Missouri Medical Cannabis Market: Opportunity Analysis and Industry Forecast 2021-2027 Market

Missouri Medical Cannabis Market Outlook:

The Missouri medical cannabis market is experiencing a major growth, and will grow considerably in next few years.  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:

• COVID-19 has affected the medical cannabis market.  For instance, COVID-19 has delayed medical and recreational cannabis launches and licensing rounds around the U.S. in the short term as state and local jurisdictions scramble to complete the tasks and paperwork necessary for marijuana programs to move forward.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact 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:

New product launches to flourish the market

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.

Surge in usage in healthcare applications

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:

• This study presents the analytical depiction of the Missouri medical cannabis industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Missouri Medical Cannabis market share.
• The current market is quantitatively analyzed to highlight the Missouri Medical Cannabis market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed Missouri Medical Cannabis market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Missouri Medical Cannabis Market research report:

• What are the leading market players active in the Missouri Medical Cannabis market?
• What the current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?

 Missouri Medical Cannabis Market: Opportunity Analysis and Industry Forecast 2021–2027 Report Highlights