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Against a backdrop of market trends supporting continued growth, U. Even while the state-by-state regulatory landscape impedes activity, cannabis retail dispensaries are growing significantly by the month, fueling gains among multi-state operators with growing geographical footprints and increasingly sophisticated retail and product branding. Taking a step further, already, while major players stay in the sidelines awaiting additional regulatory clarity, food and beverage innovation abounds among smaller, independent retailers and product marketers. This report provides up-to-date insights on the quickly evolving cannabis landscape, with a focus on multi-state cannabis dispensary operators and food and beverage introductions.
Is the slow pace of cannabis legalisation fuelling the black market?
The legalisation of medical cannabis has, in many countries, been a direct result of the years of campaigning done by the families of those with painful or debilitating conditions, coupled with an improved body of scientific research backing the effectiveness of the drug.
But even for those patients who successfully manage to affect legislative change, their fight is rarely short-lived. In many of these countries where medical cannabis has been legalised, there remain huge barriers for patient access.
Chief among these are a lack of educational resources and prescribing power among medical professionals, inconsistent regulation and licensing rules, and a general lack of infrastructure to support the supply of medical cannabis. The Legal Lag leaves patients with a legitimate need frustrated, and without a way to access the medicine which by rights should be available to them.
As a result, these patients who do have a legal right to medicinal cannabis products are turning to the only place where the products are readily available — the illicit market. In the UK, Schedule 2 drugs are able to be legally prescribed by doctors, and so, the government effectively legalised the use of medical cannabis.
A further prescriptions were given through private clinics in the same time period. By comparison, estimates suggest that there are now around 1. And yet, it is estimated that there are roughly , Australians that are continuing to self-medicate with cannabis products bought from the illegal market.
Despite this apparent variety of access streams, in reality, access to medical cannabis in Australia also lags behind what was promised by legalisation. Most clinical trials have a limited number of places for participants, Australian privacy laws do not allow patients to search for an AP and a general lack of awareness surrounding the SAS has discouraged doctors from engaging with the scheme.
In addition to the Legal Lag resulting in the slow implementation of patient access schemes, some patients find themselves turning to the illicit market after being priced out of the legal one. In the Netherlands, where an estimated half a million people use cannabis medicinally, the majority do not have a legal cannabis prescription. In order to get the costs paid by health insurance, prescribing doctors are required to give a detailed explanation of why cannabis is the most appropriate treatment.
With little available to doctors in the way of educational resources, many healthcare professionals find it difficult to provide adequate proof to insurers. For those who have been given a medical cannabis prescription but who have been unable to access it legally or consistently , or who cannot afford their dosage, the black market continues to provide a more accessible alternative.
Stuck between risking prosecution and criminal conviction for the use of illicit cannabis, and waiting in pain for the legal market to iron out its access problems, patients around the world are being left with a bleak choice. While state and national medical cannabis programmes continue to struggle with this Legal Lag, the black market appears to have gained a new kind of consumer and is being fueled by the patients that need a regulated, legal market the most.
Our weekly newsletter brings you the most important developments, news and informed commentary on the global cannabis industry. February 7, Is the slow pace of cannabis legalisation fuelling the black market? Advanced research, clinical trials and passionate patients campaigns has helped to progress medical cannabis legislation on a global scale. Yet despite this, patients are seemingly continuing to turn to unregulated, black market suppliers of the drug to get their medicine.
What does this tell us about the state of medical cannabis? Stephen Murphy, Group Managing Director The legalisation of medical cannabis has, in many countries, been a direct result of the years of campaigning done by the families of those with painful or debilitating conditions, coupled with an improved body of scientific research backing the effectiveness of the drug.
The legal market does not match black market accessibility For those who have been given a medical cannabis prescription but who have been unable to access it legally or consistently , or who cannot afford their dosage, the black market continues to provide a more accessible alternative.
Click to read more of Prohibition Partners Insights. Is the slow pace of cannabis legalisation fuelling the black market? Next Article. Catch up on our newest articles that you might have missed. Helena St.
PRNewswire/ -- Global demand for cannabis has been exceptionally for the medical, CBD, and recreational markets, especially the next. Cocaine was taking over the U.S. markets, and smugglers from all over were trying to access our areas of the Medellín Valley to refuel the airplanes headed for.
Marijuana consumption is still a taboo, but it seems like the millennial generation is working hard to change this fact. They are the pioneers of recreational weed usage and the major reason why nine states decided to legalize marijuana since Contrary to baby boomers, Millennials prove to be open to new experiences and hence turn into genuine drivers of social changes. And it's not only about changing the social climate — Millennials are also contributing to the growth of a brand new industry.
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As the cannabinoid-based products and treatment market continues to rapidly expand, cannabis and legal marijuana innovators are pouring more funds into CBD-based research and product development. The current cannabinoid market continues to present revenue boosting opportunities, consumers continue to demand higher quality CBD-based products. Earth Science Tech, Inc. Out of all three forms ETST's science team sees the semi solid formula's potential as a huge success. The final product looks similar to regular mustard, but it's a very special condiment that keeps all properties of full spectrum hemp oil.
Millennials are fueling the cannabis economy
Cannabis sales skyrocketed in the days leading up to stay-at-home orders to stem the spread of the coronavirus in the US. Now, cannabis analysts have found that an unusually high proportion of those sales can be attributed to edibles. Legalizing cannabis is more than a cultural shift. The changing legal status of weed in the US, Canada, and other countries will transform it from an illegal narcotic trafficked in the shadows to a multibillion-dollar industry—one that will likely rival tobacco, alcohol, and beverage markets. A new report from the market research firm Headset shows that during the week beginning March 9, when the World Health Organization deemed the coronavirus a pandemic and Amazon sellers stockpiled hand sanitizer, the edibles category saw a The following week, sales of edibles more than doubled. BDSA has also observed an edibles uptick, and Bingham says those products enjoy a few additional advantages in pandemic times: they can deliver a fairly precise outcome, and are perhaps better-suited for solitary than social consumption. And because cannabis can only be purchased with cash in the US, consumers are particularly cost-sensitive in uncertain economic times like these. Skip to navigation Skip to content. Want a calm, rational, even curious approach to coronavirus?
The legalisation of medical cannabis has, in many countries, been a direct result of the years of campaigning done by the families of those with painful or debilitating conditions, coupled with an improved body of scientific research backing the effectiveness of the drug. But even for those patients who successfully manage to affect legislative change, their fight is rarely short-lived.
