Recent studies suggest a continuing uptick in medical cannabis markets, fueled by a surge in research and development of cannabis-based medical devices. However, the high cost of these devices is a hindrance, along with safety concerns pertaining to procedural applications. Additionally, there is limited awareness regarding laser device treatments utilizing cannabinoids, which restrains the full potential of the market reach.
But never fear, the future is still green! Technical advancements in medical cannabis, combined with proactive strategy implementations by emerging market players, promise an influx of opportunities for growth. Despite the complex legal landscape and a shortage of skilled professionals, the cannabis industry shows no bounds.
According to Data Bridge Market Research, the global medical cannabis market could see a compound annual growth rate of 22.8% from 2023 to 2030. From my perspective, that’s a massive wave of green growth which we are just starting to ride.