Medical Marijuana Market Huge and Growing, Investors Report Finds

Submitted by Phillip Smith on Thu, 03/24/2011 - 3:54pm (Issue #677)

Drug War Issues

The size of the US medical marijuana market is $1.7 billion, and that figure is likely to increase in coming years, according to a new report from See Change Strategy LLC, an independent financial firm. An executive summary of the report, The State of the Medical Marijuana Markets 2011, is available at MedicalMarijuanaMarkets.com.

The medical marijuana business: a growth industry. (Image via Wikimedia.org)

"Hundreds of businesses exist around the country that cultivate and sell marijuana to customers," said report author Ted Rose in a statement. "Many of these businesses emerged in the wake of the Obama administration's decision to deprioritize federal prosecutions of individuals and business complying with state medical marijuana laws. The State of the Medical Marijuana Markets 2011 shows which states represent the most active markets, who is making money, and how are they doing it."

Although 15 states and the District of Columbia have medical marijuana laws, sales of medical marijuana through retail outlets are currently legal in only seven of them (and only arguably legal in some of those). But four more states and DC are expected to begin medical marijuana sales this year, the report said. Between expansion of the number of locales where medical marijuana is sold, increases in the number of patients taking advantage of medical marijuana laws, and increasing regulatory clarity, the market is set for further growth, Rose said.

"We predict that the current markets will double in the next five years," he said in a Wednesday conference call. He estimated that the size of the medical market will reach $8.9 billion by 2016.

The report found that one in four Americans live in medical marijuana states and that nearly 25 million could currently qualify as medical marijuana patients. Only about 730,000 are currently doing so.

In a sign of a maturing industry, Rose said medical marijuana business operators were more worried about regulations and obtaining financing then they were about competition or getting busted. He said that 90% of operators saw medical marijuana as a growth industry.

The study was conducted over the course of eight months and consisted of surveys and interviews with about 300 businesses in the medical marijuana industry.

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This work by StoptheDrugWar.org is licensed under Creative Commons Attribution-ShareAlike 4.0 International

Comments

marry jane (not verified)

Proof

The proof is in the brownies!

Fri, 03/25/2011 - 2:27am Permalink

Davesnot Here (not verified)

Help help, I'm being repressed over here!

As much as I love living in Alabama, there is a major drawback: I can't legally smoke weed. And this pisses me off. Most days I read Google Marijuana News and there are almost always stories of the cops confiscating marijuana right here in Alabama.

That means that:
1. I must be very careful out there. The cops want to bust marijuana users.
2. There is less weed on the street, making prices higher.
3. It's harder to trust other smokers; who is a narc, is this guy trying to buy from or sell to me cool?
and finally, and this is the most important part:
4. The founding fathers acknowledged in the United States Declaration of Independence that all men have certain "Unalienable Rights", including Life, Liberty and the Pursuit of Happiness.
I'm being repressed over here! Can I get some help?

America has been sold a bill of goods on Marijuana. Alcohol is continually being pushed in our culture, see the dumbass Miller Lite commercials for example (if I don't drink Miller Lite, I must be a stupid (White Male) that is completely clueless). Marijuana users by contrast are portrayed as stupid, inarticulate morons and America believes this! This is bullshit -- we must fight back!

Your suggestions and thoughts are welcome.

http://partyseeking.blogspot.com/2011/03/help-help-im-being-repressed-over-here.html

Sat, 03/26/2011 - 10:54am Permalink

Greg Borden (not verified)

Get us out of debt and out of bed with prescription drugs

I am a huge fan in the legalization of POT. Think about it. When was the last time you have herd of a person overdosing from Marijuana? There are more alcohol and prescription related deaths each year then I can even imagine. Not only the deaths are bad but, the physical addiction of alcohol and prescription drugs is just as bad. I personally have had many back surgeries and know what constant pain is all about. Prescription drugs are meant for people like me but the physical side affects are horrible. One night tired of pain, I did some research on alternative medications. MARIJUANA!!! It was the answer. I was no longer on a dog leash with my doctor. It is an amazing medicine for pain relief, and people with anxiety. Instead of pills that destroy your body I found the cure that worked, and it is straight from the earth.

I think that Pot is the answer. Not just for people anxiety or pain problems like me but for everyone else nation wide. Our country has been in its worse debt crisis in our nations history, and Marijuana is the answer. I'm not saying that everyone should use this drug, but with proper government regulations we can be a better self sufficient country. The profit margin that Marijuana has is amazing.

I know IM just ranting but think about it. How many people have you herd of committing crimes because of Marijuana. I know a guy I used to work with that was injured at work and was prescribed Vicodine. After his body was physically addicted he couldn't get enough. His doctors visits became more and more often, he would run out and turn to buying pills on the street. Because the prices were so high for him to get his fix he turned to the next best thing, Heroine. Cheaper and a bigger bang. He quickly went into a downward spiral. He was recently arrested for robbing a bank in order to feed his habit. The scary thing is this is happening all over the country, and it all starts with these horrible prescription drugs. I may be ranting but think about it.

Thu, 03/31/2011 - 2:29am Permalink

Frank 420 Dank (not verified)

Medical Marijuana as a Tradeable Commodity

Frank Dank 420

As an industry medical marijuana has to unify and begin to compete against the traditional vice industries of alcohol and tobacco. I agree as we promote the medical marijuana alternative, there market base has to grow. It will grow because the following generations will have a tendency to prefer medical marijuana.

In the years that I have been promoting medical marijuana I have noticed that at the same time I promote various subcultures that approve of medical marijuana. The subcultures of hip hop/rap, surfing, skateboarding, rasta, reggae, hippy, electronic music, cannabis culture, these are all expanding the influence of marijuana use over entire populations. As a medical marijuana producer and broker, I want to see marijuana legalized everywhere around the world.

There are growers such as myself that are working very diligently to make medical marijuana into a tradeable commodity, available to the masses, as opposed to a scarce luxury available to only a few.

The blessings and steady social progress that we´re currently seeing in marijuana law reform are the fruits of all the effort and sacrifices made by those who have gone before us. Jack Herer, Marc Emery, Keith Stroup and Tom Forcade.

What was taboo in the past is now in a transition towards social acceptance, even the older generations have come to the realization that without this political stability is not possible.

The trend has enough momentum that´s it´s unstoppable, internationally Marijuana Reform is way over due. The US may well fall behind other countries that will shortly pass legislation.

Marijuana isn´t for everyone, it´s for those that like it. If you believe that it´s for you then you´re with me. I know what life without weed is like, and I´ll tell you I don´t want that to ever happen again. As medical marijuana consumers we have to know that what we´re doing is right, and that´s the end of that argument.

Medical Marijuana is an issue that is repeating history in social progress, it can go one of two ways, either the abolition of slavery or the civil rights movement. This will depend on how the public anger and rage are channelled, if consensus can be reached within a civil framework, and if not, we will prevail despite the obstacles, total victory at all cost.

This article only refers to the US markets, however if you look at the trends internationally, people are smoking weed everywhere from UK, Ireland, Russia, France, United Arab Emirates, New Zealand, Australia, etc... There are customers for medical marijuana even in the poorest of countries, not just in the industrialized nations. Not to mention that tourism creates new markets demanding medical marijuana where none previously existed.

If you´re interested in solutions to increase your medical marijuana sales, feel free to contact me.

Working to transform medical marijuana into a tradeable commodity, accesible to all, no longer a scarce luxury item.

Search Google, Youtube or Facebook for "Frank Dank 420"

it´s an established brand name, contact me through my email or the contact form on my website, on terapad.

Legalize It Everywhere

Frank

Frank Dank 420

Thu, 03/31/2011 - 5:31pm Permalink

Chaz (not verified)

Wow!

man too razy

Mon, 04/04/2011 - 10:50am Permalink

andyz7@yahoo.com (not verified)