Medical cannabis goes global

The medicinal market is expected to grow five-fold in the next decade – here are the countries likely to import or export as well as insights into potential patient levels

Andrew Willis 8 July, 2019 | 4:50PM

Note: This article is part of Morningstar Canada's Cannabis Week Special Report

While treaties on drug enforcement limit the global trade of cannabis for recreational purposes, the potential for medical cannabis exports is very large at face value. In Morningstar’s June 2019 Basic Materials Observer titled “Green Rush: Cannabis Market Will Grow by 9 Times by 2030,” we estimated that the market for Canadian and U.S. exports could reach nearly US$ 20 billion in sales by 2030 in current dollars, compared with nearly US$ 4 billion currently.

Canada, and to a lesser extent, the U.S. are two of the largest and most developed markets that have passed medical cannabis legalizations on some level. This has left room for the remaining global market to expand more than 11 times its current size.

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Andrew Willis

Andrew Willis  Andrew Willis is a content editor for Morningstar.ca.

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