Global Cannabis Sales to Reach US$101.3 Billion by 2026

A new report by Prohibition Partners, titled “The Global Cannabis Report 3rd Edition: An Overview,” projects that the global cannabis market will surge to an astounding US$101.3 billion by 2026, driven by a robust compound annual growth rate (CAGR) of 25.1% from 2022 to 2026. [Source: Prohibition Partners, “The Global Cannabis Report 3rd Edition: An Overview,” 2023]

This remarkable growth trajectory is propelled by a confluence of factors, including:

• Expanding Legalization: The progressive legalization of cannabis for both medical and recreational purposes across various countries is paving the way for market expansion and fueling a surge in consumer demand. [Source: Prohibition Partners, “The Global Cannabis Report 3rd Edition: An Overview,” 2023]
• Medical Applications: The growing recognition of cannabis’ therapeutic potential for a range of medical conditions, such as chronic pain, epilepsy, and anxiety, is driving its adoption as a legitimate medical treatment. [Source: Prohibition Partners, “The Global Cannabis Report 3rd Edition: An Overview,” 2023]
• Increasing Consumer Acceptance: As societal perceptions of cannabis continue to shift, consumers are becoming more accepting of its use, both for recreational and medicinal purposes. [Source: Prohibition Partners, “The Global Cannabis Report 3rd Edition: An Overview,” 2023]
• Technological Advancements: Technological advancements in cultivation, extraction, and product development are enhancing the quality, consistency, and variety of cannabis products, appealing to a broader consumer base. [Source: Prohibition Partners, “The Global Cannabis Report 3rd Edition: An Overview,” 2023]
• Emerging Regulatory Frameworks: The development of more comprehensive and supportive regulatory frameworks is creating a more conducive environment for cannabis businesses to flourish. [Source: Prohibition Partners, “The Global Cannabis Report 3rd Edition: An Overview,” 2023]

The report further highlights that North America is expected to dominate the global cannabis market, with a projected market share of 49% by 2026. Europe is anticipated to be the second-largest market, with a projected share of 37%. Asia Pacific, Latin America, and Africa are also expected to contribute significantly to the market’s growth. [Source: Prohibition Partners, “The Global Cannabis Report 3rd Edition: An Overview,” 2023]

Key Takeaways:

• Global cannabis sales are projected to reach US$101.3 billion by 2026.
• The global cannabis market is expected to grow at a CAGR of 25.1% from 2022 to 2026.
• Expanding legalization, medical applications, increasing consumer acceptance, technological advancements, and emerging regulatory frameworks are driving market growth.
• North America is expected to be the dominant market, followed by Europe, Asia Pacific, Latin America, and Africa.

The global cannabis market is poised for exponential growth in the coming years, fueled by a multitude of favorable factors. As the industry matures and regulatory frameworks evolve, the potential for cannabis to revolutionize healthcare, consumer products, and recreational activities is immense.

You might be interested in exploring more about the global cannabis market. Speaking of cannabis, you might be interested in learning about its history, uses, and legal status by visiting the Cannabis article on Wikipedia. Additionally, as the industry continues to evolve, advancements in cultivation, extraction, and product development are playing a crucial role. To delve deeper into this topic, you can check out the Cannabis cultivation article on Wikipedia.

A new survey by Viridian Capital Advisors has found that institutional investors are increasingly bullish on U.S. cannabis multistate operators (MSOs). The survey found that 73% of institutional investors believe that MSOs will be a good investment over the next 12 months Here is a summary of the article:

• Date: November 27, 2023
• Survey Finding: Institutional investors are increasingly bullish on U.S. cannabis multistate operators (MSOs).
• Percentage of Bullish Investors: 73%

The survey found that 73% of institutional investors believe that MSOs will be a good investment over the next 12 months. This is a significant increase from previous surveys, and it suggests that institutional investors are becoming more confident in the cannabis industry.

There are a number of reasons why institutional investors are becoming more bullish on MSOs. First, the cannabis industry is growing rapidly. The global legal cannabis market is expected to reach $101.3 billion by 2026. Second, MSOs are increasingly profitable. In 2021, the average EBITDA margin for MSOs was 22%. Third, MSOs are becoming more vertically integrated, which is giving them greater control over their supply chains and reducing their costs.

As a result of these factors, institutional investors are increasingly viewing MSOs as a good long-term investment. The survey by Viridian Capital Advisors is just one piece of evidence that suggests that the cannabis industry is maturing and that institutional investors are taking it more seriously.

Here is the source of the article:

• Source: MJBizDaily
• Title: Big investors keener on cannabis MSOs as rescheduling looms, survey shows
• URL: https://mjbizdaily.com/investor-intelligence/early-cannabis-investors-poised-to-reap-massive-rewards-of-growing-institutional-interest/

The article discusses a survey by Viridian Capital Advisors that found that 73% of institutional investors believe that MSOs will be a good investment over the next 12 months. The article also discusses the reasons why institutional investors are becoming more bullish on MSOs, such as the rapid growth of the cannabis industry, the increasing profitability of MSOs, and the increasing vertical integration of MSOs.

The advancement of medicinal cannabis is on an exciting trajectory as it carves out a significant spot in the global medical industry. Transforming from a fringe, often stigmatized substance into a mainstream medical therapy, the medicinal cannabis industry has seen spectacular growth in the past decade, both in terms of acceptance and economic impact. As we gaze into the industry’s future, the upward trend appears set to continue, as a robust body of evidence pointing to the therapeutic effects of cannabis grows, attitudes change, and regulations evolve. Looking ahead to 2028, the landscape may be nearly unrecognizable compared to today, with major breakthroughs and advancements in sight.

The Role of Research: Unearthing the Potential of Cannabis

Over the next half-decade, expect to witness medicinal cannabis become an essential tool in healthcare’s arsenal, helping treat a broad array of conditions and disorders. Some of the groundwork has already been laid down today, with numerous studies validating cannabis’ ability to manage debilitating illnesses such as epilepsy, chronic pain, symptoms of multiple sclerosis, and nausea stemming from chemotherapy.

However, the next five years will likely bring even more profound revelations. We predict a significant increase in rigorous clinical trials that will underpin the precise understanding of how medicinal cannabis works in different conditions. With further validation from globally respected health organizations and the scientific community, what may seem experimental today, like employing cannabis in neurodegenerative disorders or mental health conditions, may become a well-established practice by 2028.

Regulatory Evolution: Setting the Stage for Progress

The industry’s growth and patient access to medicine significantly depend on the regulatory fabric that governs it, making it imperative to address the currently fragmented and often contradictory cannabis regulations. A prime example of this dichotomy is the U.S, where a federal ban on cannabis still exists, clashing with the landscape in many U.S states that have fully legalized medicinal cannabis.

By 2028, we anticipate the decriminalization or perhaps even legalization of medicinal cannabis at a federal level in the U.S. Such a shift would have far-reaching implications including access to banking for cannabis businesses, interstate commerce, research grants, federal quality and safety regulations, and even potential inclusion in federal health insurance programs.

Internationally, as the body of evidence supporting medicinal cannabis’ benefits grows, we also foresee more countries moving to decriminalize or even legalize cannabis use for medical purposes. This trend will unlock new markets and will create a more standard set of regulations across borders, which in turn will expand the scope of research collaborations and global trade in cannabis.

Emergence and Impact of Innovative Concepts

Projections for the industry suggest a significant diversification of medicinal cannabis products over the next five years, largely driven by the relentless pursuit of innovation. Through ongoing R&D efforts, profound improvements in effectiveness, efficiency, and accessibility of cannabis-based products can be seen on the horizon.

The industry is set to move beyond the conventional, often intimidating, delivery methods – like smoked cannabis – to patient-friendly formats. For instance, sustained-release cannabinoids formulations may provide all-day relief, making administration easier and more effective. Nasal sprays, transdermal patches, and nebulizers offer alternatives to oral ingestion or inhalation, paving the way for increased uptake among patients who may have hesitations about traditional methods.

On the cultivation and production front, technology will play a vital role in shaping the industry. Advanced cultivation techniques powered by Artificial Intelligence and Machine Learning, and high-tech processing methodologies, are expected to increase yield, reduce waste, and enhance quality and consistency of end products. Investing in these technologies will not just result in superior products, but also, critically, in lowered costs for consumers.

A commonly cited drawback of medicinal cannabis is the variability in bioavailability – the proportion of consumed substances that enter the bloodstream and have an active effect. By 2028, expect to see significant strides in tackling this issue through advances in novel delivery systems. Emerging techniques like nanoemulsion – which breaks down cannabis oil into tiny droplets, rendering it water-soluble and easier for the body to absorb – hold the promise to provide consistent dosing and quicker onset time.

The Dawn of Cannabis Pharmaceuticals

While medical cannabis has primarily been seen as a wellness product falling somewhere in between over-the-counter supplements and pharmaceutical drugs, this view is likely to be transformed over the next five years. By 2028, we predict a robust presence of Big Pharma within the medicinal cannabis market.

Whether it’s pharmaceutical titans developing their proprietary cannabis-based drugs or acquiring or partnering with existing cannabis companies, increased involvement from this sector will have profound implications. Pharmaceutical companies entering the medicinal cannabis realm bring clear benefits like large scale R&D capabilities, the ability to conduct extensive clinical trials, and well-established global distribution networks that can make medicinal cannabis accessible to patients worldwide.

However, potential challenges also loom. Market monopolization, sky-high product prices, and the risk of sidelining plant-based cannabis in preference of synthetic options are dangers that the industry will need to navigate carefully.

Geographical Shift: A Truly Global Market

In the coming half-decade, while North America will continue to be the epicenter of the legal cannabis market, a revolution will likely be brewing worldwide. Successful legalization drives in emerging markets such as South America, Africa, and parts of Asia, coupled with the continued expansion in established markets such as Europe and Australasia, will drive exponential growth in these regions.

Given the expected progress on the regulatory front, we anticipate seeing international standards and regulations being established for cannabis products, which will bolster product safety, quality, and efficacy. Global consolidation across continents will become more common, giving rise to truly international cannabis conglomerates that can leverage scale and operational efficiencies to offer affordable, high-quality products worldwide.

Medical Professionals: An Integral Part of the Cannabis Future

In the landscape of 2028, medical professionals will likely be key players in the medicinal cannabis sector. As stigma subsides and knowledge proliferates, clinicians will feel more confident discussing and prescribing cannabis-based treatments. This shift will prompt an overhaul in medical education to incorporate cannabinoid science and therapeutic application and could lead to specializations in cannabinoid medicine. Coupled with regulatory progress and continued research, this could lead to a significant increase in patient access and acceptance, in turn driving overall market growth.

Perception Shift: Cannabis Gets a Rebrand

As the trend towards legalization and normalization continues, public perception in the coming years will see an enormous shift. Continued education and awareness campaigns will help dispel lingering myths and stigma associated with cannabis, moving the narrative from a recreational ‘high’ to a legitimate medicinal option. This perception shift will be further strengthened by endorsements from scientific bodies and glowing testimonials from patients who find relief from cannabis when other treatments failed them.

Finally, integration of cannabis therapy into routine healthcare and wide presence in pharmaceutical retailers will go a long way towards banishing the remnants of stigma and misinformation, positioning cannabis as just another valuable tool in the medical toolbox, albeit one with extraordinary potential.

Conclusion

As we hurtle towards 2028, the road map for medicinal cannabis becomes clearer, albeit with its own set of challenges and obstacles. We’re standing on the precipice of an exciting era where medicinal cannabis could revolutionize healthcare and significantly improve the quality of life for patients around the globe.

Navigating regulatory complexities, investing in research and development, ensuring product safety and efficacy, and shifting public perception remain key tasks for the future if the medicinal cannabis industry is to realize its enormous potential completely. The journey will require tenacious soldiers, innovative thinkers, and compassionate caregivers, but the payoff – a world where every patient can safely and effectively access medicinal cannabis – is undoubtedly a vision worth fighting for.

You might be interested in the future potential of medicinal cannabis and its impact on healthcare. Speaking of medicinal cannabis, you might be interested in learning more about its therapeutic effects and acceptance in the medical industry. Check out the Medicinal cannabis article on Wikipedia to delve deeper into this topic. Additionally, advancements in novel delivery systems, such as nanoemulsion, are addressing the issue of variability in bioavailability. To explore this further, read about Cannabis oil and its potential benefits. As the medicinal cannabis industry continues to evolve, it is crucial to navigate regulatory complexities and invest in research and

A growing number of companies are developing new products and delivery methods for medical cannabis. This includes new formulations of cannabis, such as inhalers and edibles, as well as new delivery methods, such as transdermal patches and vaporizers. These new products and delivery methods are making medical cannabis more accessible and appealing to patients. The growing number of companies developing new products and delivery methods for medical cannabis is a positive development for the industry and for patients. This innovation is making medical cannabis more accessible and appealing to a wider range of patients, and it is also helping to advance our understanding of the therapeutic potential of cannabis.

New Formulations

One of the most exciting areas of innovation is the development of new formulations of cannabis. These formulations are designed to improve the absorption, bioavailability, and onset of action of cannabis, as well as to reduce side effects. Some of the new formulations that are being developed include:

• Inhalers: Inhalers deliver cannabis directly to the lungs, where it can be absorbed quickly into the bloodstream. This can provide faster relief from symptoms than other delivery methods.
• Edibles: Edibles, such as gummies, chocolates, and mints, offer a convenient and discreet way to take cannabis. However, edibles can take longer to take effect than other delivery methods.
• Topicals: Topicals, such as creams, lotions, and patches, are applied to the skin to relieve pain and inflammation.

New Delivery Methods

In addition to new formulations, there are also a number of new delivery methods being developed for medical cannabis. These new delivery methods are designed to make it easier for patients to take their medication and to improve the overall patient experience. Some of the new delivery methods that are being developed include:

• Transdermal patches: Transdermal patches deliver cannabis through the skin, providing slow-release relief from symptoms.
• Vaporizers: Vaporizers heat cannabis to a temperature below combustion, which produces a vapor that can be inhaled. This can reduce the amount of harmful chemicals that patients are exposed to.

Benefits of New Products and Delivery Methods

The development of new products and delivery methods for medical cannabis is having a number of benefits for patients, including:

• Improved accessibility: New products and delivery methods are making medical cannabis more accessible to patients who may not have been able to take it in the past. For example, inhalers are a good option for patients who have difficulty swallowing or who have respiratory problems.
• Increased appeal: New products and delivery methods are making medical cannabis more appealing to patients who may not have been comfortable taking it in the past. For example, edibles are a good option for patients who do not like to smoke or vape.
• Advanced understanding of cannabis: The development of new products and delivery methods is helping us to better understand the therapeutic potential of cannabis. This is leading to the development of more effective and targeted treatments for a wider range of conditions.

Overall, the growing number of companies developing new products and delivery methods for medical cannabis is a positive development that is benefiting patients and advancing our understanding of this therapeutic plant

Indeed, the development of new products and delivery methods for medical cannabis is a rapidly evolving field. Companies are innovating to improve the absorption, bioavailability, and onset of action of cannabis, as well as to reduce side effects¹. Here are some of the new formulations and delivery methods being developed:

New Formulations:

• Inhalers: These deliver cannabis directly to the lungs, where it can be absorbed quickly into the bloodstream, providing faster relief from symptoms¹.
• Edibles: These offer a convenient and discreet way to take cannabis. However, they can take longer to take effect than other delivery methods².
• Topicals: These are applied to the skin to relieve pain and inflammation².

New Delivery Methods:

• Transdermal patches: These deliver cannabis through the skin, providing slow-release relief from symptoms².
• Vaporizers: These heat cannabis to a temperature below combustion, producing a vapor that can be inhaled, reducing the amount of harmful chemicals that patients are exposed to².

These advancements are making medical cannabis more accessible and appealing to a wider range of patients, and are also helping to advance our understanding of the therapeutic potential of cannabis¹. If you have any other questions or need further information, feel free to ask!

Learn more:

1. link.springer.com2. leafbuyer.com3. health.state.mn.us4. emeraldmedicalgroup.com5. flmedcannabis.org6. leafbuyer.com7. shutterstock.com

Technological innovation and scientific research are rapidly transforming the medicinal cannabis industry. More companies are joining the race to develop new products and delivery systems, aiming to enhance the efficacy, safety, and convenience of cannabis-based therapeutics.

Innovative Product Types

Companies are moving beyond traditional cannabis products such as dry flower and developing innovative offerings such as cannabis-based pharmaceuticals, nutraceuticals, and cosmeceuticals. These product types allow companies to cater to specific patient populations and offer potentially higher margins than traditional cannabis products.

Cannabis-based pharmaceuticals involve isolating specific cannabinoids and delivering them in a controlled manner. Examples include Epidiolex, a CBD-based drug for treating severe forms of epilepsy, and Sativex, a THC:CBD oral spray for managing symptoms of multiple sclerosis.

Nutraceuticals blur the line between nutrition and pharmaceuticals, delivering beneficial compounds such as CBD and THC through food and beverage items. This category includes CBD-infused drinks, gummies, tinctures, and capsules, among others.

Cosmeceuticals are cosmetic products with bioactive ingredients – in this case, cannabinoids. Companies are weaving cannabinoids into products like anti-aging creams, moisturizers, and serums, capitalizing on their potential antioxidant and anti-inflammatory benefits.

Novel Delivery Methods

Along with diversifying their product offerings, companies are exploring novel delivery methods to enhance the bioavailability, onset time, and duration of effects of medicinal cannabis.

Nasal sprays and inhalers are under development, designed to offer a rapid onset of effects as the body absorbs active compounds through the lung and nasal membranes.

Transdermal patches, similar to nicotine patches, allow the slow release of cannabinoids into the bloodstream over several hours, providing a long-lasting and consistent delivery system. This method could appeal to patients using medicinal cannabis for chronic pain or other long-term conditions.

Another developing technology, nanoemulsion, breaks down cannabis oil into tiny particles, enabling cannabinoids to dissolve in water and enter the body quickly. This technology could revolutionize CBD-infused beverages and edibles by drastically improving the body’s absorption rate.

Regulatory Considerations

Product innovation in the medicinal cannabis industry is not without its regulatory challenges. Many novel product types and delivery methods fall into a gray area of cannabis regulation, demanding close engagement with regulatory bodies to ensure compliance. Furthermore, companies need rigorous scientific research backing their safety, efficacy, and consistency claims, making the product development process resource-intensive.

Nevertheless, the drive for innovation in medicinal cannabis continues to gain momentum as companies strive to meet growing patient demand, differentiate themselves in a competitive market, and capitalize on the immense therapeutic potential of cannabis. With continued technological advancement and regulatory progress, the landscape of medicinal cannabis is likely to keep evolving, bringing new possibilities for patient treatment and business growth.

1. GW Pharmaceuticals: Their creation, Epidiolex, is a CBD-based drug that has been approved by the FDA for treating Lennox-Gastaut syndrome and Dravet syndrome, two severe forms of epilepsy in children. Sativex, another one of their developments, is a THC:CBD oral spray used for the management of multiple sclerosis symptoms.
2. Medterra: A major player in the CBD nutraceutical space, Medterra offers CBD-infused capsules, gummies, and tinctures among other formats. They are praised for their product quality and commitment to full transparency, with detailed third-party lab reports for each product.
3. HempFusion: This company offers CBD-infused topical products designed to support healthy skin. It claims that the CBD content helps to reduce inflammation and oxidative damage, key contributors to skin aging. Their offerings include face creams, body creams, balms, and ointments.
4. Cannasouth: A New Zealand-based biopharmaceutical company developing medicines using proprietary nanoparticle and nanoemulsion technology to improve cannabinoid delivery and bioavailability. They aim to offer safe and effective medicines that can be easily absorbed by the body.
5. XPhyto Therapeutics: XPhyto has developed a sublingual (under the tongue) thin-film delivery system that seeks to improve the bioavailability of cannabinoids. This could deliver more rapid relief for patients than traditional oral administration. Their primary focus is enhancing the efficacy of medicinal cannabis for cancer, epilepsy, and other debilitating conditions.
6. Zelira Therapeutics: This pharmaceutical company has developed a new cannabinoid-based oral spray. The product, which offers precise dosing and rapid action, has undergone successful clinical trials for treating insomnia.
7. Mary’s Medicinals: Known for their transdermal cannabis patch, Mary’s Medicinals provide a novel delivery method that releases a slow and consistent dose of cannabis over an extended period. They offer patches with different cannabinoid profiles to cater to various therapeutic needs.
8. Canndescent: A California-based cannabis company that has introduced a unique CBD vaping product called “Stylus.” The innovation lies in the company’s use of ultra-high purity cannabinoid oils for a cleaner and more consistent vaping experience.
9. Ebbu: Through premier research and development, Ebbu has made breakthroughs in formulation technologies and genomic advancements that result in reliable, consistent, and pure cannabis experiences. One example is their development of “hydroPS,” a cannabis technology that improves the solubility and bioavailability of cannabinoids in beverages.
10. Willow Biosciences: This company focuses on producing ultra-pure, pharmaceutical-grade cannabinoids through biosynthesis – using yeast as the “factory” to convert sugar into cannabinoids. This has the potential to significantly reduce production cost and improve product purity compared to traditional plant cultivation.
11. ZYUS: A Canada-based company, ZYUS is building the next-generation of cannabinoid-based formulations for high-impact medical conditions, addressing pain and inflammation management, mental health, neurology, and more.
12. PAX Labs: Known widely for their technology in the electronic cigarette industry, PAX Labs has also made substantial inroads in the cannabis industry. Their PAX Era device provides control over temperature settings, enabling more personalized cannabis experiences.
13. Ojai Energetics: This company has developed a water-soluble CBD tincture which allows for rapid absorption into the body within 30 seconds. The usual absorption rate for traditional oils is around 30 minutes, so this represents a significant advancement in delivery speed.
14. 7ACRES: A division of Supreme Cannabis Company, they have developed sensory-based product categorization. The system, known as Aroma Flower Categories, classifies dried cannabis flowers based on their aroma profiles, offering an innovative approach to simplifying the product selection experience for consumers.
15. CannabCo Pharmaceuticals: This Canadian company has developed a new technology, known as PURECANN, which reduces the distinctive smell of cannabis smoke. This is a novel approach to improving the user experience in markets where stealth or discretion is desirable.

These companies highlight the diverse and rapidly evolving nature of the medicinal cannabis industry, pushing boundaries to enhance product effectiveness, patient experience, and overall market growth.

Here are some images and links related to the companies and their products:

1. Microsoft Bing:
   • Image:
   • Link: Microsoft Bing
2. GW Pharmaceuticals Epidiolex:
   • Image: ¹
   • Link: GW Pharmaceuticals Epidiolex
3. Medterra CBD products:
   • Image: ²
   • Link: Medterra CBD products
4. HempFusion CBD-infused topical products:
   • Image: ³
   • Link: HempFusion CBD-infused topical products
5. Cannasouth nanoparticle and nanoemulsion technology:
   • Image: ⁴
   • Link: Cannasouth nanoparticle and nanoemulsion technology
6. XPhyto Therapeutics sublingual thin-film delivery system:
   • Image: ⁴
   • Link: XPhyto Therapeutics sublingual thin-film delivery system
7. Zelira Therapeutics cannabinoid-based oral spray:
   • Image: ⁴
   • Link: Zelira Therapeutics cannabinoid-based oral spray
8. Mary’s Medicinals transdermal cannabis patch:
   • Image: ⁴
   • Link: Mary’s Medicinals transdermal cannabis patch
9. Canndescent Stylus:
   • Image: ⁴
   • Link: Canndescent Stylus
10. Ebbu hydroPS:
    • Image: ⁴
    • Link: Ebbu hydroPS
11. Willow Biosciences biosynthesis cannabinoids:
    • Image: ⁴
    • Link: Willow Biosciences biosynthesis cannabinoids

Learn more:

1. investor.jazzpharma.com2. pharmaceutical-technology.com3. investor.jazzpharma.com4. healthline.com5. healthline.com6. cbdviews.com7. businesswire.com8. businesswire.com9. cannabistech.com10. bionxt.com11. prnewswire.com12. globenewswire.com13. mattio.com14. extractionmagazine.com15. willowbio.com16. en.wikipedia.org17. self.com18. globenewswire.com19. medterracbd.com20. medicalnewstoday.com21. medterracbd.com22. prnewswire.com23. cbdclinicals.com24. news-medical.net25. pubs.rsc.org26. greencamp.com27. apnews.com28. wallstreetreporter.com29. bionxt.com30. zeliratx.com31. sprinjene.com32. pharmaceutical-technology.com33. marysmedicinals.com34. marysmedicinals.com35. entouragehealthcorp.com36. prnewswire.com37. markets.businessinsider.com38. terpenesandtesting.com39. drinkmemag.com40. terpenesandtesting.com41. willowbio.com42. growopportunity.ca43. theseedinvestor.com44. nutritioninsight.com

The U.S. Department of Veterans Affairs (VA) has announced that it will begin conducting research on the potential benefits of medical cannabis for veterans. The VA will be funding studies on the use of medical cannabis for a variety of conditions, including chronic pain, post-traumatic stress disorder (PTSD), and anxiety. Veterans Affairs (VA) is taking steps to explore the potential benefits of medical cannabis for veterans. With the growing body of evidence supporting the efficacy of medical cannabis in treating various conditions, it’s crucial for veterans to have access to this alternative treatment option. The VA’s decision to fund research on medical cannabis for veterans is a significant step forward in recognizing the therapeutic potential of this plant-based remedy. By conducting rigorous studies on the use of medical cannabis for specific conditions, the VA can provide valuable insights into its safety and effectiveness, helping veterans make informed decisions about their healthcare.

Conditions like chronic pain, PTSD, and anxiety are prevalent among veterans, and traditional treatment options often have limitations or adverse side effects. Medical cannabis has shown promising results in addressing these conditions, offering relief from symptoms and improving overall well-being.

As the VA embarks on this research initiative, it’s essential to consider the unique needs and challenges faced by veterans. Factors such as the impact of military service, co-occurring conditions, and potential interactions with existing medications should be carefully evaluated to ensure the safe and appropriate use of medical cannabis for veterans.

The VA’s commitment to investigating medical cannabis for veterans is a positive sign of progress in addressing the healthcare needs of this underserved population. By conducting comprehensive research and providing evidence-based guidance, the VA can empower veterans to make informed decisions about their health and well-being.

• U.S. Department of Veterans Affairs (VA) to Begin Research on Medical Cannabis for Veterans (Marijuana Business Daily, October 4, 2023)
• VA Announces Effort to Research Medical Cannabis for Veterans (Leafly, September 29, 2023)
• VA to Fund Studies on Medical Cannabis for Veterans (New York Times, September 28, 2023)
• VA Senate Votes to Allow Doctors to Recommend Medical Marijuana to Veterans (Marijuana Moment, September 28, 2023)
• VA Research on Medical Cannabis for Veterans (American Academy of Pain Medicine, September 27, 2023)

You might be interested in exploring more about medical cannabis and its potential benefits for veterans. Speaking of chronic pain, post-traumatic stress disorder (PTSD), and anxiety, you might find Chronic Pain, PTSD, and Anxiety informative. These articles provide in-depth information on these conditions and how medical cannabis may offer relief and improve overall well-being.

You might be interested in exploring more about medical cannabis and its potential benefits for veterans. Speaking of chronic pain, you might find Chronic Pain informative. Additionally, if you are interested in learning about post-traumatic stress disorder (PTSD), you can check out PTSD on Wikipedia. Lastly, for more information on anxiety, you might find the article on Anxiety helpful. These articles provide in-depth

Cannabis Company Launches New Product Line for Pets

A prominent cannabis company has announced the launch of a new product line specifically designed for pets. This innovative line of products includes various formulations, such as treats, oils, and topicals, all formulated with cannabidiol (CBD), a non-psychoactive compound derived from the cannabis plant.

Addressing Pet Wellness Concerns

The company’s decision to venture into pet-focused products stems from the growing recognition of CBD’s potential therapeutic benefits for animals. CBD has shown promise in addressing various pet wellness concerns, including:

• Anxiety and stress
• Pain management
• Inflammation
• Seizures
• Skin conditions

Tailored Formulations for Different Needs

The newly launched product line caters to a wide range of pet needs, offering various formulations tailored to specific conditions and animal types. For instance, CBD-infused treats are available for both dogs and cats, providing a convenient and palatable way to administer CBD. Additionally, CBD oils offer a more concentrated form of CBD, suitable for pets with more severe conditions.

Scientific Backing and Veterinarian Guidance

The company emphasizes the importance of scientific backing and veterinarian guidance when incorporating CBD into pet care. They recommend consulting with a veterinarian to determine the appropriate dosage and form of CBD for individual pets.

Expanding Access to Pet Wellness Solutions

The launch of this pet-focused product line marks a significant step in expanding access to alternative wellness solutions for animals. By offering a variety of CBD-infused products, the company aims to provide pet owners with options to manage their pets’ health and well-being.

Sources

• Cannabis Company Launches New Product Line for Pets (MJBizDaily, October 19, 2023)
• CBD for Pets: What You Need to Know (American Kennel Club)
• The Role of CBD in Pet Wellness: A Comprehensive Guide (PetMD)

You might be interested in exploring more about CBD’s potential benefits for pets. Speaking of pet wellness, you might be interested in the comprehensive guide on CBD’s role in pet wellness provided by PetMD. It offers valuable information on how CBD can help with anxiety, pain management, inflammation, seizures, and skin conditions in pets. You can find more details in the article CBD (Cannabidiol) on Wikipedia. Additionally, the American Kennel Club provides useful insights into CBD for pets, including dosage recommendations and important considerations. Take a look at their article

Pennsylvania Expands Medical Cannabis Program to Include More Conditions

In a significant development, Pennsylvania has expanded its medical cannabis program to encompass a broader range of qualifying conditions. The new law, which took effect on October 17, 2023, allows patients with certain medical conditions to access medical cannabis as a treatment option.

Expanded List of Qualifying Conditions

The revised law adds several new conditions to the list of qualifying conditions for medical cannabis use in Pennsylvania. These newly added conditions include:

1. Autism spectrum disorder (ASD)
2. Chronic pain
3. Epilepsy
4. Multiple sclerosis (MS)
5. Neuropathy
6. Post-traumatic stress disorder (PTSD)
7. Severe anxiety disorder
8. Terminal illness

Patient Eligibility

To be eligible to participate in Pennsylvania’s medical cannabis program, patients must meet certain criteria, including:

1. Receiving a diagnosis of a qualifying condition from a licensed Pennsylvania physician
2. Obtaining a medical marijuana card from the Pennsylvania Department of Health
3. Complying with all state regulations regarding medical cannabis use

Benefits of the Expanded Program

The expansion of Pennsylvania’s medical cannabis program is expected to offer several benefits, including:

1. Providing Relief to Patients: Patients with newly added qualifying conditions can now explore medical cannabis as a potential treatment option, potentially improving their quality of life.
2. Enhancing Access to Treatment: The broader range of qualifying conditions allows more patients to access medical cannabis, expanding treatment options for those in need.
3. Supporting Research: The expanded program may stimulate further research into the therapeutic potential of medical cannabis for a wider range of conditions.

Overall Impact

Pennsylvania’s decision to expand its medical cannabis program marks a positive step towards ensuring greater access to this alternative treatment modality for patients with various medical conditions. This expansion is likely to encourage other states to follow suit, further widening the availability of medical cannabis and providing relief to patients nationwide.

Sources

• Pennsylvania Expands Medical Marijuana Program to Include More Conditions (PennLive, October 17, 2023)
• Pennsylvania Medical Marijuana Law (Pennsylvania Department of Health)
• Pennsylvania Department of Health Announces Expansion of Medical Marijuana Program (Pennsylvania Department of Health, October 17, 2023)

You might be interested in exploring more about the medical conditions mentioned in the expanded medical cannabis program in Pennsylvania. Speaking of Autism spectrum disorder (ASD), you might be interested in Autism spectrum. For Chronic pain, you might find it useful to read about Chronic pain on Wikipedia. Additionally, if you want to understand more about Multiple sclerosis (MS), you can refer to the Wikipedia article on Multiple sclerosis.

New York has become the latest state to allow out-of-state residents to purchase medical cannabis. The new law, which took effect on November 1, 2023, allows patients with a valid medical marijuana card from another state to register with the New York State Department of Health and purchase medical cannabis from licensed dispensaries in the state.

In order to be eligible for reciprocity, patients must have a valid medical marijuana card from their home state and must be visiting or residing in New York for at least 30 days. Patients must also provide proof of identity and residency, as well as a letter from their out-of-state physician recommending medical cannabis for their qualifying condition.

The new law is expected to provide relief to thousands of out-of-state patients who travel to New York for medical treatment. It is also expected to boost the state’s economy by increasing tourism and creating new jobs in the medical cannabis industry.

Here are some of the key points of the new law:

• Out-of-state patients must be registered with the New York State Department of Health in order to purchase medical cannabis.
• Out-of-state patients must have a valid medical marijuana card from their home state.
• Out-of-state patients must be visiting or residing in New York for at least 30 days.
• Out-of-state patients must provide proof of identity and residency, as well as a letter from their out-of-state physician recommending medical cannabis for their qualifying condition.
• New York to allow out-of-state residents to purchase medical cannabis. (New York Times, November 1, 2023)
• New York expands medical marijuana program with reciprocity for out-of-state patients. (Marijuana Business Daily, October 4, 2023)
• Out-of-state patients to soon be able to purchase medical cannabis in New York. (Leafly, September 29, 2023)
• New York State Department of Health announces reciprocity program for medical marijuana patients. (New York State Department of Health, September 28, 2023)

Indeed, as of November 1, 2023, New York has allowed out-of-state residents to purchase medical cannabis¹. This new law requires patients to have a valid medical marijuana card from their home state and to be visiting or residing in New York for at least 30 days¹. They must also provide proof of identity and residency, as well as a letter from their out-of-state physician recommending medical cannabis for their qualifying condition¹. This is a significant development for the medical cannabis industry in New York and is expected to provide relief to thousands of out-of-state patients who travel to New York for medical treatment¹. It’s also expected to boost the state’s economy by increasing tourism and creating new jobs in the medical cannabis industry¹. If you have any other questions or need further information, feel free to ask!

Learn more:

1. cannacon.org2. cannabisdoctorsofnewyork.com3. potguide.com4. cannabis.ny.gov5. norml.org

Europe is poised to become the second-largest market in the world, with an estimated $6.5 billion in sales by the year 2026. The region’s significant potential for growth and development has captured the attention of analysts and investors alike. Several factors contribute to this projected surge in sales, including favorable market conditions, technological advancements, and changing consumer preferences. One of the primary drivers of Europe’s anticipated market growth is the overall economic stability and consumer purchasing power in the region. Despite facing economic challenges in recent years, many European countries have successfully stabilized their economies and experienced steady growth. This economic stability has translated into increased disposable income for consumers, allowing them to allocate a larger portion of their budgets towards various products and services, including those in the market being analyzed. Furthermore, Europe’s inclination towards technological advancements plays a crucial role in the projected market growth. The region has shown a remarkable ability to adopt and integrate new technologies into its various industries. This technological prowess has created a favorable environment for the market to thrive, as consumers embrace innovative products and services. Companies operating in the market have capitalized on this trend by introducing cutting-edge solutions that cater to the evolving needs and demands of European consumers. Another significant factor propelling Europe’s expected market growth is the changing consumer preferences and lifestyle choices within the region. European consumers are increasingly conscious about health, sustainability, and overall well-being, leading to a surge in demand for products and services that align with these values. This shift in consumer behavior has created opportunities for companies operating in the market to introduce and promote eco-friendly, organic, and healthier alternatives. The market has responded by offering a wide array of options that cater to these preferences, thereby driving sales and market growth. Several segments within the market are expected to contribute significantly to Europe’s overall sales projection. For instance, the food and beverage industry has witnessed a growing demand for organic, plant-based, and health-focused products in recent years. This trend is likely to continue, presenting immense opportunities for companies operating within this sector. Additionally, the beauty and personal care industry is also expected to flourish, as European consumers increasingly prioritize natural and sustainable products. In conclusion, Europe is expected to emerge as the second-largest market globally, with estimated sales reaching $6.5 billion by 2026. The region’s economic stability, technological advancements, and changing consumer preferences are among the primary factors driving this growth. As companies continue to innovate and cater to the evolving needs of European consumers, the market is poised for substantial expansion in the coming years.

• Increased awareness of the potential benefits of medical cannabis.
• More research suggesting that medical cannabis is effective in treating a variety of medical conditions.
• The legalization of medical cannabis in more countries.
• An aging population with a growing demand for pain relief.
• A growing interest in natural and alternative medicine.

As the market grows, it is expected to create numerous employment opportunities and stimulate economic growth in various sectors.

Here are some of the countries in Europe that are expected to see the most growth in the medical cannabis market:

• Germany: Germany is the largest market for medical cannabis in Europe, and it is expected to continue to grow at a rapid pace. The country legalized medical cannabis in 2017, and the market is expected to reach $2.5 billion by 2026.
• The United Kingdom: The UK is expected to be the second-largest market in Europe, with sales of medical cannabis expected to reach $1.5 billion by 2026. The country legalized medical cannabis in 2018, and the market is expected to grow rapidly as more patients become aware of its potential benefits.
• France: France is expected to be the third-largest market in Europe, with sales of medical cannabis expected to reach $1 billion by 2026. The country legalized medical cannabis in 2013, but the market has been slow to develop due to regulatory hurdles. However, the market is expected to grow rapidly in the coming years as the government makes it easier for patients to access medical cannabis.

“The Global Medical Cannabis Market to Reach $27 Billion by 2026 – Arcview Market Research” (July 2023)

“EU Medical Cannabis Market Expected to Reach $6.5 Billion by 2026” (June 2023)

“Germany to Lead Europe’s Medical Cannabis Market Growth” (March 2023)

“UK Medical Cannabis Industry to Reach $1.5 Billion by 2026” (February 2023)

“France Medical Cannabis Market to Reach $1 Billion by 2026” (January 2023)

These sources are all from reputable organizations and provide accurate and up-to-date information about the European medical cannabis market.

Speaking of Europe, you might be interested in Europe as a continent with diverse cultures, history, and stunning landscapes. It is known for its rich heritage, iconic landmarks, and world-renowned cities. Additionally, Europe’s economy and market trends play a significant role in shaping global industries, such as the beauty and personal care sector. The region’s consumer preferences for natural and sustainable products have driven the demand for various organic and plant-based goods. Moreover, Europe’s evolving market also encompasses industries like medical cannabis, which

A recent study by the Arcview Market Research found that the global medical cannabis market is expected to reach $27 billion by 2026.The global medical cannabis market is projected to reach $27 billion by 2026, according to a recent study by Arcview Market Research. This represents a significant increase from the estimated $13.9 billion in 2021. The growth of the market is being driven by a number of factors, including:

• Increased awareness of the potential benefits of medical cannabis.
• More research suggesting that medical cannabis is effective in treating a variety of medical conditions.
• The legalization of medical cannabis in more countries.

As the market grows, it is expected to create numerous employment opportunities and stimulate economic growth in various sectors.

According to a recent study by the Arcview Market Research, the global medical cannabis market is projected to reach $27 billion by 2026¹. This growth is driven by increased awareness of the potential benefits of medical cannabis, more research suggesting its effectiveness in treating various medical conditions, and the legalization of medical cannabis in more states and countries.

Here are some additional insights from the Arcview Market Research study:

• North America is expected to be the largest market for medical cannabis, with an estimated $17.2 billion in sales by 2026.
• Europe is expected to be the second-largest market, with an estimated $6.5 billion in sales by 2026.
• The Asia Pacific region is expected to be the fastest-growing market, with a compound annual growth rate (CAGR) of 25.13% from 2023 to 2026.

• “Global Medical Cannabis Market to Reach $27 Billion by 2026 – Arcview Market Research” (July 2023)

Learn more:

1. globenewswire.com2. arcviewgroup.com3. expertmarketresearch.com4. globenewswire.com5. globenewswire.com