Medical Marijuana surpass Viagra in sales

Medical Marijuana surpass Viagra in sales

Medical Marijuana surpass Viagra in sales

In the U.S., earnings from the sale of medical marijuana has reached record volumes. According to the report of the American research company See Change Strategy, the annual income from the sale of cannabis products amounted to 1,7 billion dollars. Analysts predict that marijuana can oust the “Viagra” market which is now the most profitable drug.

According to experts of the company, market is expected to nearly double in the next five years just in the 15 states where the drug has some protection under the law. If another 20 states pass medical marijuana laws — as the study projects is possible — the market could grow to $8.9 billion in 2016.

Other highlights of the report:

California and Colorado account for 92 percent of the wholesale and retail sales nationally.

Arizona, Michigan and Washington are considered well-positioned for significant growth.

There are 24.8 million potential consumers for medical marijuana in the United States today. This number reflects the number of Americans with qualifying ailments who live in a current “legal state.” Currently, there     are fewer than 800,000 patients in these states.

Business owners say the largest hurdle to success is not financing, but regulatory uncertainty.

Nearly two-thirds of businesses surveyed — 63 percent — have been in business for less than one year.

The volume of illegal marijuana market in US is now estimated to range from 18 to 35.8 billion dollars a year.

If See Change Strategy analysts’ predictions come true, medical marijuana will become a medicine that brings the greatest producer of revenue. Currently this indicator is leading Viagra, sales of which brings to the company Pfizer 1,9 billion dollars a year.

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