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Cannabis Economics: Medical Marijuana Sales Rival that of Viagra

Cannabis Economics: Medical Marijuana Sales Rival that of Viagra

Posted by Marijuana Doctors on 05/18/2011 in Medical Marijuana Economics

The medical marijuana industry is now a $1.7-billion market in the U.S., according to a recent report by See Change Strategy, an independent financial analysis firm that specializes in new and unique markets. With numbers that high, cannabis sales now rival that of Viagra, a $1.9-billion business. In fact, MSNBC calls pot a “blockbuster drug.”

The See Change Strategy report focuses the medical marijuana industry in 15 states and the District of Columbia. However, the number did not include the underground black market and medical gray market, which is worth an estimated $18 billion to $35.8 billion a year. That’s a heck of a lot of undocumented revenue (which, ahem, would be taxed if marijuana were legalized).

MSNBC also reports that the medical marijuana market is expected to double in the next five years in the current 15 states that have already passed medical marijuana laws. And with more and more states adding medical marijuana laws, the on record revenues will only soar. It’s estimated that if another 20 states pass medical marijuana laws by 2016 (which is actually a realistic number, projections show) the medical cannabis market could soar to a nearly $9 billion industry.

So what knowledge can we gain from all of this? Not only is medical marijuana a cure all drug that relieves severe nausea, vomiting, wasting syndrome and severe pain in patients with HIV/AIDS and cancer; stops muscle spasms in people with multiple sclerosis, ALS or cerebral palsy; relieves intraocular eye pressure in patients with glaucoma; has been proven to slow or stop the growth of cancer cells; has been proven to not cause cancer; and boats countless other medical benefits… But it can also heal our economy as well.

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