Wednesday, February 05, 2014 12:36:14 PM
fueled by legalization in 15 states plus the District
of Columbia, is in the midst of unprecedented
development and growth.
See Change has conducted a first-of-its-kind analysis
of these emerging markets. See Change concludes:
?? A national market for medical marijuana is worth
$1.7 billion in 2011 and could reach $8.9 billion in
five years.
?? Two states, California and Colorado, dominate
this nascent industry, combining to represent 92% of
the wholesale and retail sales across the country.
California enjoys the largest market size at $1.3
billion, while Colorado hosts the fastest growing
and most business-friendly market.
?? Nine other states and the District of Columbia
with medical marijuana laws have or are forming
active markets. Arizona, Michigan and Washington are
particularly well-positioned as the industry matures in
the next few years.
?? There are 24.8 million potential patients eligible
for medical marijuana under current state laws.
?? Medical marijuana businesses face significant
challenges including unfavorable tax status and
downward pricing pressure but can expect high
growth driven by rising new patient adoption.
?? State regulations and federal policy uncertainty
are the largest determinants of market activity
and investment around the country.
http://www.mpp.org/assets/pdfs/library/SeeChange_MedMarijuanaMkts.pdf
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