Marijuana Market Could Be Worth More Than $50 Billion Very Soon

Marijuana Market Could Be Worth More Than $50 Billion Very Soon

Marijuana is now making the rounds in medical circles, with doctors having come around to considering the benefits that can be enjoyed on a number of cases that have either not been solved previously or with which progress has been slow.

Marijuana, popularly referred to as pot, was administered in one case which involved a wheelchair-bound 97-year-old woman. She was able to get up and dance after receiving treatment for arthritis. The doctor in that case, Dr Lydia Hatcher, said, “When you see results like that, it makes you feel there’s something more to this.”  She also noted that more than 10 percent of her patients use only cannabis to treat their pain and related symptoms.

Some countries have already approved the use of medical marijuana: Germany, Mexico, Australia, Denmark, Luxembourg are just some of them. The United Kingdom are leaning towards a acceptance of Marijuana as well. Prescriptions for cannabis-derived medicine will be allowed by Fall.

The global medical pot market could be worth more than $50 billion by 2025, from $8 billion in 2017, 10 times the projected size of Canada’s total marijuana sector, according to PI Financial Corp. Medical “is potentially bigger, for sure as a percentage growth,” says Bruce Linton, chief executive officer of Canopy Growth Corp.

The biggest opportunity for medical marijuana could be in pain treatment. The opioid crisis across North America has physicians and patients seeking safer alternatives in the pain sphere. Opioid overdoses increased 30 percent from July 2016 through September 2017, according to the National Institute on Drug Abuse.

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