Medical cannabis is increasingly becoming a popular alternative to traditional pain-relieving medications by demonstrating huge potential to provide various pain symptoms raging from being acute to chronic. The analgesic properties of cannabis help to ease pain resulting from nerve damage and inflammation and are also proven to be useful for inflammatory pain in arthritis patients and pain associated with severe illnesses like cancer and AIDS. Other than pain management, notable medical application areas of cannabis include muscle spasm, headaches, anxiety, vomiting, and nausea, among others. Apart from these applications, research studies have demonstrated the efficacy of cannabis for several other medical applications as well, including amyotrophic lateral sclerosis (ALS), asthma, autoimmune disorders, and certain neurodegenerative disorders like Alzheimer's disease, among others.
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However, out of all these application areas, pain management dominated the market in 2018 and accounted for 39.06% of the total market share of North America cannabis market, by medical application. It further demonstrated the fastest growth rate (CAGR: XX%) owing to the huge adoption of medical cannabis for different pain associated clinical conditions.
In 2018, the North America Cannabis market by distribution channel, is largely dominated by retail sales that accounted for almost XX% of the total market share. Presence of huge number of retail store outlets distributed across the country of the U.S. and Canada attributed to the huge contribution of revenue to the North America cannabis market. In addition, increased preference of customers of buying cannabis products from retail stores also contributed significantly in the growth of the cannabis market (retail sales). However, e-commerce sales of cannabis are expected to witness a higher growth rate as compared to retail sales. Ease of availability of cannabis products through online sales and shifting trend of companies toward the promotion of online platform for e-commerce sales of cannabis are held to be responsible for driving the growth of the North America cannabis market(e-commerce sales).
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