Nevada was an early adopter of medical cannabis, passing a constitutional amendment in 2001. In the years since, the state has passed adult use legislation, launching America’s fifth recreational market in July 2017.
The state, which has 3.1 million people, saw medical sales of $89 million in 2018, according to data from BDS Analytics and Arcview Market Research.
Adult use generated $478 million in the same period. By 2024, medical sales are expected to decline to $50 million annually, while recreational jumps to $1.4 billion.
The forecasted figures represent the downward trend that occurs in most adult use markets. However, Nevada has bucked the trend of declining medical enrollment numbers, seeing its active patient registration rise 2% by October 2019.
Over 16,800 active patients are in the program, according to the latest state data.
Possible Benefits For Nevada’s Medical Patients
Patients in Nevada receive benefits for having a valid card, though some do not find them worthwhile.
Benefits include avoiding 10% sales tax charges and reciprocity laws for qualified visitors. Yet patients like Lori Deters worry about product quality and price.
“The quality is terrible, the product is dry,” Deters told Benzinga.
Deters also voiced concerns over products for patients, saying little difference exists from the adult use space.
“A recreational person can get the same stuff I can,” she said. “The only difference between them and I in most places is the taxes.”
Deters and other patients may experience a lack of options for medical purposes. That said, the state does permit registered patients to purchase products containing up to 1,000 milligrams of THC in each container.
Adult use consumers can only purchase up to 100 mg per container. Not every dispensary offers different THC potency products at their locations.
Brandon Wiegand, regional general manager for dispensary brand The+Source, said the