Medical Marijuana & the Opioid Crisis Market & Industry Analysis Report


Posted July 2, 2019 by yadav26

Just in 2017, medical cannabis totaled $7.3 billion, up from $4.8 billion in 2016. This segment will likely achieve a 22.2% CAGR to reach nearly $19.8 billion at the producer level in 2022 and will account to more than 80% of the global market.

 
Marijuana from the Cannabis plant is classified as a psychoactive drug used for medical or recreational purposes. Although it has been used for decades, in the U.S., it is still illegal under federal law to use and possess marijuana.

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Nevertheless, at the state level, policies regarding the medical and recreational use of Cannabis vary greatly, and in many states conflict significantly with federal law. For example, as early as 1996, California voters passed Proposition 215, making the Golden State the first to allow for the medical use of marijuana.

As of today, 34 states, the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands have approved a comprehensive, publicly available medical marijuana/Cannabis programs.

Indeed, although Cannabis use as recreational drug may be controversial, there is no doubt that this plant has important medical properties that can be beneficial for certain medical conditions.

Pain relief is one of the properties attributed to marijuana. Consequently, in the wake of opioid crisis, many see this plant as a solution for opioid addiction.

Nevertheless, the pathway to substitute marijuana for opioids as a painkiller is not so simple.

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Last Updated July 2, 2019