According to analyst surveys, the year 2018 is shaping up to be very good for renewed healthcare development in the marijuana industry. Markets are expected to experience a revolution through new lines of scientifically-proven medical cannabis products that are designed to treat various illnesses.
This creates excellent long-term opportunities for investors looking to gain exposure in the earliest stages. One of the most important dynamics shaping the development of the medical cannabis industry is the concerted effort that is required to advocate it’s use to patients and aiding them for medical reasons.
Evidence of progress in these areas has gradually become apparent in the United States, as more than 10,000 patients have registered for the seven-week medical marijuana program Florida since last June. When compared with the data reports from previous years, this number of registered patients has increased to more than 60%. Two months later, Hawaii’s first-ever licensed medical marijuana dispensary was actually forced to close (temporarily) due to unexpected patient demand and lack of supply.
Changing Medical Landscape
With the success of these previous efforts to educate the public about the potential health benefits of cannabis, more and more people are shifting their views on the marijuana plant (and the products derived from it). Additionally, scientific studies conducted in other countries have resulted in a growing number of medical cannabis products making their way into the US market through partnerships.
Some analysts have argued that if medical cannabis was made legalized in all 50 US states, sales of more than $4 billion could be seen every year. In the US alone, it is believed that the medical cannabis market will grow to more than $19 billion by 2025.
Since cannabis has traditionally been illegal in many parts of the world, it has not been made easily available for any laboratory testing in all settings. As a result, further studies that could expose its potential medical benefits are lacking. But with the fast-changing global regulatory landscape, it is clear that the common perspective of cannabis is shifting toward the positive side of the spectrum – and this stands to benefit the market value of companies that have been able to establish themselves at the ground level.
Given the current trends in the legalization of marijuana in many US states and other countries worldwide, the cannabis industry could quadruple its size in the next ten years.
Industry Profile: Medipure Pharmaceuticals
With various cannabis companies already showing better than expected earnings results, a growing number of investors are excited about the arrival of newcomers in the market. Rising biopharmaceutical company Medipure Pharmaceutical Inc. is looking like one of these companies, and its impressive product pipeline could provide major innovations for the industry in coming quarters.
At its core, Medipure Pharmaceuticals is an incubator group and network of strategic partnerships that works on various cannabinoid-based medications for pain, post-traumatic stress disorder (PTSD), anxiety disorders, immune disorders, and even dermatological conditions like psoriasis. Aside from cannabinoids, Medipure Pharmaceuticals also works in the development of drugs containing other controlled substances, as well as plant-derived products.
With more than 1.5 billion people seeking medical treatment in these key areas of the market, pain management is the largest consumer target indicated by the company. This is one reason Medipure Pharmaceuticals has many analysts excited as there is a strong belief that the company will bring more revenue to the sector.
- Recently, Medipure Pharmaceuticals has announced the expansion of its research laboratories in order to further improve services. This is indicative of the growth trends that are seen broadly within the medical community.
- The new research laboratory will be searching for cannabis components that can be made into non-addictive drugs.
- The new research laboratory conducts full narcotics research, allowing doctors to easily compare their findings to that of the effects of known painkillers like Oxycontin. The study will be strictly monitored to ensure if it follows the security protocols of Health Canada.
These endeavors within Medipure Pharmaceuticals will not only benefit patients but could bring cannabis closer to the forefront of medical research. The cannabis market is still in its earliest stages and support for its legalization is still very high despite severe opposition and attempts to block states that have already implemented their new medical cannabis laws. But it is difficult to turn a battleship around once it has started moving. Ultimately, the strong momentum and supportive trends should make this sector one of the most exciting growth industries in the next decade.