U.S. Medical Cannabis Market Projected to Almost Double to

U.S. Medical Cannabis Market Projected to Almost Double to

News Highlights

Washington, May 11, 2021 (News) — New Frontier Data (https://NewFrontierData.com), the global authority in data, analytics and business intelligence on the cannabis industry, releases its latest industry report, Medical Cannabis & Pharmaceuticals: Growth & Disruption in U.S. Healthcare, highlighting medical cannabis patients as a consumer group with distinct reasons for consumption that vary greatly from those of recreational users. The rise of cannabis in the wellness space, the legal market expansion, and consumer sentiment shifting towards medical cannabis as a viable alternative to prescription medications are contributing to potential disruption of the pharmaceutical market.

Incorporating New Frontier Data’s extensive analysis on the cannabis consumer, the report delivers an in-depth and comprehensive assessment of medical cannabis preferences and behaviors, consumer purchasing and consumption habits, and the potential impact on the pharmaceutical industry.  

“The pharmaceutical sectors across Europe, Asia and North America are making strides into the recognition and application of cannabis relative to more traditional medicine, making this a critical time to best understand what the patient needs and wants, not to mention why,” noted New Frontier Data Founder and Executive Chair, Giadha A. DeCarcer. “Given the current opioid crisis in the United States and beyond, we expect increased, if not improved, collaboration and communication between the medical community and cannabis research, with an emphasis on efficacy optimization and better medicinal alignment with patient behavior.”

Key Findings of the Report Include:

Growth of Medical Cannabis & Market Opportunity:

  • 41% of U.S. cannabis consumers self-identify as medical consumers (versus recreational users) and of those, 44% are between the ages of 25-44 and 36% are aged 45-64 highlighting important demographics for medical cannabis brands.
  • Nearly half of medical consumers (45%) identify smokable cannabis as their preferred product form while 24% prefer edibles and beverages, key insight for retailers and operators.  

Cannabis as an Alternative for Prescription Drugs: 

  • Leading prescription types replaced by medical cannabis: anticonvulsants (72%), glaucoma medication (71%), anti-migraine medication (65%), nausea suppressants (65%), and ADD/ADHD (62%).
  • Consumer drivers for choosing cannabis over pharmaceuticals: 51% want more natural treatment options; 48% want to reduce or cease prescription drug use; and 29% indicate pharmaceuticals were ineffective.
  • Patients reported using less prescription medications since beginning treatments with medical cannabis in the following drug categories: opiates (68%), anxiety medications (51%) and sleep aids (55%).

A FREE copy of the Medical Cannabis & Pharmaceuticals: Growth & Disruption in U.S. Healthcare report can be downloaded here: https://hubs.la/H0N0qBl0.

About New Frontier Data:

New Frontier Data is the premier data, analytics and technology firm specializing in the global cannabis industry, delivering solutions that enable investors, operators, advertisers, brands, researchers and policy makers to assess, understand, engage and transact with the cannabis industry and its consumers.  

Our mission is to inform policy and commercial activity for the global legal cannabis industry. We maintain a neutral position on the merits of cannabis legalization through comprehensive and transparent data analysis and projections that shape industry trends, dynamics, demand and opportunity drivers.  Founded in 2014, New Frontier Data is headquartered in Washington, D.C. with a presence in Europe, Latin America and Africa. For more information about New Frontier Data, please visit us at https://www.newfrontierdata.com/.

  • NFD-MedicalCannabis&Pharmaceuticals.png

  • Check the latest Health news updates and information.
  • Please share this news U.S. Medical Cannabis Market Projected to Almost Double to with your friends and family to support us your one share helps us a lot.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Chamber honors companies for resilience |  Haverhill

Chamber honors companies for resilience | Haverhill

“Thanks to Joe, the Chamber, the SBA and our small bank, Pentucket Bank, we were able to procure the PPP (Paycheck Protection Program) loans to keep us in ...
World War Z: Aftermath, an expanded co-op shooter, is now available on PS5 and PS4

World War Z: Aftermath, an expanded co-op shooter, is now available on PS5 and PS4

In addition to all of the above extras, the heavily expanded re-release will also include three new story locations: Rome, Vatican City, and the Kamchatka ...
Crypto Shadow Banking explained and why 12% of earnings are common

US Lawmakers Introduce Bills Targeting Big Tech

US lawmakers have introduced five bills aimed at liming the power held by Big Tech companies. The bills were drafted after a 16-month investigation into the ...
PotCoin launches new desktop and mobile wallets; NFT treasure hunt with over $150K in prizes » CryptoNinjas

Tips for Keeping Your Crypto Wallet Safe

But the news caused a stir of confusion online ⁠— some speculated that bitcoin was “hacked,” and on Tuesday, the price of bitcoin seemed to slide due to ...
20 products under $20 to beautifully organize your living room

20 products under $20 to beautifully organize your living room

One problem that plagues the living room is that we use it for so many things — watching TV, entertaining guests, family game night, home office and home ...
3 Reasons Why Safety Matters Now More Than Ever

3 Reasons Why Safety Matters Now More Than Ever

Many workers may never return to the office. The increased number of locations where teams are working translates to more access points for hackers to exploit ...
Business Updates - June 2021

News Updates – June 2021

Excelsior Design Inc. has moved to 2920 George Washington Way, Suite 204, Richland. Contact: 509-627-4800; excelsior-design.com; Facebook. J-U-B Engineers Inc. ...
Nutmeg State Financial Credit Union Hosts Annual SHRED IT Saturday Event |  News

Nutmeg State Financial Credit Union Hosts Annual SHRED IT Saturday Event | News

Copyright 2021 WFSB (Meredith Corporation). All rights reserved. For more information, click here. Source www.wfsb.com Officials from Nutmeg State Financial ...
CDC issues health advice on rising RSV cases in the south

CDC issues health advice on rising RSV cases in the south

The agency recommended that clinicians test patients who show signs of acute respiratory illness who test negative for the coronavirus. The CDC said each year, ...
Nintendo Unveils New Mario + Rabbids Game On Its Own site

Nintendo Unveils New Mario + Rabbids Game On Its Own site

Mario + Rabbids is a shockingly good Nintendo Switch strategy game Despite the bizarre nature of its IP mashup, Kingdom Battle was one of the best early ...
Show next
Compsmag - Latest News from tech, business and health
Logo