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The Missouri medical cannabis market is experiencing a major growth, and will grow considerably in next few years. Â Cannabis, also known as marijuana is a psychoactive drug that is produced from the Cannabis plant used primarily for medical or recreational purposes. Medical use of cannabis was legalized in Missouri in 2018 and the commercialization is expected to begin from 2020. Medical cannabis has attained varied acceptance in the medical community as a legitimate course of treatment for illnesses such as childhood seizures, glaucoma, bipolar disorder, Posttraumatic stress disorder (PTSD), schizophrenia, weight loss during chemotherapy, and many others. Cannabis is still federally prohibited as a Schedule drug, and while it is unclear how the current administration will address recreational use.
COVID-19 scenario analysis:
Increase in research about the benefits of marijuana on human health, rise in awareness among patients about their benefits, and surge in prevalence of chronic diseases are major factors driving the growth of market in Missouri (U.S.) state. However, since marijuana has still not been legalized for recreational use in the state can hinder the growth of the market. In addition, from November 2018, cultivation, processing, manufacturing, and distribution for the medical application have been legalized in Missouri. This is expected to provide lucrative opportunity to the medical cannabis market in near future.
The Missouri medical cannabis market trends are as follows:
The first launch of Missouri medical cannabis. For instance, In June 2020, St. Louis-based BeLeaf Medical became the first medical cannabis cultivator in Missouri to launch operations and as a vertically integrated company with 10 total licenses in the state, President Kevin Riggs says there is much more to come.
The cannabis are in increasing demand to treat patients such as epilepsy, post-traumatic stress disorder (PTSD), autism, chronic pain, or muscle spasms due to multiple sclerosis, Parkinson’s disease, and seizures. For instance, as of December 2019, a total of 2,200 pre-filed application forms have been received by DHSS and more than 22,000 Missourians have applied and been granted a qualifying patient ID card.
Key benefits of the report:
Questions answered in the Missouri Medical Cannabis Market research report:
Missouri Medical Cannabis Market: Opportunity Analysis and Industry Forecast 2021–2027 Report Highlights
Aspects | Details |
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By Application |
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Key Market Players | Medical Marijuana, Inc, Aurora marijuana Inc., Canopy Growth Corporation, Maricann Group, Inc, Cronos Group Inc, OrganiGram Holding Inc., VIVO Cannabis Inc., Tilray, Inc, Terra Tech Corp. |
Other Players | OrganiGram Holding Inc. |
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