The Growth of the Legal and Medical Marijuana Markets

New Frontier and ArcView Market Research published a report on the legal marijuana market, projecting its growth in the United States to $7.1 billion in 2016, a 26% growth from 2015.
As stated in the report:

The legal marijuana market in the United States is projected to grow substantially in 2016. A recent report by New Frontier and ArcView Market Research projected the marijuana market in the United States to grow to $7.1 billion in 2016, which represents a 26% growth comparing to 2015. Veritas Pharma Inc. (OTC: VRTHF), Cara Therapeutics Inc (NASDAQ: CARA), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE), Terra Tech Corp. (TRTC), GW Pharmaceuticals PLC (NASDAQ: GWPH)
The report shows that recreational marijuana alone has topped sales of $998 million in 2015, which represents growth of 184% year over year. Yet, while recreational marijuana seems to be growing in sales faster than the medical products, it is important to remember that recreational marijuana is only legal in four states – Alaska, Colorado, Oregon and Washington. Medical products, on the other hand, is legal in 24 states. Additional 16 states have legalized CBD-only marijuana, which is a non-psychoactive product specifically designed for certain medical applications like treating intractable seizures in children.
As the medical marijuana becomes more mainstream and more states adopt its use, small and large companies are looking to position themselves in the sector. The medical marijuana products can be used for a very wide range of applications. Veritas Pharma Inc. (OTC: VRTHF) for example current R&D efforts are to develop the most effective cannabis strains (cultivars) specific to pain, nausea, epilepsy and PTSD, assisting the critical need for real science to support medical marijuana claims. The company’s commercial mission is to patent protect its IP (cultivars/ strains) and sell or license to cancer clinics, insurance industry and pharma, targeting multi-billion dollar global markets.
Veritas Pharma Inc. (VRTHF) recently announced that Cannevert Therapeutics Ltd., the Company’s exclusive partner and high-level R&D arm, has been awarded a research grant through Mitacs Inc. for research and development work related to the discovery of new cannabis strains for specific disease conditions. Veritas’ CEO, Dr. Lui Francioisi stated, “this is a positive development for our investors as it directly funds Cannevert in a manner that is non-dilutive to Veritas shareholders.” Mitacs is a national not-for-profit organization that has designed and delivered research and training programs for 15 years, with aims to support industrial and social innovation through partnership with provincial governments, federal government, academia, and industry.
Legalization of medical marijuana gave legal and financial incentive to pharmaceutical companies like Cara Therapeutics Inc. (NASDAQ: CARA) and Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) to explore the possibilities of cannabinoid. Cara is studying cannabinoid receptors and is developing lead molecules that selectively modulate peripheral CB receptors without targeting CNS cannabinoid receptors.  These receptor modulators will be developed as a therapeutic approach for neuropathic pain, a condition currently without effective therapies. Zynerba’s product candidate CBD Gel – ZYN002 is a non-psychoactive cannabinoid, and is in Phase 2 clinical development for patients with refractory epilepsy.
GW Pharmaceuticals PLC (NASDAQ: GWPH) research on cannabinoid is quite extensive. The company indicates that there are over 60 cannabinoid compounds identified to date. GW is researching a large number of cannabinoids, each of which has different effects and applications.
Another industry that has seen some new innovative practices after legalization of medical marijuana in certain states. Terra Tech Corp (TRTC) MediFarm LLC subsidiaries are focused on medical cannabis cultivation and permitting businesses throughout Nevada. The Company’s wholly-owned subsidiary GrowOp Technology, specializes in controlled environment agricultural technologies.
As public perception and patient preference continues to trend positively towards the medical use of marijuana, only time will tell if society will full accept it.
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
For “The Latest Buzz in Financial News”, Please Visit: https://www.FinancialBuzz.com
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR branding, marketing and advertising for third parties for disseminating news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided onhttps://www.FinancialBuzz.com (the “Site”) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into service agreements with the companies which are the subject to the articles posted on the Site for advertising such companies. Financialbuzz.com has been compensated three thousand dollars for financial news pr services by a non-affiliated third party for veritas pharma inc. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. We do not undertake to update any of the information on the Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security.  FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on the Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit:https://www.financialbuzz.com
Media Contact:
Danny A.
info@financialbuzz.com
+1-877-601-1879
SOURCE FinancialBuzz.com