By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    photo of hands with blue veins
    8 Proven Tips on Finding Difficult Veins
    November 12, 2021
    tips for getting over the pandemic blues
    4 Proven Ways to Get Over the Pandemic Blues
    February 22, 2022
    medical industry innovations
    How is CNC Machining Transforming the Medical Industry?
    June 2, 2022
    Latest News
    The Wide-Ranging Benefits of Magnesium Supplements
    June 11, 2025
    The Best Home Remedies for Migraines
    June 5, 2025
    The Hidden Impact Of Stress On Your Body’s Alignment And Balance
    May 22, 2025
    Chewing Matters More Than You Think: Why Proper Chewing Supports Better Health
    May 22, 2025
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    Transformational and Disruptive Changes Are Coming to the Delivery System
    July 22, 2012
    Telemedicine and the PCP Cliff
    November 30, 2012
    Engaging Specialty Practices in the Patient Centered Medical Neighborhood
    March 24, 2013
    Latest News
    Streamlining Healthcare Operations: How Our Consultants Drive Efficiency and Overall Improvement
    June 11, 2025
    Building Smarter Care Teams: Aligning Roles, Structure, and Clinical Expertise
    May 18, 2025
    The Critical Role of Healthcare in Personal Injury Recovery: A Comprehensive Guide for Victims
    May 14, 2025
    The Backbone of Successful Trials: Clinical Data Management
    April 28, 2025
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: The State of the Medical Marijuana Industry
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Policy & Law > The State of the Medical Marijuana Industry
Policy & LawWellness

The State of the Medical Marijuana Industry

Jonathan Catley
Last updated: September 21, 2018 9:46 pm
Jonathan Catley
Share
7 Min Read
Canabis.jpg
SHARE

  In recent years, cannabis consumption has gone from combustible offense to a big business. Let’s take a look at the state of the medical marijuana industry in 2016. It’s 4/20 again, which means throngs of people gathering in public places to blow hazy, psychedelic smoke rings from one of the most divisive plants on the planet: cannabis. Aside from the some 1.2 million registered medical marijuana patients — and residents of Alaska, Colorado, Oregon, Washington, and the District of Columbia (where cannabis is fully legal), according to ProCon.org — hemp enthusiasts will be celebrating at their own legal peril. (Note: if you’re wondering, “Why 4/20?,” HuffPo has a good explainer). Marijuana is still classified by the DEA as a Schedule 1 substance (along with heroin and LSD), which means that technically (on the federal level), it has no accepted medicinal use. That’s interesting, because 24 states have passed laws legalizing medicinal marijuana treatments in some form. The Department of Justice has acknowledged this legal hall of mirrors, saying that they’ll leave states to enforce their own regulations, unless federal prosecutors decide to pursue action — at any moment and for any reason, essentially. The industry’s $6.7 billion dollar valuation, according to Forbes, however, suggests they’ll probably be keeping their distance, at least for now.

Contents
Medicinal Marijuana Goes Way BackPresent DayBusiness is Blooming

Medicinal Marijuana Goes Way Back

Marijuana, indigenous to Central Asia, may have been one of the earliest cultivated crops, some 14,000 years ago, as Live Science reports. But as early as 2737 B.C., Chinese Emperor Shen Neng officially endorsed marijuana tea as a treatment for ailments like rheumatism, gout, and malaria, according to Medical Daily. It’s been a staple in nearby India for nearly as long, and the potent drink bhang still serves social, religious, and medicinal purposes to this day (despite cannabis being outlawed in India, there are are provisions allowing for bhang production and consumption), as the Wall Street Journal reports. The Spanish introduced cannabis to the Americas in the 1500s for hemp cultivation — hemp is a fibrous, non-psychoactive neighbor to marijuana — which was so popular that by 1619, English residents of the second North American colony, Jamestown, were required by law to cultivate it (and even traded it as legal tender), according to PBS. By the 20th century, marijuana use was fairly ubiquitous in the U.S., but due to widespread, highly racialized fears about the drug’s effects, was criminalized nationally in 1937. The rest is well-documented history.

Present Day

There’s still debate within the scientific community as to marijuana’s precise medical benefits. Due to the plant’s criminalization (and related bureaucracy), it’s been difficult to perform sufficient clinical research needed to establish definitive conclusions. However, strong trends are starting to coalesce, coinciding with a shift in the national mood towards its use. Studies suggest that marijuana — specifically, its component compounds like THC (psychoactive) and CBD (anticonvulsant, antipsychotic) — can effectively reduce the symptoms of a number of ailments, including chronic and acute pain, anxiety, spasticity, and nausea and vomiting in chemotherapy patients, according to JAMA and Newsweek. It has also shown promise as a treatment for conditions like schizophrenia, epilepsy, and even improves the healing process for broken bones. While a majority of research has focused on the adverse effects of cannabinoids, these have been proven to be non-serious, especially in the short-term, according to CMAJ. What’s more, marijuana ingestion has never been documented as fatal. So far, patients and the medical community have been strongly supportive of its use. In a 2012 survey of California medical marijuana patients, 92% alleged that it helped them to alleviate symptoms or treat a serious condition, according to the Washington Post. As of 2013, 76% of physicians supported the use of medical marijuana, as the New England Journal of Medicine reports.

Business is Blooming

Debate notwithstanding, the economics of marijuana have taken on a power of their own, and perhaps unstoppably so, according to the Motley Fool. By 2020, the industry, including recreational sales, is projected reach between $22-44 billion annually, outpacing even the National Football League, according to the Marijuana Business Journal. Over the same period, additional spillover benefits, such as jobs created, are estimated to add $13-33 billion to the U.S. economy. Because of the discrepancy between federal and state legislation, the number of legal medical marijuana dispensaries remains a subject of debate, but likely falls somewhere between 1,000-10,000. In Colorado alone, there are about 600, which outnumbers Starbucks and McDonald’s locations combined. Reports suggest a similar number of dispensaries in California, according to BallotPedia. Naturally, these facts have fueled a growing wave of popular support: Third Way explains how 78% of Americans favor medical marijuana legalization (58% back recreational use according to Gallup polls). However, it’s still unlikely that the industry will gain federal legal status in the immediate future; the vetting of medical treatments takes time, and justly so. Meanwhile, there are other legitimate questions to answer, such as whether youth patient populations should be prescribed medical cannabis, and whether legalization would, in fact, increase abuse of the substance. To note, popular drug prevention program D.A.R.E. has removed marijuana from its list of gateway drugs, according to the Sun Times Network. But considering how rapidly the medical marijuana industry has grown in recent years, don’t be surprised if it continues to proliferate at a breakneck pace. What’s clear is that cannabis has made a move from the countercultural to the mainstream medical — and obnoxious 4/20 celebrations notwithstanding, any medical progress is good progress. medical-marijuana.png  

More Read

National Patient Safety Foundation Launches 7/365 Campaign for Patient Safety
Telehealth: Interview with Roy Schoenberg, CEO of American Well
Doctors and Their Patients: Commitments to Caring
How Powerful Patients Save the System Money
Health Insurance Claims & Plans: Understanding The ICHRA
TAGGED:medical marijuana
Share This Article
Facebook Copy Link Print
Share

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

Streamlining Healthcare Operations: How Our Consultants Drive Efficiency and Overall Improvement
Global Healthcare Policy & Law
June 11, 2025
magnesium supplements
The Wide-Ranging Benefits of Magnesium Supplements
Health
June 11, 2025
Preparing for the Next Pandemic: How Technology is Changing the Game
Technology
June 6, 2025
migraine home remedies and-devices
The Best Home Remedies for Migraines
Health Mental Health
June 5, 2025

You Might also Like

BusinessMedical Education

5 Helpful Networking Tips For Healthcare Professionals

April 17, 2019

Don’t Regulate DTC Genetic Testing

April 27, 2011
SpecialtiesWellness

Zinc and Testosterone – Does Zinc Support Testosterone Levels?

June 29, 2019
health life insurance
Health care

Minimizing the Health Impacts of Stress with Life Insurance

October 11, 2019
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?