The Future of Medical Marijuana Industry Beyond 2016

The Future of Medical Marijuana Industry Beyond 2016

The medical cannabis industry in Canada and globally is expected to be great in the coming years. A lot of progress has been witnessed in the past decade, and a lot more is expected in future. Experts believe that beyond 2016, the industry is going to experience a number of breakthroughs. In connection to this, here is a brief overview of the cannabis industry trends that should be expected in future.

More Medical Research influenceOne of the valuable aspects of Cannabis use that hasn’t been fully utilized in Canada is its medical application owing to numerous obstacles to serious scientific research. However, that’s changing fast, and many experts predict that this will tremendously alter the face of medical marijuana retail market. Numerous research projects are going to be commissioned across the nation and globally, which is going to result into more ideas that probably haven’t even been tried yet.

New Product Development

Infused products firms haven’t scratched the cannabis arena yet, but they could begin doing so in the coming years. As more research delves into different uses of the medical marijuana and how they can be exploited for various applications, there are going to be new products that deal with differing medical conditions or that are customized for different age groups.

Tracking usage and sales digitally

Technology will impact every part of Cannabis usage and sales experience. After finding retailers online, consumers will have the opportunity to use different apps to track their shopping experience, record marijuana strains that work for them, and communicate with the retail stores in case of any issue. There is even the possibility of having medical cannabis delivered using drones.

Technology driven Manufacturing and production

As the demand for medical marijuana increases, the industry will need to double its production efforts. Currently, it is estimated that 41 percent of the cannabis market is comprised of sales extracted majorly from concentrates, derivatives, and edibles.

As robots take over the manufacturing sphere, automation of the production process will be a common place in the industry. Greenhouse technology plays a big role in manufacturing and the cannabis industry will benefit immensely from any new developments that come with the technology. Indoor cultivation is currently associated with high energy costs, so cannabis growers will need to use newer technologies to optimize energy efficiency.

Conclusion

Beyond 2016, the landscape of medical marijuana retailers, cultivators, businessmen and other industry stakeholders will continue to evolve. New markets will crop up, an unprecedented number of countries could legalize medical cannabis, and a plethora of business opportunities will come up—bigger and better than ever. Like any other industry, a few challenges area also expected.

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