Australia’s medical cannabis market is predicted to exceed USD 2.67 billion by 2035, according to a recent Market.us Media report. The market was worth an estimated $781.6 million in 2025. It is expected to grow at a Compound Annual Growth Rate of 13.1% over the next 10 years.
The projection means the market would more than triple in value over the coming decade. The figures come from a single Market.us Media report on the Australian medical cannabis sector. The report covers the regulated medical program and the products available to patients.
Australia’s medical cannabis program is regulated by the Therapeutic Goods Administration (TGA). Patients have access to many different types of products under the program. These include cannabis flower, oils, capsules, and oral sprays.
The cannabinoid content of these products is primarily tetrahydrocannabinol (THC) or cannabidiol (CBD). The report examined both product categories and market share. It also identified factors contributing to market growth.
The report was covered by Ganjapreneur, a digital business journal for cannabis industry professionals. The figures represent the most recent comprehensive outlook for the Australian medical cannabis market.
Hemp-based products dominate the market with a 54.1% share, according to the report. The report attributed this dominance to greater regulatory flexibility and commercial acceptance. Hemp-based products therefore account for more than half of the Australian medical cannabis market.
The remaining market share is held by other product types available to patients. Patients can currently access flower, oils, capsules, and oral sprays through the TGA-regulated program. The product range gives patients multiple options for cannabinoid content.
THC and CBD remain the primary cannabinoids in the products on the market. The report did not break down market share by individual product format. The 54.1% figure applies specifically to hemp-based products.
The dominance of hemp-based products reflects the regulatory environment described in the report. Greater regulatory flexibility has made these products more commercially accepted. This combination has positioned hemp-based products as the market leader.
The report cited growing patient awareness and acceptance among healthcare professionals as major market growth contributors. New research and improved product availability were also identified as growth drivers.
The TGA continues to regulate the program under which these products are accessed. The report presents the current status of the market and its expected trajectory over the next decade.
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