Medical Marijuana Widens its Global Footprint for Significant Growth

Medical Marijuana Widens its Global Footprint for Significant Growth

In Top Stories by MediReview StaffLeave a Comment

Over the next decade, the legal cannabis industry will see significant global growth, reports Arcview Market Research. In fact, spending on legal cannabis globally is expected to hit $57 billion by 2027 with medical marijuana accounting for 33% of that figure. Now, as millions of people living all over the world look to embrace its medicinal properties, marijuana companies are quickly picking up international exposure to realize higher valuations. Several legitimate players include Scythian Biosciences Corporation (TSX-V: SCYB) (OTC: SCCYF), Aphria Inc. (OTC: APHQF) (TSX: APH ), Canopy Growth (NYSE: CGC ), Aurora Cannabis (OTC: ACBFF) (TSX: ACB ) and Cara Therapeutics (NASDAQ: CARA ). Whether it be Scythian Biosciences Corporation’s venture into Argentina, Colombia, and Jamaica’s medical marijuana market, or Canopy Growth’s growth in the U.S., Canada, South America, and Europe thanks to its 2016 acquisition of Germany-based MedCann, related companies are widening global footprints for growth, offering investors a good deal of promise. Latin American Marijuana Poised for Global Domination "Latin America, the Caribbean and Europe present incredible opportunities for those with proven track records when you consider the combined number of licenses granted to date for a population count of well over 1.5 billion outside of Canada and the US is fewer than the number granted to the Canadian market with 36 million people" said Aphria President and CEO, Vic Neufeld. In Latin America, after Uruguay, the move to legalize medical marijuana really began in one of the region’s largest economies, with the first licences issued in Colombia in 2017, reports The Globe and Mail. "Medical-cannabis legislation has also passed in Chile, Argentina and Peru, with politicians seeing the growing and cultivation of cannabis for medical purposes as a viable alternative to the illegal drug trade of a generation ago, and a defence against the opioid […]

Leave a Comment