NEW YORK, May 11, 2017 /PRNewswire/ --
According to a research report by New Frontier Data, in 2017 medical cannabis sales are forecasted to grow to $5.3 billion, accounting for 67% of total cannabis sales. By 2025, medical sales in current legal states are forecasted to grow to $13.2 billion, at which point medical sales will account for 55%. Comparatively, adult-use sales in 2017 are projected to reach $2.6 billion, rising to $10.9 billion by 2025. In 2016 alone, adult-use consumers shopped once every 14 days and spent $49 per transaction; medical consumers, by contrast, shop once every 10 days and outspend the adult-use customer by more than three-to-one; spending $136 per transaction.
California by itself is expected to play a major role in the legal cannabis market. "California offers the perfect example of why it is so important to understand trends in consumer behavior. The state's legal industry is forecast to grow from $2.8 billion in 2017 to $5.6 billion in 2020. That spending will be increasingly directed at products and retailers who understand and serve the market's evolving tastes and preferences. The market is changing, and the most successful operators will be those who adapt most quickly to the change," said New Frontier Data CEO Giadha Aguirre De Carcer.
Americann Inc. (OTCQX: ACAN) an agricultural technology company that is developing medical cannabis cultivation properties, announced in a press release yesterday that, "It is significant that the very first piece of major legislation signed into law by the new administration protects medical marijuana patients and the states that have approved medical cannabis," stated AmeriCann CEO Tim Keogh. "The continuation of bipartisan policies that preserve patient access to cannabis is very positive."
Section 537 of the Consolidated Appropriations Act, 2017 states that, "None of the funds made available in this Act to the Department of Justice may be used, with respect to any of the (regulated) States to prevent any of them from implementing their own laws that authorize the use, distribution, possession, or cultivation of medical marijuana."
"Congress appears to be growing increasingly comfortable with states adopting their own marijuana policies," said Robert Capecchi, Director of federal policies for the Marijuana Policy Project.
AmeriCann is developing a 53-acre property in Massachusetts as the Massachusetts Medical Cannabis Center (the "MMCC"). The MMCC is approved for 1 million square feet which will be developed in phases and is expected to be one of the most technologically advanced cultivation facilities in the nation."
AXIM® Biotechnologies, Inc. (OTCQB: AXIM) focuses on the research, development and production of cannabis-based pharmaceutical, nutraceutical and cosmetic products. The company's flagship products include CanChew®, a CBD-based controlled release chewing gum, and MedChew Rx, a combination CBD/THC gum that is undergoing clinical trials for the treatment of pain and spasticity associated with multiple sclerosis. On March 07, 2017, the company announced enrollment of 40 patients and commencement of its Phase II clinical trial for the treatment of irritable bowel syndrome (IBS) with the company's CanChew Plus® CBD gum.
Cannabis Sativa. Inc. (OTCQB: CBDS) recently announced that the Company has developed a 'hi' branded infused honey product (hi honey) which is made from rich African honey and infused with CBD or THC. CBDS President David Tobias said that "the hi honey flavor is rich, dark and unique." Mr. Tobias went on to express his belief that "superfood honey contains powerful compounds including probiotics and polyphenols, which could help fight inflammation and protect cells from damage."
Vitality Biopharma, Inc. (OTCQB: VBIO) dedicates to the development of cannabinoid prodrug pharmaceuticals, and to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. The company recently announced that it has obtained positive results demonstrating antimicrobial activity of cannabinoids and filed for patent protection on the use of cannabinoid compounds for the treatment of microbes including Clostridium difficile and other 'superbug' pathogens. "Our cannaboside prodrugs enable the targeted delivery of cannabinoids into the large intestine, where C.diff infections colonize, take over, and can cause severe damage. Our compounds are uniquely suited for performing this task, and it's now clear they may provide benefits to gut health through multiple mechanisms." said Dr. Brandon Zipp, Director of R&D at Vitality, Robert Brooke, the Company's CEO.
Kush Bottles, Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry. The company has facilities in the three largest U.S. cannabis markets and a local sales presence in every major U.S. cannabis market. Recently, the company announced it has acquired the web domain Roll-uh-Bowl.com, an online distribution platform for retail sales of collapsible and unbreakable medical-grade silicone water pipes. Roll-uh-Bowl.com sees an average of 39,500 web users per month.
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