New Medical Applications are Expected to Boost Cannabis Value
NEW YORK, June 15, 2018 /PRNewswire/ --
According to the data provided by Energias Market Research, the global medical cannabis market is anticipated to increase in value from USD 8.28 Billion in 2017 to USD 28.07 Billion in 2024, and at a CAGR of 19.1% from 2018 to 2024. There are several vital factors that boost the growth of the market, like growing recognition of medicinal benefits, increasing demand for cannabis in the treatment of various diseases, as well as growing research and development investments. Sales of cannabis products for recreational uses are also projected to increase, as California's new recreational cannabis laws went into effect earlier this year. While California is the largest market, Canada will show strong sales as well; a report by Deloitte estimates the Canadian market will be worth at least USD 5 Billion in sales this year. Crop Infrastructure Corp.
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