Growing Support for Cannabis Legalization Fuels Industry https://www.prnewswire.com/news-releases/growing-support-for-cannabis-legalization-fuels-industry-as-a-global-marketplace-300907325.html
NEW YORK, Aug. 27, 2019 /PRNewswire/ -- Canada made headlines in 2018 after it became the second country in the world to completely legalize cannabis for adult use. The spur of legalization efforts has drawn in millions of people worldwide who are curious to try cannabis. Pia M. Mauro, PhD, Assistant Professor of Epidemiology at the Mailman School of Public Health, highlighted that the increase in daily and nondaily usage among adults was predominantly due to legalization efforts, attitudes and risk perception. Predominantly, most consumers are using cannabis for medical purposes because of the global widespread accessibility. For instance, dozens of countries such as Australia, Colombia, France, Germany, Spain, the U.K., and parts of the U.S. have adopted a medical cannabis legislation. Although medical cannabis is legalized in these regions, it is still heavily regulated and authorities only allow it for specific chronic medical conditions. Medical cannabis is primarily being used for patients suffering from severe pain, cancer, arthritis, Alzheimer's, and Parkinson's. While medical cannabis much more globally accessible, there is still a large demand in legal recreational markets such as Canada and the U.S. Moreover, other countries such as Mexico and New Zealand are exploring opportunities within the recreational market. The growing support for cannabis legalization is further propelling the industry and establishing it as a prominent global marketplace. According to data compiled by Verified Market Research, the global marijuana market was valued at USD 42.20 Billion in 2016. By 2025, the market is expected to reach USD 466.81 Billion while registering a CAGR of 35.3% from 2018 to 2025. Micron Waste Technologies Inc. (OTC: MICWF) (CSE: MWM), General Cannabis Corp. (OTC: CANN), Aleafia Health Inc. (OTC: ALEAF) (TSX: ALEF), Terra Tech Corp. (OTC: TRTC), Vivo Cannabis Inc. (OTC: VVCIF) (TSX-V: VIVO)