According to industry analysts at Grand View Research, the Global Medical Marijuana market is expected to reach $55.8 billion (USD) by the year 2025! Driven by the adoption of medical marijuana laws in countries such as the U.S. (28 states and counting), Canada, Mexico, Israel and Germany, cannabis is gaining acceptance around the world as an effective and safe medicine.
Chronic Pain, Nausea and Epilepsy
Chief among its medical applications is its ability to treat intractable forms of epilepsy (Dravet Syndrome, Lennox Gastaut syndrome, etc.), ameliorate chronic pain without opioids, and as an adjunct to reduce the side-effects of chemotherapy.
Epidiolex, a CBD based drug, is currently completing Phase III FDA trials as an effective treatment for severe epilepsy. Syndros, a anti-nausea cannabinoid synthetic, recently won FDA approval for the treatment of anorexia and nausea associated with AIDS and cancer chemotherapy.
Clinical researchers are also investigating the role marijuana might play in treating severe neurodegenerative disorders such as Alzheimer’s Disease, Parkinson’s Disease, Multiple Sclerosis and Dementia.
Which Countries are likely to lead the Global Marijuana Marketplace?
Those countries currently leading the advancement of medical marijuana research, namely the U.S., Canada and Israel, are also the countries that are most likely to dominate the emerging global marketplace. Germany is a relative late entrant into medical marijuana, but given its economic strength and industrial/pharmaceutical infrastructure – it may very well emerge as one of the marijuana industry leaders.