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Medical Marijuana Market To Reach USD 148.35 Billion By 2026 | Reports And Data

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Medical application of marijuana as pain management in cancer, seizures, neurology, and muscle spasm will drive the market growth.
Market Size – USD 11.70 Billion in 2018, Market Growth – CAGR of 26.4%, Market Trends – Legalization of marijuana in several countries.NEW YORK, May 20, 2019 (GLOBE NEWSWIRE) — The Global Medical Marijuana Market is forecast to reach USD 148.35 Billion by 2026, according to a new report by Reports and Data.  Marijuana is used for treating chronic pain that affects millions of people each year across the globe, thus increasing the demand for the product as a treatment procedure for medical conditions. Statistically, around 25 million people endure acute pain in the US. Moreover, several countries around the globe have made medical marijuana legal, i.e., it would allow people to use marijuana for health purposes; therefore, boosting the market for the medical marijuana market.Request free sample of this research report at: https://www.reportsanddata.com/sample-enquiry-form/1413Side effects of the products include dizziness, fatigue, speech problem, constipation, and insomnia will hamper the growth of the market. Additionally, lack of data safety and problem in undertaking medical marijuana business is also estimated to hinder the growth of the market.North America dominates the market of medical marijuana. The major contributors are the US and Canada. As of 2018, 30 U.S. states have permitted the application of medical marijuana. Moreover, the growing number of research studies in the US, encouraging and supporting marijuana’s use for medical purposes will supplement the North American medical marijuana market growth.In 2017, Oxford University went into a partnership with Kingsley Capital Partners, for the development of cannabis treatment for inflammatory and cancer diseases. These partnerships are expected to have a positive impact on the market of medical marijuana.Further key findings from the report suggestCountries are beginning to liberalize laws related to medical marijuana; the market is forecasted to witness a surge in demand. Statistically, the majority of the cannabis, are currently, sold through illicit channels.Several countries have recognized the advantages of this product and are in the process of legalizing it.With a rise in the volume of clinical trials and scientific studies, the demand for cannabis for clinical use is forecasted to grow over the forecast period. Medical marijuana held a market share of 53% in the year 2018.Countries in North America have also started promoting derivatives such as oils, tinctures, and resins, along with products like vaporizers, among millennials who are considered primary consumers.The oil segment is forecasted to grow with the highest CAGR of 27.1% in the forecast period. Hemp oil is in high demand among healthcare sector for clinical purposes.Health concerns associated with smoking is another factor that stops doctors from prescribing it. Hence, oil or edible forms of marijuana are generally prescribed and are growing in demand.On the basis of application, the market is segmented into Chronic Pain, Mental Disorders, Anorexia, Seizures, Muscle Spasm, Cancer, and Others.Chronic pain dominated the market, with a share of 63% in the year 2018. Marijuana reduced pain and also improved the quality of life among patients.On the basis of the route of administration, inhalation segment is forecasted to have the highest market share of 54% in the year 2026.Inhalation provides an advantage of controlled dosage and effective absorption of cannabinoids into the body. This should increase the demand for inhalation marijuana over the coming years.Dispensaries held a market share of 48% in the year 2018. These pharmacies sell various legal cannabis products in the form of tablets, vaporizers, balms, elixirs, and tinctures.Patients usually prefer buying medical products from authorized and legal sources to abide by the government’s rules, thus maximizing the revenue by this segment.Europe is forecasted to have a market share of 28% in the year 2026. Germany is the largest market for cannabis and thereby fuels the growth of the market in this region.Key participants Canopy Growth Corporation, Aphria, Inc., Aurora Cannabis, Maricann Group, Inc., Tilray, Cronos Group, Organigram Holdings, Inc., ABcann Medicinals, Inc., Tikun Olam, Insys Therapeutics, Inc., The Peace Naturals Project, MedReleaf Corporation, and GW Pharmaceuticals PLC.To identify the key trends in the industry, click on the link below:   https://www.reportsanddata.com/report-detail/medical-marijuana-marketSegments covered in the report:For the purpose of this report, Reports and Data have segmented the global Medical Marijuana Market on the basis of Marijuana Type, Product Type, Route of Administration, Distribution Channel, Medical Application, and Region:                      Marijuana Type Outlook (Revenue, USD Billion; 2016-2026)Medical MarijuanaRecreational MarijuanaProduct Type Outlook (Revenue, USD Billion; 2016-2026)OilBudsTincturesMedical Application Outlook (Revenue, USD Billion; 2016-2026)Chronic PainMental DisordersAnorexiaSeizuresMuscle SpasmCancerOthersRoute of Administration Outlook (Revenue, USD Billion; 2016-2026)InhalationOralIntravenousTopicalDistribution Channel Outlook (Revenue, USD Billion; 2016-2026)DispensariesOnlineOrder Now: https://www.reportsanddata.com/checkout-form/1413Regional Outlook (Revenue, USD Million; 2016-2026)North AmericaU.S.EuropeUKFranceAsia PacificChinaIndiaJapanMEALatin AmericaBrazilBrowse more reports of Pharmaceutical category at:  https://www.reportsanddata.com/report/category/pharma-and-healthcareAbout Reports and DataReports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help clients make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.Contact Us:John WatsonHead of Business DevelopmentReports And Data | Web: www.reportsanddata.comDirect Line: +1-800-819-3052E-mail: sales@reportsanddata.com

Original story can be found at: http://www.globenewswire.com/news-release/2019/05/20/1829108/0/en/Medical-Marijuana-Market-To-Reach-USD-148-35-Billion-By-2026-Reports-And-Data.html?f=22&fvtc=5&fvtv=41223728

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Sugarmade Inc. Featured in CannabisNewsWire Publication Discussing Huge Impact of Hemp Industry on Farming

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Original story can be found at: http://www.globenewswire.com/news-release/2019/08/23/1905984/0/en/Sugarmade-Inc-Featured-in-CannabisNewsWire-Publication-Discussing-Huge-Impact-of-Hemp-Industry-on-Farming.html?f=22&fvtc=5&fvtv=41223728

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MariMed Receives Certificate of Occupancy for Cannabis Facility in New Bedford, Massachusetts

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NORWOOD, Mass., Aug. 22, 2019 (GLOBE NEWSWIRE) — MariMed Inc. (OTCQX: MRMD), a premier cannabis and hemp multi-state operator focused on health and wellness, has received a certificate of occupancy from the city of New Bedford, Massachusetts for its new cannabis cultivation and manufacturing facility.
“ARL Healthcare, our Massachusetts cannabis licensed subsidiary, will now schedule its final state inspection to be cleared to commence full operations of its cultivation, production and dispensary,” said Bob Fireman, MariMed’s CEO. “The state inspection will also include our completed 10,000 sf dispensary located in Middleborough, Massachusetts.”The New Bedford manufacturing facility is part of a 137,000 sf building situated on 17 acres providing for future growth and expansion. This state-of-the-art cannabis production facility will open with 34,000 sf of canopy growing space, which will be processed in its GMP standard production laboratory and commercial kitchen. ARL Healthcare has already run local job fairs and commenced hiring and training some top individuals both in New Bedford and Middleborough, as part of its commitment to these municipalities. It intends to create over 100 new jobs in total in Massachusetts.MariMed will be introducing into the Massachusetts marketplace its top brands and products that have had great success in other state facilities under its management. This will include its flower brand Nature’s Heritage™ with its proprietary genetics and strains; its infused product brands Betty’s Eddies™, and Kalm Fusion™; and its exclusive licensed brands “The Healer,” “Binske,” “Tikun Olam,” “Lucid Moods,” “Dab Tabs” and others. These products will be made in the New Bedford facility and will be sold through company dispensaries as well as distributed to the wholesale market.“We are delighted to be entering into the Massachusetts market with its current shortage of supply,” noted Fireman. “ARL Healthcare is now a wholly owned subsidiary, as we work towards completing the consolidation of our managed licensed clients in multiple states. As such, the revenue from this operation will be reflected in our public company results.”ARL Healthcare under its RMD license, has three permits for dispensaries in Massachusetts. Middleborough will be first to open with the other two currently in the implementation process. The company intends to become one of the largest wholesale producers in Massachusetts to support both the medical and adult use markets and is positioned for great success in Massachusetts.About MariMedMariMed, a multi-state cannabis operator, is dedicated to improving the health and wellness of people through the use of cannabinoids and cannabis products. The company develops, owns and manages seed to sale state licensed cannabis facilities which are models of excellence in horticultural principles, cannabis cultivation, cannabis infused products and dispensary operations. MariMed has an experienced management team that has produced consistent growth and success for the company and its managed business units.The company is at the forefront of science and innovation through research developed by its lab technicians and medical advisors resulting in industry leading products and brands, including “Kalm Fusion” and “Betty’s Eddies.” These precision dosed products are focused on specific medical symptoms which are licensed and distributed across the country.In 2019, with the enactment of the 2018 US Farm Bill, MariMed formed MariMed Hemp, a wholly owned subsidiary, to leverage its seed to sale cannabis platform and experience into the emerging hemp-based CBD industry. The company acquired a significant stake in Kentucky-based GenCanna Global, a national and international leading cultivator, producer, and distributer of hemp and GMP quality CBD oils and isolates. With this strategic relationship, MariMed Hemp has developed and is marketing a portfolio of CBD brands and products to multiple retailers and direct to consumers both domestically and internationally. MariMed Hemp recently launched its Hemp Engine™ store-within-a-store distribution platform for retailers. It is also actively pursuing other hemp industry business opportunities with genetics, farming, biomass, and new and innovative technologies.For additional information, visit marimedinc.comFacebook: MariMedIncImportant Caution Regarding Forward Looking Statements
This release contains certain forward-looking statements and information relating to MariMed Inc. that is based on the beliefs of MariMed Inc.’s management, as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events including estimates and projections about its business based on certain assumptions of its management, including those described in this Release. These statements are not guarantees of future performance and involve risk and uncertainties that are difficult to predict, including, among other factors, changes in demand for the Company’s services and products, changes in the law and its enforcement and changes in the economic environment. Additional risk factors are included in the Company’s public filings with the SEC. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as “hoped,” “anticipated,” “believed,” “planned, “estimated,” “preparing,” “potential,” “expected,” “looks” or words of a similar nature. The Company does not intend to update these forward-looking statements. None of the content of any of the websites referred to herein (even if a link is provided for your convenience) is incorporated into this release and the Company assumes no responsibility for any of such content.            
All trademarks and service marks are the property of their respective owners.Media & Investor Contact
Ronald Both or Jonathan Leuchs
CMA 
Tel (949) 432-7566
MRMD@cma.team
 

Original story can be found at: http://www.globenewswire.com/news-release/2019/08/22/1905643/0/en/MariMed-Receives-Certificate-of-Occupancy-for-Cannabis-Facility-in-New-Bedford-Massachusetts.html?f=22&fvtc=5&fvtv=41223728

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CO Gov Polis charts course for CBD and hemp innovation at sold-out AHPA Supplement Congress

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Denver, CO, Aug. 22, 2019 (GLOBE NEWSWIRE) —Colorado Governor Jared Polis rallied more than 200 hemp farmers, manufacturers, producers, retailers, and industry professionals during his keynote address to the American Herbal Products Association (AHPA) Hemp-CBD (cannabidiol) Supplement Congress held earlier this month.No stranger to CBD and hemp legislation, Polis called for action for an easier hemp licensing application process, which he says would strengthen agricultural communities.“We know what’s worked to grow our agricultural sectors, and it’s no different for hemp. It’s a big part of our rural economic initiative,” Polis said. “You came to the right place to learn about an industry that is very much, even in Colorado, still in our early days, but more mature than in other states.”Colorado is on the forefront of industrial hemp production thanks to innovative leadership and Polis outlined the newest public-private initiative called CHAMP (Colorado Hemp Advancement and Management Plan). The plan was created to provide in-depth knowledge and information about CBD to other governmental agencies. CHAMP consists of eight focus groups and concentrates on research, development and seed; cultivation; testing; transportation; processing; manufacturing; marketing; banking and insurance. Food and Drug Administration (FDA) and U.S. Department of Agriculture (USDA) officials also provided an update on efforts to implement hemp provisions in the 2018 Farm Bill.Cara Welch, FDA’s Acting Special Assistant to the Deputy Commissioner for Policy Legislation & International Affairs, stressed that the agency has well-established frameworks and regulatory tools for evaluating products under its jurisdiction and the same frameworks and tools are being applied to hemp.“We’re trying to be as transparent and informative as possible on these issues, and to resolve open questions quickly, efficiently, but also thoughtfully,” Welch said. USDA Hemp Program Chief Bill Richmond said that federal authorities are working to provide farmers and state and local regulators with a solution that simplifies interstate hemp commerce and the USDA is wrestling with the Farm Bill’s requirement for a national THC testing protocol.“Our goal is to provide a consistent, easy-to-follow regulatory framework around hemp production,” Richmond said.During the two-day AHPA Congress, hemp industry experts shared preliminary data showing rapid industry growth. Hemp-derived CBD sales ballooned to $238 million, an increase of 57% in 2018 over the previous year, according to Nutrition Business Journal. Hemp acreage under license across the U.S. increased nearly five-fold in the past year from 112,000 acres in 2018 to 480,000 acres in 2019, according to data gathered by advocacy group votehemp.com.“The overwhelming turnout for the first AHPA Hemp-CBD Supplement Congress demonstrates this emerging industry’s commitment to becoming a well-regulated industry in order to meet growing consumer demand for legal, safe and high-quality products,” said AHPA President Michael McGuffin. “The industry must navigate rapidly evolving legal, regulatory and financial landscapes and AHPA is taking what it has learned from the well-established herbal industry to provide companies with the expertise and resources needed to ensure the long-term success of this emerging sector of the herbal industry.”More than 100 attendees also participated in half-day workshops covering current good manufacturing practice (cGMP) requirements for dietary supplements and regulations for new dietary ingredients (NDIs) and generally recognized as safe (GRAS) ingredients for food and supplements.Additional HighlightsGetting to market and hemp supply chain managementA primer on FDA regulation of hemp-CBD supplementsHemp-CBD supplements from the retailers’ perspectiveMedia Coverage Colorado Biz Magazine, August 19, 2019: https://www.cobizmag.com/Trends/Governor-Polis-Establishes-Way-Forward-for-Colorado-Hemp-Industry/Westword, August 17, 2019: https://www.westword.com/marijuana/governor-jared-polis-outlines-colorados-hemp-strategy-11450725NUTRAingredients-USA, August 19, 2019: https://t.co/hegIjedPXW?amp=1 NUTRAingredients-USA, August 20, 2019: https://www.nutraingredients-usa.com/Article/2019/08/20/Brand-development-key-to-success-in-CBD-game###About AHPAThe American Herbal Products Association (AHPA) is the national trade association and voice of the herbal products industry. AHPA is comprised of more than 400 member companies, consisting primarily of domestic and foreign companies doing business as growers, processors, manufacturers and marketers of herbs and herbal products as foods, dietary supplements, cosmetics, and non-prescription drugs, and also including companies that provide expert services to the herbal trade. Founded in 1982, AHPA’s mission is to promote the responsible commerce of herbal products to ensure that consumers continue to enjoy informed access to a wide variety of herbal goods. www.AHPA.org
Attachmentsimage2pixilstudio-events2-286Haley Chitty
American Herbal Products Association (AHPA)
3015881171 ext. 104
communications@ahpa.org

Original story can be found at: http://www.globenewswire.com/news-release/2019/08/22/1905542/0/en/CO-Gov-Polis-charts-course-for-CBD-and-hemp-innovation-at-sold-out-AHPA-Supplement-Congress.html?f=22&fvtc=5&fvtv=41223728

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