The year 2020 and the beginning of a new decade will go down in history. It’s not just politics, civil rights movements, social media or even COVID-19 that are contributing to changing what our future will look like. Medical marijuana is making an impact in 2020, too.
The increase in using medical marijuana in 2020 has its own part to play and according to the predictions out there, it’s playing a major role. With an increase in funding for research and production of medical marijuana, both demand and availability will grow with marijuana becoming increasingly legalized.
According to the Business Wire press release on the Global Medical Marijuana Market, “Technavio has been monitoring the global medical marijuana market since 2018 and the market is poised to grow by USD 22.33 billion during 2020-2024 at a CAGR of over 24% during the forecast period.” We’ll discuss what this growth currently looks like and what it might mean for people all over the United States and the world.
Where Is Medical Marijuana Available?
It’s just the beginning and already 34 states and Washington, D.C., have legalized medical marijuana. This has allowed over 2.8 million Americans to use it as an alternative medicine with a proper diagnosis.
These states include Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Hawaii, Illinois, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Utah, Vermont, Washington, Washington D.C. and West Virginia.
This year and in future years, states will continue to loosen their marijuana laws because more and more people are talking about it and benefiting from it. In states with a medical marijuana program, the number of patients enrolled ranges from 0.01% to 3.15%, with numbers rising.
How Medical Marijuana Is Helping
For every state that has made medical marijuana available, the law has not been repealed. Patients are reporting decreased pain and symptoms of their medical conditions, and a noticeably improved quality of life.
Currently, states decide whether or not medical marijuana is available, each state handles its programs and patients differently. According to a Forbes article on 2020 cannabis predictions, “Each state makes its own rules. For example, regarding medical marijuana use, some states (including Florida and New Jersey) have a list of specific ailments that can warrant a recommendation of the substance. In other states such as Oklahoma and California, the decision to use medical marijuana is entirely between patient and doctor.
Success stories are becoming more and more common and they are often in people who have tried other types of medication but could not find relief for their condition. One such example is a real-life patient in the medical cannabis world. “Charlotte was three years old when she had her first seizure. Her seizures increased in both intensity and frequency as she got older. Doctors diagnosed Charlotte with Dravet syndrome, a rare form of epilepsy. She was only five years old and suffering roughly 300 grand mal seizures per week. Her body was so badly affected that her parents and doctor put her in a medically induced coma. With no options for Charlotte, the family turned to medical cannabis. The results were astounding. Charlotte suffered no seizures her first week of trying the cannabis oil.”
The Future of Medical Marijuana
The medical marijuana industry will continue to grow and so will its sister industries. Recreational marijuana, CBD oil, hemp and other cannabis compounds will continue to grow in popularity as research continues and scientists reveal all of the potential benefits of the cannabis plant family.
It remains controversial, but medical marijuana is showing us that natural options are changing how the world works. Matt Anderson, chief executive of Vanguard Scientific, a company that provides service resources for cannabis and hemp botanical extraction, says just the ongoing discussion of legalization and decriminalization will continue to drive market growth.
Keep an open mind and keep the conversation going. You may be surprised how quickly medical marijuana grows and wish you were a part of the movement early on. Now is the time to get excited. And who knows? Medical marijuana could be the medical miracle that you or a loved one has been waiting for.
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