The U.S. medical marijuana market presents a $33 billion opportunity for GCAC
litescience 2021-09-26
Market Research Future, a market research company, recently released a report that may be enough to dispel the concerns of investors who have doubts about the growth potential of the US medical marijuana market. The report predicts that the global medical marijuana market is expected to grow at a compound annual growth rate of 18.4%, reaching more than $33 billion by 2027.
Cannabis, as an alternative therapy for a series of diseases, may have only been accepted by the regulatory authorities and the general public in recent years, but in fact the medicinal value of cannabis has been recognized hundreds of years ago. For centuries, ancient India, China, Egypt and Islamic civilizations have used it as a medicine. Today, marijuana is used to help treat and relieve symptoms related to cancer, chronic pain, depression, migraine, epilepsy, and Alzheimer’s.
To date, marijuana has been approved for medical use in more than 20 countries and 36 states in the United States. As the legislative work progresses rapidly, more states in the United States are opening up the therapeutic use of marijuana.