PALM BEACH, Fla., Feb. 10, 2021 /PRNewswire/ — The growth of the cannabis market over the last few years has been remarkable. The historical social negativity took a long time to overcome, but now, it has freed the markets to grow by the billions! Consumer demand has spawned revenue streams that continue to grow at a faster pace. However, some would be surprised to know that it’s the medical segment… not the recreational… that is predicted to be outpace recreational marijuana in the race for revenues. One report, from Market Research Future projected that the market for medical marijuana market is anticipated to acquire the market value of USD 54,677 million while thriving at a CAGR of 34% by 2023, while another report from Market Data Forecast increased the projection saying that the size of the global medical cannabis market size which was projected at USD 13.4 Billion in 2020, is forecasted to worth USD 44.4 Billion by 2025, with a CAGR of 22.9%. Active Companies active today in the cannabis related markets include: Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), THC Therapeutics, Inc. (OTCPK: THCT), Aphria Inc. (NASDAQ: APHA) (TSX: APHA), Sundial Growers Inc. (NASDAQ: SNDL), MedMen Enterprises Inc. (OTCQX: MMNFF) (CSE: MMEN).
Another report from, Grand View Research, said that an increasing number of medical practitioners prescribing legal marijuana for various health issues is driving product demand, which in turn, is contributing to market growth, and that a rise in the prevalence of chronic pain and increasing demand for pain management therapies among cancer patients across the region is expected to drive the demand for legal marijuana over the forecast period. The report continued: “The rise in the number of patients suffering from mental conditions is expected to drive the demand for legal marijuana over the forecast period… Rise in awareness regarding the