Using Research to Read the Marijuana Leaves: A Roadmap on What the Future of Medical Marijuana Holds
Legal marijuana is the fastest growing industry in the US, as reported by the cannabis investment firm ArcView Group. Additionally, Inc. magazine analyzed expected revenues and found medical marijuana on its own to be the fourth fastest growing industry this year, behind motion capture, telehealth, and cider. IBISWorld reports that legal marijuana sales last year were nearly $3B and the ArcView Group estimates that full legalization of marijuana would lead to $36.8B in revenues, surpassing the organic food industry. With figures like this, few can argue about the potential of the legal marijuana market.
Medical marijuana dominates sales revenue, accounting for 86% of total legal marijuana sales according to IBISWorld. In contrast to marijuana’s bright future in the business world, the medical world is less convinced. While 76% of physicians worldwide support marijuana for medicinal purposes, according to a New England Journal of Medicine report, a recent issue of the Journal of the American Medical Association highlights challenges and controversies that include low quality evidence for efficacy that would not withstand FDA scrutiny and inaccurately labeled medical marijuana products with content often below indicated values.
Innovatively’s platform derives business intelligence from existing research data. The 23,754 publications and 204 closed clinical trials show how marijuana has evolved as a medical treatment. Here, we show how the 104 open clinical trials signal what to expect next in the booming medical marijuana industry.
At Innovatively, we are repurposing research data. Beyond academic labs, data can uncover critical information on what to expect in the market next and even an in-depth glimpse into a competitor. As a technology platform, we drive down the time and cost of traditional market research. Our platform is already 10x faster than consulting firms and delivers information as early as tomorrow. We’re building Innovatively to change how we get information in healthcare & life sciences. Have the latest information come to you with a click. Sound interesting? Let’s chat at email@example.com.
Innovatively’s technology collects, analyzes and connects data across publications, grants, patents, clinical trials and other creative data sources to provide actionable research intelligence. Our web platform makes sense of public research data to help companies know their market, competitors and customers faster, easier and better than ever before. Learn more at innovatively.co.