Report: Medical marijuana market growing quickly
This is exactly the kind of statistics that needs to widely publicized. The name of the game is money and when people see dollar signs, it tends to change their views.
chicagobreakingbusiness A report out this week on the U.S. medical marijuana market estimates the unconventional business already generates $ 1.7 billion in economic activity a year. But that market could grow fivefold in short order, researchers say, as the list of states that legalize pot for treating a variety of illnesses grows and as more patients try it — and switch.
The study, conducted by See Change Strategy for the American Cannabis Research Institute and Deal Flow Media, a financial research firm specializing in unusual assets, says that of the nearly 25 million Americans who are potentially eligible to use medical marijuana based on their diagnoses, fewer than 800,000 currently do.
That makes the nascent market a potentially attractive one for investors looking for an alternative to the more traditional investment alternatives like art, antiques, wine or coins, one with an upside potential that makes China’s current growth rate look anemic.
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