The global medicinal cannabis market is rapidly growing.

Lifespot Health (ASX:LSH) and Seng Vital Germany will form a 50:50 joint venture in Australia to integrate the Seng Vital Cannamed vaporizer into Lifespot’s BodyTel platform.

The Cannamed vaporizer is used for the controlled delivery of cannabis to users.

Lifespot will use its BodyTel medical diagnostic and monitoring technology to assist in the administration and monitoring of cannabis use.

The global medicinal cannabis market is currently valued at US$50 billion and growing, with an estimated 600,000 patients currently receiving treatment.

Of the two well-known methods of cannabis consumption by inhalation, the vaporizer delivery method is deemed to have fewer health concerns than the traditional combustion process or smoking.

BodyTel will monitor not only the dosage of cannabis consumption but also provide additional clinical security via a fingerprint scanner to determine the identity of the user.

The BodyTel system will then analyse and present information to carers including clinicians, support services or family members via the iOS, android or web portal formats.

Importantly, Lifespot will have the global rights to use this technology in products other than Cannamed.

One such sector is the management of asthma and associated diseases that affect circa 500 million people globally.