As per the research reports by MRFR, the global medical cannabis market is estimated to acquire a size of USD33,210.21 million by the end of 2027. Furthermore, the report predicts that the market will thrive at a healthy CAGR of 18.14% during the review timeframe.
Whenever it comes to medical cannabis, very strong emotions get stirred up among policymakers, researchers, scientists, doctors, and the public. Is it safe for use? Should it be legalized? Can it be used legitimately? Is it effective? If yes, then what for? Is it addictive? How do we keep teenagers away from it? Is medical cannabis just a trick to legalize marijuana in general? Of course, but the main question is why patients find it helpful, and how can they discuss it with their doctor?
At present, cannabis is legal in 29 states across the US. However, it is still prohibited from the federal government’s perspective. Nevertheless, over 85% of Americans support decriminalizing medical cannabis, and it is predicted that minimum million Americans currently use it.
What Is Medical Cannabis?
Medical cannabis, also called medical marijuana (MMJ), refers to cannabinoids and cannabis physicians prescribe for their patients. The use of cannabis as medicine has not been thoroughly tested given the governmental and production restrictions, leading to limited clinical research to describe the efficacy and safety of using cannabis to treat diseases. The extract from the hemp plant called CBD, i.e., cannabidiol, is the least controversial owing to its intoxicating properties. Cannabis is known to have more than 100 active components. THC or tetrahydrocannabinol causes the high, which goes along with marijuana consumption. However, patients have reported numerous benefits of CBD, from relieving various disorders. Medical cannabis can be administered using several methods, including vaporizing or smoking dried buds, oral or dermal sprays, tinctures, capsules, cannabis edibles, dermal patches, and lozenges. Synthetic cannabinoids such as nabilone and dronabinol are in some countries. Nations that have legalized the use of medical cannabis include Uruguay, Portugal, Peru, Italy, Greece, Colombia, Canada, Poland, the Netherlands, Israel, Germany, Chile, and Australia.
Uses Of Medical Cannabis
The appreciation for CBD has exceeded its record, particularly after its legalization across several regions worldwide. It has made its way through people with ground-breaking products proven useful in various healthcare requirements. The innovative products can be found flying off of the frequently stocked shelves. The product is not only known for its recreational properties but also for the medical benefits it offers. With the rapid growth in awareness regarding the health benefits of medical cannabis, the market is set to witness growing areas of application. Here are some of the popular health benefits offered by medical cannabis.
- Instant relaxation
It is one of the most popular and appealing effects of CBD on the body. The benefit of using CBD reflects on your physical and mental health. Healthcare professionals are recommending CBD for good pain relief. It has been proven helpful for those suffering from anxiety and depression. When the inception of stress is sensed, taking CBD in appropriate dosages helps control it.
- Stimulates healthy lungs
It may seem strange, but it’s true. CBD is famous for the enhancement of your lung health. CBD has several health benefits that are not known to many people. With growing research & development activities on the consumption and benefits of CBD, more knowledge is expanded. The important misjudgments and misconceptions regarding smoking CBD are linked with tobacco. It is a major misunderstanding that smoking CBD has the same effects on the lungs. At the same time, CBD has a lot of constructive impacts on the health of your lungs.
CBS improves the capacity of the lungs. And this causes the growth of healthy lung muscles. In addition, a solid diaphragm enhances the intake of oxygen and stamina.
- Weight management
CBD has a huge impact on your calorie intake, and it is not known to many people. Getting a body you’ve always desired can be very stressful and can cause both mental & physical stress. With CBD, both the issues can be resolved. Along with lowering calorie intake, CBD also reduces related mental stress. In addition, CBD normalizes the insulin produced in the body. With controlled calorie and insulin intake in check, weight is also appropriately managed. Both the issues, i.e., anorexia and stress eating, are dealt with with CBD intake.
While every region has its laws influencing the use of medical cannabis, most regions globally have legalized it for medical treatments, and more are thinking about bills to do the same. As a result, the market has seen a speedy growth in mergers, acquisitions, and partnerships in the past few years. For example, TILT Holdings Inc., a prominent leader in cannabis business solutions that incorporate brand development and retail, inhalation technologies, processing, cultivation, and manufacturing, in March 2021, has announced the signing of a distribution partnership in Ohio with Timeless Refinery, a prominent cannabis lifestyle brand with operations in California, Missouri, Arizona, and Oklahoma. Timeless, established in 2011, is an innovator in the cannabis vaporization sector and a prominent multi-state house of lifestyle brands in Arizona. The brand is famous for a wide-ranging product line of innovative cartridges, which combine high-quality distillate with live or botanical resin terpenes to fit a range of customer preferences.
Furthermore, the market is very lucrative and thus encouraging many businesses to enter the market. Several new businesses have been found in recent times across the globe. For example, DeAundrea Delaney, in March 2022, founded a hemp empire in Mississippi, but the long-term goal is to open the first medical marijuana dispensaries. She waited long to set up a foundation selling what she legally could.
CBD consumption has numerous health benefits to offer. There are various ways of including CBD in daily life. Several research activities are being conducted on the use of cannabis worldwide. After plenty of research conducted worldwide, the misbeliefs regarding the impact of CBD on the body among people are decreasing gradually. The market has various products available such as delta eight brownies, nerd’s rope THC, etc. One can always look for several products available and select the best one suits you. The internet is loaded with websites available that have CBD products with different blends.
Medical Cannabis Market: Natural Healing Benefits And Applications
This article is not, nor is it intended to be, a substitute for professional medical advice, diagnosis, or treatment and should never be relied upon for specific medical advice. The views expressed in this article are the expert’s views and do not necessarily represent the views of CannaList BIZ.