Published: 24-Sep-2020 | Published By: Market Research Store
Medical cannabis is having stringent regulations across the globe. Even in a progressive and liberal country like U.S. about two-thirds of the states are having laws that are regulating medical cannabis. The first step from the District of Columbia for legalizing the use of medical cannabis is estimated to disrupt the medical cannabis market in the forthcoming years. It has been identified that people are using medical cannabis for recreational purposes as well. This recreational cannabis is nothing but FDA approved medical cannabis for the treatment of Epilepsy, Lennox-Gastaut syndrome, and Dravet syndrome. Medical cannabis is extracted from the plant for the treatment of diseases that are difficult to treat commonly by medicines.
Browse the full “Global Medical Cannabis Industry Market Report 2020 - Industry Research Report (Based on 2020 COVID-19 Analysis).” Report at https://www.marketresearchstore.com/report/global-medical-cannabis-market-report-2020-industry-analysis-763777
Medical cannabis can be consumed in the form of smoke, inhalation, and application on the skin. Moreover, recreational marijuana is the same medical cannabis which is used of the medicinal purpose. Due to these reasons, medical cannabis receiving traction from medicinal purpose and recreation as well. It has been found that thousands of patients based in U.K. are consuming illegal cannabis as self-medication. U.K. has made legal cannabis-based products for medicinal use. It is estimated that 1.4 million users in U.K., who source from the illegal back market are estimated to shift to legal medical cannabis. Additionally, one research has also found that children who are suffering from epilepsy medical conditions witnessed improvement after the consumption of medical cannabis.
The legalization of cannabis for medical purposes owing to its inherent properties and shift of the black illegal cannabis market to medical cannabis for recreational purposes is estimated to generate a bolstering demand for medical cannabis in the coming years. Medical cannabis is projected to become a lucrative investment option in the forthcoming period. Our industry expert Analysts have identified the trends and opportunities for the medical cannabis and forecasted market for the next seven years.
According to report published at Market Research Store, the global amount of revenue generated for the medical cannabis industry in 2019 is about USD 6 billion, which is expected to hit approximately USD 22 billion by 2026. In the forecast years, the demand is expected to expand by more than 20 percent CAGR, i.e. during 2020-2026.
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