The burden of dealing with symptoms associated with medical conditions has financially and physically ravaged millions of people around the globe. Every day, people suffering from medical conditions are distraught by the harsh effects of the symptoms derived from their ailments. For instance, patients receiving cancer therapy can face a plethora of side effects such as nausea and severe pain. Generally, patients take a plethora of medicines in order to subdue these side effects, and in particular, cancer patients suffering from chronic pain may be prescribed dangerous opioids from their physician. As a result, more medical institutions are beginning to recommend cannabis as an alternative to treat the adverse conditions associated with cancer. The American Cancer Society has even cited studies that determined that marijuana can be helpful in treating the side effects of cancer chemotherapy. A few studies have even uncovered that inhaled (smoked or vaporized) marijuana can help with the treatment of neuropathic pain. And more recently, scientists have also reported that THC and other cannabinoids such as CBD can slow the growth of and possibly even eliminate cancer cells, ultimately reducing the spread of certain forms of cancer. Other studies have also suggested that cannabinoids can be safe for humans in treating cancer, which has led to the widespread use of medical cannabis around the world. Now, as more global government agencies collect positive data from clinical trials, additional nations will move towards legalizing medical cannabis because of its potentially valuable therapeutic effects. And as a result, the global legal marijuana market is expected to reach USD 146.4 Billion by 2025 while registering a CAGR of 34.6%, according to data compiled by Grand View Research. Pasha Brands Ltd. (OTC: CRFTF) (CSE: CRFT), Sundial Growers Inc. (NASDAQ: SNDL), Aphria Inc. (NYSE: APHA) (TSX: APHA), HEXO Corp. (NYSE: HEXO) (TSX: HEXO), Green Thumb Industries Inc. (OTC: GTBIF) (CSE: GTII)
A multitude of studies have so far confirmed that cannabis has effectively helped patients deal with their medical conditions compared to their previous medications. For instance, the National Academies of Sciences, Engineering, and Medicine (NASEM) released a study in 2017 which uncovered that chronic pain patients treated with medical cannabis reported a significant reduction in pain symptoms. However, patients using medical cannabis for chronic pain are typically required to consume it every day. In some severe cases, patients have reported that they cannot go a single day without consuming cannabis because their pain is not tolerable. However, the major drawback is that patients can easily develop a tolerance for the plant's effects. And once a patient's tolerance levels get too high, he or she will need to consume even more cannabis, which can, in turn, become expensive. As such, many patients have shifted from dried cannabis flower to extracts and concentrates because they are much more potent and deliver the effects almost immediately when compared to flower. Despite the shift, there is still a large demand for dried cannabis flower because it is used to create these highly-potent cannabis-based products. Furthermore, the quality of dried cannabis can determine the potency of other products, which is why premium quality is being demanded. For example, "craft cannabis" producers have become increasingly popular because of their high-quality cannabis buds. Additionally, consumers are beginning to opt towards strains from craft producers because large-scale licensed producers sometimes lack sufficient quality. Overall, craft cannabis is similar to craft beer where producers are passionate about their product and typically, craft cannabis producers take extensive measures to ensure top-shelf quality by meticulously monitoring each plant and hand-trimming the buds. Ultimately, craft producers create natural and potent products that are enjoyed by both recreational and medical cannabis users. "The art of cannabis has come a long way from the days of the dime bag, when you had no idea where your cannabis came from, what kind of pesticides or growing methods produced it, or even what strain it was. These days, in the legal cannabis marketplace, you have your choice of the best of the best of 'craft cannabis,'" said Lisa Rough, former Associate Editor at Leafly.
Aphria Inc. (NYSE: APHA) (TSX: APHA) is a leading global cannabis company driven by an unrelenting commitment to our people, the planet, product quality and innovation. Aphria Inc. recently announced that its subsidiary Marigold Projects Jamaica Limited had received a retail Herb House license from Jamaica's Cannabis Licensing Authority to open its first store in Kingston, Jamaica. Marigold Projects, a 49% owned subsidiary of Aphria Inc., holds a Tier 3 license to cultivate more than 5-acres of land with cannabis for medical, scientific and therapeutic purposes. Marigold Projects cultivation farm is fully operational, and inventory at the opening will exceed 2,700 kgs. The company maintains an additional 20-acres of vacant land in anticipation of expanding its cultivation operations, as well as a 10-acre farm in St Catherine. "The approval of Marigold's first Herb House signals an exciting time for Aphria. We believe that there is tremendous opportunity in Jamaica from a domestic and international perspective and we look forward to bringing Sensi products to the market," said Interim Chief Executive Officer, Irwin D. Simon. "Receiving this licence is testament to our team's hard work and dedication in growing our Caribbean and LATAM business as we provide high-quality cannabis products in regions. Aphria will continue to execute on our business plan to create long-term value, sales growth, and profitably in Canada and internationally."
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