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420 with CNW – Analysts Predict the Medical Cannabis Industry Will Out-Earn the Recreational Market

While the world is still marveling at the bold step that Canada took to legalize recreational marijuana and the resources that the recreational market is likely to command with that legalization, analysts are suggesting that the real money is most likely to be made in the medical cannabis arena.

The medical cannabis market is predicted to be worth approximately $50 billion by 2025. This is a huge jump from what the value of the medical cannabis market was in 2017 (just over $8 billion).

The huge potential for the medical marijuana takes on a bigger positive outlook when one considers the rate at which several countries around the world are legalizing the medical use of cannabis.

The UK plans to allow doctors to start prescribing marijuana in November this year. Malaysia is working out how to permit the medical use of cannabis. Denmark and Luxembourg are also taking steps to legalize medical cannabis.

The rate at which the list of countries where medical marijuana is allowed is growing much faster than the rate at which recreational cannabis can be expected to be decriminalized around the world.

The stigma attached to recreational cannabis use is one of the major reasons why one would be well advised to put their money on medical cannabis instead of thinking of investing in the recreational marijuana sector.

It is significant that the FDA approved a marijuana-based drug in June for the treatment of childhood epilepsy. That was the first time that the U.S. agency approved a cannabis-based drug in a country where the federal government still looks at marijuana as a schedule 1 substance (substances with no medical use and a high likelihood of being abused).

Pharmaceutical companies have also been courting Canadian cannabis industries in order to discuss possible partnerships in developing the medical cannabis sector further. For example, the Canadian division of Swiss-based Novartis International AG has reached an understanding with Tilray Inc. to develop cannabis delivery systems and products jointly.

It should be noted that the pharmaceutical industry carefully weighs the prospects in a given sector before making a commitment. This is because lots of resources are usually invested in R & D before a product ever has a chance to reach the market.

The moves by pharmaceutical firms to partner with cannabis companies is therefore an indicator that the long-term prospects for medical cannabis are solid and major investments can be made into the sector. American marijuana companies like NUGL Inc. (OTC: NUGL) and SinglePoint, Inc. (OTCQB: SING) can only pray that the regulatory climate in the U.S. improves quickly so that they aren’t left behind as the medical cannabis industry evolves rapidly.

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