Cannabis Industry

The legal cannabis market is one of the fastest growing in the world. Sales of legalized medical and recreational cannabis in North America reached $6.7 billion in 2016 and are projected to grow in excess of $22 billion by 2021*. Once federally legalized, the U.S. industry market size has been estimated to reach $50 billion annually and will include more than 35 million consumers. These estimates do not include the international market potential, the future pharmaceutical industry, and the related hemp industry sectors.

*Source: ArcView Market Research Report 2017

Cannabis Legislation

In the 30 U.S. states where cannabis is legal for medical use, potential cannabinoid-based therapeutic applications have been identified for more than 40 medical conditions, including arthritis, cancer, chronic pain, epilepsy, glaucoma and HIV/AIDS. Although hundreds of medical cannabis studies have been conducted in recent decades, state and federal regulatory restrictions have limited hospitals, university medical programs and independent researchers in their ability to conduct true clinical trials. This is rapidly changing. U.S. medical institutions are aggressively moving to compete with active medical cannabis research environments in countries such as Israel and the U.K.

Map of the legal states
rec

Recreational use allowed
Allowed volume of possession and growing vary by state

potential rec

Potential recreational use

med

Medical use only
Possession and growing may require registration

planned med

Planned medical use

CBD

High CBD only
High CBD oil usually for treating seizure disorders

no weed

No recreational or medical use allowed

  • 30 states and Washington, DC that legalized medical marijuana account for over 60% of the U.S. population
  • An additional 15 states allow limited use of CBD oil for treatment of specified conditions

Industry Overview

  • In the U.S. there are approximately 1.25 million medical cannabis patients registered within their respective states

  • An additional 15 states have enacted CBD laws

  • 30 states and the District of Columbia have passed medical cannabis laws – of these AK, CA, CO, MA, ME, NV, OR and WA allow adult recreational use, as does Washington, DC

  • U.S. medical cannabis efficacy research is mounting, particularly in the areas of epilepsy, cancer, pain management, PTSD and substance abuse
  • In excess of 60% of the U.S. population lives in a state that has enacted a medical cannabis law
  • Currently, more than 60 U.S. and international health organizations support granting patients immediate legal access to medicinal marijuana under a physician’s supervision