Medical Marijuana - From Illicit to Legal and Beyond to Pharmaceuticals - Global Markets, Competitors and Opportunities : 2015 - 2020 Analysis and Forecasts
- February 2015
- 161 pages
- Amadee and Company
The objective of this report is to provide a detailed analysis of the global market for Medical Marijuana. It is also to provide a comprehensive analysis of the leading companies producing these products, as well as the competitive environment they operate in. Marijuana (cannabis) remains a controversial drug in the twenty-first century. However, the potential role of specific cannabinoids for medical benefits will be revealed as the twenty-first century matures.
Marijuana is the most widely cultivated illicit drug plant worldwide. The international legal framework on drug control is provided by three United Nations Conventions, which instruct countries to limit drug supply and use to medical and scientific purposes. Nevertheless, there continues to be increasing debate over decriminalization, or even legalization of cannabis in particular.
This report provides an estimate of global cannabis production both in volume and value during the 2015-2020 period. The illicit use of marijuana dwarfs the medical use and that probably always will be the case. But to put global cannabis production in perspective, it is bigger than retail sales of all OTC (over-the-counter) analgesic pharmaceuticals by a factor of 9 and sales of pain medication pharmaceuticals by a factor of 25.
23 U.S. states and the District of Columbia now have legalized medical marijuana, and two states (Colorado and Washington state) allow for adult use (commonly referred to as recreational use). However, the focus in this report is on the Canada medical marijuana market, which is a new, emerging growth industry. The medical marijuana space in Canada, which went into effect in April 2014, has created conditions for a new highly regulated commercial industry with a limited amount of suppliers vetted extensively by Health Canada. Over $100 million in investment dollars have flowed into the Canadian medical marijuana industry already.
The future of medical marijuana lies in pharmaceutical products for the management of neuropathic pain, hypertension, post-stroke neuroprotection, multiple sclerosis, epilepsy, cancer, and other disorders.
Marijuana is the most widely cultivated illicit drug plant worldwide. The international legal framework on drug control is provided by three United Nations Conventions, which instruct countries to limit drug supply and use to medical and scientific purposes. Nevertheless, there continues to be increasing debate over decriminalization, or even legalization of cannabis in particular.
This report provides an estimate of global cannabis production both in volume and value during the 2015-2020 period. The illicit use of marijuana dwarfs the medical use and that probably always will be the case. But to put global cannabis production in perspective, it is bigger than retail sales of all OTC (over-the-counter) analgesic pharmaceuticals by a factor of 9 and sales of pain medication pharmaceuticals by a factor of 25.
23 U.S. states and the District of Columbia now have legalized medical marijuana, and two states (Colorado and Washington state) allow for adult use (commonly referred to as recreational use). However, the focus in this report is on the Canada medical marijuana market, which is a new, emerging growth industry. The medical marijuana space in Canada, which went into effect in April 2014, has created conditions for a new highly regulated commercial industry with a limited amount of suppliers vetted extensively by Health Canada. Over $100 million in investment dollars have flowed into the Canadian medical marijuana industry already.
The future of medical marijuana lies in pharmaceutical products for the management of neuropathic pain, hypertension, post-stroke neuroprotection, multiple sclerosis, epilepsy, cancer, and other disorders.
CONTENTS
EXECUTIVE SUMMARY
INTRODUCTION
- Report Objectives
- Methodology and Sources
- Statistical Notes
MEDICAL MARIJUANA
- Introduction
- Used for Thousands of Years
- Cannabis Sativa Plant
- Prevalence of Use
- Method of Consumption
- Cannabis Use with Other Drugs
- Cannabinoids
- Endocannabinoid System
- Benefits of Medical Marijuana
- Medical Adverse Effects
- Dental Effects of Cannabis
- Pulmonary Effects
- Cannabis and Cancer
- Cardiovascular Effects
- Psychiatric Adverse Effects
- Cannabis and Neurodevelopment Effects
- Cannabis and ADHD
- Cannabis Dependence
- Cannabis Withdrawal Syndrome
- Addiction
- Cannabis and Psychosis
GLOBAL CANNABIS MARKET
- Most Widely Cultivated Illicit Drug Plant
- Indica vs. Sativa
- THC vs. CBD
- Main Cannabis Products
- Legal Issues
- Netherlands Laws
- United States Laws
- Uruguay Laws
- Production and Yields Highly Variable
- Production Estimation Issues
- UNDOC Estimates
- Global Cannabis Production
- Global Cannabis Production by Region
- North America Cannabis Production
- Marijuana Market vs. OTC Analgesic and Pain Pharmaceuticals Markets
- Canada Marijuana Market vs. U.S. Market
- Legalization and Decriminalization
- California Medical Marijuana Market
- Canadian Market Structure More Favorable for Producers
- Illicit Marijuana Production vs. Medical Marijuana Production
- Colorado Black Market for Marijuana
CANADA MEDICAL MARIJUANA MARKET
- New Emerging Growth Industry
- Modern History of Medical Marijuana in Canada
- MMAR vs. MMPR - Regulatory Overhaul Following Safety Concerns and Abuse
- Why MMAR Was Overhauled
- Objectives of MMPR
- Marihuana for Medical Purposes Regulations - The New System
- Injunction Explained
- Patient Application Streamlined
- Prescription Process Under MMPR
- Shipping/Packaging Requirements
- Licensing Process Under MMPR
- Growing Enrollment Numbers Points to Strong Growth
- Health Canada Projected Demand
- How HC Made Its Forecasts Is Somewhat Unknown
- Canada Forecast Patient Growth
- U.S. Forecast Patient Growth
- Growth Rates from A Low Base.
- Market in 2024
- Proposed Expansion Plans of LPs May Satisfy Demand
- More than C$100 Million Invested
- Product Pricing Varies by LP
- Compassionate Pricing Is Not Mandatory
- Licensed Producers
- Good To Be an LP
- Physician Role Is Very Important
- Physician Role Should Not Be Overstated
- MMAR Physician Authorizations
- Physician Penetration Under MMPR
- Health Canada View on Medical Marijuana
- College of Family Physicians of Canada Prescribing Guidelines
- Patients Using Medical Marijuana in Canada by Ailment
- Soils vs. Hydroponic
- Indoor vs. Outdoor
- Production Cycle
- Cost of Production
- Infused Products Not Allowed Yet
- Industry Catalysts
- Consolidation More Likely Than Acquisition
- Edibles Legalization
- Edibles Issues
- Insurance Coverage
- Recreational Legalization
- Potential Risks
- Legislation Changes
- Enterprise Valuations
- Adoption Rates Still Uncertain
- Product Quality and Public Perception
COMPANY PROFILES
Aphria Inc
(Company Overview, Medical Marijuana)
Bedrocan Cannabis Corp.
(Company Overview, Strategy, Medical Marijuana, Competitive Advantages, Bedrocan BV, Advantages to Bedrocan BV Partnership, License Agreement Lowers Risk, License Agreement Provides Upside, South American Countries Looking to Legalize, Bedrocan Product Suite, Bedrocan, Bedropuur, Bedica, Bediol, Small Product Suite, CFPC Preliminary Guidelines, Facilities, Import Facility, Domestic Production Facility, Acquisition for Facility Growth, BV Import Schedule, State of the Art Growing Operations, Production Flow, Production Ramp, Annual Sales Volume, Cost Per
EXECUTIVE SUMMARY
INTRODUCTION
- Report Objectives
- Methodology and Sources
- Statistical Notes
MEDICAL MARIJUANA
- Introduction
- Used for Thousands of Years
- Cannabis Sativa Plant
- Prevalence of Use
- Method of Consumption
- Cannabis Use with Other Drugs
- Cannabinoids
- Endocannabinoid System
- Benefits of Medical Marijuana
- Medical Adverse Effects
- Dental Effects of Cannabis
- Pulmonary Effects
- Cannabis and Cancer
- Cardiovascular Effects
- Psychiatric Adverse Effects
- Cannabis and Neurodevelopment Effects
- Cannabis and ADHD
- Cannabis Dependence
- Cannabis Withdrawal Syndrome
- Addiction
- Cannabis and Psychosis
GLOBAL CANNABIS MARKET
- Most Widely Cultivated Illicit Drug Plant
- Indica vs. Sativa
- THC vs. CBD
- Main Cannabis Products
- Legal Issues
- Netherlands Laws
- United States Laws
- Uruguay Laws
- Production and Yields Highly Variable
- Production Estimation Issues
- UNDOC Estimates
- Global Cannabis Production
- Global Cannabis Production by Region
- North America Cannabis Production
- Marijuana Market vs. OTC Analgesic and Pain Pharmaceuticals Markets
- Canada Marijuana Market vs. U.S. Market
- Legalization and Decriminalization
- California Medical Marijuana Market
- Canadian Market Structure More Favorable for Producers
- Illicit Marijuana Production vs. Medical Marijuana Production
- Colorado Black Market for Marijuana
CANADA MEDICAL MARIJUANA MARKET
- New Emerging Growth Industry
- Modern History of Medical Marijuana in Canada
- MMAR vs. MMPR - Regulatory Overhaul Following Safety Concerns and Abuse
- Why MMAR Was Overhauled
- Objectives of MMPR
- Marihuana for Medical Purposes Regulations - The New System
- Injunction Explained
- Patient Application Streamlined
- Prescription Process Under MMPR
- Shipping/Packaging Requirements
- Licensing Process Under MMPR
- Growing Enrollment Numbers Points to Strong Growth
- Health Canada Projected Demand
- How HC Made Its Forecasts Is Somewhat Unknown
- Canada Forecast Patient Growth
- U.S. Forecast Patient Growth
- Growth Rates from A Low Base.
- Market in 2024
- Proposed Expansion Plans of LPs May Satisfy Demand
- More than C$100 Million Invested
- Product Pricing Varies by LP
- Compassionate Pricing Is Not Mandatory
- Licensed Producers
- Good To Be an LP
- Physician Role Is Very Important
- Physician Role Should Not Be Overstated
- MMAR Physician Authorizations
- Physician Penetration Under MMPR
- Health Canada View on Medical Marijuana
- College of Family Physicians of Canada Prescribing Guidelines
- Patients Using Medical Marijuana in Canada by Ailment
- Soils vs. Hydroponic
- Indoor vs. Outdoor
- Production Cycle
- Cost of Production
- Infused Products Not Allowed Yet
- Industry Catalysts
- Consolidation More Likely Than Acquisition
- Edibles Legalization
- Edibles Issues
- Insurance Coverage
- Recreational Legalization
- Potential Risks
- Legislation Changes
- Enterprise Valuations
- Adoption Rates Still Uncertain
- Product Quality and Public Perception
COMPANY PROFILES
Aphria Inc
(Company Overview, Medical Marijuana)
Bedrocan Cannabis Corp.
(Company Overview, Strategy, Medical Marijuana, Competitive Advantages, Bedrocan BV, Advantages to Bedrocan BV Partnership, License Agreement Lowers Risk, License Agreement Provides Upside, South American Countries Looking to Legalize, Bedrocan Product Suite, Bedrocan, Bedropuur, Bedica, Bediol, Small Product Suite, CFPC Preliminary Guidelines, Facilities, Import Facility, Domestic Production Facility, Acquisition for Facility Growth, BV Import Schedule, State of the Art Growing Operations, Production Flow, Production Ramp, Annual Sales Volume, Cost Per
