According to many analysts, 2018 will be a very good year for healthcare development as the world will experience a revolution through new lines of scientifically proven medical cannabis products. In addition to becoming a more accepted industry, here we listed some of the healthcare trends in medical cannabis to watch out for this year.
Current view on medical cannabis
One of the most important dynamics that shape the development of the medical cannabis industry is the proximity of efforts to advocate it to patients and aiding them for medical reasons.
- Last June 2017, more than 10,000 people (including both physicians and patients) have registered to the seven-week medical program of Florida. When compared with the data in previous years, this number of registered patients has increased to more than 60%.Aside from that, the number of authorized physicians who support and recommend the use of medical cannabis has dramatically increased.
- Last August 2017, Hawaii’s first ever licensed medical made big news because of closing (temporarily) within less than a week after opening. Interestingly the reason was quite unexpected: they ran out of product because of very high demands. According to the company, more than thrice the expected number of customers came to buy medication.
- Based on statistics, patients who use medical cannabis still outnumber patients who merely use cannabis for recreational purposes. This fact is also reflected by the increase in the number of sales and enrollment in medical cannabis programs in various states.
More medical cannabis products
With the success of previous efforts to promote the health and medical potential of cannabis, more and more people are shifting their views toward the drug and the products derived from it. Medical cannabis products as a result of scientific studies conducted in other countries are slowly making their ways to the US market through partnerships.
- For instance, Tikun Olam (in Hebrew: Repair the World), a licensed company from Israel, is currently one of the leaders when it comes to the research and development, cultivation, and production of medical cannabis in the world.
- At present, Tikun Olam has ongoing clinical trials that involve the treatment of patients with a wide array of diseases including chronic pain, epilepsy, AIDS, cancer, multiple sclerosis, Crohn’s disease, and many more. Tikun Olam has recently partnered with US companies in many states and has joined with Alternative Solutions in Washington DC in order to promote their products.
- Aside from Tikun Olam, other companies are also developing their own cannabis-derived drugs to further expand the benefits of cannabis.
- If medical cannabis were to be legalized in all states in the US, analysts predict that it could contribute more than $4 billion in sales every year. In the US alone, it is believed that the medical cannabis market will grow to more than $19 billion in 2025.
Despite several oppositions and attempts to fight states that have already implemented their medical cannabis laws, the support for legalization is still very high. With all these facts reflecting how the medical cannabis market is growing at a tremendous rate, it is very likely that its legalization will happen in the coming years.