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Home 🌿 Cannabis Technology News 🌿 Forget Marijuana -- This Drug Offers a Far Bigger Opportunity 🌿Forget Marijuana -- This Drug Offers a Far Bigger Opportunity
Legalized marijuana sales are booming in the U.S., with the industry growing by a whopping 74% last year. Even so, total sales came in less than $3 billion in 2014, according to a report from the ArcView Group, showing that the drug remains in its infancy in terms of its economic potential.
Source: Wikimedia.
The interesting part from an investing viewpoint, though, is that although the medical marijuana market is expected to grow to over $10 billion by 2018, that figure still pales in comparison to other rapidly growing healthcare segments, such as treatments for severe pain.
Source: Wikimedia.
The opioid market for severe pain in the U.S., for instance, already tops an estimated $11 billion, with 25 million Americans reportedly using these drugs to control intense bouts of pain on an annual basis. And that figure balloons up to 100 million for chronic pain suffers.
In 2013...
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