Pharma investing millions of dollars to develop medical marijuana products
Even though the US Food and Drug Administration has approved only a few medical marijuana-derived products, there will be a strong growth trajectory over the next few years.
Much of the current medical cannabis revenue is currently generated in states where the use of marijuana plant products for medical indications has been legalized. Revenue projections suggest that the medical segment of the market may surpass the recreational revenue segment in the next four years, as patients in states where marijuana is legal look for alternatives to opioids to treat their chronic pain.
A recent analysis on medical cannabis finds that the total revenue of this market in the USA is expected to grow from $5.32 billion in 2017 to $10 billion in 2022.
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