The path to cannabis acceptance was far from smooth and easy and it’s all because a lot of people were perceiving it as a toxic plant that brings nothing but “trouble”. What’s interesting is the fact that the first case of cannabis use dates back to 2800 BC when it was widely utilized for various purposes in present-day China.
As we previously stated, even though people have had a lot of prejudices towards it, in the past couple of years this industry has started blooming and nowadays, there are almost 200 million people who consume this plant on a daily basis.
That’s precisely one of the main reasons why it’s safe to say that it is one of the most famous recreational drugs in the world right now. But does it mean that its future is bright or should we prepare ourselves for potential setbacks and hurdles? Let’s find out!
Marijuana & Legalization (USA)
Although it may still be illegal federally, the vast majority of states have legalized cannabis for recreational and adult medical use. Approximately, one month ago, Delaware decided to legalize it as well, meaning that it has become the 22nd state to enable legal recreational use.
In addition, in over twenty states and Washington D.C., adult people can purchase cannabis and employ it recreationally. Furthermore, in Washington D.C. you can have marijuana in your possession, however, you are not allowed to sell it.
District of Columbia, along with three territories and thirty-eight states permit people to use medical marijuana for medicinal purposes. But how can you obtain one? One of the best ways to acquire cannabis for these purposes is by having medical marijuana card.
That’s something that you can get in every state that has legalized marijuana for medicinal purposes. For example, if you live in Virginia and you would like to know how to get a medical marijuana card in va, for starters, it would be advisable to first discuss this with an experienced medical marijuana physician in this state. During that meeting, you’re supposed to provide your medical history and enumerate the reasons why you need it in the first place.
These consultations normally last around fifteen minutes and are here to make things clearer regarding the usage of marijuana, hence do not be afraid to ask any questions concerning this topic.
Medical Cannabis & Europe
It appears to be like there’s a massive interest in this plant in Europe. Namely, according to the statistics, the size of the medical marijuana market in this region will most likely reach more than $17 billion in the next few years.
And that’s all because a lot of people who have utilized cannabis have concluded that it is much more effective than many conventional treatments and medications in treating numerous health conditions.
Last year, over 300,000 individuals were treated with it and since the results were quite fantastic, we can expect this number to grow. For example, in Germany, all expenses concerning the use of medical marijuana are being covered which is a phenomenal thing.
Sadly, that’s not the case with a lot of European countries, however, we honestly hope that things will change for the better in the next couple of years and that most of them will also embrace this model.
But what’s stopping them from taking this step? Namely, many European countries (including the United Kingdom) want to gather as much helpful data as possible and conduct more thorough research that will prove that medical cannabis is indeed effective in treating different diseases.
On a more positive note, not too long ago, the first specialist medical cannabis clinic in Europe was launched, called Clinics UK (situated in London) and its main goal is to collect data from patients who have been employing medical marijuana.
What’s worth mentioning is the fact that a recent study has shown that controlled inhalation of THC-predominant cannabis flos (which represents dried, whole flowers of this plant) has drastically improved the lives of patients who were dealing with chronic pain, insomnia, anxiety, mood swings, and many other health issues.
What researchers want is to use that evidence and mix it with medical training for healthcare providers and eventually create a space that’s going to be loaded with people who have the necessary knowledge regarding cannabinoid-based medications.
Medical Marijuana & Potential Challenges
For the time being, it’s safe to say that this industry is facing various challenges, unfortunately. For starters, they must deal with fierce competition from non-cannabis businesses which have decided to step into their space.
And precisely something like this is making things so much harder (in terms of doing business) for most cannabis firms. And sadly, that’s not the only thing they should worry about. With a detrimental regulatory environment, lack of workforce, supply chain turmoil, and many other things, cannabis companies are fighting it pretty difficult to stay viable these days.
According to a couple of devastating reports, last year, over twenty companies that were selling this plant lost roughly $500 million on emolument out of $4 billion. Apart from all of this, extremely high taxes and barriers to interstate commerce continue to be one of the biggest challenges and problems in this industry.
That’s because a vast majority of lenders are constantly seeking evidence that’s going to prove to them that cannabis is in fact truly lucrative. And then people who are pursuing new capital are obligated to prove how they are capable of growing financially and avoid major financial losses.
We mustn’t forget to mention the fact that building materials, expenses for fertilizer, and packaging have become very high (and then there’s inflation as well) which is negatively impacting this industry, yet a plethora of cannabis companies still do not want to raise prices.
Although it’s highly likely that this industry will face numerous challenges by the end of this year, its fast pace of growth most certainly gives us all hope.
Just like in every industry, there are ups and downs, and this one is no exception, however, what’s nice to know is the fact that there’s a silver lining that encourages us to be very optimistic about everything that’s related to it.