The emergence of medical cannabis globally
The legal medical cannabis industry has seen a significant rise globally. From its humble beginnings in the mid-1990s in California, the industry has evolved and grown into a global powerhouse. International economists estimate that the legal medical cannabis market topped $31.8 billion USD in 2022 and predict that by 2030, the market size could more than double.
The evolution of the medical cannabis industry
The medical cannabis industry has undergone considerable evolution over the past three decades. The industry in its infancy in the mid-1990s in California bears little resemblance to the sophisticated and complex industry we see today. The rise of legal medical cannabis imports and exports has added to the complexities.
Impact of adult-use reform
Adult-use reform is gaining momentum, particularly in Europe, with Germany on the brink of passing a national adult-use legalisation measure. The modernisation of adult-use cannabis policies is likely to impact medical cannabis policies in regions where adult-use reform is enacted.
