Medical Cannabis Market: Current Outlook Of Industry & Forecast 2018-2026
According to the U.S., marijuana was the most widely used drug globally in 2014 with around 183 million users. Such a large user base makes it highly lucrative taxable opportunity, which is influencing various governments worldwide to initiate studies regarding legalization of the drug for medicinal use. The National Institute on Drug Abuse is conducting research on cannabis (marijuana) to treat numerous diseases and conditions such as autoimmune disease, pain, inflammation, seizures, mental disorders, and substance abuse disorders. Regulatory compliance is a key factor that influences cost, quality, and safety of cannabis (marijuana) medicines, as well as the capacity for the manufacturers in the medical cannabis market to be responsive, scalable, and innovative. Market Dynamics According to the Medical Marijuana, Inc., an estimated size of the legal marijuana industry in the U.S. was US$ 7.1 billion in 2016 with increase of 25% Y-o-Y. In 2016, 28 states in the U.S. have l...