PharmaCann.

Market Drivers

Several factors are fueling the steady expansion of the US medical cannabis market:

1. Legislative Advancements

The gradual decriminalization and legalization of medical cannabis across more states have created a supportive regulatory framework.

2. Growing Chronic Disease Burden

With a rising prevalence of chronic conditions such as arthritis, cancer, and neurological disorders, patients are seeking alternative and adjunctive therapies.

3. Positive Public Perception

Surveys indicate that over 70% of Americans now support medical cannabis legalization, a trend that reflects increased awareness of its health benefits.

4. Expanding Research and Clinical Trials

Academic institutions and pharmaceutical firms are ramping up research into cannabinoids for conditions like Alzheimer’s, anxiety, and inflammatory diseases.

5. Innovation in Formulations

Advanced delivery systems like nanoemulsion and extended-release capsules are improving product efficacy and patient compliance.

6. Telemedicine and Digital Tools

The rise of telehealth platforms is enabling virtual consultations for cannabis prescriptions, making access more convenient, especially in rural areas.

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Regional Insights

California

As the pioneer state in cannabis legalization, California leads the nation in market size. Its mature regulatory structure, extensive dispensary network, and large patient base support a robust ecosystem.

Florida

With a rapidly growing number of registered patients and favorable laws, Florida has become a hotbed for medical cannabis investment, particularly in the Southeast.

New York

New York's recent legalization measures and proposed insurance mandates for medical cannabis are likely to attract healthcare providers and pharmaceutical firms.

Pennsylvania

This state has become a stronghold for medical marijuana, particularly due to its emphasis on medical research and clinical trials.

Arizona, Illinois, and Ohio

These states are also witnessing double-digit growth rates due to progressive legislation and expanding healthcare provider participation.

Texas

While still restrictive, Texas is seeing growing political and public support for expanded medical cannabis access, signaling potential future growth.

Future Outlook

The future of the US medical cannabis market looks promising as regulatory clarity improves and mainstream healthcare providers begin to embrace cannabis as a legitimate therapeutic option. Further integration with insurance systems, combined with more robust data on efficacy and safety, will likely bring cannabis closer to pharmaceutical standards.

Market participants will need to focus on:

• Standardized dosing and labeling

• Clinical research-backed product development

• Compliance with FDA and DEA guidelines

• Educating healthcare professionals and patients