The legal use of cannabis and the changing face of the industry have presented companies such as ourselves with immense opportunity. Although legality and popularity vary from region to region, the use of medicinal cannabis is on the rise worldwide. Vast potential still exists, from further legalisation, particularly in Asia and Africa.
The legal usage of cannabis for medical purposes is steadily growing, each year but varies across countries. In addition, there is an increasing volume of research supporting the use of cannabis for medical purposes. The global medical marijuana market was valued at US$ 13,9 billion in 2017 and is expected to reach US$ 57,58 billion by 2026, expanding at a CAGR of 17.1% from 2018 to 2026. There are currently about 40 countries across the world, that legally use cannabis distributed through prescription or limited use in ayurvedic medicines.
There are currently over 50 listed conditions that have felt the benefits of medicinal cannabis and as clinical research advances, the applications of medicinal cannabis are likely to grow. South Africa is positioned to become a global leader in the growing of cannabis for medical purposes and SafriCanna endeavours to be a pioneer in this movement.
CLINICAL TRIALS VALIDATING INDUSTRY
NOTABLE NUMBER OF TRIALS ACROSS THE GLOBE
Controlled clinical trials are validating and expanding acceptance and use of medical cannabis.
GLOBAL MEDICAL CANNABIS MARKET
ESTIMATED MARKET SIZE
Industry will see a shift from illicit market to legal use across recreational, wellness and medicinal.
MAKING WAY FOR MEDICAL CANNABIS
Growing wave of countries legalising cannabis, increasing the size of addressable market.